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The global continuous glucose monitoring market size is expected to reach USD 13219.28 million in 2032, and register a revenue CAGR of 6.5%.

NEW YORK, NEW YORK, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- In recent years, The Continuous Glucose Monitoring Market revenue has been rapidly driven by the rising prevalence of diabetes, especially type 2 diabetes. The need for continuous glucose monitoring devices is increasing due to the increasing incidence of diabetes worldwide. Continuous glucose monitoring devices have several advantages, including their ability to prevent hypoglycemia, reduce complications, and improve patients' quality of life, which is making them more popular among individuals. The development of sophisticated sensors, algorithms, and mobile applications is also contributing to the growth of the continuous glucose monitoring market. The integration of these devices with insulin pumps and other diabetes care systems is further contributing to their rising popularity. Additionally, the growing demand for telemedicine and remote patient monitoring services has increased the adoption rate of these devices. Nevertheless, some constraints, such as high device costs and a lack of awareness in emerging nations, are limiting the revenue growth of the continuous glucose monitoring market. Despite these constraints, the market is expected to experience significant revenue growth during the forecast period, owing to factors such as an increase in the prevalence of diabetes, technological advancements, the adoption of remote patient monitoring, and favorable reimbursement regulations.

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Segments Covered in the Report –
This report provides an analysis of the global continuous glucose monitoring market from 2019 to 2032. The report includes historical data and forecasts revenue growth at the global, regional, and country level. The market has been segmented based on product type, end-use, and region.

Based on product type, the market has been segmented into standalone and integrated continuous glucose monitoring devices. In terms of end-use, the market has been segmented into hospitals, clinics, home care settings, academic and research institutes, and others.

The regional outlook for the market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The country-level outlook includes the U.S., Canada, U.K., Germany, France, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, and Turkey.

The increasing prevalence of diabetes, particularly type 2 diabetes, is driving the continuous glucose monitoring market revenue growth. The World Diabetes Federation estimates that there were 463 million diabetics worldwide in 2019, and this number is expected to reach 700 million by 2045. The demand for continuous glucose monitoring devices has increased due to their ability to more accurately and continuously monitor blood glucose levels, prevent hypoglycemia, and lower the risk of complications, thereby improving patients’ quality of life.

The continuous glucose monitoring market is also expected to experience revenue growth due to the increasing adoption of telemedicine and remote patient monitoring services. Continuous glucose monitoring devices have higher adoption rates and a growing market due to their ability to perform remote monitoring and the ease with which they can be used to access healthcare services.

However, high device costs and a lack of awareness in emerging nations are limiting market revenue growth. The prohibitive price of continuous glucose monitoring devices is a barrier to utilization by poor communities and low-income nations. A lack of education and training among medical practitioners is also a factor in the low uptake and utilization rates of continuous glucose monitoring devices.

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Strategic development:
Abbott Laboratories received FDA approval on May 13th, 2021, for their FreeStyle Libre 2 iOS app. This app allows for real-time glucose monitoring on iPhones and iPads, while also permitting users to set alerts for low and high glucose levels, and share their data with healthcare professionals and caregivers.

Dexcom Inc. announced on April 16th, 2021, that it had signed a collaboration agreement with Insulet Corporation to incorporate its CGM technology into Insulet's Omnipod Horizon system. The integration will enable users to automatically adjust their insulin dosage based on real-time glucose data.
Medtronic plc acquired Companion Medical, a company specializing in developing smart insulin pens, in 2020. The purchase aimed to integrate Companion Medical's technology into Medtronic's CGM systems, providing users with a more comprehensive diabetes management solution.

Senseonics Holdings Inc. launched the latest version of its Eversense CGM system in 2021. The system features a smaller sensor and longer sensor life, making it the only implantable CGM system available in the market, providing users with a hassle-free and long-term glucose monitoring solution.

In 2021, Insulet Corporation launched the Omnipod DASH system, which incorporates Dexcom's G6 CGM technology into its insulin delivery system. The system features a tubeless, wearable insulin pump that can be controlled through a mobile app, providing real-time glucose data to help users make informed decisions about their insulin dosage.

Ypsomed AG released the latest version of its mylife YpsoPump in 2020, featuring a touchscreen display and a compact design. The mylife YpsoPump integrates with Dexcom's G6 CGM technology, allowing users to manage their insulin dosage based on real-time glucose data.

In 2020, Roche Diagnostics launched the Accu-Chek SugarView app. The app enables users to track their glucose levels and receive personalized insights and guidance. Using data from Roche's Accu-Chek CGM systems, the app provides users with real-time glucose data and actionable insights.

Competitive Landscape:
The global continuous glucose monitoring market is anticipated to experience substantial growth during the forecast period of 2019 to 2032, owing to the presence of several key players accounting for a significant share of the market revenue. In order to augment their market presence and expand their product offerings, these players are utilizing different strategies such as mergers and acquisitions, strategic agreements and contracts, and product launches. The global continuous glucose monitoring market report highlights some major companies, including Abbott Laboratories, Dexcom Inc., Medtronic plc, Senseonics Holdings Inc., Insulet Corporation, Ypsomed AG, GlySens Inc., Nemaura Medical Inc., Echo Therapeutics, and Roche Diagnostics.

Recent developments in the market include Abbott Laboratories' announcement of the U.S. FDA approval for its latest FreeStyle Libre 2 iOS app, which allows real-time glucose monitoring on iPhones and iPads. Dexcom Inc. signed a collaboration agreement with Insulet Corporation to integrate its CGM technology into Insulet's Omnipod Horizon system, and Medtronic plc acquired Companion Medical to integrate its technology into its CGM systems. Meanwhile, Senseonics Holdings Inc. launched the latest version of its Eversense CGM system, Insulet Corporation launched its Omnipod DASH system, and Ypsomed AG launched the latest version of its mylife YpsoPump. Roche Diagnostics launched the Accu-Chek SugarView app, which provides users with real-time glucose data and personalized insights and guidance, using data from its Accu-Chek CGM systems. These developments indicate a dynamic and competitive market with promising opportunities for growth in the near future.

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