Unlocking the Future of the Continuous Glucose Monitor System Market: Growth Rate, Key Trends, and Opportunities for 2025-2034
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How has the continuous glucose monitor system market size evolved in recent years?
In recent times, the market size for the continuous glucose monitor (CGM) system has experienced significant growth. The market, which is projected to increase from $8.83 billion in 2024 to $9.67 billion in 2025, is expected to have a compound annual growth rate (CAGR) of 15.4%. Factors such as the increase in the elderly population, heightened awareness about diabetes control, rise in disposable income, growth in research and development investments, and an uptick in healthcare spending have contributed to the market’s growth during the historical period.
What are the predictions for the continuous glucose monitor system market size in the coming years?
In the coming years, the market size for the continuous glucose monitor (CGM) system is projected to experience fast-paced growth. It is anticipated to reach a valuation of $17.00 billion by 2029, expanding at a compound annual growth rate (CAGR) of 15.1%. The expansion during the forecast period can be credited to the rising cases of diabetes and obesity, socio-economic evolution, an increase in clinical trials, and urban growth. Key trends for the period include the merging with smart devices, the growing applications of artificial intelligence (AI), non-obtrusive monitoring solutions, the proliferation of wearable technology, the advent of telemedicine, and distance healthcare solutions.
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What key factors are fueling the growth of the continuous glucose monitor system market?
The continuous glucose monitor system market is set to expand, driven by the escalating prevalence of diabetes. This chronic health condition, marked by elevated blood sugar levels due to the body’s inability to effectively produce or use insulin, is on the rise. This increase primarily stems from growing obesity rates, unhealthy eating habits, lack of physical activity, and an aging demographic. Continuous glucose monitoring (CGM) devices provide dynamic glucose readings, enabling diabetes management through trend detection and alerts for abnormal levels. These devices enhance glycemic management while reducing the necessity for regular finger-pricking. Notably, in June 2024, the NHS, a UK government department, identified over 549,000 additional individuals in England at risk of developing type 2 diabetes in 2023. This brings the total number of people in the non-diabetic hyperglycemia or pre-diabetes category registered with a GP to 3,615,330—an approximately 20% increase from the 3,065,825 recorded in 2022. The growing prevalence of diabetes is thus fueling the growth of the continuous glucose monitor system market.
How is the global continuous glucose monitor system market divided into key segments?
The continuous glucose monitor system market covered in this report is segmented –
1) By Component: Transmitters, Receivers, Sensor
2) By Technology: Real Time Continuous Glucose Monitoring, Intermittently Scanned Continuous Glucose Monitoring
3) By Demography: Child Population, Adult Population
4) By Application: Type-1 Diabetes, Type-2 Diabetes, Gestational Diabetes
5) By End-User: Diagnostics Centers, Hospitals, Clinics, Intensive Care Unit (ICUs), Home Healthcare
Subsegments:
1) By Transmitters: Bluetooth-Enabled Transmitters, Wireless Transmitters
2) By Receivers: Dedicated Devices (CGM Receiver), Smartphone-Based Receivers, Cloud-Connected Receivers
3) By Sensor: Enzyme-Based Sensors, Non-Enzyme-Based Sensors, Electrochemical Sensors
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Who are the key firms paving the way for growth in the continuous glucose monitor system market?
Major companies operating in the continuous glucose monitor system market are Abbott Corporation, Medtronic PLC, Murata Manufacturing Co. Ltd., Dexcom Inc., Sinocare Inc., Tandem Diabetes Care Inc., Ascensia Diabetes Care Holdings AG, Glooko Inc., DarioHealth Corp., Menarini Diagnostics SRL, Senseonics Holdings Inc., WaveForm Technologies Inc., Medtrum Technologies Inc., Biolinq Incorporated, Ultrahuman Inc., GlySens Incorporated, Glucotrack, EOFLOW CO. LTD., Nemaura Medical Inc., Meiqi Medical Equipment, Nipro Diagnostics UK Limited
Which trends are expected to transform the continuous glucose monitor system market?
Major companies operating in the continuous glucose monitor system market are focusing on developing advanced over-the-counter continuous glucose monitors (CGMs) to enhance accessibility and expand their reach among non-prescription users. An over-the-counter (OTC) continuous glucose monitor (CGM) is a device that tracks glucose levels in real-time without a prescription. It provides consumers with easy, convenient access to monitor their glucose independently. For instance, in September 2024, Abbott Laboratories, a US-based medical device company, launched Lingo in the United States. Designed for adults without diabetes, Lingo enables users to track glucose levels, offering valuable insights into the effects of diet and exercise on overall health. With a wearability of up to 14 days, this device supports Abbott’s strategy to tap into the growing market of consumers focused on prediabetes management and wellness, all without the need for a prescription.
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What regions are contributing significantly to the growth of the continuous glucose monitor system market?
North America was the largest region in the continuous glucose monitor (CGM) system market in 2024. The regions covered in the continuous glucose monitor system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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