Global Continuous Glucose Monitoring Devices Market Report 2023: An $11.2 Billion Market by 2030 Featuring Medtronic, Dexom, F. Hoffmann-La Roche, Abbott, Ypsomed, GlySens, & Ascensia Diabetes Care - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Continuous Glucose Monitoring Devices Market Size, Share & Trends Analysis Report By Component (Transmitters, Sensors, Receivers), By End-use (Hospitals, Home Care), By Connectivity, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global continuous glucose monitoring devices market size is expected to reach USD 11.2 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030

The two primary factors propelling the market expansion are the rise in diabetes incidences and the launch of technologically advanced diabetes care devices. Continuous glucose monitoring (CGM) devices are effective to evaluate body glucose levels in real-time. These devices transmit the data they collect across a wireless network to receivers, which aids in tracking the levels of glucose during a certain time.

While lowering individual insulin dosages, these devices also assist in managing diabetes. These devices' built-in software gives users access to information on food consumption, medicine use, physical activity, and illnesses. As a result, a growing number of diabetic patients are employing these devices to control and treat their condition, which is fueling market expansion.

A growing number of continuous glucose monitoring devices are being integrated with apps and software to assist patients with diabetes mellitus as a result of the development of digital treatments. Apps such as Glucose buddy, Diabetes Connect, My Sugar, and others are available under a paid subscription.

Furthermore, the rise in the number of diabetes mellitus has contributed significantly toward the CGM systems market growth. The device allows real-time biofeedback and behavioral change support, allowing effective management of diabetes by the patient. Additionally, the government is spending a huge amount on diabetic care tools to closely monitor diabetes in patients.

For instance, according to the International Diabetes Federation, 32.2 million Americans lived with diabetes in 2021. The same source stated that diabetes-related healthcare expenditure was about 11,779.2 USD per person in the U.S., which is expected to increase to 12,184.8 USD by 2045. Such, initiatives are said to influence market growth.

Continuous Glucose Monitoring Devices Market Report Highlights

• By component, the sensors segment held a major share of the global market in 2022, owing to the integral nature of these devices
• By end-use, the home care segment dominated the market in 2022, owing to favorable reimbursement and higher adoption especially due to the outbreak of the COVID-19 pandemic, and the rise in virtual care
• The Bluetooth segment held the larger share of 56.3% in the connectivity segment, due to the need for the replacement of Bluetooth-enabled sensors and the cost associated with its manufacturing
• North America dominated the market in 2022, attributed to the wide usage of CGM devices as a result of a higher number of target patients in the region
• Europe followed North America closely in terms of market revenue due to a rise in the adoption of these devices in key countries

Market Dynamics

Market Driver Analysis

• Increasing prevalence of diabetes globally
• Technological advancements
• Favorable reimbursement scenario

Market Restraint Analysis

• High cost and low awareness

Continuous Glucose Monitoring Devices: Market Analysis Tools

• Industry Analysis - Porter's
• PESTEL Analysis
• Major Deals & Strategic Alliances Analysis

Competitive Analysis

• Medtronic
• Dexom, Inc.
• F. Hoffmann-La Roche Ltd.
• Abbott
• Ypsomed
• GlySens, Inc.
• Ascensia Diabetes Care

For more information about this report visit https://www.researchandmarkets.com/r/qmhz7g

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