Global CGM Market Analysis

The global continuous glucose monitoring (CGM) market is on a robust growth trajectory, with a forecasted value of USD 13.06 billion by 2032. The market is expected to grow at a CAGR of 8.40% from 2024 to 2032, up from USD 6.32 billion in 2023. This growth is driven by the increasing global prevalence of diabetes, advancements in CGM technology, and the rising demand for personalized healthcare solutions. CGM devices are transforming the way individuals with diabetes manage their condition, making blood glucose monitoring more accessible and less intrusive.

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What is Continuous Glucose Monitoring (CGM)?

Continuous Glucose Monitoring (CGM) refers to a system used to track blood glucose levels continuously throughout the day and night. CGM devices consist of a small sensor inserted under the skin, which measures glucose levels in the interstitial fluid. These readings are sent to a device, such as a smartphone or dedicated monitor, providing real-time data. CGMs help individuals with Type 1 and Type 2 diabetes to better manage their blood glucose levels and avoid dangerous fluctuations, such as hyperglycemia (high blood sugar) or hypoglycemia (low blood sugar).

By providing continuous data, CGM systems allow users to see the impact of their diet, physical activity, and medication on their glucose levels, helping them make timely adjustments to improve their overall health and quality of life.

Key Market Drivers

1. Rising Prevalence of Prediabetes

The global rise in prediabetes is a significant factor contributing to the growth of the CGM market. Prediabetes occurs when an individual's blood sugar levels are higher than normal, but not yet high enough to be classified as Type 2 diabetes. Without lifestyle changes, prediabetes can progress to Type 2 diabetes, which increases the demand for early detection and intervention tools like CGM.

According to the National Institutes of Health (NIH), approximately 5.8% of the global population was affected by impaired fasting glucose (IFG) in 2021, and this is expected to grow to 6.5% by 2045. The growing awareness of prediabetes and its link to Type 2 diabetes is expected to drive increased adoption of CGM systems for early intervention and monitoring.

2. Increasing Elderly Population

Diabetes prevalence increases significantly with age. The International Diabetes Federation (IDF) reports that 19.3% of individuals aged 65 to 99 have diabetes, a number that is projected to rise sharply over the coming decades. By 2045, it is expected that 276.2 million people over the age of 65 will be living with diabetes globally. As the global population ages, the need for effective, long-term management solutions like CGM systems will continue to grow, particularly among seniors with Type 2 diabetes.

Additionally, as the elderly population is more likely to have other comorbidities, such as high blood pressure or heart disease, managing diabetes becomes more complex, making CGMs an invaluable tool for managing the condition in this demographic.

3. Technological Advancements in CGM Devices

Technological innovation continues to drive the evolution of CGM devices, making them more accurate, user-friendly, and accessible. Significant advancements in sensor technology, battery life, and wireless connectivity have led to more compact, reliable, and affordable devices. For instance, in February 2024, DexCom launched the DexCom ONE+, a real-time CGM device with a waterproof sensor, a transmitter for real-time data sharing, and an accompanying smartphone app. This system allows users to share their glucose data with up to 10 people, enhancing community support and collaborative care.

Moreover, CGMs are becoming increasingly integrated with other digital health tools, allowing patients to track their glucose levels alongside data from other aspects of their health, such as physical activity and diet. These innovations are enhancing user experience and improving the management of diabetes in daily life.

Regional Insights: The United States Market

The United States is expected to dominate the global continuous glucose monitoring market due to the high prevalence of diabetes and the widespread adoption of CGM systems. In 2021, the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) estimated that 38.4 million Americans have diabetes, with 97.6 million adults affected by prediabetes. This growing population is driving demand for more effective and convenient diabetes management tools, such as CGM devices.

The U.S. is also home to several leading CGM manufacturers, such as DexCom, Medtronic, and Abbott Laboratories, which contribute to the rapid expansion of the CGM market. Moreover, U.S. government initiatives, like the Medicare Diabetes Prevention Program (MDPP) and the National Diabetes Prevention Program (National DPP), are further supporting the growth of the CGM market by improving access to diabetes care and promoting the adoption of CGM devices for better management.

Recent Developments in the CGM Market

Several notable developments have taken place in the CGM market, reflecting ongoing innovation and increased market adoption:

• Dexcom received FDA approval for the Dexcom Stelo Glucose Biosensor System, the first over-the-counter (OTC) CGM device, allowing consumers to purchase and use the device without a prescription. This will make CGMs more accessible to a broader consumer base and is expected to drive growth in the self-management diabetes segment.
• Medtronic introduced the MiniMed™ 780G system in January 2024, which includes an advanced disposable CGM that eliminates the need for fingersticks and provides an improved user experience with a simplified two-step insertion process. This new device is helping make diabetes management more convenient and accurate for users.
• I-SENS, a blood glucose device manufacturer, launched the CareSens Air CGM in June 2023. Approved by the South Korean Ministry of Food and Drug Safety, this compact and lightweight device offers continuous monitoring for up to 15 days and features a built-in calibration mechanism for improved accuracy.
• Eversense released the E3 Continuous Glucose Monitoring System in March 2023, which provides real-time glucose readings and trends through a mobile app. The device is expected to be particularly useful for individuals who require long-term monitoring of their glucose levels.

Key Market Players

Several prominent companies are leading the global continuous glucose monitoring market, shaping the future of diabetes care through technological innovation and expansion:

• Dexcom Inc.
• Abbott Laboratories
• Medtronic
• Ypsomed AG
• Senseonics Holdings, Inc.
• Tandem Diabetes Care
• Nemaura Medical, Inc.
• Nova Biomedical

These companies are continually improving their products and services, launching new devices, and enhancing the user experience. For example, Dexcom’s G6 and G7 systems are among the most widely used CGMs, offering real-time glucose monitoring with minimal user intervention.

Challenges and Future Outlook

Despite the promising growth of the CGM market, there are challenges that need to be addressed. Cost remains a significant barrier to widespread adoption, particularly in low- and middle-income countries. Additionally, accuracy and user experience continue to be areas of focus for manufacturers, as patients require reliable and simple devices to manage their condition effectively.

However, with the rapid pace of technological advancements, increasing healthcare awareness, and government initiatives supporting diabetes management, the continuous glucose monitoring market is set to experience sustained growth. The introduction of OTC CGM systems, improvements in sensor technology, and broader adoption of digital health tools will help drive the future of diabetes care, making it more personalized and accessible for people worldwide.

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