IMARC Group, a leading market research company, has recently releases report titled “Continuous Glucose Monitoring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global continuous glucose monitoring systems market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Continuous Glucose Monitoring Systems
Continuous glucose monitoring systems (CGMSs) are advanced medical devices designed to monitor and manage glucose levels in individuals with diabetes. They comprise various components, such as a small sensor injected under the skin to measure glucose levels, a transmitter that sends the data wirelessly to a receiver or mobile device, and software or mobile applications that display the glucose readings and offer trend analysis and alerts. They provide real-time measurements of glucose levels, allowing users to track their blood sugar levels throughout the day and night. They assist patients in making informed decisions about insulin dosing, dietary choices, and overall diabetes management.
How Big Is the Continuous Glucose Monitoring Systems Market?
The global continuous glucose monitoring systems market size reached US$ 6.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.2 Billion by 2032, exhibiting a growth rate (CAGR) of 5% during 2024-2032.
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What are the growth prospects and trends in the continuous glucose monitoring systems industry?
At present, the increasing prevalence of diabetes among the masses due to excessive smoking, obesity, and physical inactivity represents one of the key factors supporting the growth of the market. In addition, there is a rise in the demand for CGMSs, as they are minimally invasive (MI) and offer an easy and effective way to manage diabetes. This, along with the growing demand for CGMSs to detect drastic changes in blood glucose levels and prevent hypoglycemic conditions, is positively influencing the market.
Moreover, the rising awareness among individuals about advanced treatments for diabetes is propelling the growth of the market. Besides this, the integration of CGMSs with telemedicine and remote monitoring platforms to allow healthcare providers to remotely monitor glucose levels of patients, providing timely interventions and reducing the need for in-person visits, is strengthening the market growth.
Additionally, continuous monitoring eliminates the need for frequent fingerstick tests, providing a less invasive and more comfortable monitoring experience for patients. In line with this, CGMSs provide individuals with diabetes real-time data on their glucose levels, allowing for more precise and timely management of the condition. This technology helps patients and healthcare providers make informed decisions about insulin dosing, diet, and lifestyle choices, ultimately leading to better glycemic control.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Sensors
- Transmitters and Receivers
- Integrated Insulin Pumps
Breakup by Demographics:
- Child Population (≤14 years)
- Adult Population (>14 years)
Breakup by End User:
- Clinics and Diagnostics Centers
- ICUs
- Home Healthcare
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
A. Menarini Diagnostics S.r.l., Abbott Laboratories, DexCom Inc., F. Hoffmann-La Roche AG, Glysens Incorporated, LifeScan Inc. (Johnson & Johnson), Medtronic PLC, Medtrum Technologies Inc., Nemaura Medical Inc., Novo Nordisk A/S, Senseonics Holdings Inc. and Waveform Technologies Inc.
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