NEWARK, April 17, 2023 (GLOBE NEWSWIRE) — The global continuous blood glucose monitoring system market will grow from USD 7,914.82 million in 2022 to USD 26,023.61 billion by 2032, according to a report published by The Brainy Insights. It is projected to grow to US$1 million. 12.64% during the forecast period 2023-2032.
A continuous glucose monitoring system is minimally invasive and offers a simple and effective approach to controlling diabetes. A continuous glucose monitoring system has a transmitter and one or more receivers that measure and display blood glucose levels that the patient can use to modify their insulin dosage and lifestyle. These systems can also capture extreme differences in blood sugar levels and control hypoglycemia. Continuous glucose monitoring systems use sensors to analyze blood sugar levels over various periods of time. By wirelessly entering individual measurements into diabetes management software, patients can learn more about their disease and be able to manage it more effectively.
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Learn more about report coverage
|Market size in 2022||US$7,914.82 million|
|Market size in 2032||US$26,023.61 million|
|number of pages in the report||237|
|Target segment||Components, Demographics, Applications, and End Users|
The expansion of the CGM market is related to the increasing incidence of diabetes mellitus and the growing understanding among end-users, such as diabetics and medical professionals, of the function of continuous glucose monitoring systems in diabetes management. There is a possibility that As a result, this also helps improve the acceptance rate of his CGM system. Increased government investment, improved understanding of diabetes prevention care, and the launch of modern systems/devices are fueling the growth of the CGM market. Another factor that has increased the demand for CGM during the COVID-19 outbreak is the issuance of guidelines for the use of blood glucose meters at home and the installation of his CGM in hospitals.
Prominent industry players are currently aiming to take approaches such as mergers and acquisitions, collaborations, partnerships, joint ventures, product innovations, and recent developments to boost market conditions in the global Continuous Glucose Monitoring Systems market. I’m here.
• July 2022 – Empower Clinics Inc., one of the leaders in at-home testing solutions, launches the Empower Blood Glucose Monitor. This tiny medical device helps measure the amount of glucose in your blood.
• September 2022 – Nemaura Medical, Inc., one of the world’s leading medical technology organizations, has declared a definitive agreement with EVERSANA. The agreement covers the global and U.S. distribution of Nemaura’s diabetes management solutions.
• November 2022 – Senseonics Holdings, Inc., a leading medical technology organization, has partnered with the Nurse Practitioner Group (NPG). The partnership aims to expand patient access by offering home and office insertion options for the Eversense E3 Continuous Glucose Monitoring (CGM) system.
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Market growth and trends
Developments and inventions in the medical device industry to create continuous glucose monitoring systems have created opportunities for the CGM systems market. The increase in CGMs companies and the continuous evolution of glucose monitoring systems (CGMs) are continuously boosting the growth of he CGMs market. For example, in September 2022, medical technology company GlucoRx and UK-based Cardiff University developed a non-invasive, multi-sensor continuous blood glucose monitoring (CGM) system. The system uses radio frequency technology and a multi-sensory approach to accurately and non-invasively measure blood glucose levels down to the minute.
In addition, changes in the ongoing glucose monitoring system (CGM) market share are expected to be driven by the increasing prevalence of diabetes, increasing diagnostic needs, an aging population, and increasing unmet medical requirements. increase. Factors such as increasing acceptance in the healthcare system and increasing understanding of continuous glucose monitoring systems are further driving the growth of the market.
• In 2022, the sensor segment will account for the largest share of the market, accounting for 41.86%, with a market revenue of USD 3,313.14 million.
The Components segment is classified into sensors, transmitters, receivers, and insulin pumps. In 2022, the sensor segment will account for the largest market share, accounting for 41.86%, with a market revenue of USD 3,313.14 million.
• In 2022, the adult population segment dominated the market with the largest share of 74.58% and market revenue of USD 5,902.87 million.
The demographic segment includes child population and adult population. In 2022, the adult population segment dominated the market with her largest share of 74.58% and her market revenue of US$5.9287 billion.
• In 2022, the type 2 diabetes segment will lead the market with the largest share of 52.71% and market revenue of USD 4,171.9 million.
Applications are divided into type 1 diabetes, type 2 diabetes, and gestational diabetes. In 2022, the type 2 diabetes segment will lead the market with his largest share of 52.71% and market revenue of US$4,171.9 million.
• In 2022, the home healthcare segment recorded the largest market share of 51.63% and market revenue of USD 4,086.42 million.
The end-user segment consists of home healthcare, hospitals, and others. In 2022, the home healthcare segment dominated the market with his largest share of 51.63% and his market revenue of US$4,086.42 million.
Regional Segment Analysis For Continuous Glucose Monitoring Systems Market
• North America (USA, Mexico, Canada)
• Europe (Germany, Italy, France, Spain, UK, rest of Europe)
• Asia Pacific (India, China, Japan, rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region recorded the largest market share, with 39.61% revenue in 2022 and market revenue of US$3,135.06 million. Rising incidence of diabetes and increased efforts by governments to control diabetes on a broader scale are expected to drive uplift in the region. North America is projected to thrive due to new technological developments, significant research, and inventions in diabetes treatment.
Asia Pacific is projected to register the highest CAGR of 14.6% during the forecast period. The increasing number of diabetic patients in developing countries such as China and India is boosting the market expansion in this region. In addition, heavy investment by industry players, rising healthcare spending, and promising regulatory approaches in the Asia-Pacific region are expected to drive the market uptrend during the forecast period.
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Major players in the global Continuous Blood Glucose Monitoring Systems market are:
• Abbott Laboratories
• A. Menarini Diagnostics Srl
• Ascensia Diabetes Care
• B Braun Melsungen AG
• DexCom, Inc.
• Echo Therapeutics, Inc.
• F. Hoffmann-La Roche
• GNC Holdings, LLC
• Insulet Corporation
• Johnson & Johnson
• Lifescan IP Holdings LLC
• Medtronic plc
• Medtrum Technologies, Inc.
• Nemaura Medical Co., Ltd.
• Novo Nordisk A/S
• NXP Semiconductors
• One Drop (Sano)
• Senseonics Holdings, Inc.
• ST Microelectronics
• Terumo Corporation
•Tandem Diabetes Care
• Ypsomed AG
The study forecasts global, regional and national revenues from 2019 to 2032. Brainy Insights has segmented the global continuous glucose monitoring system market based on the following segments:
Global Continuous Glucose Monitoring Systems Market by Component:
• Insulin pump
Global Continuous Glucose Monitoring Systems Market by Demographics:
• Child population
• Adult population
Global Continuous Glucose Monitoring Systems Market by Application:
• Type 1 diabetes
• Type 2 diabetes
• gestational diabetes
Global Continuous Blood Glucose Monitoring Systems Market by End-Users:
• home health care
About the report:
The global continuous glucose monitoring system market is analyzed based on value (million USD), volume (K units). All segments are analyzed globally, by region, and by country. The study includes analysis of over 30 countries for each part. This report analyzes opportunities, challenges, drivers and constraints to gain key insights on the market. The study includes Porter’s five forces model, raw material analysis, supply and demand analysis, distribution analysis, competitor position grid analysis, attractiveness analysis, and marketing channel analysis.
About The Brainy Insights:
Brainy Insights is a market research company that aims to provide companies with actionable insights through data analytics to improve business insight. We have robust forecasting and estimating models to meet our clients’ goals of delivering high quality output in a short period of time. We offer both customized (client-specific) and syndicated reports. Syndicated report repositories are diverse across all categories and subcategories across domains. Our customized solutions are tailored to meet client requirements, whether they are looking to expand or plan to launch new products in the global market.
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