Continuous Glucose Monitoring (CGM) Market Size
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 11.63 Billion |
| Market Size (2029) | USD 21.32 Billion |
| CAGR (2024 - 2029) | 12.89 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Continuous Glucose Monitoring Market Analysis
The Continuous Glucose Monitoring Market size is estimated at USD 11.63 billion in 2024 and is expected to reach USD 21.32 billion by 2029, growing at a CAGR of 12.89% during the forecast period (2024-2029).
The global healthcare landscape is experiencing a significant shift due to the rising prevalence of diabetes. According to a report published by the American Diabetes Association in November 2023, about 1.2 million US citizens are diagnosed with diabetes every year. This trend is driving the demand for advanced monitoring technologies, particularly in the continuous glucose monitoring market. The increasing focus on preventive healthcare and the need for effective disease management are propelling the adoption of continuous glucose monitoring devices across various regions.
Technological advancements are playing a crucial role in shaping the continuous glucose monitoring market. The development of non-invasive glucose monitoring technologies and the integration of artificial intelligence are enhancing the accuracy and user-friendliness of CGM devices. These innovations are addressing the unmet needs of diabetic patients and expanding the potential user base. The market is also benefiting from the growing acceptance of wearable health devices and the increasing integration of CGM systems with smartphones and other digital platforms. In March 2024, Dexcom received FDA clearance for Stelo, an non prescription CGM device specifically designed for individuals with Type 2 diabetes who don't use insulin. This innovation exemplifies the industry's move towards more accessible and user-friendly devices.
Regulatory approvals and expanded reimbursement coverage are catalyzing market growth. The introduction of over-the-counter continuous glucose monitoring devices and the extension of coverage to broader patient populations are making these technologies more accessible. In 2023, UnitedHealthcare, a major health insurance company in the United States, began providing coverage for CGMs for people with type 2 diabetes who require insulin. This expansion of coverage makes the technology more accessible to a broader patient population.
Emerging markets, particularly in Asia-Pacific and Latin America, are presenting significant growth opportunities due to the rising diabetes prevalence and improving healthcare infrastructure. The CGM market is witnessing increased competition, with both established players and startups introducing innovative solutions, driving further advancements in the field.
Continuous Glucose Monitoring Industry Trends
Rising Diabetes Prevalence Propels Continuous Glucose Monitoring Market Growth
The escalating prevalence of diabetes worldwide is a primary catalyst for the continuous glucose monitoring (CGM) market expansion. According to the International Diabetes Federation, the African region is projected to experience a staggering 134% surge in the diabetic population from 2021 to 2045, while North America and the Caribbean are expected to see a 24% increase. This global trend underscores the growing need for advanced glucose monitoring solutions, positioning CGM devices as essential tools for effective diabetes management. The rising incidence of diabetes across diverse geographical regions is creating a substantial market opportunity for CGM manufacturers and driving innovation in glucose monitoring technology.
In the United States, the diabetes epidemic continues to fuel the demand for continuous glucose monitoring devices. The National Institute of Diabetes and Digestive and Kidney Diseases reported that 38.4 million people (11.6% of the population) had diabetes in 2022, with 38.1 million being adults. Furthermore, an alarming 97.6 million adults were diagnosed with prediabetes, representing about one-third of the total adult population. These statistics highlight the critical need for continuous glucose monitoring solutions to help manage blood sugar levels effectively and prevent complications associated with diabetes. The large prediabetic population also presents a significant potential market for continuous glucose monitoring devices as preventive and early intervention tools.
With over 352,000 Americans under age 20 estimated to have diagnosed diabetes in 2024, the pediatric diabetes market for CGM devices is also expanding rapidly. This growing diabetic population across all age groups is driving the adoption of CGM diabetes devices for improved disease management and control. As a result, the continuous glucose monitoring market is experiencing robust growth, with manufacturers focusing on developing user-friendly, accurate, and technologically advanced CGM systems to meet the increasing demand.
