Continuous Glucose Monitoring (CGM) Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 11.63 Billion |
| Market Size (2029) | USD 21.34 Billion |
| CAGR (2024 - 2029) | 12.89 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Continuous Glucose Monitoring (CGM) Market Analysis
The Continuous Glucose Monitoring Market size is estimated at USD 11.63 billion in 2024, and is expected to reach USD 21.34 billion by 2029, growing at a CAGR of 12.89% during the forecast period (2024-2029).
Diabetes accounts for a significant portion of healthcare spending, thus requiring increased epidemiological surveillance, treatment, and preventive measures. Various companies are helping to reduce these costs and improve the health and well-being of people through programs that target disease prevention and management, hence expected to fuel the growth of the continuous glucose monitoring devices market. Diabetes is anticipated to persist as a significant concern in the forthcoming years, mainly attributed to lifestyle changes. Type 1 diabetes is strongly linked to a family history of the condition in a few countries like the United States, and India, but the exact cause is unknown. Nonmodifiable factors increase the risk for type 1 diabetes, although maintaining a healthy lifestyle is important for managing the symptoms and long-term complications associated with the condition. Thus, diabetes prevalence globally is projected to see significant growth during the forecast period thus boosting the market for monitoring devices such as continuous glucose monitors (CGMs) for effective disease control and management.
According to the International Diabetes Federation (IDF), the African region is projected to witness a 134% surge in the diabetic population from 2021 to 2045, whereas North America and the Caribbean are expected to experience a 24% increase in the disease population. Additionally, by 2045, China is likely to have the highest number of individuals affected by diabetes globally. Similarly, according to the International Diabetes Federation 2022 reports, the prevalence of diabetes in adults in the United States was about 11.8% in 2022. Thus, such a high prevalence is expected to drive the demand for continuous glucose monitoring (CGM) devices for effective disease control, thereby augmenting market growth over the forecast period.
Continuous Glucose Monitoring Devices help type-1 and type-2 diabetes patients to manage their diabetes with lesser fingerstick tests. It is a wearable technology device to track glucose levels through apps. Most CGM devices take readings every five to ten minutes all day long. CGM devices have a wireless transmitter to transfer the glucose data from the sensor to the receiver.
Therefore, with the rising prevalence of diabetes and the rising demand for continuous glucose monitoring devices is anticipated to bolster the market growth over the forecast period.
Continuous Glucose Monitoring (CGM) Market Trends
The Sensors Segment is Expected to Hold a Major Market Share Over the Forecast Period
The CGM sensor is a device that can be implanted beneath the patient's skin, typically on the belly or arm, using an adhesive patch to secure it in place. These sensors are designed for single-use and are referred to as disposable sensors.
Alternatively, there is another type of CGM sensor known as an implantable sensor, which can be inserted inside the patient's body. These sensors measure the glucose level in the fluid surrounding the cells, which closely corresponds to the glucose level in the patient's blood. Depending on the specific sensor type, they need to be replaced at regular intervals, such as every few weeks.
New innovations in the continuous glucose monitoring sensor devices market are further driving the market growth. For instance, in March 2024, Dexcom has recently revealed that the Food and Drug Administration (FDA) has granted clearance for their latest over-the-counter continuous glucose monitor, known as Stelo. This innovative CGM is specifically tailored for individuals with Type 2 diabetes who do not rely on insulin, making it a groundbreaking development in the field. Notably, Stelo is the first glucose biosensor that can be obtained without a prescription, providing greater accessibility for patients. Anticipated to hit the market by end of 2024, individuals will have the opportunity to purchase Stelo and benefit from its advanced features.
Similarly, in February 2024, Dexcom ONE+ system is accessible in Spain, Belgium, and Poland, with plans for a future launch in the Netherlands and other European countries. In certain regions, Dexcom ONE+ will be taking the place of the earlier Dexcom ONE sensor. Dexcom ONE+ utilizes most precise sensor technology. company considered input from both users and medical experts during the development of Dexcom ONE+, ensuring a user-friendly and highly efficient CGM solution for individuals managing their Type 1 or Type 2 diabetes with insulin.
Therefore, the launch of such devices using advanced technologies may propel the market growth during the forecast period.
North America is Expected to Dominate the CGM Device Market
The North American region possesses a highly sophisticated healthcare infrastructure with an extensive network of advanced hospitals and diabetes care facilities well-equipped with cutting-edge technology, facilitating the widespread adoption of continuous glucose monitoring products.
The region is expected to have significant market growth over the forecast period, mainly attributed to the rising in prevalence of chronic diseases like diabetes, and the increase in technological advancements are expected to boost market growth over the forecast period. In addition, market growth is also fueled by the increasing geriatric population, and rising focus on non-invasive monitoring. The prevalence of diabetes has increased in the United States dramatically in the recent years. For instance, according to a report published by the National Institute of Diabetes and Digestive and Kidney Diseases in January 2024, in 2022, 38.4 million people of all ages had diabetes (11.6% of the population) in the country. Among these, 38.1 million were adults ages 18 years or older. Moreover, over 29.7 million people of all ages had been diagnosed with diabetes (8.9% of the population).
Similarly, according to a report published by the Diabetes Canda in July 2023, more than 11.9 million people in Canada living with diabetes or prediabetes. These rising prevalence of diabetes in the country are creating the demand for continuous glucose monitoring, thereby propelling the growth of the continuous glucose monitoring market.
