Number of pages: 100 | Report Format: PDF | Published date: 15 November, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global continuous-blood glucose monitoring market was pegged at US$ 4.21 billion in 2021 and is expected to witness a CAGR of 9.90 % during the forecast period
Diabetes is a long-term metabolic condition marked by high blood glucose (also known as blood sugar), which over time can damage the heart, blood vessels, eyes, kidneys, and nerves. The FDA-approved continuous glucose monitor (CGM) is a device that continuously monitors blood sugar levels every 5 to 15 minutes, and automatically takes readings. It can assist in spotting patterns and trends that will help the patient and physician to get a full picture of diabetic patient. A steady flow of knowledge is provided such as how insulin, food, exercise, and sleep can affect blood sugar levels. Additionally, it enables to spot any asymptomatic changes in the body.
Rising incidence of diabetes, technological advancements that have resulted in the launches of new devices, and investments from several industry players are factors driving the global continuous-blood glucose monitoring market. However, the high cost of these devices can be a challenge to the market's expansion for continuous blood glucose monitoring.
The global continuous-blood glucose monitoring market has been analyzed from three perspectives: by component type, by end user, and by region.
Continuous-Blood Glucose Monitoring Market by Component Type
Based on component type, the market is segmented into sensors, integrated insulin pumps, and transmitters & receivers. The sensor segment dominated the market in 2021. The sensors are used in the devices to measure a patient’s blood glucose levels. A filament coated in glucose detecting enzymes is used by a continuous glucose monitor (CGM) device to find glucose in the interstitial fluid (the fluid between the cells). The three basic parts of a glucose biosensor are typically biological recognition elements, a transducer that turns this recognition into a signal, and a processing system that turns the signal into readable form. The transmitter is a small and light weight device which is attached to the sensor in a snug fit. Depending on whether the sensor is linked with a pump, the transmitter wirelessly transfers glucose data from the sensor to an insulin pump to the monitor. The user carries the receiver, a small, discrete device that displays data transmitted from the transmitter. This gadget displays the real-time glucose level. Additionally, the device notifies about any sudden situation. A lot of CGMs can communicate glucose data straight to an insulin pump.
Continuous-Blood Glucose Monitoring Market by End User
Based on end user, the market for continuous glucose monitoring market is segmented into diagnostic centers, hospitals, and homecare services. The homecare segment has dominated the global market. Home glucose monitoring can give patients and physicians important information for managing diabetes mellitus and hypertension. Home monitoring enables patients to actively participate in their care and enhance clinical outcomes and treatment adherence. In order to effectively manage diabetes mellitus and hypertension, patients and doctors can benefit from homecare blood glucose and blood pressure monitoring at the comfort of their homes.
Continuous-Blood Glucose Monitoring Market by Region
Based on region, the global continuous-blood glucose monitoring market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America region dominated the market in 2021. Factors affecting the growth of the market are the presence of leading market players along with reimbursement programs such as Dexcom patient assistance program, Abbott Diabetes Care Patient Assistance Program, Medtronic diabetes patient relief programs. Additionally, the market is growing due to high incidences of diabetes in the region. The European market for the global continuous-blood glucose monitoring market is characterized by a high geriatric population base suffering from diabetes. Asia Pacific is likely to grow at high CAGR over the forecast period because of the region's high patient population, rising demand for monitoring systems, and emerging nations that have improved their healthcare standards.
Some of the prominent players operating in the continuous-blood glucose monitoring market are