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Continuous Glucose Monitoring (CGM) Devices Market Covid19 Impact Analysis, Industry Outlook, Growth, Revenue, Trends and Forecasts 2030 | Medtronic, Dexcom, Inc., Abbott Laboratories

February 21st, 2023 Coherent Market Insights Releases

Continuous Glucose Monitoring Market Analysis

Continuous Glucose Monitoring (CGM) Devices Market, by Region (Asia Pacific, Latin America, Africa, Europe, Middle East, and North America) and by Component (Transmitters, Receivers, Insulin Pumps, and Sensors) – Share, Size, Opportunity Analysis, and Outlook, 2022 – 2030

The continuous glucose monitoring (CGM) devices offer diabetic patients a comprehensive view of their glucose levels throughout the day, making them an ideal tool for those with type 1 and 2 diabetes to enhance glucose control and improve overall health and well-being. Integration with smartphones for cloud–based data storage and effortless diabetes management are significant aspects of current CGM devices that have significantly contributed to their widespread adoption. With a graphical display and customizable alerts, CGM devices provide a full picture of glucose trends and can signal any disruptions in the status of glucose.

It is projected that the market for global continuous glucose monitoring (CGM) devices is expected to reach US$ 8,865.65 Mn in 2022 with a CAGR of 24.8% from 2022 to 2030.

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The growth of continuous glucose monitoring devices market is anticipated to increase due to the expected rise in diabetes incidence.

Diabetes is a chronic illness caused by insufficient insulin production in the pancreas or the body’s inability to utilize insulin effectively. Diabetes ranked as the ninth most common death cause worldwide, in 2019, resulting in an anticipated 1.5 Mn deaths. As of 2017, approximately 9 million individuals had type 1 diabetes, with most residing in lower-to-middle-income nations. Every year, 1.5 Mn deaths are directly linked to diabetes. The International Diabetes Federation predicts that approximately 700 Mn adults across the globe will have diabetes by 2045. 116 Mn people in China have diabetes, making it the most prevalent disease in the world, followed by India (77 Mn individuals) and the United States (31 Mn individuals).

The greater convenience provided by CGM devices compared to self-monitoring devices is expected to drive growth in the continuous glucose monitoring (CGM) devices market.

By showing direction arrows and glucose trend graph, the CGM enables individuals with diabetes to anticipate potential highs and lows, providing alerts during times of distraction such as exercise, sleep, or play. The market for CGM devices is anticipated to experience notable growth in the Asia Pacific region due to partnerships between diabetes educators, endocrinologists, and organizations focused on diabetes prevention.

An example of a government initiative is the National Diabetes Services Scheme (NDSS), which was launched in 2017 by the Australian Government. It offers fully subsidized continuous glucose monitoring (CGM) products to young adults under the age of 21 and children with type 1 diabetes who are eligible. Moreover, the NDSS has contributed US$ 35 Mn to the JDRF Clinical Research Network to aid in the discovery of a cure for juvenile diabetes. In addition, the government has supported the Insulin Pump Program to make insulin pumps more affordable for individuals with type 1 diabetes who have no access to private health insurance.

Impact of the COVID-19 Pandemic

In December 2019, after the emergence of the COVID-19 virus, the illness had expanded its reach to more than 100 nations worldwide, leading the World Health Organization on January 30, 2020, to declare it a public health emergency.

There are three primary ways in which COVID-19 can impact the economy, including direct influence on the demand and production for medical devices and drugs, disturbances in the distribution channels, and the financial impact on firms and markets. As a result of widespread lockdown measures, certain countries, including India, Saudi Arabia, China, Egypt, the U.A.E., and others, are encountering difficulties in drugs transportation between different locations.

