High Importance of Continuous Monitoring for Diabetes Management Bolsters Continuous Glucose Monitoring Device Market Size

Currently, diabetes management is extremely complex, as the disease results in people creating new lifestyle habits, medications, and so on. Moreover, people suffering from diabetes require careful monitoring of blood glucose levels. The demand for Continuous Glucose Monitoring Device is high among diabetic people owing to the high glucose levels that are difficult to maintain. These devices are the most advanced technology devices that have reshaped manual diabetes management with their components such as sensors, transmitters, and monitors. With their smart features, Continuous Glucose Monitoring Devices provide people with diabetes real-time updates regarding blood sugar levels, which helps them modify dietary patterns or insulin doses as directed by the healthcare physician. Such real-time updates reduce the risk of hypoglycemia or hyperglycemia among people living with diabetes. Further, significant expansion of the medical device industry in recent years, primarily during the COVID-19 pandemic, has positively impacted the Continuous Glucose Monitoring Device market size. Advancements in Continuous Glucose Monitoring Device technologies have made life easier for people with diabetes. For example, insulin administration and blood glucose monitoring have transformed from multiple finger pricks daily to a few swipes on a cell phone.

Technological Trends

Technology plays a vital role in diabetes care, as a wide range of devices and tools are enabled with modern technologies. Continuous Glucose Monitoring Device manufacturers target low- and middle-income (LMIC) markets rather than high-income markets, as they anticipate that diabetic people from these countries would switch to Continuous Glucose Monitoring Device products, particularly if they are reimbursed well for these devices. Moreover, continuous monitoring instead of repetitive self-monitoring aids in additional relief. Continuous Glucose Monitoring Devices integrated with automated treatment delivery systems (e.g., insulin pumps) can offer benefits to individuals who don’t have to manually adjust insulin dosages based on Continuous Glucose Monitoring Device readings. Thus, advancements in Continuous Glucose Monitoring Devices are likely to bring new Continuous Glucose Monitoring Device market trends in the coming years.

Surging Popularity of Continuous Glucose Monitoring Devices in Elderly Population Propels Continuous Glucose Monitoring Device Market Size

The Generations (American Society on Ageing) report reveals that more than 13.3 million people older than 65 years of age have diabetes in the US. The demand for Continuous Glucose Monitoring Devices is rising in elderly people owing to their ability to monitor blood glucose levels and trends at any time. Moreover, the devices can alert patients in case of hypoglycemia and hyperglycemia, which are critical parameters for individuals, particularly for older adults with a long history of diabetes. Clinical evidence reveals that effective use of Continuous Glucose Monitoring Devices results in improvements in hemoglobin A1C levels in older adults. Also, as older adults are at a greater risk of hypoglycemia compared to younger people, they are recommended to seek more routine checks for hypoglycemia and hyperglycemia. Therefore, the adoption of Continuous Glucose Monitoring Devices to manage diabetes among the older population can result in better health outcomes resulting in improving quality of life.

Continuous Glucose Monitoring Device Market: Geographic Overview

The scope of the Continuous Glucose Monitoring Device market report entails North America (US, Canada, and Mexico), Europe (Spain, UK, Germany, France, Italy, and Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America). In terms of share, North America dominated the Continuous Glucose Monitoring Device market in 2022. The Asia Pacific Continuous Glucose Monitoring Device market is expected to register the highest CAGR during 2022–2030. China dominates the Continuous Glucose Monitoring Device market in Asia Pacific. Growing manufacturing facilities, commercial expansion, and the development of new innovative products are the factors anticipated to drive Continuous Glucose Monitoring Device market growth.

Continuous Glucose Monitoring Device Industry Developments and Future Opportunities:

A few strategic developments by leading players operating in the Continuous Glucose Monitoring Device market, as per their press releases, are listed below:

• In July 2021, Terumo Corporation announced the launch of the Dexcom G6 CGM system in Japan. The system allows real-time glucose monitoring. Its innovative technology uses a small, wearable sensor and transmitter to measure glucose values and automatically send those values wirelessly to a smart device or receiver every 5 minutes. The product also generates customizable alerts to proactively warn users about their glucose levels when they go out of range. Furthermore, an Urgent Low-Soon (ULS) Alert can warn users within 20 minutes in advance, indicating a severe hypoglycemic event, giving diabetic patients time to take appropriate action.
• In June 2023, i-SENS announced receiving approval for the first locally-developed Continuous Glucose Monitoring Device named CareSens Air from the South Korean Ministry of Food and Drug Safety. The newly launched product is the smallest and lightest Continuous Glucose Monitoring Device available in South Korea, which can be used for 15 consecutive days. It also features a calibration mechanism to make blood glucose readings more reliable.
• In January 2024, Medtronic, announced CE Mark approval for the “MiniMed 780G system” with the Simplera Sync, a disposable, all-in-one Continuous Glucose Monitoring Device seeking no finger prick or overtape. The new product will be available in Europe and Medtronic had phased commercial launch in Europe in Spring 2024.

Continuous Glucose Monitoring Device Market: Competitive Landscape and Key Developments

The Continuous Glucose Monitoring Device market analysis is carried out by identifying and evaluating key players in the market across different regions. B. Braun SE, F. Hoffmann-La-Roche Ltd, LifeScan Inc, Medtronic, Abbott Laboratories, Ypsomed Holding AG, Sensionics, Nipro Corp, GE Healthcare, and Terumo Corp are among the prominent players profiled in the Continuous Glucose Monitoring Device market report. These companies focus on introducing new technologies, upgrading existing products, and undertaking geographic expansions to be able to address the globally increasing consumer demand.