Continuous Glucose Monitoring Market Trends and Revenue Forecast 2024-2032
The Continuous Glucose Monitoring (CGM) Market was valued at USD 8.56 billion in 2023 and is projected to reach USD 23.25 billion by 2031, growing at a compound annual growth rate (CAGR) of 13.4% during the forecast period of 2024–2031. Continuous glucose monitoring has become a critical component in modern diabetes care, offering real-time glucose data to patients and healthcare providers alike. The increasing prevalence of diabetes, combined with growing awareness of advanced diabetic care technologies, is driving consistent market demand.
The Continuous Glucose Monitoring Market Size is witnessing notable expansion due to technological advancements in wearable medical devices, improved sensor accuracy, and growing adoption among both Type 1 and Type 2 diabetes patients. Additionally, supportive healthcare infrastructure and favorable reimbursement policies in developed countries are boosting market penetration. The market is also experiencing strong interest from investors and healthcare innovators, accelerating the development of compact and user-friendly CGM solutions.
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KEY PLAYERS:
The players operating in the continuous glucose monitoring market are the following:
- Abbott Laboratories: Freestyle Libre 1, Freestyle Libre 3, Freestyle Libre 3 Pro
- Dexcom: Dexcom G6, Dexcom G7
- Medtronic: Enlite sensor, MiniMed 670G system
- Tandem Diabetes Care: t: slim X2 pump
- Senseonics Holdings: Eversense XL
- Nipro Corporation: Nipro Cosmos system
- Roche Diagnostics: Accu-Chek Aviva Plus CGM system
- F. Hoffmann-La Roche Ltd: (Parent company of Roche Diagnostics)
- Ypsomed: YpsoPump, YpsoDiab system
- Insulet Corporation: Omnipod system
- Medtrum Technologies: MiaoMiao 2, MiaoMiao 3
- FreeStyle Libre: Freestyle Libre 2, Freestyle Libre 3
- LifeScan: OneTouch Reveal system
- Ascensia Diabetes Care: Contour Next Flash, Contour Next One
- B. Braun: Melsungen CGM system
- Terumo Corporation: Terumo CGM system
- Sanofi: Freestyle Libre 3
- ARKRAY: GlucoCard Nexus system
- Prodigy Diabetes Care: Prodigy AutoScan system
- ACON Laboratories: ACON CGM system
Key Highlights:
- Market value expected to reach USD 23.25 billion by 2031.
- Projected CAGR of 13.4% from 2024 to 2031.
- Rising global prevalence of diabetes and obesity acts as a major growth driver.
- Advancements in sensor technologies and mobile health integration support market growth.
- Growing demand for minimally invasive or non-invasive glucose monitoring solutions.
- Increasing adoption among pediatric and elderly populations.
- Favorable regulatory approvals and reimbursement frameworks in North America and Europe.
Future Scope:
The future of the CGM market lies in the integration of artificial intelligence and data analytics with glucose monitoring systems, enabling personalized and predictive diabetic care. Emerging trends such as cloud-based data platforms, remote patient monitoring, and smartphone connectivity are expected to redefine the way patients and clinicians manage diabetes. Furthermore, expanding applications beyond diabetes—such as wellness and metabolic health monitoring—could open new verticals within the industry.
Conclusion:
The Continuous Glucose Monitoring Market is set to undergo significant transformation as technology, healthcare policies, and consumer awareness align to combat the growing burden of diabetes. With strong market fundamentals and continuous innovation, CGM systems are not only improving lives but also reshaping the future of chronic disease management.
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