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Continuous Glucose Monitoring Market Worth USD 11.10 Billion by 2031, Driven by Rising Diabetes and Technological Advancements
According to SNS Insider, the Continuous Glucose Monitoring Market valuation was valued at USD 7.92 Billion in 2023 and is expected to reach USD 11.10 Billion by 2031.
Market Scope:
The changing lifestyle and the overall rise in consumption of alcohol in the developed and emerging economies are the major factors influencing the growth of the market. The rising innovation of the new products by the key players is mainly because of the rapid changes in the leading demographic indicators. The market will be attending several opportunities regardless of the adversities the market is facing because of external pressures. The facts stated by WHO which included the non-communicable diseases will be rising by 21.05% till 2035. These statistics will be the imperative factor which will support the overall demand for the products offered by the established and the new entrants in the Continuous Glucose Monitoring Market.
The other key factors which SNS Insider analyzed throughout conducting the research, are the insights related to the rise in the clinical trials. The rising clinical trials in the developed nations supported by the government will be making the market grow at an intense level.
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List of Continuous Glucose Monitoring Market Players profiled in Report:
- Dexcom Inc
- Medtronic Inc
- Abbott Laboratories
- Ypsomed AG
- GlySens Incorporated
- Ascensia Diabetes Care
- Hoffmann-La Roche Ltd.
Continuous Glucose Monitoring Market introducing untapped opportunities, as the rising adoption rates among the geriatric population are shifting rapidly.
Market Analysis:
The rising threats of data security and the rising cases of data breaches will be the key challenges which will be faced by the key players during the forecasted period. SNS Insider predicts the number of cases to increase by 128% by 2031. The threats are not only related to cybersecurity but are also aligned with the high cost and the complexity of the use. People suffering from diabetes are mostly the geriatric population and many of the patients have complained about the difficulty in operating the systems. The key players are thus improving the overall feasibility for the patients by developing products which will help them to target the masses. When we mention the masses, we are directly pointing towards the emerging nations. The rise in diabetes patients in emerging nations was mainly observed to rise by 42% by 2031.
Continuous Glucose Monitoring Market Segmentation
By Component
- Sensors
- Transmitters
- Receivers
By End-Use Outlook
- Hospitals
- Home Care
- Others
By Connectivity Outlook
- Bluetooth
- 4G
Segmental Analysis:
The Continuous Glucose Monitoring Market is divided into three segments by component, by end-use outlook and by connectivity. The major focus of CEOs will be on end-use outlook. The rising adoption of Continuous Glucose Monitoring systems in hospitals and homes will make the segments attractive in the future scenario. For instance, in the end-use outlook segment, the home care segment will be holding the maximum share with the hospitals growing at the highest CAGR. The share estimated by SNS Insider for the hospitals is 32%. The worth-noticing element in the analysis is related to the changing share of home care according to geography. For instance, home care will have less share and less dominance in emerging and undeveloped nations.
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Regional Analysis:
The U.S. is the marketplace which is generating maximum revenue for the key players. In 2021 11.6% of the U.S. population was suffering from diabetes, according to the U.S. government statistics the numbers are expected to reach 20-25% by 2040. This is the major reason why the companies are focusing on the U.S. to improve their overall revenues and profit pools. North American region will be holding a share of 51% during the forecasted period in the Continuous Glucose Monitoring Market. U.S. and Canada. Are the major markets which will be attracting the maximum demand and growth for North America region.
Should companies expect revenue from emerging nations amidst slow macro-economic growth?
Yes! Despite of the slow economic growth and the geopolitical headwinds the companies will be experiencing high demand from the emerging nations. The rising number of patients and the high adoption rates of product usage are the driving factors which are contributing to the growth of the Continuous Glucose Monitoring Market. Abbott’s CEO mentioned in one of the interviews how the company is primarily positioning itself in the developing nations of APAC to improve its overall marketplace and attract maximum opportunity from the domestic and international markets.
Key Takeaways:
- According to the Centers for Disease Control and Prevention 4 Mn in the U.S. are suffering from diabetes, making the U.S. an attractive marketplace for the incumbents and new entrants. This will also be supported by the rising initiatives by the government which are introducing several schemes and policies to improve the overall accessibility for the people living in the rural areas.
- The market will be experiencing high demand from the developed and emerging nations regardless of the macro and micro crises related to the economic situations.
- The adoption rates for Continuous Glucose Monitoring systems in the geriatric population were observed to shift from 11% to 29% in the short span. The forecast by SNS Insider predicts the numbers to reach 45% by 2031 introducing untapped opportunities for the companies of Continuous Glucose Monitoring Market.
Overview of Recent Developments:
The approval by the FDA is encouraging the companies to develop new products and align themselves with the latest technologies available in the market. Abbott got approval for Freestyle Libre 3. Similarly, approval of MiniMed 780G which was introduced by Medtronic. These approvals are worth witnessing as it explains to us the support by the government to improve the overall diagnosis and the quality of treatment.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Continuous Glucose Monitoring Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Continuous Glucose Monitoring Market Segmentation, By Component
Chapter 9 Continuous Glucose Monitoring Market Segmentation, By End-Use Outlook
Chapter 10 Continuous Glucose Monitoring Market Segmentation, By Connectivity Outlook
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…
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