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Continuous Glucose Monitoring Devices Market

Continuous Glucose Monitoring Devices Market

Continuous Glucose Monitoring Devices Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

140

Base Year:

2021

Date

Feb - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1340

Segments Covered
  • By Component Sensors, Durables
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: USD 5.13 Billion
Revenue 2028Revenue 2028: USD 13.24 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 10.8%
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Largest Region Largest Region (2021): North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Continuous Glucose Monitoring Devices Market Share

Market Synopsis:

Global Continuous Glucose Monitoring Devices market is valued at USD 5.13 Billion in 2021 and is projected to attain a value of USD 13.24 Billion by 2028 at a CAGR of 10.8% during the forecast period, 2022–2028. The rising incidence of diabetes, as well as the growing senior population prone to diabetes, are driving Continuous Glucose Monitoring Devices market. Growing awareness about diabetes preventative care, new product introductions, and supportive government programmes are all driving the market for Continuous Glucose Monitoring Devices. The federal agencies have reduced restrictions and provided guidelines for the use of home-use glucose metres or CGMs in hospital settings, which has resulted in an increase in demand for Continuous Glucose Monitoring Devices during the COVID-19 pandemic. The Dexcom G6 and Abbott FreeStyle Libre are two CGMs that have been certified for usage in hospitals.

Continuous Glucose Monitoring Devices Market Size, 2021 To 2028 (USD Billion)

The COVID-19 pandemic has wreaked havoc on the global population and economy.

Across the globe, the covid-19 pandemic caused substantial obstacles to the health-care system. Due to the imposition of lockdown, which resulted in trade restrictions and supply chain disruptions, it had a negative impact on the growth of the Continuous Glucose Monitoring Devices market for a short period of time.

Increase in Case of Obesity

One of the factors driving the market's growth is an increase in the incidence of diabetes due to age, obesity, and an unhealthy lifestyle. Obesity is a significant contributor to diabetes. According to the World Health Organization, approximately 1.9 billion adults were overweight in 2016, with around 650 million being obese. These devices use a sensor to monitor blood glucose levels at various time intervals, and the results are relayed through a wireless network. Respective readings are entered into diabetes management software so that the patient can gain a better understanding of the disease and, as a result, better manage it.

Strict Regulatory Requirements and Unstable Raw Material Cost

The cost of various raw materials is rising due to market conditions, and purchasers are currently being inundated with price hikes across multiple categories. The cost of raw materials is rising, posing issues for enterprises throughout their supply chains. Manufacturers are still grappling with the two supply chain bottlenecks that plagued the industry throughout the pandemic: sluggish supplier deliveries and labour availability, while costs continue to rise. Stringent regulatory compliance for home monitoring devices, on the other hand, would stymie worldwide Continuous Glucose Monitoring Devices demand.

Market Segmentation:

The Global Continuous Glucose Monitoring Devices Market has been segmented by Component into Sensors and Durables. Based on Region, the Continuous Glucose Monitoring Devices Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Below tree is interactive. You can click the nodes to get more information.

North America to Continue Dominating the Continuous Glucose Monitoring Devices Market

North America, Europe, and Asia Pacific accounted for the greatest proportion of the Continuous Glucose Monitoring Devices market in 2021. The regional market is also likely to be driven by rising obesity rates, effective reimbursement policies, and increased awareness of improved diabetes care technology. Other factors such as the increase in the number of well-established Continuous Glucose Monitoring Devices companies and research institutes in the United States and Canada, a large number of ongoing research studies, and the overall growth of the healthcare sector on a global scale are among the few factors expected to contribute to the market's growth. The regional market growth can be attributed to expanding geriatric populace, increasing surgical procedures, expanding and presence of established healthcare infrastructure.

Key Players:

Key players in the Continuous Glucose Monitoring Devices market is Medtronic (US), Dexcom Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott (US), Novo Nordisk A/S (Denmark), Ypsomed (Switzerland), GlySens Inc (US).

The Continuous Glucose Monitoring Devices market is segmented as follows:

Parameter Details
Segments Covered
  • Component (Sensors, Durables)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • Medtronic (US)
  • Dexcom Inc. (US)
  • F. Hoffmann-La Roche Ltd. (Switzerland)
  • Abbott (US)
  • Novo Nordisk A/S (Denmark)
  • Ypsomed (Switzerland)
  • GlySens Inc (US).
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Continuous Glucose Monitoring Devices Market is tabulated as follows:

Continuous Glucose Monitoring Devices Market to Reach Valuation of USD 13.24 Billion by 2028 - Rising Incidence of Diabetes is Driving the Market
In terms of revenue, the Global Continuous Glucose Monitoring Devices Market is expected to reach USD 13.24 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 10.8% from 2022 to 2028. The rising incidence of diabetes, coupled with the increasing geriatric population prone to diabet...
FAQ
Frequently Asked Question
  • The global Continuous Glucose Monitoring Devices valued at USD 5.13 Billion in 2020 and is expected to reach USD 13.24 Billion in 2028 growing at a CAGR of 10.8%.

  • The prominent players in the market are Medtronic (US), Dexcom Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Abbott (US), Novo Nordisk A/S (Denmark), Ypsomed (Switzerland), GlySens Inc (US)..

  • The market is project to grow at a CAGR of 10.8% between 2021 and 2028.

  • The driving factors of the Continuous Glucose Monitoring Devices include

    • Increase in Case of Obesity

  • North America was the leading regional segment of the Continuous Glucose Monitoring Devices in 2020.