The global continuous glucose monitoring device market size is expected to reach USD 14.78 billion by 2029 according to a new study by Polaris Market Research. The report “Continuous Glucose Monitoring Device Market Share, Size, Trends, Industry Analysis Report By End-Use (Homecare Diagnostics, Hospitals); By Component Type; By Region; Segment Forecast, 2022 – 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing diabetes rates across the globe have led to increased cardiovascular diseases such as heart attack, strokes, kidney damage, and others, which is expected to boost the demand for these products over the forecast period. For instance, in 2019, as per the International Diabetes Federation (IDF), about 462.9 Billion people were affected by diabetes globally.
Technology advancement along with innovative features like ease of use, alarm, mealtime alerts, among others, is expected to benefit the industry growth. Furthermore, the outbreak of the COVID-19 pandemic has increased health-related concerns and awareness among individuals, which in turn is expected to increase the demand for the product over the forecast period.
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North America is expected to hold the major share over the forecast period due to the presence of major industry players along with increasing technological advancement in these products. However, Asia Pacific is expected to grow at a significant rate due to increasing diabetic patients in countries such as China and India.
Some of the players operating in the global industry include Echo Therapeutics, Inc., A. Menarini Diagnostics, Abbott Laboratories, Dexcom, Inc., Bayer AG, Glycens, GlySens Incorporated, Insulet Corporation, F. Hoffmann-La Roche Ltd., STMicroelectronics, GE Healthcare, Johnson & Johnson, Medtronic plc, LifeScan, Medtrum Technologies, Inc., Micron Technology Inc., Microchip Technology Inc., Nemaura Medical, Inc., NXP Semiconductors, Novo Nordisk, Qualcomm, Senseonics Holdings, Inc., Roche Diagnostics, and Tandem Diabetes Care.
Polaris Market Research has segmented the continuous glucose monitoring device market report on the basis of component type, end-use, and region:
Continuous Glucose Monitoring Device, Component Type Outlook (Revenue – USD Billion, 2017 – 2029)
- Transmitters & Receivers
- Insulin Pumps
Continuous Glucose Monitoring Device, End-Use Outlook (Revenue – USD Billion, 2017 – 2029)
- Homecare Diagnostics
Continuous Glucose Monitoring Device, Regional Outlook (Revenue – USD Billion, 2017 – 2029)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa