Continuous Glucose Monitoring Devices (CGMD) Market 2030 | Report

Continuous Glucose Monitoring Device (CGMD) Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Product (Sensors, Transmitters, and Receivers), Application (Type 1 Diabetes and Type 2 Diabetes), Testing Site (Fingertip Testing and Alternate Site Testing), End User (Hospitals & Clinics and Self/Homecare), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

  • Report Code : TIPRE00018031
  • Category : Medical Device
  • No. of Pages : 150
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Continuous Glucose Monitoring Devices (CGMD) Market 2030 | Report

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[Research Report] The Continuous Glucose Monitoring Device market is projected to grow from US$ 9.8 billion in 2022 to US$ 28.5 billion by 2030; the market is estimated to record a CAGR of 14.1% during 2022–2030.

Market Insights and Analyst View:

The Continuous Glucose Monitoring Device Market forecast can help stakeholders in this marketplace plan their growth strategies. The rising preference for Continuous Glucose Monitoring Devices over self-glucose monitoring devices among the diabetic population propels the market. However, product recalls impede the Continuous Glucose Monitoring Device Market growth.

Growth Drivers:

High Importance of Continuous Monitoring for Diabetes Management Bolsters Continuous Glucose Monitoring Device Market Size

Currently, diabetes management is extremely complex, as the disease results in people creating new lifestyle habits, medications, and so on. Moreover, people suffering from diabetes require careful monitoring of blood glucose levels. The demand for Continuous Glucose Monitoring Devices is high among diabetic people owing to the high glucose levels that are difficult to maintain. These devices are the most advanced technology devices that have reshaped manual diabetes management with their components such as sensors, transmitters, and monitors. With their smart features, Continuous Glucose Monitoring Devices provide people with diabetes real-time updates regarding blood sugar levels, which helps them modify dietary patterns or insulin doses as directed by the healthcare physician. Such real-time updates reduce the risk of hypoglycemia or hyperglycemia among people living with diabetes. Further, significant expansion of the medical device industry in recent years, primarily during the COVID-19 pandemic, has positively impacted the continuous glucose monitoring device market size. Advancements in Continuous Glucose Monitoring Device technologies have made life easier for people with diabetes. For example, insulin administration and blood glucose monitoring have transformed from multiple finger pricks daily to a few swipes on a cell phone.

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Continuous Glucose Monitoring Device (CGMD) Market: Strategic Insights

continuous-glucose-monitoring-market
Market Size Value inUS$ 9.8 billion in 2022
Market Size Value byUS$ 28.5 billion by 2030
Growth rateCAGR of 14.1% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The “Continuous Glucose Monitoring Device market analysis” has been carried out by considering the following segments: product, application, testing site, and end user.

Segmental Analysis:

By product, the market is segmented into sensors, transmitters, and receivers. The sensors segment held the largest Continuous Glucose Monitoring Device market share in 2022. The same segment is anticipated to register the highest CAGR of 14.6% during the forecast period. In January 2024, Dexcom announced the submission of approval for a new glucose sensor named "Stelo Glucose Sensor" to the Food and Drug Administration (FDA). The new sensor is indicated particularly for devices designed for people suffering from type 2 diabetes to help them monitor health through maintaining diet, exercise, sleep, and stress. According to the "Self-Monitoring Devices in LMICs" report, the revenue for major Continuous Glucose Monitoring Device suppliers (Abbott, Dexcom, and Medtronic) is driven primarily by sensors. Also, patients prefer sensors frequently (every 10–14 days on average). Thus, sensors account for 60–90% of the total sales revenue in the Continuous Glucose Monitoring Device market.

Technology Trends

Technology plays a vital role in diabetes care, as a wide range of devices and tools are enabled with modern technologies. Continuous Glucose Monitoring Device manufacturers target low- and middle-income (LMIC) markets rather than high-income markets, as they anticipate that diabetic people from these countries would switch to Continuous Glucose Monitoring Device products, particularly if they are reimbursed well for these devices. Moreover, continuous monitoring instead of repetitive self-monitoring aids in additional relief. Continuous Glucose Monitoring Devices integrated with automated treatment delivery systems (e.g., insulin pumps) can offer benefits to individuals who don't have to manually adjust insulin dosages based on Continuous Glucose Monitoring Device readings. Thus, advancements in Continuous Glucose Monitoring Devices are likely to bring new Continuous Glucose Monitoring Device market trends in the coming years.

