Global Continuous Glucose Monitoring (CGM) Devices Market, by Component (Transmitters, Receivers, Insulin Pumps, and Sensors) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 8,865.65 Million in 2022 and is expected to exhibit a CAGR of 24.8% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The market players are engaged in product development and innovation to increase the portfolio diversification and to introduce exciting new technologies. The continuous glucose monitoring devices is a part of the artificial pancreas systems that are widely adopted by the patients for diabetes care. In 2017, Medtronic launched the world's first Hybrid Closed Loop system- MiniMed 670G for the people suffering from type 1 diabetes. The system features the most advanced and the only US FDA approved insulin pump, SmartGuard technology, and Guardian Sensor 3, to enable personalized and automated delivery of basal insulin. Moreover, the support from National Institute of Diabetes and Digestive and Kidney Disease (NIDDK) to fund several important studies on different types of artificial pancreas devices to help people with type 1 and type 2 diabetes and gestational diabetes manage their disease is a major factor to accelerate the development for the introduction of novel and highly efficacious CGM devices.

Global Continuous Glucose Monitoring (CGM) Devices Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on the global continuous glucose monitoring (CGM) devices market, owing to its increase in demand for continuous monitoring of COVID-19 patients, in both, hospital and home settings was significant during the pandemic. For instance, in July 2020, according to the U.S. Food and Drug Administration, recognized that home-use blood glucose meters may be used by patients with diabetes who are hospitalized due to COVID-19 or by those who reside in long-term care facilities (nursing homes, skilled nursing facilities, and assisted living facilities) to check their own blood glucose levels and provide the readings to the health care personnel caring for them. As part of efforts to help protect health care providers and patients from exposure to COVID-19 to the extent possible during this pandemic, this page provides answers to frequently asked questions that health care providers and other personnel at health care settings may have on patients' use of these devices. In addition, some home-use blood glucose meters have built-in wireless data transmission capabilities, which can facilitate remote patient monitoring. Therefore, the FDA encourages hospitals and long-term care facilities to consider policies to allow patients to self-test using home-use blood glucose meters, which may include leveraging patients' own home-use blood glucose meters or dispensing a home-use blood glucose meter to patients upon admission to the hospital or to those residing in long-term care facility.

Global Continuous Glucose Monitoring (CGM) Devices Market: Key Developments

In February 2022, Senseonics Holdings, Inc., a medical technology company focused on the development and manufacturing of long-term, implantable continuous glucose monitoring (CGM) systems for people with diabetes announced the approval of the next-generation Eversense E3 CGM System by the US Food and Drug Administration (FDA). The Eversense E3, including proprietary sacrificial boronic acid (SBA) technology to extend longevity to 6 months, is planned to be available to patients in the U.S. through Ascensia Diabetes Care, Senseonics’ global commercial partner, beginning in the second quarter of 2022.

Browse 35 Market Data Tables and 26 Figures spread through 156 Pages and in-depth TOC on “Global Continuous Glucose Monitoring (CGM) Devices Market”-  Forecast to 2030, Global Continuous Glucose Monitoring (CGM) Devices Market, by Component (Transmitters, Receivers, Insulin Pumps, and Sensors) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/continuous-glucose-monitoring-market-57

Key Takeaways of the Global Continuous Glucose Monitoring (CGM) Devices Market:

  • The global continuous glucose monitoring (CGM) devices market is expected to exhibit a CAGR of 13.2% during the forecast period due to increasing technology advances and launch of the new products. For instance, in June 2022, One Drop, an international non-profit organization for diabetes management platform, presented new research at the 82nd Scientific Sessions of the American Diabetes Association on attitudes and adoption of continuous glucose monitors (CGM) among people with type 2 diabetes (T2D). The results presented at ADA 2022 confirms limited CGM use for T2D despite openness to adoption.
  • Among regions, North America is estimated to account for the largest market share in the global continuous glucose monitoring (CGM) devices market over the forecast period, owing to the increasing prevalence of diabetes in that region. For instance, in 2018 among the U.S. population, crude estimates for 2018 were: 34.2 million people of all ages—or 10.5% of the U.S. population—had diabetes. An American is diagnosed with diabetes every 17 seconds in 2018, according to American Journal of Managed Care.  According to the Centers for Disease Control and Prevention [CDC], in 2020, more than 34 million Americans have diabetes, which is nearly 11% of the U.S. population. According to American Diabetes Association there are 1.5 million new cases of diabetes in the U.S. each year.
  • Major players operating in the global continuous glucose monitoring (CGM) devices market include Medtronic, Dexcom, Inc., Abbott Laboratories, Medtrum Technologies, Inc., Tandem Diabetes Care, Senseonics, Glycens, Insulet Corporation, and Nemaura Medical, Inc., STMicroelectronics, NXP Semiconductors, Qualcomm, Taiwan Semiconductor Manufacturing Company Limited, GE Healthcare, Microchip Technology Inc., Texas Instruments Inc. and Micron Technology Inc.

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