Market Size of South Africa Continuous Glucose Monitoring Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 17.61 Million |
Market Size (2029) | USD 31.47 Million |
CAGR (2024 - 2029) | 12.31 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
South Africa Continuous Glucose Monitoring Market Analysis
The South Africa Continuous Glucose Monitoring Market size is estimated at USD 17.61 million in 2024, and is expected to reach USD 31.47 million by 2029, growing at a CAGR of 12.31% during the forecast period (2024-2029).
Patients with diabetes infected with COVID-19 experienced elevated blood glucose, abnormal glucose variability, and diabetic complications. The Western Cape Provincial Health Department's data on COVID-19 fatalities suggested that people with diabetes were more likely to die from COVID-19 than any other high-risk group. The provincial health department estimated that out of every 100 people within the public healthcare sector who died from COVID-19, 52 had diabetes. While new-onset hyperglycemia and new-onset diabetes have been increasingly recognized in the context of COVID-19 and have been associated with worse outcomes. To avoid aggravation, a patient's blood glucose should be monitored and maintained regularly.
The measurement of blood glucose is necessary to keep the blood glucose levels within a specified target range. Continuous glucose monitoring (CGM) helps understand the effectiveness of blood glucose metabolism and guides in achieving optimal glucose control within the body. Over time, the readings provided the patients and their health professionals with the information required to determine the best management strategy for diabetes.
Furthermore, the current continuous glucose monitoring 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. The newest CGM models, the Abbott Freestyle Libre 3 and the Dexcom G7, overcame many technical barriers. Technological advances such as Eversense E3 CGMs have significantly improved the ability of providers and patients to manage diabetes, thereby enhancing the market prospects in the years to come.
South Africa Continuous Glucose Monitoring Industry Segmentation
Achieving optimum glycemic results can be very difficult without frequent monitoring of blood glucose levels. A continuous glucose monitor tracks blood sugar levels 24 hours a day. It collects readings automatically every five to 15 minutes and detects trends and patterns to provide a complete picture of diabetes. The South Africa continuous glucose monitoring market is segmented into components (sensors and durables (receivers and transmitters)). The report offers the value (in USD) and volume (in units) for the above segments.
Component | |
Sensors | |
Durables |
South Africa Continuous Glucose Monitoring Market Size Summary
The South Africa Continuous Glucose Monitoring (CGM) market is poised for significant growth, driven by the increasing prevalence of diabetes and the rising demand for effective glucose management solutions. The market is characterized by the adoption of advanced CGM technologies, such as the Abbott Freestyle Libre 3 and Dexcom G7, which have addressed previous technical challenges and enhanced diabetes management capabilities. These innovations are crucial as they provide real-time glucose monitoring and trend analysis, enabling patients and healthcare professionals to make informed decisions about diabetes care. The market's expansion is further supported by government initiatives aimed at promoting healthy lifestyles and reducing diabetes prevalence, such as the implementation of a sugar tax and the launch of the Diabetes Prevention Programme.
The sensors segment within the CGM market is expected to experience robust growth, fueled by technological advancements and the development of more affordable, minimally invasive, and user-friendly glucose sensing solutions. Innovations in optical measurement technologies, such as fluorescence and spectroscopy, are promising alternatives to traditional electrochemical sensors, potentially enhancing the accuracy and lifespan of CGM devices. The market is also witnessing the integration of CGMs with insulin pump systems, which automate insulin delivery based on real-time glucose levels, further improving diabetes management. The competitive landscape is marked by the presence of key players like Abbott, Dexcom, and Medtronic, who are actively investing in research and development to drive market growth and improve patient outcomes.
South Africa Continuous Glucose Monitoring Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Component
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2.1.1 Sensors
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2.1.2 Durables
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South Africa Continuous Glucose Monitoring Market Size FAQs
How big is the South Africa Continuous Glucose Monitoring Market?
The South Africa Continuous Glucose Monitoring Market size is expected to reach USD 17.61 million in 2024 and grow at a CAGR of 12.31% to reach USD 31.47 million by 2029.
What is the current South Africa Continuous Glucose Monitoring Market size?
In 2024, the South Africa Continuous Glucose Monitoring Market size is expected to reach USD 17.61 million.