Government Initiatives Accelerate Continuous Glucose Monitoring Market Expansion
Government support initiatives are playing a pivotal role in driving the continuous glucose monitoring market growth globally. In May 2023, India's Union Health Ministry unveiled an ambitious initiative to screen and provide standard care to 75 million individuals suffering from hypertension and diabetes by 2025. This large-scale effort, announced during a G20 co-branded event, demonstrates the government's commitment to addressing the rising diabetes prevalence and promoting better disease management. Such initiatives not only raise awareness about diabetes but also create a favorable environment for the adoption of advanced monitoring technologies like CGM devices, potentially boosting market growth in emerging economies.
In the United States, proactive government programs are fostering innovation and adoption of CGM technologies. The NGA Center for Best Practices launched the Diabetes Learning Lab in 2022 to assist governors and state officials in enhancing population health and addressing negative health trends. This program, involving representatives from Maryland, Alabama, Alaska, and Delaware, focused on implementing state plans to prevent or delay type 2 diabetes. By prioritizing diabetes prevention and management at the state level, these initiatives are likely to increase the demand for continuous glucose monitoring devices as part of comprehensive diabetes care strategies. Moreover, such programs often lead to improved reimbursement policies and coverage for continuous glucose monitoring devices, making them more accessible to a broader patient population.
The global nature of government support for diabetes management is evident in initiatives across various countries. For instance, in November 2023, the NHS in the United Kingdom established a program aimed at raising awareness about diabetes, educating the community, and promoting preventive measures against the disease. Similarly, the Korean Diabetes Association lowered the age for diabetes screening from 45 to 35 years to facilitate early diagnosis, particularly in light of increasing obesity rates. These government-led efforts to combat diabetes are creating a conducive environment for the growth of the CGM market. By emphasizing early detection, prevention, and effective management of diabetes, these initiatives are driving the adoption of advanced monitoring technologies, thereby fueling the expansion of the continuous glucose monitoring market on a global scale.
Continuous Glucose Monitoring Market Component Segment Analysis
Continuous Glucose Monitoring Sensors Market Analysis
The sensors segment dominates the Continuous Glucose Monitoring (CGM) market, playing a critical role in providing real-time glucose data, which forms the foundation of effective diabetes management. The segment's leadership is driven by continuous technological advancements that have significantly improved sensor accuracy, extended wear times, and enhanced overall user comfort. These improvements have been instrumental in shifting patient preferences from traditional blood glucose monitoring methods to more advanced CGM systems.
Interestingly, the sensors segment is not only the largest but also the fastest-growing component in the CGM market, projected to grow at 13.4% p.a. between 2024 and 2029. This accelerated growth is fueled by a confluence of factors, including the increasing prevalence of diabetes globally, growing awareness of the benefits of continuous glucose monitoring, and the introduction of novel sensor designs that address previous limitations. Recent regulatory approvals, such as FDA clearances and CE marks for new CGM sensors, have further catalyzed market expansion by broadening access and increasing patient options.
The sensors segment continues to evolve, with several key trends shaping its trajectory. Integration with smart devices has become a standard feature, allowing seamless connectivity with smartphones and other digital health platforms. Extended wear times, with some sensors now lasting up to 14 days, have significantly enhanced user convenience and adherence. Moreover, the development of non-invasive or minimally invasive sensors is addressing patient comfort concerns, potentially expanding the user base to include individuals who were previously hesitant about adopting CGM technology. As companies like Dexcom, Abbott, and Medtronic continue to introduce advanced sensor technologies, the segment is poised for sustained innovation in the coming years.
Continuous Glucose Monitoring Durables Segment Analysis
The durables segment, which includes components like transmitters and receivers, plays a crucial supporting role in the CGM ecosystem. While not as large as the sensors segment, durables are essential for the functioning of CGM systems, serving as the bridge between the sensor and the user interface. The importance of this segment lies in its ability to transform raw sensor data into actionable information for users and healthcare providers. Durables have seen significant technological advancements, with many now incorporating features like AI-based glucose predictions and hypoglycemia risk assessments, enhancing the overall value proposition of CGM systems.
