Continuous Glucose Monitoring Devices Market Growth Accelerated by High Adoption of Self-Monitoring

Continuous glucose monitoring devices provide real-time glucose level monitoring in interstitial fluid or blood to patients with diabetes. These devices are easy to use and help patients avoid complications associated with fluctuating glucose levels through continuous monitoring.

Market key trends:

The high adoption of self-monitoring of glucose levels is the major trend augmenting the growth of the continuous glucose monitoring devices market. Self-monitoring helps patients manage diabetes more efficiently and make timely therapeutic adjustments. Additionally, continuous glucose monitoring devices empower patients to have more freedom with respect to physical activities and food habits while still keeping glucose levels within normal range. The real-time data and alerts about impending hyperglycemia or hypoglycemia provided by these devices allow timely intervention and better disease management. This has resulted in increased preference for self-monitoring over conventional finger pricking methods, thus driving the market growth.

Segment Analysis
The global continuous glucose monitoring devices market is segmented by device type, demographics, and end user. Based on device type, the invasive CGMs segment holds a significant share as these devices are able to provide highly accurate glucose readings and alarms for hypoglycemic or hyperglycemic events. However, the share of non-invasive CGMs is growing at a higher rate due to their advantages of pain-free glucose monitoring and convenience.

Based on demography, the adult CGM segment dominates currently due to the high prevalence of diabetes in adults. However, the pediatric/neonatal CGMs segment is growing rapidly due to the rising incidences of congenital disabilities and type 1 diabetes in children.

By end user, the homecare segment generates most of the demand as patients prefer the convenience of self-monitoring of glucose levels at home over frequent hospital visits. The outpatient settings segment is expected to witness growth with rising awareness.

Key Takeaways
Global Continuous Glucose Monitoring Devices Market Growth is expected to witness high growth at a CAGR of 7.4% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 2.09 billion by 2023.

Regional analysis: North America currently holds the highest share in the continuous glucose monitoring devices market owing to supportive reimbursement policies, high awareness levels, and presence of key players in the region. However, Asia Pacific is emerging as the fastest-growing regional market with increasing healthcare expenditure and a large diabetic patient pool in countries like China and India.

Key players operating in the continuous glucose monitoring devices market are 3M, BSN Medical, Sigvaris AG, Cardinal Health, Medi GmbH & Co, ArjoHuntleigh Healthcare India, Bio Compression Systems Inc, Zimmer Biomet India, Spectrum Healthcare and Vissco Healthcare. 3M is a leading player with a wide product portfolio and global presence. BSN Medical focusing on developing innovative medical compression hosiery products.

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