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Home » Healthcare » Continuous Glucose Monitoring Devices Market Trends, 2030

Continuous Glucose Monitoring Devices Market By Component (Integrated Insulin Pumps, Sensors, Receivers, Transmitters), By Product (SMBG Systems, CBM Systems), By Demographics (Child Population (≤14 years), Adult population (>14 years)), By Testing Site (Alternate Site Testing, Fingertip Testing), By End User (ICUs, Diagnostics/Clinics, Home Healthcare), By application (Gestational Diabetes, Type 2 Diabetes, Type 1 Diabetes), Global Report by Size, Industry Analysis & Forecast, 2021 - 2030

Published On: Aug-2022   |   Base Year: 2021   |   No Of Pages: 140   |   Historical Data: 2017 - 2020   |   Formats: PDF   |   Report ID: 36813588

Report DescriptionTable of Contents

Industry Report and Statistics

The global continuous glucose monitoring devices market will witness a robust CAGR of 11.5%, valued at $6.13 billion in 2021, expected to appreciate and reach $16.33 billion by 2030, confirms Strategic Market Research. The market for continuous glucose monitoring was dominated by North America in 2020, with a market share of over 35%. One of the latest technical innovations in managing diabetes is CGM (continuous glucose monitoring). In case of CGM, a biosensor, a sort of glucose-monitoring device is inserted into the body of the subject via a transcutaneous or subcutaneous method. The embedded sensor detects glucose levels in the blood or interstitial fluid and transfers the data via a type of transmitter to a monitor/receiver to show the findings. Due to their numerous advantages over traditional glucose monitoring devices, these systems are crucial in managing diabetes. Unlike traditional glucose monitors, these gadgets provide routine glucose monitoring, which is important for avoiding complications related to diabetes.

Additionally, CGMS based technology has provided a blueprint for the closed loop bionic/artificial pancreas. Thus, companies producing glucose monitoring devices primarily focus on developing unique and cutting-edge CGMS. For healthcare settings (hospital ICUs, diagnostic centres & clinics), all age groups & geographic regions, it offers variety of uses. As a result, manufacturers of insulin pumps and glucose monitor patches have a lot of potential in the market for continuous glucose monitoring devices. The continuous glucose monitoring (CGM) device market is also driven by new product introductions, government initiatives, and rising awareness of diabetes preventative care. An additional element causing the increase in demand for continuous-glucose monitoring devices during COVID-19 outbreak is the government agencies' relaxing limitations along with the publication of guidelines for employing home use glucose metres as well as Continuous-Glucose Monitors in the hospital settings.

 

Dexcom G6 & Abbott Free-Style Libre are two CGMs permitted for hospital usage. This was done primarily to ensure patient self-testing and the safety of medical personnel. The American Diabetes Association also released several online resources regarding diabetes and the effect of COVID-19 on diabetic patients. Furthermore, the pandemic has increased the necessity to examine the viability of Continuous Glucose Monitors in institutions to constantly monitor diabetic patients. The U.S. FDA published an advice in April 2020 to increase the accessibility of remote-monitoring devices, particularly CGMs, across all healthcare institutions in the U.S. due to the rising demand. Additionally, a lot of medical institutions and industry participants took significant action to meet the unmet needs of diabetic patients who were struggling financially during the pandemic. The American Diabetes Association, Insulin for Life, as well as the Diabetes Disaster Coalition, for instance, teamed together with Abbott in May 2020 to send 25,000 CGM sensors to hospitals throughout the United States. With such a  sensor, these devices enable the observation of blood glucose over a range of time intervals, and the readings are relayed through a wireless network. The appropriate readings are then entered into diabetes management software to aid patients in better understanding of their condition.

 

Key Industry Drivers - Increased Diabetes Prevalence likely to increase the demand for Continuous Glucose Monitoring Devices, Increased use of the CGM device in Different Market Segments to Promote growth

  • The rising diabetes prevalence is primarily caused by several reasons, including rapid urbanization and the rising trend toward a sedentary lifestyle in emerging and developed nations. For instance, the International Diabetes Federation reported that in 2021, there were an expected 537 million adults worldwide who had diabetes, with China, India, the United States, Brazil, and Mexico making up an estimated 51.6% of those individuals. The prevalence of type-1 or insulin-dependent Type-2 diabetes patients has also significantly increased, which has contributed to the rapid global adoption of these monitoring systems. For instance, the International Diabetes Federation stated that in 2021, the rate of occurence of type 1 diabetes was anticipated to be 149.5 per 1,000 children and among adolescents it was between 0 to 19 years of age. Moreover, there is a growing demand for diabetes monitoring devices like CGMs due to the existence of a substantial patient population with insulin-dependent diabetes, the advent of new products by industry players, and favourable reimbursement policies. The continuous glucose monitoring devices market has been expected to expand between 2021 and 2030 due to the above mentioned robust factors.

