Continuous Glucose Monitoring (CGM) Market Size (2024 - 2029)

Continuous Glucose Monitoring (CGM) Market Analysis

The Continuous Glucose Monitoring Market size is estimated at USD 11.63 billion in 2024, and is expected to reach USD 21.32 billion by 2029, growing at a CAGR of 12.89% during the forecast period (2024-2029).

Diabetes accounts for a significant portion of healthcare spending. Thus, it requires increased epidemiological surveillance, treatment, and preventive measures. Various companies help reduce these costs and improve the health and well-being of people through programs that target disease prevention and management. Hence, these factors are expected to fuel the growth of the continuous glucose monitoring devices market. Diabetes is anticipated to persist as a significant concern in the coming years, mainly attributed to lifestyle changes. Type 1 diabetes is strongly linked to a family history of the condition in a few countries like the United States and India, but the exact cause is unknown. Nonmodifiable factors increase the risk for type 1 diabetes, though maintaining a healthy lifestyle is important for managing the symptoms and long-term complications associated with the condition. Thus, the prevalence of diabetes globally is projected to experience significant growth during the forecast period, thus boosting the market for monitoring devices such as continuous glucose monitors (CGMs) for effective disease control and management.

As per the International Diabetes Federation (IDF), Africa is projected to witness a 134% surge in the diabetic population from 2021 to 2045, whereas North America and the Caribbean are expected to experience a 24% increase in the disease population. By 2045, China is likely to have the highest number of individuals affected by diabetes globally. According to the International Diabetes Federation 2022 reports, the prevalence of diabetes in adults in the United States was about 11.8% in 2022. Thus, such a high prevalence is expected to drive the demand for continuous glucose monitoring (CGM) devices for effective disease control, thereby augmenting market growth over the forecast period.

Continuous glucose monitoring devices help type1 and type 2 diabetes patients to manage their diabetes with lesser fingerstick tests. It is a wearable technology device to track glucose levels through apps. Most CGM devices take readings every five to ten minutes all day long. CGM devices have a wireless transmitter to transfer the glucose data from the sensor to the receiver.

Therefore, with the rising prevalence of diabetes and the rising demand for continuous glucose monitoring devices is anticipated to bolster the market growth over the forecast period.

Continuous Glucose Monitoring (CGM) Industry Segmentation

As per the scope of the report, patients can manage type 1 or type 2 diabetes with the use of continuous glucose monitoring (CGM) devices by performing fewer fingerstick tests. Blood sugar levels are continuously monitored by a sensor located just under the skin. Results are sent via a transmitter to a cell phone or wearable technology. The continuous glucose monitoring market is segmented by component, end user, and geography. By component, the market is segmented into sensors and durables. The end user segment is further divided into hospitals/clinics and home/personal. The report also covers the market sizes and forecasts for major countries across different regions. The market size is provided for each segment in terms of value (USD).