Continuous Glucose Monitoring Devices Market Value to Jump up to {[Revenue_2028}} by 2028

Continuous Glucose Monitoring Devices
  • Continuous Glucose Monitoring Devices Market

Continuous Glucose Monitoring DevicesMarketwas valued at USD 5.13 Billion in 2021 and is projected to reach USD 13.24 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 10.8% from 2022 to 2028. North America is one of the latest advances in technology in the field of diabetes management. The Continuous Glucose Monitoring Devices system is a type of glucose monitoring device that works by inserting a biosensor through a transcutaneous or subcutaneous route. The embedded sensor measures glucose levels in the interstitial fluid or blood and transmits the information using a transmitter to the receiver/monitor to display results. These systems play an important role in the management of diabetes, due to their few parallel benefits over other glucose monitoring devices.

Unlike conventional glucose monitors, these systems allow for periodic monitoring of glucose levels, which is important in preventing diabetes complications. Therefore, the market for continuous sugar monitoring programs offers beneficial opportunities for both Continuous Glucose Monitoring Devices manufacturers and insulin pump manufacturers. During the Covid-19 epidemic, there was an emphasis on the use of visual clinics and telemedicine to control diabetes. For example, the UK's National Health Service (NHS) has updated its clinical index to encourage remote contact by telephone, email and video conferencing. This has led to an increase in the need for diabetic care devices to be able to share data remotely. There is a great deal of data available using Continuous Glucose Monitoring Devices devices, which can help patients and health care providers improve glycemic control and potentially enhance patient self-regulation.

Key factors that promote growth include an increase in the number of adults and an increase in people with diabetes. According to the International Diabetes Federation, the number of people with diabetes is expected to reach 642 million by 2040. The increase in the incidence of diabetic patients is expected to provide market growth for high blood sugar monitoring programs and opportunities, which will attract and compel more market players to develop new products or product line extensions. However, the lack of adequate compensation for devices is an important obstacle to the acquisition of devices. On the contrary, the potential for high growth in unused markets is expected to provide significant potential benefits to producers soon.

Based on their components, Continuous Glucose Monitoring Devices devices are divided into three broad categories namely sensors, transmitters, and receivers. The sensor segment has led the market to calculate a higher revenue share 2021. Depending upon demographics, the market includes segments such aschild population (≤14 years), adult population (>14 years), by end use, diagnostics/clinics, ICUs, and home healthcare. While on the basis of regional analysis, the Global Continuous Glucose Monitoring DevicesMarket is categorized in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

dominated the Global Continuous Glucose Monitoring Devices Market, accounting for about 39.1% of the market share by 2021. North America is marked by an increase in the number of adults, an increase in diabetes, an increase in awareness about Continuous Glucose Monitoring Devices devices, an increase in consumer spending on healthcare, and thus more revenue. On the other hand, is estimated to be a market that opens many opportunities during forecasting. Asia Pacific is home to many people and is characterized by increased awareness about diabetes. The increase in penetration of diagnostic labs in the region is expected to increase the demand for Continuous Glucose Monitoring Devices devices during forecasting. Countries such as China, India, South Korea, and Indonesia are attracting FDIs in the healthcare sector due to favorable government policies, which are expected to boost the growth of the Continuous Glucose Monitoring Devices equipment market in the region.

Major companies in the Global Continuous Glucose Monitoring Devices Market include Medtronic (US), Dexcom Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott (US), Novo Nordisk A/S (Denmark), Ypsomed (Switzerland), GlySens Inc (US)..