Regional Analysis:

The geographic scope of the Continuous Glucose Monitoring Device market report includes North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest Continuous Glucose Monitoring Device market share. The market growth in this region is driven by the increasing number of product launches by top companies, in addition to the presence of key market players in this region. The US is the largest contributor to the market in North America. The rising prevalence of diabetes is a key factor responsible for accelerating demand for Continuous Glucose Monitoring Devices in the US. Also, access to modern technology-enabled products favors the Continuous Glucose Monitoring Device market growth in this country. According to statistics released in the American Diabetes Association report in 2021, 38.4 million Americans (11.6%) of the total population had diabetes, including 29.7 million diagnosed and 8.7 million undiagnosed cases. Abbott's "FreeStyle Libre 2" is an example of an advanced technology-based Continuous Glucose Monitoring Device product that is the longest-lasting integrated continuous glucose monitoring (iCGM) system on the market; it provides glucose readings to the patient every minute. Also, FreeStyle Libre 2 is the only integrated iCGM system available in the US for patients from two age groups, i.e., adults and children aged 4 or more.

Continuous Glucose Monitoring Devices (CGMD) Market Report Scope

Industry Developments and Future Opportunities:

A few strategic developments by leading players operating in the Continuous Glucose Monitoring Device market, as per their press releases, are listed below:

  • In October 2023, Philips-Medisize announced a partnership with GlucoModicm to commercialize a proprietary noninvasive and wearable device. The partnership is aimed at creating a solution that is needle-free, accurate, and more affordable for diabetic people seeking ways to monitor blood glucose levels better.
  • In January 2024, Medtronic, announced CE Mark approval for the "MiniMed 780G system" with the Simplera Sync, a disposable, all-in-one Continuous Glucose Monitoring Device seeking no finger prick or overtape. The new product will be available in Europe and Medtronic had a phased commercial launch in Europe in Spring 2024.
  • In December 2023, Dexcom announced a new Continuous Glucose Monitoring Device product launch, "Dexcom G7" " The new product launch is the smallest and most accurate Continuous Glucose Monitoring Device connected to the t: slim X2 insulin pump. The product is the fastest Continuous Glucose Monitoring Device connected to the t: slim X2 pump with a 30-minute sensor warmup,* and along with Dexcom G6, and is the only Continuous Glucose Monitoring Device system providing alert seeking no finger prick.

Competitive Landscape and Key Companies:

B. Braun SE, F. Hoffmann-La-Roche Ltd, LifeScan Inc, Medtronic, Abbott Laboratories, Ypsomed Holding AG, Sensionics, Nipro Corp, GE Healthcare, and Terumo Corp are among the prominent companies profiled in the Continuous Glucose Monitoring Device market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Application, Testing Site, End User, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

Frequently Asked Questions


What is continuous glucose monitoring devices market?

Continuous glucose monitoring utilizes a device to automatically estimate blood glucose levels throughout the day and night. Monitoring continuous blood glucose levels in real-time can assist physicians in making informed decisions about the food and beverages the patient consumes, physical activity, and medications.

What is the market CAGR value of continuous glucose monitoring devices market during forecast period?

The CAGR value of the continuous glucose monitoring devices market during the forecasted period of 2022-2030 is 14.1%.

What are the driving factors for the continuous glucose monitoring devices market across the globe?

Key factors that are driving the growth of this market are high adoption of CGMD for diabetes management is expected to boost the market growth for the continuous glucose monitoring devices over the years.

Which product segment leads the continuous glucose monitoring devices market?

The sensors segment held the largest share of the market in the global continuous glucose monitoring devices market and held the largest market share in 2022.

Which application segment held the largest share in the continuous glucose monitoring devices market?

The type 2 diabetes segment dominated the global continuous glucose monitoring devices market and held the largest market share in 2022.

Which are the top companies that hold the market share in continuous glucose monitoring devices market?

F. Hoffmann-La-Roche Ltd and Medtronic are the top two companies that hold huge market shares in the continuous glucose monitoring devices market.

Who are the key players in the continuous glucose monitoring devices market?

The continuous glucose monitoring devices market majorly consists of the players such B. Braun SE, F. Hoffmann-La-Roche Ltd, LifeScan Inc, Medtronic, Abbott Laboratories, Ypsomed Holding AG, Sensionics, Nipro Corp, GE Healthcare, and Terumo Corp, and amongst others.

Which region is expected to witness significant demand for continuous glucose monitoring devices market in the coming years?

Global continuous glucose monitoring devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. North America held the largest market share of the continuous glucose monitoring devices market in 2022.

The List of companies - Continuous Glucose Monitoring Device (CGMD) Market

  1. B. Braun SE
  2. F. Hoffmann-La-Roche Ltd
  3. LifeScan Inc
  4. Medtronic
  5. Abbott Laboratories
  6. Ypsomed Holding AG
  7. Sensionics
  8. Nipro Corp
  9. GE Healthcare
  10. Terumo Corp

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