The durables market is experiencing steady expansion driven by the overall growth of CGM adoption. Innovation in this segment focuses on improving compatibility with various smart devices, enhancing data management capabilities, and extending battery life. The development of more user-friendly interfaces and the integration of advanced analytics are key areas of focus, aimed at making CGM data more accessible and meaningful for users of all ages and technical proficiencies. Additionally, there's a growing trend towards creating durables that can work with sensors from different CGM brands, potentially expanding user options and fostering market competition.
The durables segment is characterized by its recurring revenue model, as transmitters typically require replacement every three to twelve months. Looking ahead, customization is emerging as a significant trend, with companies developing durables that cater to specific patient needs, such as pediatric-friendly designs or devices suitable for athletic activities. The future of the durables segment is likely to be shaped by advancements in wireless technology, further miniaturization of components, and the integration of CGM systems with other digital health platforms and automated insulin delivery systems. As interoperability between different CGM components improves, users may benefit from more flexible and personalized diabetes management solutions.
Continuous Glucose Monitoring Market Geography Segment Analysis
North America Continuous Glucose Monitoring Market Analysis
The North American market stands as a frontrunner in the global continuous glucose monitoring (CGM) landscape, driven by a high prevalence of diabetes and advanced healthcare infrastructure. The region's market is characterized by rapid technological advancements, with key players continuously introducing innovative CGM devices. Favorable reimbursement policies and increasing awareness about diabetes management are propelling market growth. The United States dominates the regional market, while Canada is experiencing significant growth due to government initiatives and rising diabetes prevalence.
United States Continuous Glucose Monitoring Market Analysis
The US market is at the forefront of CGM technology adoption. Valued at USD 5.6 billion in 2024, the US CGM market is fueled by a large diabetic population and robust healthcare spending. The country's market is marked by continuous product innovations, such as Dexcom's recently FDA-cleared over-the-counter CGM, Stelo, targeting Type 2 diabetes patients not on insulin. Expanding insurance coverage for CGM devices, including recent moves by major insurers to cover CGM for Type 2 diabetes patients, is significantly boosting market accessibility. The US market also benefits from substantial research funding, fostering further innovations in diabetes management technologies.
Canada Continuous Glucose Monitoring Market Analysis
Canada鈥檚 CGM market is experiencing robust growth, driven by increasing diabetes prevalence and government support for diabetes management. The country has seen a rise in CGM device approvals, such as Medtronic's Guardian 4 sensor with the MiniMed 780G system. Canadian health authorities are actively reviewing local commissioning practices to ensure compliance with guidelines recommending CGM technology for all Type 1 diabetes patients. This proactive approach, coupled with partnerships between health authorities and CGM manufacturers, is expected to drive market expansion in the coming years.
Europe Continuous Glucose Monitoring Market Analysis
The European CGM market is experiencing significant growth, driven by increasing diabetes prevalence and supportive healthcare policies across various countries. The region is characterized by a strong focus on technological advancements and a growing emphasis on personalized diabetes management. Countries like Germany, the United Kingdom, and France are at the forefront of CGM adoption, with their healthcare systems increasingly recognizing the long-term benefits of continuous monitoring for diabetes management.
Germany Continuous Glucose Monitoring Market Analysis
Germany stands as a key market for continuous glucose monitoring devices in Europe, with a robust healthcare system supporting diabetes management technologies. The country has seen a surge in CGM adoption, particularly among Type 1 diabetes patients. Recent product launches, such as Medtronic's Simplera CGM and Dexcom's G6 system, are driving market growth. Germany's market is also benefiting from increasing collaborations between local institutions and CGM manufacturers, fostering innovation and improving accessibility to these devices.
