Continuous Glucose Monitoring Market is Expected to Reach $7,835.4 Million by 2026

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OVERVIEW

Continuous Glucose Monitoring Market is expected to reach $7,835.4 million by 2026; growing at a CAGR of 20.9% till 2026.

Continuous glucose monitoring (CGM) is a mode of tracking blood glucose levels, also called blood sugar. CGM measures the glucose in interstitial fluid through a sensor placed just under the skin. Continuous glucose monitoring consists of three components the sensor, transmitter, and receiver. The sensor is a thin filament or wire, inserted with the aid of a needle under the skin. The transmitter is the middleman between the sensor and the receiver. A transmitter is attached to the top of the area where the sensor was inserted. The receiver receives and displays the information from the sensor, and checks the current glucose levels and views past readings in the display.

The rising prevalence of diabetes has increased the demand for continuous glucose monitoring equipment. For instance, according to the European Society of Cardiology, the prevalence of diabetes is 8.8% of the world population in 2017. The prevalence is expected to increase by 9.9% in 2045. The global population with diabetes was 424.9 million in 2017, with an estimate of a 48% increase to 628.6 million people for the year 2045. According to the Centers for Disease Control (CDC), in the U.S, diabetes had risen to an estimated 30.3 million in 2017. About 90% of people have Type 2 diabetes, and 8% of people with Type 1 diabetes, and 2% of people have rarer types of diabetes. According to Diabetes UK, more than five million people will have diabetes in the UK by 2025. Increasing regulatory approval for continuous glucose monitoring are key driving factors of the market.

Transmitter & Receivers, Sensors, and Insulin Pump in the type segment of the market scope, and the application segment is further divided into Diagnostics/Clinics, Hospitals, and Home Settings. The report covers the value of the global market by type and application.

The market value of sensors was USD XX million in 2019, and it is expected to reach USD XX million by 2026, growing at a CAGR of XX during 2020-2026. Sensors are the dominant segment and accounted for approximately 43.85% of the market in 2019, due to the increasing regulatory approvals for continuous glucose monitoring sensors.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global continuous glucose monitoring Value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America continuous glucose monitoring market was USD XX million in 2019, and it is predicted to reach USD XX million by 2026, growing at a CAGR of XX during the forecast period. The rising prevalence of diabetes and regulatory approval for continuous glucose monitoring equipment would improve the growth of the market.

Major players operating in the continuous glucose monitoring industry include Medtronic plc, Abbott, DexCom, Insulet, Senseonics, Roche, GlySure, Animas, Tandem Diabetes Care, Inc.

Formation of strategic collaborations and commercialization of approved products are the few business strategies adopted by the key companies, with a focus on maintaining a competitive advantage over others. The companies are focused on product approvals to expand business activities on a global scale.