Market Size of Europe Continuous Glucose Monitoring Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 2.04 Billion |
| Market Size (2029) | USD 3.47 Billion |
| CAGR (2024 - 2029) | 11.33 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Continuous Glucose Monitoring Market Analysis
The Europe Continuous Glucose Monitoring Market size is estimated at USD 2.04 billion in 2024, and is expected to reach USD 3.47 billion by 2029, growing at a CAGR of 11.33% during the forecast period (2024-2029).
In recent times, Europe has observed a significant rise in its diabetes population, a trend that mirrors global patterns. The prevalence of diabetes in Europe has been steadily increasing due to factors such as an aging population, changes in lifestyle habits, and genetic predispositions. This rise encompasses both type 1 and type 2 diabetes, leading to a greater demand for advanced technologies to effectively manage the condition.
A noteworthy development in diabetes management in Europe is the growing adoption of continuous glucose monitoring (CGM) devices. These devices offer a groundbreaking approach to monitoring blood glucose levels by providing real-time and continuous data. By eliminating the need for frequent fingerstick tests, CGM devices not only simplify the process but also provide individuals with valuable insights into their glucose patterns throughout the day and night.
The surge in CGM device usage across Europe can be attributed to various factors. Firstly, advancements in CGM technology have made these devices more accurate, reliable, and user-friendly, making them more appealing to individuals with diabetes. Additionally, increased awareness among healthcare professionals and patients about the benefits of CGM, such as improved glycemic control, reduced risk of hypoglycemia, and enhanced quality of life, has contributed to their widespread adoption.
Moreover, the European healthcare landscape, which emphasizes universal healthcare coverage and access to innovative medical technologies, has created a favorable environment for the expansion of the CGM market. Reimbursement policies in several European countries now include coverage for CGM devices for eligible patients, making them more accessible to a wider population.
In general, the rising number of diabetes cases in Europe, along with the increasing awareness of the advantages of continuous glucose monitoring, has led to a higher demand for CGM devices throughout the continent. This pattern is anticipated to persist in the future, stimulating more advancements in CGM technology and enhancing diabetes care results for people in Europe.
