Continuous Glucose Monitoring Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Glucose sensors, Transmitters and monitoring devices, Insulin Pumps), By End User (Hospitals, Diagnostic Centres, Clinics) and Region

Continuous Glucose Monitoring Devices Market size was valued at US$ 5365 million in 2023 and is poised to grow at a CAGR of 25.2% from 2024-2030. Continuous glucose monitoring (CGM) is a novel technology to measure blood glucose in real-time throughout the day and night. Glucose sensors are placed under the skin to measure glucose levels in the blood. The transmitters are sending radiofrequency signals to a monitoring and display device. Adoption of advanced technologies to monitor glucose levels will create demand for the Continuous Glucose Monitoring Devices Market. The global Continuous glucose monitoring devices market is expected to gain traction due to an increased global prevalence of diabetes coupled with the adoption of technological advancements.

According to WHO, approximately 108 million adults were living with diabetes in 1980; it is reached 422 million by 2014. The prevalence is doubled in the adult population. Favorable reimbursement policies for global continuous glucose monitoring devices are expected to boost the market over the forecast period. The U.S. is expected to account for the predominant market share in North America, owing to the wide range of diabetes population in the country. A rise in diabetes prevalence and an inclination toward novel diagnostic devices is expected to drive the market over the forecast period. Mexico's continuous glucose monitoring devices market is expected to accelerate due to the increased prevalence of obesity and overweight. For instance, the prevalence of obesity is more than 33% in children and 70% in adults. Obesity is the prime factor, that leads to diabetes. Mexico has the highest prevalence of diabetes among OECD countries. Lack of funding and the dearth of advanced healthcare infrastructure in lower-income countries hamper the market. Most primary healthcare practitioners are unable to access basic technologies to manage diabetes.

Key Developments:

• On November 19, 2024: Oura and Dexcom announced the strategic partnership that paves the way for devices (Oura smart rings) and apps to be used together gives users a more comprehensive picture of their overall health.
• On August 26, 2024: Dexcom, a CA-based company has launched Stelo, an over-the-counter continuous glucose monitoring system. Once Abbott’s Libre Rio System hits the market it could be a fierce competitor for Stelo.