 

  • Real-time monitoring for patients who are insulin-dependent or rather patients with Type-2 diabetes is now possible because of the advent of cutting-edge technology like CGM systems by market players. Additionally, compared to SMBG (Self-Monitoring Blood Glucose) systems, CGM systems have a number of benefits, including being less intrusive, comfortable, providing real-time monitoring, and providing quick and accurate data. As a result, these unique advantages play a significant role in changing the perspective of patients' along with healthcare professionals in the favour of CGM. Moreover, due to these advantages CGM devices are utilized in different market segment which acts as a robust factor for the growth of this market throughout the forecasted period. For instance, as per data released by Abbott, there were 4 million FreeStyle Libre users worldwide in 2021 compared to 3 million in 2020. Thus the increase in the use of continuous glucose monitoring devices in various fields will promote growth throughout this anticipated time frame.

 

Restraints - Reduced Rate of Diagnosis of Diabetes & Treatment in Emerging Economies to Limit the growth.

  • One of the main causes of the lower adoption of continuous glucose monitoring systems, particularly in emerging nations, is the existence of a sizable segment of the population with undiagnosed diabetes. Compared to wealthy nations, countries like China, India, South Africa, Brazil, and others have a higher prevalence of delayed analysis and diagnosis due to the general public's ignorance of chronic illnesses like diabetes-mellitus. Additionally, the lack of modern and advanced procedures by public or private organizations and the restricted access to modern healthcare infrastructure may impede growth. According to a report from the IDF (International Diabetes Federation) published in 2021, it was found that nearly one in two diabetic patients lives in Africa, and 55.0 percent of people with diabetes in the APAC region do not have a diagnosis. The lower diagnosis and treatment rates are therefore primarily caused by all of the reasons mentioned above, which would consequently restrict the use of these systems in developing nations.

 

Opportunities - Covid-19 To Positively Impact the Market, Routine Monitoring of Blood Glucose Levels Will Act as An Opportunity for The Market.

  • COVID-19 is expected to benefit the growth of the market for continuous glucose monitoring devices because the virus has been discovered to be detrimental for diabetic individuals. The American Diabetes Association states that there is currently inadequate evidence to determine if people with diabetes are more prone to contract COVID-19 but such people can experience worse outcomes, such as increased rates of major complications. Therefore, continuous glucose monitoring of diabetic patients can help to identify early COVID-19 symptoms and help to determine the best course of treatment.

 

  • A greater CAGR is anticipated during the projected period for the continuous glucose monitoring system (CGM) segment, due to their ability to routinely monitor the patient's blood glucose level. CGMs are becoming increasingly popular in both developed & developing nations, which is leading to the enormous expansion of this market sector and the use of this technology in different market segments. For instance, a 2021 article by John Wiley & Sons, Inc. noted that CGM systems were proven more effective than SMBG in controlling diabetes because of their simplicity of use, speed of results, and minimally invasive approach.

 

Market Analysis Of Different Segments Covered in the Report

Based on Component

  • Integrated Insulin Pumps

  • Sensors

  • Receivers

  • Transmitters

 

Based on Product

  • SMBG Systems (Testing Strips, Blood Glucose Meters, Lancets)

  • CBM Systems (Transmitters, Sensors, Receiver)

 

Based on Demographics

  • Child Population (≤14 years)

  • Adult population (>14 years)

 

Based on Testing Site

  • Alternate Site Testing

  • Fingertip Testing

 

Based on End User

  • ICUs

  • Diagnostics/Clinics

  • Home Healthcare

 

Based on Application,

  • Gestational Diabetes

  • Type 2 Diabetes

  • Type 1 Diabetes

 

Regional Coverage Analysis

North America

  • United States

  • Mexico

  • Canada

 

Europe

  • United Kingdom

  • Deutschland

  • France

  • Spain

  • Italy

  • Netherlands

  • Norway

  • Sweden

  • Denmark

  • Finland

  • Rest of Europe

 

Asia-Pacific

  • China

  • Australia

  • Japan

  • South Korea

  • India

  • Rest of Asia-Pacific

 

LAMEA

  • Brazil

  • Venezuela

  • South Africa

  • Argentina

  • Saudi Arab

  • Rest of LAMEA

 

Component Analysis & Insights

According to component, CGM device is divided into three main groups: transmitters, sensors & receivers. From research, it can be concluded that in 2020, the sensors market segment held the largest revenue share, with over 39% of the total revenue. Additionally, from 2021 to 2030, this segment is anticipated to have the quickest CAGR. The most complex component of the CGM device, the sensors are made of a metal filament which is even thinner than a needle and is inserted inside the fatty-layer of the human body, immediately beneath the skin. The technology utilized in transmitters/receivers is a bit different from that of a sensor. In the sensor, platinum gets combined with glucose oxidase to produce and generate hydrogen peroxidase, generating an electrical signal for the transmitter. The findings are shown on the device monitor by the receiver. Signals from the side of transmitter are received by a small, battery-operated receiver that shows the outcomes. The receiver shows a variety of graphs & statistics which can be utilized to modify medicine, which is advantageous for those who suffer from hypoglycemia or hyperglycemic disorders.

