The continuous glucose monitoring devices market has been witnessing steady growth owing to the increasing prevalence of diabetes across the globe. Continuous glucose monitoring devices help in monitoring blood glucose levels in real-time and alerting patients when levels are too high or too low. It detects glucose levels just below the skin through a small sensor inserted via a needle or catheter. The data from the sensor is wirelessly sent to a transmitter and then to a receiver or smartphone. Some key advantages of continuous glucose monitoring devices include close monitoring of glucose levels without the need for routine finger pricking, detection of hypo and hyperglycemic episodes, and alerts to prevent serious complications. The continuous information provided helps both patients and health care providers to better manage diabetes through diet, exercise, and medication or insulin dosage adjustments.

The Global Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 3.35 Mn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the continuous glucose monitoring devices market are 3M , BSN Medical, Sigvaris AG, Cardinal Health, Medi GmbH & Co, ArjoHuntleigh Healthcare India, Bio Compression Systems Inc, Zimmer Biomet India, Spectrum Healthcare and Vissco Healthcare.

The prevalence of diabetes is rising at an alarming rate globally. As per International Diabetes Federation, around 463 million adults were living with diabetes in 2019 which is projected to increase to 700 million by 2045. Continuous glucose monitoring devices help manage diabetes more efficiently, creating significant demand for these devices in the coming years.

With increasing awareness and technological advancements, the adoption of continuous glucose monitoring devices is growing steadily across major markets worldwide. Key players are focused on expanding their geographical footprint by launching innovative products and offering strong distribution networks especially in developing nations across Asia Pacific and Latin America regions.

Market drivers

The primary driver for the Continuous Glucose Monitoring Devices Market Demand is the growing diabetic patient pool worldwide. As per the International Diabetes Federation, around 1 in 11 adults have diabetes and this is estimated to increase to 1 in 10 by 2045. Developed regions like North America and Europe currently account for the largest diabetes prevalence which is fueling demand for continuous glucose monitoring devices in these regions. Rising obese and geriatric population further elevates the risk of diabetes, boosting the need for real-time glucose monitoring. Moreover, favorable reimbursement policies of government and private insurance companies make continuous glucose monitoring devices affordable, increasing their adoption. Innovation of minimally invasive and wearable CGMs also boosts patient compliance to the therapy.

Impact of Geopolitical Situation on Continuous Glucose Monitoring Devices Market Growth

The continuous glucose monitoring devices market is witnessing several changes due to the ongoing geopolitical developments across major regions. The war between Russia and Ukraine has massively disrupted the global supply chains. Both countries are major exporters of metals like aluminum, nickel and palladium which are integral raw materials used in manufacturing continuous glucose monitoring sensors and transmitters. The uncertain political conditions have led to sharp rise in prices of these commodities impacting production levels for companies. Furthermore, import-export restrictions due to sanctions have made it difficult to procure components from these regionsadding to manufacturing challenges.

The pandemic has also reshaped diabetes management needs. With growing prevalence of diabetes and lifestyle diseases, demand for self-monitoring blood glucose devices increased tremendously during the crisis. However, regional lockdowns and supply bottlenecks slowed new product development for some time. Going forward, market players must focus on building resilient supply networks and alternatives and ramping up production capacities in different geographic regions to address future disruptions. Establishing manufacturing facilities in politically stable and business friendly countries would help sustain growth momentum especially in the emerging markets.

Geographical Regions with Highest Continuous Glucose Monitoring Devices Market Value

North America currently dominates the continuous glucose monitoring devices market in terms of value, attributed to the rising diabetic population, growing health awareness and favorable medical reimbursement policies in countries like US and Canada. Advancements in Bluetooth-enabled CGM systems and artificial pancreas devices are further propelling the regional market. Europe is another major revenue generator mainly driven by increasing adoption of integrated insulin pumps and continuous monitoring solutions across UK, Germany, France and Italy. Stringent regulatons mandating periodic diabetes screening and management have also boosted the European market.

Fastest Growing Region in Continuous Glucose Monitoring Devices Market

The Asia Pacific market is poised to witness the highest growth during the forecast period owing to improving healthcare infrastructure, rising affordability, growing awareness about diabetes self-care technologies and expanding patient pool in heavily populated countries like China and India. Favorable government initiatives for digital health startups and supportive reimbursement scenarios especially in Japan, Australia are complementing the regional market growth. Additionally, strategic partnerships between global players and local medtech firms to launch customized and low-cost products have accelerated APAC's growth momentum making it the fastest expanding regional market for continuous glucose monitoring devices.

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