United Kingdom Continuous Glucose Monitoring Market Analysis
The UK market for continuous glucose monitoring devices is estimated to expand rapidly at 20% p.a. between 2024 and 2029, supported by initiatives from the National Health Service (NHS) and diabetes organizations. The country has seen a significant push towards making CGM technology available to all Type 1 diabetes patients through the NHS, as per recent NICE guidelines. The market is further bolstered by the introduction of advanced CGM systems, such as Abbott's Freestyle Libre 3, which offer improved features and user experience. The UK's focus on diabetes prevention and management is expected to drive continued growth in the CGM market.
Latin America Continuous Glucose Monitoring Market Analysis
The Latin American CGM market is witnessing steady growth, driven by rising diabetes prevalence and increasing awareness about advanced diabetes management tools. Countries like Brazil and Mexico are leading the regional market, with government initiatives playing a crucial role in market expansion. The region is characterized by a growing emphasis on improving diabetes care infrastructure and increasing accessibility to advanced monitoring technologies.
Brazil Continuous Glucose Monitoring Market Analysis
Brazil represents a significant market for CGM devices in Latin America, with a rapidly growing diabetic population driving demand. The country's healthcare system, including both public and private sectors, is increasingly focusing on diabetes management. Brazil's government has been investing in controlling diabetes spread, allocating substantial resources to healthcare. The market is benefiting from partnerships between the government and CGM companies to ensure continuous glucose monitoring cost remains affordable. These initiatives, coupled with increasing awareness about diabetes management, are expected to fuel Brazil's CGM market growth in the coming years, with growth projections set at 21.3% p.a. between 2024 and 2029.
Asia-Pacific Continuous Glucose Monitoring Market Analysis
The Asia-Pacific region presents a vast and rapidly growing market for continuous glucose monitoring devices, driven by the increasing prevalence of diabetes, particularly in countries like China and India. The market is characterized by a mix of established and emerging economies, each at different stages of CGM adoption. Factors such as improving healthcare infrastructure, rising disposable incomes, and growing awareness about diabetes management are fueling market growth across the region.
China Continuous Glucose Monitoring Market Analysis
China is the largest CGM market within APAC, contributing to 37.5% revenue of APAC CGM market sales in 2024. China鈥檚 CGM market is experiencing rapid growth, driven by the country's large diabetic population, which is estimated to reach 164 million by 2030. The market is characterized by increasing adoption of CGM technology, particularly among patients with higher self-management awareness and financial resources. Recent technological advancements, such as the approval of Sinocare i3 CGM device, are enhancing the precision and user-friendliness of CGM devices in the Chinese market. The government's focus on addressing the diabetes epidemic is expected to further boost the CGM market in the forecast period.
India Continuous Glucose Monitoring Market Analysis
India's CGM market is poised for significant growth, driven by the country's high diabetes prevalence and increasing healthcare expenditure. The market is seeing a rise in CGM adoption, with an estimated 25% of Type 1 Diabetes patients already using continuous glucose monitoring devices. The entry of both global players and local startups is driving innovation and increasing accessibility to CGM technology. Recent approvals of new continuous glucose monitoring devices and digital health tools, such as Abbott's FreeStyle LibreLink app, are expected to catalyze market growth by offering enhanced features and improved user experience.
Middle East and Africa Continuous Glucose Monitoring Market Analysis
The Middle East and Africa region is emerging as a promising market for CGM diabetes devices, driven by increasing diabetes prevalence and growing healthcare investments. Countries in the Gulf Cooperation Council (GCC), particularly Saudi Arabia, are leading the regional market adoption. The region is characterized by a growing focus on diabetes awareness and management, with governments and healthcare providers increasingly recognizing the importance of advanced monitoring technologies.
Saudi Arabia Continuous Glucose Monitoring Market Analysis
Saudi Arabia is a key market for CGM devices in the Middle East, with a high diabetes prevalence driving demand. The country's market is benefiting from increasing awareness campaigns and technological advancements in glucose monitoring devices. Recent approvals of innovative CGM systems, such as Nemaura Medical's non-invasive wearable glucose sensor, are expanding options for diabetes management in the country. The Saudi government's focus on early detection and management of diabetes is expected to further boost the CGM market in the coming years, with market size for 2029 projected at USD 260 million.