The COVID-19 pandemic had a favorable effect on the global continuous glucose monitoring (CGM) devices market due to the rising demand for remote monitoring of COVID-19 patients. During the pandemic, the demand for CGM devices grew suddenly. As an example, in November 2021, the National Center for Biotechnology Information reported that continuous glucose monitoring (CGM) systems are approved by the US Food and Drug Administration for use in the ambulatory setting. Over 10.5% of the United States population has diabetes, both diagnosed and undiagnosed. When diabetes is not properly managed, it can cause macrovascular and microvascular complications that result in eventual hospitalizations and multiple comorbidities. The prevalence of diabetes in the inpatient setting that includes more than 25% of hospitalized patients, contributes to a rise in hospital-relevant expenses. The majority of the research papers on COVID-19 patients have concentrated on examining the practicality and precision of inpatient CGM to enhance glycemic results and alleviate the workload of healthcare specialists.

Utilizing inpatient CGM offers multiple advantages with minimum risks. The COVID-19 pandemic has emphasized the significance of remote glucose monitoring. Real-time CGM has proven to be valuable in the early identification and prohibition of hypoglycemia along with a means to lower hypoglycemia. It provides glycemic patterns that can support more proactive and prompt decisions in diabetes management, thus minimizing significant events like hyperglycemia or hypoglycemia. In addition, CGM technology reduces the necessity for healthcare personnel to enter patients’ rooms, decreasing the frequency of painful and unpleasant POC checks while lowering the nursing workload. Moreover, CGM usage has resulted in reduced PPE usage and significantly reduces the risk of exposure for healthcare workers.

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Recent Developments

DexCom Inc., a company specializing in the development, production, and distribution of continuous glucose monitoring systems for diabetes management, revealed in April 2022 the G7, its newest glucose monitor. The company also introduced a simpler and more affordable system, the DexCom One, which will be launched globally. DexCom, Inc. has also received a breakthrough designation from the U.S. Food and Drug Administration for its wearable CGM that can monitor the patients’ blood sugar levels during their hospital stay. Additionally, the DexCom One aims to cater to a wider market for individuals with diabetes by providing multiple products at varying price points.

Market Restraints

The significant obstacles impeding the expansion of the global continuous glucose monitoring (CGM) devices market have the elevated price of CGM devices. In October 2019, the Centers for Medicare and Medicaid Services declared that CGM systems fail to fulfill the official criteria of durable medical equipment (DME), preventing them from being categorized under DME. The cost of a CGM system is higher compared to a regular glucose meter due to the lifespan of the sensor, which is a significant factor affecting user acceptance, cost, and inconvenience. Additionally, governments, health plans, and insurance companies worldwide typically do not reimburse for CGM usage, causing patients to be hesitant about adopting it. As a result, market growth is restricted, with CGM costing roughly US$ 3000 per patient per year.

Leading companies

Some of the leading companies in the global continuous glucose monitoring (CGM) devices market consist of Senseonics, Micron Technology Inc., Insulet Corporation, Microchip Technology Inc., Qualcomm, Medtronic, Taiwan Semiconductor Manufacturing Company Limited, Medtrum Technologies Inc., Dexcom Inc., STMicroelectronics, Texas Instruments Inc., Abbott Laboratories, Nemaura Medical Inc., GE Healthcare Tandem Diabetes Care, NXP Semiconductors, and Glycens.

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Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Continuous Glucose Monitoring (CGM) Devices Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Continuous Glucose Monitoring (CGM) Devices Industry Impact

Chapter 2 Global Continuous Glucose Monitoring (CGM) Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Continuous Glucose Monitoring (CGM) Devices (Volume and Value) by Type
2.3 Global Continuous Glucose Monitoring (CGM) Devices (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Continuous Glucose Monitoring (CGM) Devices Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 6 East Asia Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 7 Europe Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 8 South Asia Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 9 Southeast Asia Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 10 Middle East Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 11 Africa Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 12 Oceania Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 13 South America Continuous Glucose Monitoring (CGM) Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Continuous Glucose Monitoring (CGM) Devices Business
Chapter 15 Global Continuous Glucose Monitoring (CGM) Devices Market Forecast (2023-2030)
Chapter 16 Conclusions
Research Methodology

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About US

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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