Several key players of the market are present in the country like Dexcom, Inc., Abbott, Signos, Inc., and Sensenics Holdings, Inc., who are constantly working on innovating novel technologies to capture a higher market share. This is expected to increase the demand of continuous glucose monitoring devices, thereby propelling the market growth. For instance, in March 2024, the FDA greenlit marketing for the Dexcom Stelo Glucose Biosensor System, making it one of the first over-the-counter (OTC) continuous glucose monitor (CGM) available for purchase. The device will be available summer 2024.
In conclusion, the increasing prevalence of diabetes in North America is driving significant growth in the continuous glucose monitoring market, fueled by advancements in technology, with key players continually innovating new technologies.
Continuous Glucose Monitoring (CGM) Industry Overview
The continuous glucose monitoring market is consolidated and consists of few major players. Some companies currently dominating the market are Dexcom, Abbott, and Medtronic in the market. A major share of the market is held by CGM manufacturers that are concurrent with strategy-based M&A operations and are constantly entering new markets to generate new revenue streams and boost existing ones. These measures taken by the market players will ensure a competitive marketplace, therefore, forcing the companies to experiment with more new technologies, to ensure uniqueness in their products. Also, one of the implications of the competition in the market is that it will ensure a constant decrease in the average selling price of the CGM units produced. Also, companies are collaborating to increase their technological know-how and to fasten the product development cycle.
Continuous Glucose Monitoring (CGM) Market Leaders
Medtronic Plc
Dexcom, Inc.
Abbott Laboratories
Senseonics Holdings, Inc.
Roche
*Disclaimer: Major Players sorted in no particular order
Continuous Glucose Monitoring (CGM) Market News
- In March 2024, The Dexcom Stelo Glucose Biosensor System, an integrated CGM (iCGM), was granted marketing clearance by the U.S. Food and Drug Administration. The device is designed for individuals aged 18 and above who do not require insulin, including those with diabetes managing their condition through oral medications and those without diabetes who wish to gain insights into the effects of diet and exercise on their blood sugar levels.
- In May 2023, Dexcom showcased G6 CGM at the 66th Annual Meeting of the Japan Diabetes Society. This system offers real-time glucose data to diabetes patients without the need to prick the finger.
Continuous Glucose Monitoring (CGM) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component
5.1.1 Sensors
5.1.2 Durables (Receivers and Transmitter)
5.2 End User
5.2.1 Hospital/Home
5.2.2 Home/Personal
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 France
5.3.2.2 Germany
5.3.2.3 Italy
5.3.2.4 Spain
5.3.2.5 United Kingdom
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Latin America
5.3.3.1 Mexico
5.3.3.2 Brazil
5.3.3.3 Rest of Latin America
5.3.4 Asia-Pacific
5.3.4.1 Japan
5.3.4.2 South Korea
5.3.4.3 China
5.3.4.4 India
5.3.4.5 Australia
5.3.4.6 Vietnam
5.3.4.7 Malaysia
5.3.4.8 Indonesia
5.3.4.9 Philippines
5.3.4.10 Thailand
5.3.4.11 Rest of Asia-Pacific
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 Iran
5.3.5.3 Egypt
5.3.5.4 Oman
5.3.5.5 South Africa
5.3.5.6 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott
6.1.2 Dexcom, Inc.
6.1.3 A. Menarini Diagnostics s.r.l
6.1.4 Ypsomed Holding AG
6.1.5 F. Hoffmann-La Roche Ltd
6.1.6 Medtronic Plc
6.1.7 Senseonics Holdings, Inc.
6.1.8 Medtrum Technologies
6.1.9 Nemaura Medical, Inc
6.1.10 i-Sens, Inc.
- *List Not Exhaustive
6.2 Company Share Analysis
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Continuous Glucose Monitoring (CGM) Industry Segmentation
As per the scope of the report, patients can manage Type 1 or Type 2 diabetes with the use of continuous glucose monitoring (CGM) devices by performing fewer fingerstick tests. The blood sugar levels are continuously monitored by a sensor located just under the skin. Results are sent via a transmitter to a cell phone or wearable technology. The continuous glucose monitoring market is segmented by component, end user, and geography. By component, the market is segmented into sensors and durables. The end user segment is further divided into hospitals/clinics, and home/personal. The report also covers the market sizes and forecasts for major countries across different regions. The market size is provided for each segment in terms of value (USD).
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| Sensors | |
| Durables (Receivers and Transmitter) |
| End User | |
| Hospital/Home | |
| Home/Personal |
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Continuous Glucose Monitoring (CGM) Market Research FAQs
How big is the Continuous Glucose Monitoring Market?
The Continuous Glucose Monitoring Market size is expected to reach USD 11.63 billion in 2024 and grow at a CAGR of 12.89% to reach USD 21.34 billion by 2029.
What is the current Continuous Glucose Monitoring Market size?
In 2024, the Continuous Glucose Monitoring Market size is expected to reach USD 11.63 billion.
Who are the key players in Continuous Glucose Monitoring Market?
Medtronic Plc, Dexcom, Inc., Abbott Laboratories, Senseonics Holdings, Inc. and Roche are the major companies operating in the Continuous Glucose Monitoring Market.
Which is the fastest growing region in Continuous Glucose Monitoring Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Continuous Glucose Monitoring Market?
In 2024, the North America accounts for the largest market share in Continuous Glucose Monitoring Market.
What years does this Continuous Glucose Monitoring Market cover, and what was the market size in 2023?
In 2023, the Continuous Glucose Monitoring Market size was estimated at USD 10.13 billion. The report covers the Continuous Glucose Monitoring Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Continuous Glucose Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
CGM Industry Report
Statistics for the 2024 Continuous Glucose Monitoring (CGM) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Continuous Glucose Monitoring (CGM) analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
