Global Continuous Glucose Monitoring Devices Market

Continuous Glucose Monitoring Devices Market Size, Share, Growth Analysis, By Component(Transmitters, Sensors, Receivers), By End-Use(Hospitals, Home Care, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2568 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 63 | Figures: 75

Continuous Glucose Monitoring Devices Market News

In March 2024, the FDA granted clearance to the Dexcom Stelo Glucose Biosensor System, stamping it as the main over-the-counter (OTC) continuous glucose monitor (CGM) to get such an endorsement. This incorporated CGM is intended for grown-ups aged 18 years and more seasoned who don't utilize insulin or for people without diabetes trying to acquire experiences into what diet and exercise mean for blood glucose levels.
In January 2024, the National Research Foundation, Singapore (NRF), granted a S$20 million fund to Nanyang Mechanical University, Singapore, and Imperial College London. The grant plans to help the advancement of strategies to upgrade the security of health information and wearable gadgets.
In January 2024, Kakao Healthcare CEO Hwang Hee declared the launch of PASTA, another portable blood sugar management service, at the J.P. Morgan Healthcare Conference 2024 Created in a joint effort with Dexcom, Novo Nordisk, and I-SENS, PASTA offers highlights like AI-based food acknowledgment, real-time blood sugar measurement, direction, analytical reports, and a local area stage for sharing information.

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Continuous Glucose Monitoring Devices Market size was valued at USD 8 billion in 2022 and is poised to grow from USD 8.40 billion in 2023 to USD 12.41 billion by 2031, growing at a CAGR of 5% in the forecast period (2024- 2031).

The competitive landscape of the continuous glucose monitoring devices market is characterized by intense rivalry among key players aiming to capture a significant share. Industry leaders like Abbott, Dexcom, and Medtronic maintain dominant positions owing to their extensive product portfolios, technological innovation, and established market presence. These companies continuously invest in research and development to enhance device accuracy, user-friendliness, and connectivity. 'Abbott (USA)', 'Dexcom (USA)', 'Medtronic (Ireland)', 'Roche Diagnostics (Switzerland)', 'Senseonics Holdings (USA)', 'Lifespan (South Korea)', 'Ascensia Diabetes Care (Switzerland)', 'Nemaura Medical (UK)', 'Ypsomed (Switzerland)', 'Glysens (USA)', 'Tandem Diabetes Care (USA)', 'MedAngel (Belgium)', 'Bigfoot Biomedical (USA)', 'Novo Nordisk (Denmark)', 'Sensionics (USA)', 'MicroPort (China)', 'Insulet Corporation (USA)', 'GluSense (Israel)', 'DarioHealth (USA)', 'Admetsys (USA)'

The increasing prevalence of diabetes is a significant driver, necessitating effective monitoring and management solutions like continuous glucose monitoring devices.

Integration with Digital Health Platforms: Continuous glucose monitoring devices are increasingly being integrated with digital health platforms, allowing users to track and manage their data seamlessly alongside other health metrics.

Expected to capture the leading market share of 38.9% in 2022, the North American region is poised to maintain its preeminence throughout the projected period. This region's growth trajectory is propelled by the mounting prevalence of diabetes and proactive endeavors undertaken by national governments to address the challenge on a broader scale.

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Continuous Glucose Monitoring Devices Market Size, Share, Growth Analysis, By Component(Transmitters, Sensors, Receivers), By End-Use(Hospitals, Home Care, Others), By Region - Industry Forecast 2024-2031

Continuous Glucose Monitoring Devices Market News

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