U.S. Continuous Glucose Monitoring Devices Market Will Grow Rapidly In Coming Years

U.S. Continuous Glucose Monitoring Devices Market Summary

The U.S. continuous glucose monitoring (CGM) devices market size was valued at USD 1.51 billion in 2023 and is expected to register a compound annual growth rate (CAGR) of 6.68% from 2024 to 2030. The primary drivers fueling this market's growth include the increasing prevalence of diabetes, advancements in CGM technology, and the expanding geriatric population who are more prone to developing diabetes. Additionally, the high incidence of obesity among individuals further supports the anticipated market expansion over the forecast period, as obesity is a major contributing factor to the onset of diabetes in the U.S. population.

In 2023, the U.S. continuous glucose monitoring devices market captured a 33% revenue share of the global market. Factors such as sedentary lifestyles, poor dietary habits, and aging are significantly contributing to the increased rate of diabetes across the country. According to the Centers for Disease Control and Prevention (CDC), approximately 34.2 million people, or 10.5% of the U.S. population, have diabetes, comprising both diagnosed and undiagnosed cases. Additionally, the CDC noted that around 37.3 million individuals have diabetes, of which 28.7 million are diagnosed while approximately 8.5 million cases remain undiagnosed.

Key Market Trends & Insights

• Among the key components of CGM devices, sensors dominated the market with a revenue share of 41.04% in 2023. These sensors are critical as they detect glucose concentrations and convert the data into electrical signals using enzymatic reactions like glucose oxidase. The continuous monitoring function of these sensors provides users with a real-time assessment of their glucose levels, aiding in better disease management and timely interventions.
• Bluetooth connectivity emerged as the leading technology segment in 2023. The rise in demand is attributed to its seamless data transmission capabilities, allowing CGM devices to deliver real-time glucose readings directly to smartphones or other Bluetooth-enabled devices. These features are particularly useful for diabetic patients, as they can receive alerts and updates without the need for invasive or repeated testing, which improves compliance and health outcomes.
• The homecare end-use segment accounted for the largest market share of over 45% in 2023 and is forecasted to grow at the highest CAGR during the study period. This is due to the increasing accessibility and convenience offered by advanced CGM devices for home use. These devices are simple enough for both adult and pediatric patients, promoting early detection and monitoring without visiting clinical facilities, thereby reducing healthcare costs and enhancing user satisfaction.
• Hospitals are also expected to witness significant growth from 2024 to 2030, driven by the increasing reliance of healthcare professionals on CGM technologies for diabetes management. In clinical settings, CGM devices provide real-time monitoring and continuous glucose level tracking, enabling more accurate assessments and interventions. Their implementation in hospitals improves patient outcomes and reduces complications related to fluctuating glucose levels.

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Market Size & Forecast

• 2023 Market Size: USD 1.51 billion
• 2030 Projected Market Size: USD 2.39 billion
• CAGR (2024 - 2030): 6.68%

Key Companies & Market Share Insights

Prominent companies in the U.S. CGM device market include Abbott Laboratories, Dexcom, and Senseonics Holdings, among others.

The competition is high due to the presence of numerous key players who are constantly competing to expand their market share and improve their product offerings. Moreover, these key companies are focusing on strategic initiatives such as innovative product launches, Mergers and acquisition activities, and partnerships to expand their company portfolios.

Key Players

• Dexcom, Inc.
• Abbott
• Medtronic
• Ypsomed AG
• Senseonics Holdings, Inc.
• A. Menarini Diagnostics S.r.l.
• Signos, Inc.
• Phillips-Medisize

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Conclusion

The U.S. continuous glucose monitoring devices market is projected to grow steadily, driven by a surge in diabetes prevalence, increased obesity rates, and a rising elderly population. Technological advancements in sensors and Bluetooth connectivity continue to revolutionize how patients monitor and manage glucose levels, especially from home settings. The convenience of real-time data and remote monitoring has made CGM devices essential in both personal and clinical environments. As awareness and adoption continue to rise, coupled with supportive healthcare initiatives, the market is well-positioned for sustained growth, offering significant benefits in the management and prevention of diabetes-related health complications.