Continuous Glucose Monitoring System Market - By Component (Transmitters & Receivers, Integrated Insulin Pumps, And Sensors), By End User (Home Healthcare, Diagnostic Centres, And Others), and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Continuous Glucose Monitoring (CGM) System is essential to all age groups for real time continuous glucose monitoring as well as manages diabetes effectively. The identification and estimation of appropriate blood glucose level in patients by using CGM system. The CGM system evolved from enzyme-based electrochemical glucose sensors which are attached with a transmitter for daily diabetes management. For improving metabolic control there is proactively tracking glucose level fluctuations of interstitial fluid. This system also helps in reducing the risk of hyperglycemia & hypoglycemia. The crucial factors driving the growth, owing to growing diabetic population, increase in healthcare expenditure. The Continuous Glucose Monitoring (CGM) System market accounted 4987.1 million USD in 2020 and is expected to reach 22575.869 million USD by 2030 to grow at a CAGR of 16.3% during the forecast period.

Market Segmentation:

Based on the components, the global continuous glucose monitoring system market is divided into transmitters & receivers, integrated insulin pumps, and sensors. On the basis of end users, the global market is segmented home healthcare, diagnostic centers, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

An increasing prevalence of diabetes globally and increased calling for glucose level testing instantly are the major drivers for the growth of the global continuous glucose monitoring system market. Moreover, innovative technology allowing quick access for analysing blood glucose level and growing healthcare sectors and increasing awareness about personal health management are some of the other factors which will drive the market during forecast time. Conversely, high cost and low availability of CGM systems in developing countries are responsible to restrain the market growth.  Additionally, growing technological advancements for development of easy operating solutions for testing glucose level in blood, rising demand for CGM point of care and increasing safety evidences for these systems  are also boosting the growth of market during the next coming years. On the rather hand, the technological advancements in consumer electronics sector and evolution of laser-based hard disc drive technology among the population are creating immense opportunities for the market growth during forecast timeframe. However, inadequate reimbursement and high cost associated with the application of CGM devices is considered to be the challenge for market in upcoming years.

Geographic Analysis:

North America holds the largest market share in the global continuous glucose monitoring system market followed by Europe and Asia Pacific. The global spread of diabetes along with increasing geriatric population, government initiatives undertaken for prevention of diabetes & treatment support and continuous technological advancements are responsible for the market growth in North America region.  In the United States, diabetes is surpassed an alarming rate accounted as 9.4% of the U.S. population, stated by WHO. In addition, Asia pacific held the faster market growth due to increasing awareness about these devices usage coupled with continuously concentrating on the technological advancements of CGM system. Furthermore, ASPC witnesses the highest growth rate during the forecast time frame due to lucrative opportunities offered by countries including China, India, Singapore, South Korea, and Japan. These countries are emerging as hubs for data centers owing to advanced telecom infrastructure and support from government. Europe is expected to significant growth in the global market due to increasing adoption of these devices by countries including Germany, Italy, France and Spain. Latin America and the Middle East & Africa region are projected to moderate growth of the market during the forecast time frame.

Competitive Scenario:

The key players of global continuous glucose monitoring system markets are Abbott laboratories, Animas Corporation, Dexcom Inc., Glysens Incorporated, Medtronic PLC, AgaMatrix Inc., Arkray USA Inc., Bayer AG, Insulet Corporation, and Sensonic Corporation.

Continuous Glucose Monitoring System Market Report Scope