The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Continuous Blood Glucose Monitoring Global Market Report 2024, the continuous blood glucose monitoring market is expected to show significant growth in the forecast period.
The continuous blood glucose monitoring market has witnessed a remarkable surge in recent years, showcasing robust growth. Let’s delve into the key drivers, market projections, and emerging trends that are shaping this dynamic landscape.

Market Overview and Projected Growth
The continuous blood glucose monitoring market is on an upward trajectory, set to grow from $8.09 billion in 2023 to $9.68 billion in 2024, exhibiting a Compound Annual Growth Rate (CAGR) of 19.7%. Looking ahead, the market is poised to reach $20.44 billion by 2028, driven by a CAGR of 20.5%. This exponential growth is attributed to factors such as the increasing aging population, rising home healthcare, telehealth expansion, and a surge in healthcare expenditure and disposable income.

Drivers of Growth in the Historic Period

• Increase in diabetes prevalence
• Regulatory compliance
• Demand for remote monitoring
• Emerging markets
• Rise in healthcare spending

Anticipated Trends in the Forecast Period

• Wearable integration
• Artificial intelligence and machine learning
• Advanced sensors and accuracy
• Partnerships and collaboration

Rising Diabetes Prevalence Sparks Market Expansion
The continuous blood glucose monitoring market is witnessing significant growth, primarily fueled by the escalating prevalence of diabetes. Diabetes, a health condition characterized by fluctuating blood glucose levels, necessitates continuous monitoring for effective management. The International Diabetes Federation projects a global increase in individuals living with diabetes, reaching 643 million by 2030 and further rising to 783 million by 2045. This surge from approximately 537 million in 2021 underscores the critical role of continuous blood glucose monitoring in managing diabetes.

Key Players in the Continuous Blood Glucose Monitoring Market
Major companies contributing to the growth of the continuous blood glucose monitoring market include F. Hoffmann-La Roche Ltd., Lifescan Inc., Medtronic plc., Abbott Laboratories, and others. These companies play a pivotal role in developing innovative solutions to address the evolving needs of patients.

Technological Advancements Driving Market Growth
Technological advancements stand out as a key trend shaping the continuous blood glucose monitoring market. Companies in the sector are actively engaged in developing advanced solutions to enhance their market position. Philips, a Netherlands-based health technology company, exemplifies this trend with the launch of non-invasive monitors for COPD patients in 2021. These monitors, based on ExpiraFlow technology, aid healthcare professionals in detecting and screening expiratory flow limitation for optimal home care therapy.

Medtronic Expands Portfolio with EOFlow Acquisition
In May 2023, Medtronic PLC. took a significant stride in bolstering its diabetes product portfolio by acquiring EOFlow, a South Korea-based company specializing in the insulin patch pump EOPatch. This strategic acquisition aims to broaden Medtronic’s capacity to provide comprehensive support to a larger global community managing diabetes, all within a unified Medtronic ecosystem.

Segmentation and Regional Insights
The continuous blood glucose monitoring market is segmented based on components, applications, and end-users. Components include Insulin Pumps, Sensors, Transmitters, and Receivers. Applications span Type 1 Diabetic Patients, Type 2 Diabetic Patients, Gestational Diabetes, and Critical Care Patients. End-users encompass Hospitals, Homecare Diagnostics, and Other End Users.

In terms of regional dominance, North America emerged as the largest region in the continuous blood glucose monitoring market in 2023.

Conclusion
The continuous blood glucose monitoring market is witnessing unprecedented growth, driven by the imperative need for effective diabetes management. With rising technological innovations, strategic acquisitions, and a focus on collaborative partnerships, the industry is poised for transformative advancements. As the market continues to evolve, it holds promise in providing individuals with diabetes the tools and support they need to monitor and manage their condition effectively.

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