The US continuous glucose monitoring market has become an established segment of the diabetes care industry. Continuous glucose monitors offer real-time tracking of glucose levels and alert users in case of potentially dangerous highs or lows. This helps people with diabetes better manage their condition. The market comprises products used for the monitoring of glucose levels in interstitial fluid or blood through a small sensor device worn under the skin that transmits glucose data to a display device. The Global United States Continuous Glucose Monitoring Market is estimated to be valued at US$ 599.47 million in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.
Continuous glucose monitors help people with diabetes stay within target glucose ranges by providing frequent readings of glucose levels over time, detecting trends and comparing readings to set thresholds. This reduces complications such as blindness, kidney disease, heart disease, strokes, and amputations which are typically associated with fluctuating blood sugar levels over long periods of time. CGM systems also allow sharing of data with caregivers and family, facilitating management of the condition. The increasing prevalence of diabetes, rising obesity rates, and growing adoption of advanced diabetes management tools are some key factors driving the growth of this market.
Key Takeaways
Key players operating in the US continuous glucose monitoring market are Abbott, Dexcom, Inc., Medtronic, Senseonics, Inc., F. Hoffmann-La Roche Ltd., GLUCOVATION, INC., Nemaura Medical Inc., GlySens, GlucoModicum, and Signos, Inc. Abbott and Dexcom together accounted for over 80% of the market share in 2020.
The growing diabetic population in the US has augmented the demand for advanced glucose monitoring devices in the country.According to the CDC, over 34 million Americans have diabetes currently. If left uncontrolled, diabetes can result in severe health complications, driving the need for continuous monitoring tools.
Technological advancements in CGM systems have enhanced user-convenience and efficacy. Advances like smartphone connectivity, bio-compatible sensors, minimal calibration requirements and extended sensor life have boosted adoption in recent years. Transition to non-invasive and wearable monitors is expected to further propel the market.
Market Trends
Transition to non-invasive/minimally invasive CGM: Major players are developing wearable and patch-based non-invasive CGM systems to eliminate the need for finger pricks or insertion of sensors under the skin.
Apps and Software: Players are focusing on developing advanced smartphone apps, predictive algorithms and integration of artificial intelligence for enhanced data analysis and alerts.
Hospital/clinic use: CGM systems are increasingly being used in hospital settings for tight glycemic control in diabetic patients undergoing surgeries or critical care.
Market Opportunities
Increasing insurance coverage and reimbursement: Better insurance coverage and favorable reimbursement policies can boost adoption of high-cost CGM devices.
Focus on growing senior population: Growing senior citizen population is a key target segment given increased diabetes prevalence with age. User-friendly large display CGM with telemedicine support can help this group.
Impact Of COVID-19 On United States Of America Continuous Glucose Monitoring Market
The COVID-19 pandemic has adversely impacted the growth of United States of America Continuous Glucose Monitoring Market in 2020. Restrictions imposed like lockdowns, social distancing norms, shutting down of manufacturing units and disruption in supply chain networks hampered the market growth. However, demand for continuous glucose monitors increased as diabetes patients preferred home glucose monitoring over visiting hospitals/clinics to manage blood sugar levels and avert chances of contracting virus. Furthermore, telehealth emerged as a preferred mode of treatment/consultation for diabetes care during this period.
Post pandemic, demand is expected to surge for advanced CGM systems with remote monitoring capabilities as they enable healthcare providers to supervise diabetic patients without physical visits. Market players are focusing on launching integrated diabetes management solutions along with CGM devices. Rising awareness regarding benefits of CGM in managing diabetes, growing popularity of affordable and user-friendly products, improving reimbursement policies and strong funding support from government bodies will further accelerate market expansion during forecast period. However, shortage of skilled labor and increased component/production costs post pandemic may pose initial challenges.
The United States of America Continuous Glucose Monitoring Market is highly concentrated in regions like California, Texas and New York in terms of value. These states have wide consumer base suffering from diabetes along with density of leading market players and healthcare facilities. California alone contributes over 25% share owing to presence of major tech hubs like Silicon Valley backing development of innovative CGM devices.
The Southeast region consisting of states like Florida and Georgia is witnessing fastest growth for United States of America Continuous Glucose Monitoring Market driven by increasing prevalence of diabetes, rising obesity rates, elderly population and focus of players to expand presence in emerging markets. Supportive insurance policies and growing focus on preventive healthcare are stimulating adoption of CGM devices in this region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
What Are The Key Data Covered In This United States of America Continuous Glucose Monitoring Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United States of America Continuous Glucose Monitoring's growth between 2024 and 2031.
:- Accurate calculation of the size of the United States of America Continuous Glucose Monitoring and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United States of America Continuous Glucose Monitoring Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United States of America Continuous Glucose Monitoring vendors
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