The global continuous glucose monitoring (CGM) market is projected to reach a value of US$ 12.87 billion by 2032, with a compound annual growth rate (CAGR) of 8.22% between 2024 and 2032, according to Renub Research. In 2023, the market was valued at US$ 6.32 billion.
CGM devices are wearable technologies designed for people with diabetes, providing real-time monitoring of blood glucose levels. This technology helps individuals better understand their insulin needs, ultimately aiding in managing diabetes. CGM systems are crucial for people with type 1 and type 2 diabetes, enabling them to track blood sugar trends and prevent severe fluctuations that could lead to dangerous complications like hyperglycemia or hypoglycemia.
Trends in the Global Continuous Glucose Monitoring Market
Several factors are driving growth in the CGM market:
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United States CGM Market
The United States is anticipated to be a dominant player in the global CGM market due to its high diabetes prevalence and rapid adoption of CGM devices. In 2021, the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) estimated that 38.4 million people in the U.S. had diabetes, representing 11.6% of the population. Furthermore, over one-third of U.S. adults (97.6 million) had prediabetes.
Government initiatives such as the Medicare Diabetes Prevention Program (MDPP) and the National Diabetes Prevention Program (National DPP) by the CDC are among the key factors contributing to the growth of the CGM market in the U.S. Healthcare providers are increasingly recommending CGM use for managing diabetes, further driving the market’s expansion.
Company News in the Global CGM Market
Prominent companies in the CGM industry include Dexcom Inc., Ypsomed AG, Abbott Laboratories, Senseonics Holdings, Inc., Nemaura Medical, Inc., Medtronic, Inc., Tandem Diabetes Care, and Nova Biomedical. Here are some notable developments:
These developments reflect the ongoing innovation and market growth in the global continuous glucose monitoring industry, with significant opportunities for expansion and improvement in diabetes care.
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