Continuous Glucose Monitoring Market Value to Exceed US$ 2 Billion by 2028: Transparency Market Rese

In 2020, the global market reached a valuation of US$ 992.8 million. It is projected to grow at a compound annual growth rate (CAGR) of 9.5% from 2021 to 2028. By the end of 2028, the global continuous glucose monitoring devices market is anticipated to exceed the value of US$ 2 billion.

Continuous Glucose Monitoring Industry: Overview

The rising incidence and prevalence of both type 1 and type 2 diabetes worldwide are expected to drive the global market's growth in the forecast period. Continuous glucose monitoring (CGM) systems, which offer real-time glucose sensing and monitoring capabilities, are experiencing a significant increase in usage compared to traditional monitoring methods. This surge in adoption is attributed to their user-friendly interface, provision of real-time data and trends, and improved accuracy.

Furthermore, continuous glucose monitoring has been found to be particularly beneficial in managing diabetes, especially for type 1 diabetics, and in mitigating long-term complications associated with the disease. Factors such as increasing awareness in both developed and developing countries, advancements in technology, and a rising number of diabetic patients are expected to drive the market's growth during the forecast period.

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Major Players:

Abbott,Bayer AG,Dexcom, Inc.,Glysens Incorporated,Insulet Corporation,Medtronic,Nova Biomedical Corporation,Senseonics Incorporated,Livongo,BeatO,Jana Care,iXensor,DiaMonTech AG

Market Segmentation:

• Device/Brand
• • Guardian Real Time CGM System
  • Dexcom Seven Plus
  • Dexcom G4 Platinum
  • FreeStyle Navigator
  • MiniMed Paradigm Revel/Veo System
  • Others

Market Drivers and Challenges:

Key drivers propelling the continuous glucose monitoring market include the growing prevalence of diabetes, technological advancements in CGM devices, rising healthcare expenditure, and supportive government initiatives. However, challenges such as high costs associated with CGM devices, reimbursement issues, and data privacy concerns may hinder market growth to some extent.

Market Trends:

Several trends are shaping the continuous glucose monitoring market, including the development of wearable CGM devices, integration of artificial intelligence and machine learning algorithms for data analysis, and increasing collaborations among key market players to enhance product offerings and expand their market presence.

Future Outlook:

The future outlook for the continuous glucose monitoring market appears promising, with continued technological innovations, increasing adoption of CGM devices, and growing focus on personalized healthcare solutions. Market players are expected to capitalize on these opportunities to drive further growth and innovation in the coming years.

Key Market Study Points:

• Analysis of market dynamics including drivers, challenges, opportunities, and trends.
• Assessment of market size and growth potential across different segments and regions.
• Examination of regulatory frameworks and their impact on market growth.
• Evaluation of competitive landscape including key players, recent developments, and strategies.

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