 

Demographics Analysis & Insights

Based on the Demographic segment, the continuous glucose monitoring devices market is divided into adults who are (>14 years) and children below (<14 years). The sector of the adult population (>14 years) is anticipated to grow at the fastest rate during the forecast period. This is explained by the fact that CGMs are regarded as an ideal instrument for managing diabetes in the adult population because it is a "ready-to-go" treatment, very efficient at managing diabetes, and a cost-effective system for working class/employed people, leading to its widespread acceptance by this age group. According to a US survey, 38% of the 23,000 adults and children diagnosed with type 1 diabetes used CGM in 2019, with the majority of users being between the ages of 26 and 50.

 

Application Analysis & Insights

By Application, the market has been divided into Gestational Diabetes, Type-2 diabetes & Type-1 diabetes. In 2021, the Type-2 diabetes market segment held a disproportionately large portion of the worldwide market share, driven by the prevalence of Type-2 diabetes patients who are insulin-dependent. For instance, the IDF (International Diabetes Federation) forecasted that there were approximately 537 million type-2 diabetics patient worldwide in 2021, with one in ten of the diabetic patient group at risk of developing this disease. In addition, the CGM is expected to be used more frequently in the type 1 diabetes segment due to its clinically demonstrated effectiveness in lowering the risk of hypoglycemia in this population.

 

End-User Analysis & Insights

Based on End-user, with a revenue share of more than 43% in 2020, the home care segment dominated the worldwide market. During the anticipated years, the sector will continue to grow at a rapid CAGR. The market has been segmented into home care, other end uses, and hospitals. From 2021 to 2030, the hospital category is anticipated to increase at 2nd highest CAGR of nearly 10 percent. The use of the CGM device in hospitals and other healthcare facilities in order to monitor blood-sugar level of patients diagnosed with diabetes-mellitus is one of the factors fuelling this expansion. According to clinical studies as published by NCBI, for individuals suffering with gestational diabetes-mellitus, CGM systems beat SMBG/Self monitoring Blood Glucose devices in terms of advantages.The advent of highly advanced diabetes treatment devices will further increase product acceptance in the hospital sector.

 

Regional Analysis & Insights

North America dominated the worldwide market for CGM devices based on region, with a sale percentage of more than 39% in 2020. Due to a well-established healthcare sector in the region, the local market will continue to grow at a consistent CAGR between 2021 to 2030, thereby maintaining its dominance. The regional market is also anticipated and poised to be driven by the increasing obesity cases, effective reimbursement regulations, and expanding public awareness of cutting-edge technologies for diabetes control. Conversely, from 2021 to 2030, APAC is anticipated to experience the quickest growth rate. The Asia-Pacific region is experiencing an increase in diabetic patients compared to other regions globally. India & China have the most diabetic patients across the globe, according to IDF (International Diabetes Federation). Type I & Type II diabetes have become very common due to the rising socioeconomic inequality & the rise in obesity cases.

 

Continuous Glucose Monitoring Devices Market Report Coverage

Report Attribute

Details

Forecast Period

2021 – 2030

Market size value in 2021

USD 6.13 Billion

The Revenue forecast in 2030

USD 16.33 Billion

Growth rate

11.5%

The base year for estimation

2021

Historical data

2017 - 2021

Segments covered

Components, Demographics, End-user, Region

Regional scope

Europe, Asia Pacific, North America, LAMEA

Country scope

US, Canada, Mexico, Germany, UK, France, Spain, Italy, Netherlands, Sweden, Norway, Finland, Rest of Europe, China, Japan, India, South Korea, Australia, Africa, Brazil, Argentina, Venezuela, Saudi Arabia, South Africa, rest of LAMEA.

Key companies profiled

GlySens Incorporated, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Dexcom, Inc., Senseonics Holdings, Inc., A. Menarini Diagnostics, Medtronic plc, lifeScan IP Holdings, Echo Therapeutics, Inc., Johnson & Johnson, B Braun Melsungen AG, Terumo Corporation

 

Continuous Glucose Monitoring Devices Market Competitive landscape Analysis

Numerous multinational and local businesses are well represented in the market. Most top corporations engage in strategic partnerships, product development, merger & acquisition, & geographical expansion to enhance their market revenue share. For instance, Medtronic announced on November 2020 that the FDA had approved the "InPen," a smart-insulin pen designed for diabetic patients who require multiple daily injections. A Guardian-CGM system that allows for real time access to patient insulin and glucose data is included with the device. The following are the major companies in the market for continuous glucose monitoring devices:

 

  • GlySens Incorporated

  • Abbott Laboratories

  • F. Hoffmann-La Roche Ltd.