Continuous Glucose Monitoring Industry Overview
Top Companies in Continuous Glucose Monitoring Market
- Abbott
- Dexcom Inc.
- Medtronic Plc
- F. Hoffmann-La Roche Ltd
- Senseonics Holdings Inc.
- Ypsomed AG
- A. Menarini Diagnostics srl
- Medtrum Technologies
- Nemaura Medical Inc.
- i-Sens Inc.
CGM Market Consolidation and Global Leaders
The Continuous Glucose Monitoring market is characterized by a high level of consolidation, dominated by global conglomerates and specialists. Abbott, Dexcom, and Medtronic hold significant market shares as top continuous glucose monitoring companies, leveraging their established brand recognition and extensive R&D capabilities. The market has witnessed limited M&A activity, with companies focusing on organic growth and strategic partnerships to expand their product portfolios.
Market entry barriers are substantial due to high initial investments and stringent regulatory approval processes. However, the market's profitability and untapped potential in certain regions continue to attract new entrants, particularly innovative startups developing non-invasive monitoring technologies.
Innovation Drives CGM Market Competition
Leading CGM companies share common traits of continuous product innovation, operational agility, and strategic expansion. They focus on developing more accurate, user-friendly, and cost-effective devices to maintain their competitive edge. Key trends include the integration of artificial intelligence, machine learning, and data analytics to enhance glucose monitoring and management capabilities.
Companies are also expanding their geographical presence and seeking reimbursement coverage to increase market penetration. The competitive landscape is further shaped by the race to develop non-invasive monitoring solutions and integrate CGM systems with automated insulin delivery devices.
Future Success Hinges on Technology and Access
For incumbents to increase market share and contenders to gain ground, key strategies include investing in technological advancements, particularly in non-invasive monitoring and AI-driven analytics. Expanding reimbursement coverage and ensuring that continuous glucose monitoring cost remain under control will be crucial for market growth.
Companies must also focus on improving device accuracy, reducing calibration issues, and enhancing user experience to drive adoption. The regulatory landscape will play a significant role, with potential impacts on market entry and product approval processes. Addressing the needs of the growing diabetes population while navigating healthcare expenditure constraints will be critical for long-term success in the CGM market.
Continuous Glucose Monitoring (CGM) Market Leaders
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Medtronic Plc
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Dexcom, Inc.
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Abbott Laboratories
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Senseonics Holdings, Inc.
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Roche
*Disclaimer: Major Players sorted in no particular order
Continuous Glucose Monitoring (CGM) Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Diabetes Fostering Research and Treatment
4.2.2 Government Support initiatives to Construct the Spread of Diabetes
4.3 Market Restraints
4.3.1 High Expenditure on Devices and Supplies
4.3.2 Persistent Calibration Issues
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Component
5.1.1 Sensors
5.1.2 Durables(Receivers and Transmitters)
5.2 By End User
5.2.1 Hospital/Clinics
5.2.2 Home/Personal
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 France
5.3.2.2 Germany
5.3.2.3 Italy
5.3.2.4 Spain
5.3.2.5 United Kingdom
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Latin America
5.3.3.1 Mexico
5.3.3.2 Brazil
5.3.3.3 Rest of Latin America
5.3.4 Asia-Pacific
5.3.4.1 Japan
5.3.4.2 South Korea
5.3.4.3 China
5.3.4.4 India
5.3.4.5 Australia
5.3.4.6 Vietnam
5.3.4.7 Malaysia
5.3.4.8 Indonesia
5.3.4.9 Philippines
5.3.4.10 Thailand
5.3.4.11 Rest of Asia-Pacific
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 Iran
5.3.5.3 Egypt
5.3.5.4 Oman
5.3.5.5 South Africa
5.3.5.6 Rest of Middle East and Africa
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott
7.1.2 Dexcom Inc.
7.1.3 A. Menarini Diagnostics S.r.l
7.1.4 Ypsomed AG
7.1.5 F. Hoffmann-La Roche Ltd
7.1.6 Medtronic
7.1.7 Senseonics Holdings Inc.
7.1.8 Medtrum Technologies
7.1.9 Nemaura Medical Inc.
7.1.10 i-Sens Inc.
