The USA CGM market is expected to grow at a CAGR of 19.01%, from an initial value of US$3.02 billion in 2021 to US$10.22 billion by 2028.
Continuous sugar monitoring (CGM), sometimes referred to as sugar continuous glucose monitoring, automatically monitors blood glucose throughout the day. Making more educated choices about maintaining daily medication use, a healthy diet, and physical activity can be aided with real-time glucose monitoring. A small sensor used in CGM is implanted beneath the skin, often on the arm or abdomen. The sensor picks up interstitial glucose, which is present in the intercellular fluid. The sensor examines the glucose level every few minutes, and wireless data transmission sends the results to a monitor.
Moreover, the closed-loop bionic/artificial pancreas has been given a blueprint because of CGMS-based technologies. Thus, businesses that manufacture glucose monitoring devices concentrate largely on creating novel and cutting-edge CGMS. It has several applications for healthcare settings (hospital ICUs, diagnostic centers, and clinics), for all age groups, and geographical locations. A growing awareness of diabetes preventative care, new product debuts, government efforts, and the CGM device market are the major market drivers for the CGM Market.
The United States dominates the market, among other nations, because of its population's high prevalence of diabetes and its capacity to adapt to new technologies. Start-up businesses in the diabetes industry are innovating new technologies in the United States. The usage of CGM devices in addition to insulin pumps is essential. It may be assumed that the number of CGM devices marketed will increase as more diabetic people use insulin pumps to regulate their blood sugar levels. Many health issues are related to diabetes. Diabetes patients need to make several adjustments throughout the day to keep their blood glucose levels within normal ranges. For example, they may need to administer more insulin or consume more carbs. Hence, it is anticipated that the market would expand as more people with diabetes use continuous monitoring devices.
The increasing prevalence of diabetes is expected to drive the market for CGM in the United States.
Many factors, such as increasing urbanization and the growing tendency towards a sedentary lifestyle in developing and industrialized countries, are the main causes of the increased incidence of diabetes. The rise of Type-1 and Type-2 diabetes is the key factor in the growing global acceptance of monitoring devices. Also, a significant population with insulin-dependent diabetes, the introduction of new technologies by industry participants, and favorable reimbursement rules all contribute to an increase in demand for diabetes monitoring tools like CGMs.
The expansion is anticipated to be fueled by the increasing convenience of continuous glucose monitoring devices for consumers.
The increase in demand for continuous glucose monitoring devices in the USA is because of the convenience of the use of monitoring devices, as it displays trend graphs and direction arrows so that diabetic patients can anticipate deflection in glucose highs and lows throughout the day. The use of long-lasting sensors in continuous monitoring devices does not require frequent replacement, which adds to the convenience in the usage and will drive the market.
In December 2022, the FDA approved the next-generation Dexcom G7 Continuous Glucose Monitoring (CGM) System for individuals with all types of diabetes ages two and older, according to DexCom, Inc., the world leader in real-time continuous glucose monitoring for people with diabetes.
In June 2022, according to Abbott, the company is developing a cutting-edge bio-wearable that combines a sensor to continuously monitor both ketone and glucose levels. The U.S. Food and Drug Administration has granted the system a breakthrough device designation.
| Report Metric | Details |
|---|---|
| Total Market Size in 2021 | USD 3.02 billion |
| Total Market Size in 2028 | USD 10.22 billion |
| Forecast Unit | Billion |
| Growth Rate | 19.01% |
| Study Period | 2016 to 2028 |
| Historical Data | 2016 to 2019 |
| Base Year | 2020 |
| Forecast Period | 2021 – 2028 |
| Segmentation | Application, End-User Industry |
| Companies |
|