CGM Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Global Continuous Glucose Monitoring (CGM) Market is segmented by Component (Sensors, Durables (Receivers and Transmitter)) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America). The report offers the value (in USD million) for the above segments.

Continuous Glucose Monitoring (CGM) Market Size

Continuous Glucose Monitoring Market Summary
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Study Period 2018 - 2028
Market Size (2023) USD 7.43 Billion
Market Size (2028) USD 12.25 Billion
CAGR (2023 - 2028) 10.52 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Continuous Glucose Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Need a report that reflects how COVID-19 has impacted this market and its growth?

Continuous Glucose Monitoring (CGM) Market Analysis

The Continuous Glucose Monitoring (CGM) Market size is expected to grow from USD 7 billion in 2023 to USD 12.25 billion by 2028, at a CAGR of 10.52% during the forecast period (2023-2028).

COVID-19 is a life-threatening infection caused by the virus. Globally due to COVID the Continuous Glucose Monitoring (CGM) devices market has increased. According to the Centers for Disease Control and Prevention, in the United States diabetes patient's hospitalization risk increased by threefold and the twofold risk of high severity. In March 2020, the United States Government Food and Drug Administration (FDA) issued a policy to expand the availability of noninvasive glucose monitoring devices mainly in hospitals. The usage of CGM devices in hospitals increased over the period since the governments supported the hospitals to monitor diabetes patients without contacting the patient. Globally, during the COVID-19 pandemic, the usage of CGM devices in ICUs has increased.

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.

Governments around the world developed programs to educate diabetes patients and health care providers about the usage of continuous glucose monitoring devices. The German government provides training through 'Diabetes Care and Education Specialists' under the names Flash, Spectrum, and other programs to train diabetes patients as well as other health care providers on how to use continuous glucose monitoring devices. A study in Korea conducted by the Korean Association of Diabetes Nurse Educators stated that the 'diabetes education program on how to use the Continuous Glucose Monitoring Devices increased the usage of devices'.

Continuous Glucose Monitoring Devices awareness programs are conducted globally and the technological advancements in CGM devices boosting the CGM devices market in the forecast period.

Continuous Glucose Monitoring (CGM) Market Trends

This section covers the major market trends shaping the Continuous Glucose Monitoring (CGM) Market according to our research experts:

Sensors are Expected to Witness Growth Over the Forecast Period

Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated to the transmitter. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period.

The COVID-19 pandemic emphasizes the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from the viral illness. According to a research study by Joost van der Linden et al., published in Diabetes Technology & Therapeutics Journal in March 2021, population-level real-time continuous glucose monitoring (rtCGM) was used to monitor changes in glycemic control with temporal and geographic specificity. The COVID-19 pandemic is associated with improvements in time-in-range (TIR), which were not evenly distributed across the United States.

Globally, diabetes mellitus has been of wide concern with its high global prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments. Continuous glucose monitoring has become a popular alternative to the portable finger-prick glucometers available in the market for the convenience of diabetic patients. According to a research study by Ziyi Yu et al., published in IOP Science Journal in March 2021, a large variety of promising glucose-sensing technologies from traditional electrochemical-based glucose sensors to novel optical and other electrical glucose sensors has been developed which shows a positive impact on the market growth.

Furthermore, the current continuous glucose monitoring devices can either retrospectively display the trends in the levels of blood glucose by downloading the data or give a real-time picture of glucose levels through receiver displays. Continuous glucose monitoring devices are becoming cheaper with the advent of new technologies, like cell phone integration, which is likely to drive the segment growth during the forecast period.

The market players are adopting various strategies such as collaborations, partnerships, mergers, acquisitions, and expansions to increase market share. For instance, in March 2019, WaveForm Technologies Inc., a developer of novel products for continuous glucose monitoring, and A. Menarini Diagnostics S.r.l., a leading diagnostics company, entered a partnership to commercialize the WaveForm Technologies Continuous Glucose Monitor (CGM). Thus, owing above-mentioned factors it is expected to drive the segment growth over the forecast period.

Continuous Glucose Monitoring Market : Revenue in USD million, Sensors, (2022 - 2027)

North America is Expected to Dominate the Insulin Delivery Devices Market.

Some of the factors that are driving the market growth in the North American region include increasing cases of diabetes and efforts taken by the national government to manage the disease at a larger level along with rising adoption of alternate and novel devices and the presence of key market players.