  • Dexcom, Inc.

  • Senseonics Holdings, Inc.

  • A. Menarini Diagnostics

  • LifeScan IP Holdings LLC

  • Medtronic plc

  • Echo Therapeutics, Inc.

  • Johnson & Johnson

  • B Braun Melsungen AG

  • Terumo Corporation

 

Recent Developments

  • As a pioneer in at-home testing solutions, EMPOWER CLINICS INC, on July 12th, 2022, introduced the Empower Blood Glucose Monitor. Empower Blood Glucose Monitor is a tiny medical gadget that gauges how much glucose is in the blood of an individual.

 

  • Senseonics Holdings Inc, a company involved with medical technologies, specializing in the design and production of implantable, long-term CGM systems for diabetic people announced on June 16th, 2022 that the next-generation Eversense E3 continuous glucose monitoring system, the most durable system currently in the market with exceptional accuracy, has been given CE Mark approval. The Eversense E3 can now be sold in member states of the European Union (E.U.).

 

  • In Illinois, more than 1.3 million people have diabetes, and they must monitor their blood-sugar levels throughout the day. On June 16th, 2022, a bill was passed which makes it easier for people to access continuous glucose monitors. By January 1, 2024, the new bill mandates that health plans or health insurance must include continuous glucose monitors (CGM) for diabetic patients.

 

  • On June 3rd , 2022, Abbott revealed that it is working on a novel bio wearable device that will combine a sensor to continually monitor glucose and ketone levels. The system has received the U.S. Food and Drug Administration's breakthrough device designation. The sensor which can detect glucose-ketone will share the same dimensions as Abbott's Free-Style Libre 3 sensor, which is the smallest & thinnest continuous glucose monitoring sensor in the world. It will also be connected to Abbott's digital ecosystem, which includes mobile apps for patients and caregivers as well as cloud-based data management software for remote monitoring by medical professionals.

 

  • In March 2021, the Accu-Chek Instant system, which connects directly to the MySugr app and offers real time glucose level data, was introduced by F Hoffmann La Roche Ltd.

 

  • To satisfy the consumer demand in the European market, Ascensia Diabetes Care Holdings AG acquired Senseonics Inc.’s distribution of EVERSENSE XL in February 2021 in Germany, Italy, Switzerland, Poland, Netherlands, and Spain.

 

Market Leaders Produce a Variety of Devices, Including:

Name

Feature

Key Player

The Eclipse 3 Sensor

Features: -

  • Long Term

  • Bluetooth Connectivity

  • Use of Low energy

  • Implantable Sensor

  • Clinical Accuracy

  • Differential Measurement

 

Continental Carbon Company

 

Eversense CGM System

Feature: -

  • Discreet Alert

  • Glucose Monitoring Patch

  • Long-Term Convenience

  • Peace of mind and  accuracy

  • Gentle on skin

  • Accurate Reading

Senseonics Holdings, Inc.

 

GlucoMen Day CGM

Feature: -

  • Glucose Monitoring Patch

  • Long-Term Convenience

  • Peace of mind and  accuracy

  • Gentle on skin

 

A. Menarini Diagnostics

 

Frequently Asked Question About This Report

b: Several reasons primarily cause the rising prevalence of diabetes, including rapid urbanization and the rising trend toward a sedentary lifestyle in emerging and developed nations. Moreover, the prevalence of type-1 or insulin-dependent Type-2 diabetic patients has also significantly increased, which has contributed to the rapid global adoption of these systems.

b: The global continuous glucose monitoring market size was $6.13 billion in 2021 and is expected to reach a value of $16.33 billion by 2030.

b: The global continuous glucose monitoring market is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2021 to 2030 to reach USD 16.33 billion by 2030.

b: The highest market share for continuous glucose monitoring devices is attributable to the component segment.

Sources

https://abbott.mediaroom.com/2021-09-28-Real-World-Data-Show-Abbotts-FreeStyle-LibreLink-App-Users-Spend-More-Time-in-Target-Glucose-Range-Compared-to-Reader-Users

https://diabetesatlas.org/data/en/world/

https://pubmed.ncbi.nlm.nih.gov/26908931/

https://main.icmr.nic.in/sites/default/files/upload_documents/ICMR_Guidelines_for_Management_of_Type_1_Diabetes.pdf