The continuous glucose monitoring devices market was Valued Around 5365 million in 2021 and is Expected to Reach 25869 million by 2028 with a growing CAGR of 25.2% from 2022 to 2028
The continuous glucose monitoring devices market was Valued Around 5365 million in 2021 and is Expected to Reach 25869 million by 2028 with a growing CAGR of 25.2% from 2022 to 2028 Precision Business Insights (PBI) in its report titled Global Gastric Balloon System Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018-2022 and Forecast 2022-2028
Continuous glucose monitoring devices can provide glucose levels in the blood anytime needed. The sensors which will take the readings are placed under the skin and the transmitters send radiofrequency signals to a monitoring and display device. The device is an excellent method for diabetes management. The adoption of newer technologies to monitor the glucose levels can help in long term care and in crisis conditions of hypoglycemia or hyperglycemia. Continuous glucose monitoring devices market is expected to gain traction due to an increased global prevalence of diabetes coupled with the adoption of technological advancements. The prevalence is doubled in adult population. Favorable reimbursement policies for continuous glucose monitoring devices expected to boost the market. Lack funding and the lack of advanced healthcare infrastructure in lower-income countries can hamper the market. Most of the primary health-care practitioners unable to access basic technologies to manage diabetes. The global continuous glucose monitoring devices market is divided into following categories-
And lastly, on the basis of geographical regions, the global continuous glucose monitoring devices market have five major regions- North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. U.S. is expected to account for the predominant market share in North America, owing to the wide range of diabetes population in the country. Rise in the diabetes prevalence and inclined towards novel diagnostic devices is expected to drive the market. Mexico continuous glucose monitoring devices market is expected to accelerate due to increased prevalence of obesity and overweight. Asia Pacific continuous glucose monitoring devices market is expected to expand at unprecedented rate due to increase in the diabetes prevalence in India and China. The rise in the healthcare expenditure in emerging economies is expected to boost the market growth. The prevalence of diabetes is high in low and middle-income countries than the higher income countries. FDA approval for Dexcom G5 mobile continuous glucose monitoring system in 2016. The device consists of the externally-worn sensor that continuously measures blood glucose levels. Diabetes imposes the huge economic burden on the global healthcare system. Robust R&D investments enable offer innovative products to monitor blood glucose levels. Companies are entering into strategic partnerships to expand geographical footprints. Favorable government policies in most countries to control diabetes create awareness to reduce risk factors and improve management of diabetes able to create demand for monitoring devices.
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Some of the key market players in the continuous glucose monitoring (CGM) devices market include Medtronic, Dexcom, Abbott Laboratories Inc., Roche Diagnostics, and Animas Corporation, Tandem Diabetes Care, and Optiscan. Some of the market developments include Dexcom, Inc., receiving U.S.