According to a research study by Sandip Garg et al., published in Diabetes Technology & Therapeutics Journal in March 2021, the COVID-19 pandemic has exposed vulnerabilities and placed tremendous financial pressure on nearly all aspects of the United States health care system. Diabetes care is an example of the confluence of the pandemic and the heightened importance of technology in changing care delivery. It has been estimated the added total direct United States medical cost burden due to COVID-19 ranges between USD 160B (20% of the population infected) and USD 650B (80% of the population infected) throughout the pandemic.

As per Diabetes Canada, in 2021, there were around 11.7 million Canadians with diabetes or prediabetes, and more than 5.7 million Canadians living with diagnosed diabetes (type 1 or type 2 diabetes). As the trends show a higher number of diabetic patients using insulin pumps for diabetes management, it can be predicted that the number of units of continuous glucose monitoring devices sold will also follow. In April 2020, Abbott Laboratories and Dexcom, Inc. received United States Food and Drug Administration (FDA) approval to use continuous glucose monitoring in United States hospitals for Coronavirus-affected people. Dexcom began shipping continuous glucose monitoring devices to hospitals in April 2020 and plans to make 100,000 sensors to sell to hospitals at low cost and planned to donate 10,000 phones and continuous glucose monitoring readers to hospitals for scanning those sensors. Thus, owing to the above factors it is expected to drive the market growth over the forecast period.

Continuous Glucose Monitoring (CGM) Market Size

Continuous Glucose Monitoring (CGM) Industry Overview

The Continuous Glucose Monitoring (CGM) Market is consolidated and competitive with few players accounting for a major share. A major share of the market is held by CGM manufacturers that are concomitant 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

  1. Medtronic Plc

  2. Dexcom, Inc.

  3. Abbott Laboratories

  4. Senseonics Holdings, Inc.

  5. Medtrum Technologies, Inc.

*Disclaimer: Major Players sorted in no particular order

Continuous Glucose Monitoring Market Concentration

Continuous Glucose Monitoring (CGM) Market News

In March 2022, the Ontario (Canada State) provincial government announced a comprehensive reimbursement program for continuous glucose monitoring (CGM) for eligible residents living with type 1 diabetes.

In December 2021, the U.S. Centers for Medicare & Medicaid Services (CMS) announced an expansion of Medicare coverage for all types of continuous glucose monitors (CGMs), including adjunctive and non-adjunctive CGMs. This includes CGMs that integrate with Medtronic insulin pumps. The updated rule went into effect in February 2022.

Continuous Glucose Monitoring (CGM) Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Cases of Diabetes

      2. 4.2.2 Increasing Adoption of Continuous Glucose Monitoring (CGM) Devices

    3. 4.3 Market Restraints

      1. 4.3.1 Inconsistency of Medicare Reimbursement

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Component

      1. 5.1.1 Sensors

      2. 5.1.2 Durables (Receivers and Transmitter)

    2. 5.2 Geography

      1. 5.2.1 North America

        1. 5.2.1.1 United States (Value and Volume,2016-2027)

        2. 5.2.1.2 Canada (Value and Volume, 2016-2027)

        3. 5.2.1.3 Rest of North America (Value and Volume, 2016-2027)

      2. 5.2.2 Europe

        1. 5.2.2.1 France (Value and Volume, 2016-2027)

        2. 5.2.2.2 Germany (Value and Volume, 2016-2027)

        3. 5.2.2.3 Italy (Value and Volume, 2016-2027)

        4. 5.2.2.4 Spain (Value and Volume, 2016-2027)

        5. 5.2.2.5 United Kingdom (Value and Volume, 2016-2027)

        6. 5.2.2.6 Russia (Value and Volume, 2016-2027)

        7. 5.2.2.7 Rest of Europe (Value and Volume, 2016-2027)

      3. 5.2.3 Latin America

        1. 5.2.3.1 Mexico (Value and Volume, 2016-2027)

        2. 5.2.3.2 Brazil (Value and Volume, 2016-2027)

        3. 5.2.3.3 Rest of Latin America (Value and Volume, 2016-2027)

      4. 5.2.4 Asia-Pacific

        1. 5.2.4.1 Japan (Value and Volume, 2016-2027)

        2. 5.2.4.2 South Korea (Value and Volume, 2016-2027)

        3. 5.2.4.3 China (Value and Volume, 2016-2027)

        4. 5.2.4.4 India (Value and Volume, 2016-2027)

        5. 5.2.4.5 Australia (Value and Volume, 2016-2027)

