Continuous Glucose Monitoring Device Market Size Worth $54,735.48 Million By 2032 | CAGR: 21.8%

The global continuous glucose monitoring device market size is expected to reach USD 54,735.48 million by 2032, according to a new study by Polaris Market Research. The report “Continuous Glucose Monitoring Device Market Share, Size, Trends, Industry Analysis Report, By Component Type (Transmitters & Receivers, Sensors, and Insulin Pumps); By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global market for continuous glucose monitoring (CGM) devices has experienced a surge in demand due to the impact of the COVID-19 pandemic. The increased risks of hospitalization for diabetes patients during the pandemic have prompted governments and regulatory bodies to expand the availability of noninvasive glucose monitoring devices, particularly in hospitals. This has resulted in a significant rise in the usage of CGM devices in healthcare settings, including intensive care units (ICUs), as they allow for continuous monitoring without direct patient contact.

CGM devices are wearable technologies that provide valuable assistance to both type-1 and type-2 diabetes patients by reducing the need for frequent fingerstick tests. These devices track glucose levels continuously through smartphone apps, delivering readings every few minutes throughout the day. Utilizing wireless transmitters, they transmit glucose data from the sensor to a receiver, enabling real-time monitoring and data analysis.

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Governments worldwide have launched programs to promote the adoption of CGM devices, focusing on educating diabetes patients and healthcare providers. For instance, the German government offers training programs such as Flash and Spectrum, conducted by Diabetes Care and Education Specialists, to educate patients and healthcare professionals on the effective use of continuous glucose monitoring devices. Similarly, in Korea, a study conducted by the Korean Association of Diabetes Nurse Educators demonstrated that educational programs on CGM device usage have led to increased adoption rates.

Continuous Glucose Monitoring Device Market Report Highlights

• The sensor segment is anticipated to witness significant growth during the forecast period as technological advancements and the short lifespan of sensors are driving growth.
• Homecare diagnostics, the largest segment, is expected to maintain dominance due to awareness, convenience, rising income, and COVID-19 concerns in hospitals.
• North America is set to dominate the continuous glucose monitoring device market due to a high prevalence of diabetes and supportive factors.
• The global key market players include A. Menarini Diagnostics, Echo Therapeutics, Inc., Abbott Laboratories, Bayer AG, Dexcom, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, GlySens Incorporated, Insulet Corporation, Johnson & Johnson, LifeScan, Medtronic plc, Medtrum Technologies, Inc., Microchip Technology Inc., Micron Technology Inc., Nemaura Medical, Inc., Novo Nordisk, NXP Semiconductors, Qualcomm, Roche Diagnostics, Senseonics Holdings, Inc., STMicroelectronics, and Tandem Diabetes Care.

Polaris Market Research has segmented the continuous glucose monitoring device market report based on component type, end-use, and region:

Continuous Glucose Monitoring Device, Component Type Outlook (Revenue - USD Million, Volume – Million Units, 2019 - 2032)

• Transmitters & Receivers
• Sensors
• Insulin Pumps

Continuous Glucose Monitoring Device, End-Use Outlook (Revenue - USD Million, Volume – Million Units, 2019 - 2032)

• Hospitals
• Homecare Diagnostics
• Others

Continuous Glucose Monitoring Device, Regional Outlook (Revenue - USD Million, Volume – Million Units, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Continuous Glucose Monitoring Device Market Report Scope