Continuous Glucose Monitoring Systems Industry Projected to Reach US$ 103.5 Billion by 2033 | Future Market Insights, Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Germany's continuous glucose monitoring (CGM) systems industry is experiencing substantial growth, fueled by a growing patient population seeking digital health solutions. Diabetes education programs are vital in enhancing patient awareness and knowledge, driving increased adoption of CGM systems to effectively manage and monitor blood glucose levels. This trend underscores the market's potential for further expansion and its role in improving diabetes care in Germany.
NEWARK, Del, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The continuous glucose monitoring systems industry is projected to be valued at US$ 11.1 billion in 2023 and US$ 103.5 billion by 2033. The predicted compound annual growth rate (CAGR) for the global market is 25.1% over the forecast period.
The continuous glucose monitoring systems industry has witnessed significant growth and innovation in recent years. These systems have revolutionized diabetes management by providing real-time data on glucose levels, enabling individuals to monitor their blood sugar levels continuously throughout the day.
Diabetes is a chronic condition affecting millions of people worldwide. Traditionally, individuals with diabetes had to rely on fingerstick tests to measure their blood glucose levels, often providing only a snapshot of their glucose levels at a specific moment. However, continuous glucose monitoring (CGM) systems offer a more comprehensive approach, offering continuous and dynamic data to help patients and healthcare professionals make informed decisions about diabetes management.
The CGM market's growth can be attributed to several factors. First and foremost, the increasing prevalence of diabetes globally has created a substantial demand for innovative solutions to manage the disease effectively. Moreover, rising awareness about the benefits of CGM systems, such as improved glycemic control, reduced risk of complications, and enhanced quality of life, has driven their adoption.
Technological advancements have been crucial in shaping the continuous glucose monitoring systems market. Modern CGM devices are more accurate, user-friendly, and convenient than earlier. They offer features like wireless connectivity, smartphone integration, and customizable alerts, making diabetes management more seamless.
The market has also witnessed a surge in the development of minimally invasive and implantable CGM devices, further improving patient comfort and adherence. These innovations cater to various patient segments, including children, adults, and the elderly, enhancing the overall accessibility of CGM technology.
The Continuous Glucose Monitoring Systems Industry has been witnessing substantial growth as it offers a revolutionary approach to diabetes management, providing real-time glucose level data for patients. With the rising prevalence of diabetes worldwide, these systems have become integral in optimizing patient care and ensuring better glucose control. The market's innovation and effectiveness are poised to improve the quality of life for individuals with diabetes significantly,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI) analyst.
Real-time monitoring: CGM devices provide continuous updates on blood glucose levels, allowing users to proactively manage their condition and take necessary actions to control blood sugar levels.
Data analysis and insights: Many CGM systems come with accompanying software and apps that analyze the data collected over time, helping users and healthcare professionals to identify patterns trends, and make more informed treatment decisions.
Alerts and alarms: CGM systems can notify users when their glucose levels are too high or too low, providing a safety net and reducing the risk of severe hypoglycemic or hyperglycemic episodes.
Improved patient outcomes: CGM systems have been associated with improved diabetes management, reduced HbA1c levels, and decreased risk of diabetes-related complications.
Non-invasive options: Traditional CGM systems require the insertion of a small sensor under the skin to measure glucose levels. However, there has been ongoing research and development of non-invasive or minimally invasive CGM devices.
Continuous Glucose Monitoring Systems Industry Segmentation:
By Components:
Transmitters and Monitors
Sensors
Insulin Pump
By End Users:
Home Care Diagnostics
Hospitals
ICU/Critical Care
By Region:
North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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