Latest News- Continuous Glucose Monitoring (CGM) Market: Sensors is expected to lead the Component segment during 2024-2028

The Continuous Glucose Monitoring (CGM) Market is being driven by Rise in diabetic population

The Continuous Glucose Monitoring (CGM) Market is expected to grow at a CAGR of 6.78% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2935.1 million. In the business context, the continuous glucose monitoring (CGM) market holds significant potential due to the increasing prevalence of diabetes and the growing recognition of the importance of regular glucose level monitoring for effective diabetes management. Portable medical devices, such as CGM systems and blood glucose monitoring systems (BGMS), including test strips and meters, have gained popularity among diabetes patients for their convenience and accuracy. These devices enable users to obtain real-time glucose level readings, enabling proactive management of their condition and reducing the risk of complications. The frequent use of BGMS at home is a crucial component of diabetes care, providing users with valuable insights into their glucose trends and helping them make informed decisions about their diet, medication, and lifestyle choices. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Sensors
  • Transmitters
  • Receivers
• End-user
  • Home care
  • Hospitals
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in diabetic population
• Technological innovations and advances
• Availability of reimbursement for BGM devices

However, the market also witnesses some limitations, which are as follows:

• Lower diagnosis and treatment rate
• Inaccurate and expensive systems
• High cost of BGM devices

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Market Scope in Continuous Glucose Monitoring (CGM) Market Research Report

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Research Analysis Overview

The Continuous Glucose Monitoring (CGM) market plays a significant role in diabetes research and treatment, offering real-time insights into blood sugar levels for effective diabetes exercise and medication management. With innovations in sensor technology and wear time, CGM enables better diabetes control and complications management. Diabetes care includes education, diet, and lifestyle modifications, all supported by CGM's accuracy and integration with diabetes management apps and self-management tools. The diabetes community benefits from CGM's role in diabetes and technology, diabetes and sleep, diabetes and pregnancy, diabetes and research, and diabetes and advocacy. Sensor comfort and sensor innovation contribute to improved diabetes lifestyle and diabetes and nutrition management. CGM also facilitates diabetes prevention efforts, diabetes management solutions for diabetes and work, diabetes and children, and diabetes and insurance coverage.

Market Research Overview

The Continuous Glucose Monitoring (CGM) market is a significant segment of the global healthcare equipment industry, focusing on the development and manufacture of advanced glucose prediction and monitoring systems. These devices, which include sensors for hypoglycemia risk assessment and digital health platforms for data management, fall under the consumables category within the healthcare equipment market. With regulatory approvals in place, CGM systems offer enhanced diabetes management solutions for both adults and pediatric patients, providing real-time, accurate blood sugar level information to improve overall health outcomes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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