The global continuous glucose monitoring (CGM) systems industry is poised for remarkable growth, surging from USD 11.1 billion in 2023 to an anticipated USD 103.5 billion by 2033, reflecting an impressive compound annual growth rate (CAGR) of 25.1% over the forecast period. This rapid expansion underscores the increasing reliance on innovative healthcare solutions for diabetes management.
With the prevalence of diabetes rising globally, the demand for effective blood glucose monitoring solutions has never been higher. CGM systems, renowned for their real-time, 24/7 monitoring capabilities, provide patients and healthcare providers with accurate and continuous insights into blood glucose levels. This marks a significant improvement over traditional fingerstick methods, offering enhanced convenience, accuracy, and better health outcomes.
The adoption of CGM technology highlights a broader trend towards patient-centric healthcare innovations. These systems not only empower individuals to take proactive control of their health but also enable timely medical interventions, significantly improving quality of life for those managing diabetes. As awareness of these benefits grows, the CGM market is expected to see sustained and dynamic expansion.
Key Takeaways:
- Market Growth: Valued at USD 11.1 billion in 2023, projected to reach USD 103.5 billion by 2033, with a CAGR of 25.1%.
- Innovation in Diabetes Care: Transition from traditional fingerstick methods to real-time CGM systems enhances monitoring accuracy and patient convenience.
- Global Diabetes Prevalence: Rising diabetes cases globally are fueling the adoption of advanced monitoring solutions.
- Improved Outcomes: Continuous monitoring supports better diabetes management and quality of life.
For further insights into this transformative market trend, stay tuned for upcoming updates and analysis.
A Full Report Overview –
https://www.futuremarketinsights.com/reports/continuous-glucose-monitoring-systems-market
Key Highlights
- According to a report by the International Diabetes Federation, around 32.2 million people have diabetes in the United States.
- The growing advanced technologies are developing more effective and cost-effective continuous glucose monitoring patches to read glucose levels.
- Continuous glucose monitoring device helps to manage diabetes Type 1 and Type 2 patients send details to your transmitter, such as a smartphone.
Competitive Landscape in the Continuous Glucose Monitoring Systems Market
The present key players fragment the global market. These players are making their efforts to offer high-quality healthcare devices to relief patients. They are investing huge amounts in research and development activities to develop innovative products to satisfy patients’ requirements. Key players are contributing their role in upsurging the global market to another height.
These players are adopting marketing strategies such as mergers, agreements, acquisitions, and partnerships to collect huge revenue in the market. Healthcare manufacturers are focused on sustainability to reduce environmental impacts. These players are likely to lift the global market upward through their innovations and product launches in the coming years.
Key Players in the Continuous Glucose Monitoring Systems Market
- 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
Recent Developments in the Continuous Glucose Monitoring Systems Market
- In 2020, Abbott announced its newly launched product FREESTYLE LIBRE. It is a real-time monitoring device that helps to monitor and update blood glucose levels.
- In 2021, Smart Meter announced its new glucose monitor device to monitor gestational diabetes.
- In 2022, Nemaura Medical Inc. announced its new agreement with EVERSANA. This agreement took place to increase the company’s portfolio in the United States.
- In 2022, the United States FDA approved Abbott’s patient monitoring devices. The approval of Free Style Libre 3 device enhance the company’s strong image.
- In 2022, Senseonics Holdings Inc. announced its collaboration with Nurse Practitioner Group. This collaboration took to provide at-home services in the United States.
Key Segments in the Continuous Glucose Monitoring Systems Market
By Components:
- Transmitters and Monitors
- Sensors
- Insulin Pump
By End-use Sector:
- Home Care Diagnostics
- Hospitals
- ICU/Critical Care
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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