According to projections, the continuous glucose monitoring devices market sales will be worth US$ 11.1 billion in 2023 and US$ 103.5 billion in 2033. During the projected period, the global market is expected to develop at a compound annual growth rate (CAGR) of 25.1%.
Diabetes is a chronic condition affecting millions of people worldwide. Traditionally, individuals with diabetes had to rely on fingerstick tests to measure their blood glucose levels, which often provided only a snapshot of their glucose levels at a specific moment. Continuous glucose monitoring (CGM) systems, however, offer a more comprehensive approach, offering continuous and dynamic data to help patients and healthcare professionals make informed decisions about diabetes management.
The CGM market’s growth can be attributed to several factors. First and foremost, the increasing prevalence of diabetes globally has created a substantial demand for innovative solutions to manage the disease effectively. Moreover, rising awareness about the benefits of CGM systems, such as improved glycemic control, reduced risk of complications, and enhanced quality of life, has driven their adoption.
Get a Sample Copy of the Report :
https://www.futuremarketinsights.com/reports/sample/rep-gb-694
Technological advancements have played a crucial role in shaping the continuous glucose monitoring systems market. Modern CGM devices are more accurate, user-friendly, and convenient compared to earlier versions. They offer features like wireless connectivity, smartphone integration, and customizable alerts, making diabetes management more seamless for users.
The global market for continuous glucose monitoring systems is anticipated to reach a value of US$ 1.1 billion in 2022 and grow at a CAGR of 10.8% to US$ 3.0 billion by the end of 2032. In 2021, the global continuous glucose monitoring systems market will be dominated by sensors, with a share of around 48.5%, according to a recent analysis by Future Market Insights.
The market has also witnessed a surge in the development of minimally invasive and implantable CGM devices, which have further improved patient comfort and adherence. These innovations cater to various patient segments, including children, adults, and the elderly, enhancing the overall accessibility of CGM technology.
Key features of CGM systems include Continuous Glucose Monitoring Systems Market:
- Real-time monitoring: CGM devices provide continuous updates on blood glucose levels, allowing users to proactively manage their condition and take necessary actions to control blood sugar levels.
- Data analysis and insights: Many CGM systems come with accompanying software and apps that analyze the data collected over time, helping users and healthcare professionals to identify patterns, trends, and make more informed treatment decisions.
- Alerts and alarms: CGM systems can be set to notify users when their glucose levels are too high or too low, providing a safety net and reducing the risk of severe hypoglycemic or hyperglycemic episodes.
- Improved patient outcomes: The use of CGM systems has been associated with improved diabetes management, reduced HbA1c levels, and decreased risk of diabetes-related complications.
- Non-invasive options: Traditional CGM systems require the insertion of a small sensor under the skin to measure glucose levels. However, there has been ongoing research and development of non-invasive or minimally invasive CGM devices.
Request Report Methodology:https://www.futuremarketinsights.com/request-report-methodology/rep-gb-694
Top Companies Profiled:
- Herbalife Nutrition
- GNC Holdings
- NOW Health
- Nutramax Laboratories
- Nature’s Bounty
- Banyan Botanicals
- Source Naturals
- Nutramarks Inc
- Nature’s Way Products
- Abbott
- Natural Immunogenics
- Solaray Inc.
- Sambucol USA
- Quantum Health, Inc.
- Vitabiotics Ltd.
- Rainbow Light
- AdvoCare
- Pure Encapsulations, LLC.
- Country Life, LLC
- Natural Health Concept
Key Segments :
By Components:
- Transmitters and Monitors
- Sensors
- Insulin Pump
By End Users:
- Home Care Diagnostics
- Hospitals
- ICU/Critical Care
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Unlock Tailored Insights: Customize Your Report for Maximum Impact:
https://www.futuremarketinsights.com/customization-available/rep-gb-694
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
