CGM Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

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) and Volume (in Unit) for the Above Segments.

Continuous Glucose Monitoring (CGM) Market Size

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Continuous Glucose Monitoring Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 8.21 Billion
Market Size (2029) USD 13.54 Billion
CAGR (2024 - 2029) 10.52 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Continuous Glucose Monitoring (CGM) Market

*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 8.21 billion in 2024, and is expected to reach USD 13.54 billion by 2029, growing at a CAGR of 10.52% during the forecast period (2024-2029).

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

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. Thus, owing above-mentioned factors it is expected to drive the segment growth over the forecast period.

CGM sensors

North America is Expected to Dominate the CGM Device 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.

Over time, continuous glucose monitors (CGMs) have changed, and there have been exhilarating advancements in their precision, dependability, and usability. Real-time and intermittently scanned CGMs are the two primary types of CGMs, but there are some unique variations between them that you might want to take into account when selecting a system for patients. Since 1999, when the U.S. Food and Drug Administration (FDA) approved the first commercial CGM system for use by healthcare professionals, glucose-oxidase-based CGM devices have been proposed. This has made it possible to examine and analyze user data collected in the past.  

Generally, both personal and professional equipment are available on the market for continuous glucose monitoring. Every day, people who need personal CGMs utilize them. Durable receivers and transmitters as well as reusable sensors are both parts of the overall personal CGM industry. Since its release on the U.S. market more than ten years ago, personal CGM devices have grown steadily and undergone significant technological advancement. Doctors employ professional CGM's in retrospective sessions where a patient wears a CGM sensor for several days, unable to access the real-time data, and must adhere to frequent self-monitoring of blood glucose. Durable systems, transmitters, and consumable sensors are all markets for professional CGM. For the best sensor accuracy, several CGMs require fingerstick blood sugar reading calibrations; however, Abbott's FreeStyle Libre (and Libre 2) and Dexcom's G6 do not require fingerstick calibrations at this time.

Thus, owing to the above factors it is expected to drive the market growth over the forecast period.

Continuous Glucose Monitoring (CGM) Market 3

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
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Continuous Glucose Monitoring (CGM) Market News

  • October 2023: Simplera, developed by Medtronic, is the most recent continuous glucose monitoring (CGM) device designed for individuals aged 2 and above who have diabetes. Currently undergoing evaluation by the FDA for potential approval in the United States, Simplera boasts a modern and compact design, is disposable, and eliminates the need for fingersticks.
  • June 2023: The locally-produced continuous glucose monitoring device has been granted approval by the South Korean Ministry of Food and Drug Safety. I-SENS, the manufacturer of blood glucose devices, has introduced the CareSens Air, which is claimed to be the most compact and lightweight CGM device accessible in South Korea. Additionally, it has the capability to function continuously for a period of 15 days and incorporates a calibration mechanism to enhance the accuracy of readings.

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

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    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

    3. 4.3 Market Restraints

    4. 4.4 Market Technologies

    5. 4.5 Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Component

      1. 5.1.1 Sensors

      2. 5.1.2 Durables (Receivers and Transmitter)

    2. 5.2 End User

      1. 5.2.1 Hospital/Home

      2. 5.2.2 Home/Personal

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 France

        2. 5.3.2.2 Germany

        3. 5.3.2.3 Italy

        4. 5.3.2.4 Spain

        5. 5.3.2.5 United Kingdom

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Latin America

        1. 5.3.3.1 Mexico

        2. 5.3.3.2 Brazil

        3. 5.3.3.3 Rest of Latin America

      4. 5.3.4 Asia-Pacific

        1. 5.3.4.1 Japan

        2. 5.3.4.2 South Korea

        3. 5.3.4.3 China

        4. 5.3.4.4 India

        5. 5.3.4.5 Australia

        6. 5.3.4.6 Vietnam

        7. 5.3.4.7 Malaysia

        8. 5.3.4.8 Indonesia

        9. 5.3.4.9 Philippines

        10. 5.3.4.10 Thailand

        11. 5.3.4.11 Rest of Asia-Pacific

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 Iran

        3. 5.3.5.3 Egypt

        4. 5.3.5.4 Oman

        5. 5.3.5.5 South Africa

        6. 5.3.5.6 Rest of Middle-East and Africa

  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 Medtronic Plc

      7. 6.1.7 Senseonics Holdings, Inc.

      8. 6.1.8 Medtrum Technologies

      9. 6.1.9 Nemaura Medical, Inc

      10. 6.1.10 I-sense

    2. *List Not Exhaustive
    3. 6.2 Company Share Analysis

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Continuous Glucose Monitoring (CGM) Industry Segmentation

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. Continuous Glucose Monitoring Market is segmented into components (Sensors, Durables (Receivers, and Transmitters)) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and Latin America). The report offers the value (in USD) and volume (in Unit) for the above segments.

Component
Sensors
Durables (Receivers and Transmitter)
End User
Hospital/Home
Home/Personal
Geography
North America
United States
Canada
Rest of North America
Europe
France
Germany
Italy
Spain
United Kingdom
Russia
Rest of Europe
Latin America
Mexico
Brazil
Rest of Latin America
Asia-Pacific
Japan
South Korea
China
India
Australia
Vietnam
Malaysia
Indonesia
Philippines
Thailand
Rest of Asia-Pacific
Middle-East and Africa
Saudi Arabia
Iran
Egypt
Oman
South Africa
Rest of Middle-East and Africa
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Continuous Glucose Monitoring (CGM) Market Research FAQs

The Continuous Glucose Monitoring Market size is expected to reach USD 8.21 billion in 2024 and grow at a CAGR of 10.52% to reach USD 13.54 billion by 2029.

In 2024, the Continuous Glucose Monitoring Market size is expected to reach USD 8.21 billion.

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

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Continuous Glucose Monitoring Market.

In 2023, the Continuous Glucose Monitoring Market size was estimated at USD 7.43 billion. The report covers the Continuous Glucose Monitoring Market historical market size for years: 2019, 2020, 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.

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CGM Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)