        6. 5.2.4.6 Vietnam (Value and Volume, 2016-2027)

        7. 5.2.4.7 Malaysia (Value and Volume, 2016-2027)

        8. 5.2.4.8 Indonesia (Value and Volume, 2016-2027)

        9. 5.2.4.9 Philippines (Value and Volume, 2016-2027)

        10. 5.2.4.10 Thailand (Value and Volume, 2016-2027)

        11. 5.2.4.11 Rest of Asia-Pacific (Value and Volume, 2016-2027)

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia (Value and Volume, 2016-2027)

        2. 5.2.5.2 Iran (Value and Volume, 2016-2027)

        3. 5.2.5.3 Egypt (Value and Volume, 2016-2027)

        4. 5.2.5.4 Oman (Value and Volume, 2016-2027)

        5. 5.2.5.5 South Africa (Value and Volume, 2016-2027)

        6. 5.2.5.6 Rest of Middle-East and Africa (Value and Volume, 2016-2027)

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Dexcom, Inc.

      3. 6.1.3 A. Menarini Diagnostics

      4. 6.1.4 Echo Therapeutics, Inc.

      5. 6.1.5 GlySens Incorporated

      6. 6.1.6 Johnson and Johnson

      7. 6.1.7 Medtronic Plc

      8. 6.1.8 Senseonics Holdings, Inc.

      9. 6.1.9 F. Hoffmann-La Roche Ltd

      10. 6.1.10 Ypsomed AG

      11. 6.1.11 Insulet Corporation

      12. 6.1.12 Medtrum Technologies, Inc.

      13. 6.1.13 Tandem Diabetes Care

      14. 6.1.14 Nemaura Medical, Inc

      15. 6.1.15 Texas Instruments Inc

    2. 6.2 Company Share Analysis

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

Continuous Glucose Monitoring (CGM) Industry Segmentation

The Continuous Glucose Monitoring (CGM) Market is segmented by Type (Sensors, Durables (Receivers and Transmitter)) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America). The report offers the value (in USD million) for the above segments. The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 25 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Component
Sensors
Durables (Receivers and Transmitter)
Geography
North America
United States (Value and Volume,2016-2027)
Canada (Value and Volume, 2016-2027)
Rest of North America (Value and Volume, 2016-2027)
Europe
France (Value and Volume, 2016-2027)
Germany (Value and Volume, 2016-2027)
Italy (Value and Volume, 2016-2027)
Spain (Value and Volume, 2016-2027)
United Kingdom (Value and Volume, 2016-2027)
Russia (Value and Volume, 2016-2027)
Rest of Europe (Value and Volume, 2016-2027)
Latin America
Mexico (Value and Volume, 2016-2027)
Brazil (Value and Volume, 2016-2027)
Rest of Latin America (Value and Volume, 2016-2027)
Asia-Pacific
Japan (Value and Volume, 2016-2027)
South Korea (Value and Volume, 2016-2027)
China (Value and Volume, 2016-2027)
India (Value and Volume, 2016-2027)
Australia (Value and Volume, 2016-2027)
Vietnam (Value and Volume, 2016-2027)
Malaysia (Value and Volume, 2016-2027)
Indonesia (Value and Volume, 2016-2027)
Philippines (Value and Volume, 2016-2027)
Thailand (Value and Volume, 2016-2027)
Rest of Asia-Pacific (Value and Volume, 2016-2027)
Middle-East and Africa
Saudi Arabia (Value and Volume, 2016-2027)
Iran (Value and Volume, 2016-2027)
Egypt (Value and Volume, 2016-2027)
Oman (Value and Volume, 2016-2027)
South Africa (Value and Volume, 2016-2027)
Rest of Middle-East and Africa (Value and Volume, 2016-2027)

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Continuous Glucose Monitoring (CGM) Market Research FAQs

The Continuous Glucose Monitoring (CGM) Market size is expected to reach USD 7.43 billion in 2023 and grow at a CAGR of 10.52% to reach USD 12.25 billion by 2028.

In 2023, the Continuous Glucose Monitoring (CGM) Market size is expected to reach USD 7.43 billion.

Medtronic Plc, Dexcom, Inc., Abbott Laboratories, Senseonics Holdings, Inc. and Medtrum Technologies, Inc. are the major companies operating in the Continuous Glucose Monitoring (CGM) Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Continuous Glucose Monitoring (CGM) Market.

CGM Industry Report

Statistics for the 2023 CGM market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. CGM analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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