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Continuous Glucose Monitoring (CGM) Industry Segmentation
As per the scope of the report, patients can manage type 1 or type 2 diabetes with the use of continuous glucose monitoring (CGM) devices by performing fewer fingerstick tests. Blood sugar levels are continuously monitored by a sensor located just under the skin. Results are sent via a transmitter to a cell phone or wearable technology. The continuous glucose monitoring market is segmented by component, end user, and geography. By component, the market is segmented into sensors and durables. The end user segment is further divided into hospitals/clinics and home/personal. The report also covers the market sizes and forecasts for major countries across different regions. The market size is provided for each segment in terms of value (USD).
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Continuous Glucose Monitoring (CGM) Market Research FAQs
How big is the Continuous Glucose Monitoring Market?
The Continuous Glucose Monitoring Market size is expected to reach USD 11.63 billion in 2024 and grow at a CAGR of 12.89% to reach USD 21.32 billion by 2029.
What is the current Continuous Glucose Monitoring Market size?
In 2024, the Continuous Glucose Monitoring Market size is expected to reach USD 11.63 billion.
Who are the key players in Continuous Glucose Monitoring Market?
Medtronic Plc, Dexcom, Inc., Abbott Laboratories, Senseonics Holdings, Inc. and Roche are the major companies operating in the Continuous Glucose Monitoring Market.
Which is the fastest growing region in Continuous Glucose Monitoring Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Continuous Glucose Monitoring Market?
In 2024, the North America accounts for the largest market share in Continuous Glucose Monitoring Market.
What years does this Continuous Glucose Monitoring Market cover, and what was the market size in 2023?
In 2023, the Continuous Glucose Monitoring Market size was estimated at USD 10.13 billion. The report covers the Continuous Glucose Monitoring Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Continuous Glucose Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key considerations for developing new CGM technologies?
The key considerations for developing new CGM technologies are a) Accuracy b) Affordability c) User comfort
What are the key considerations for developing new CGM technologies?
The key considerations for developing new CGM technologies are a) Accuracy b) Affordability c) User comfort
Continuous Glucose Monitoring Market Research
The Continuous Glucose Monitoring (CGM) market report provides a comprehensive analysis of the evolving diabetes management landscape, with an emphasis on market growth, emerging technologies, and geographic trends. As the diabetes prevalence continues to rise globally, the demand for continuous glucose monitoring system has surged, driven by their effectiveness in real-time glucose monitoring. The report highlights key players in the market, such as Abbott, Dexcom, and Medtronic, showcasing their roles in developing innovative CGM technologies. From sensors to durable components, the CGM market is segmented to provide detailed insights into various product categories, facilitating a clear understanding of market trends and dynamics.
This report offers a valuable resource for stakeholders seeking in-depth knowledge of the CGM market, including insights into CGM costs, technology integration, and market expansion opportunities across regions like North America, Asia-Pacific, and Europe.
The report also delves into technological advancements within continuous glucose monitoring devices, such as artificial intelligence and non-invasive monitoring, which are set to redefine diabetes management. Additionally, the report addresses the impact of regulatory approvals and reimbursement policies on the market. Key insights cover competitive analysis, with an emphasis on strategies employed by leading glucose monitoring companies to maintain a strong market presence, as well as the entry of startups focusing on non-invasive and wearable continuous glucose monitoring devices.
The report pdf download format allows stakeholders, including healthcare providers, policymakers, and glucose monitoring companies, to gain actionable insights on cgm device cost, device differentiation, and market forecasts, enabling them to make informed decisions for strategic planning and investment in the continuous glucose monitoring system.
