United States Continuous Glucose Monitoring Market Is Anticipated To Witness High Growth Owing To Rising Prevalence Of Diabetes

 






The United States continuous glucose monitoring market offers real-time glucose monitoring systems and sensors for diabetic patients. Continuous glucose monitoring systems help track glucose levels in interstitial fluid and display the readings on a receiver or compatible device. Such advanced monitoring systems offer several advantages over fingerstick methods as they eliminate the need for routine finger pricks, help reduce hypoglycemia risks, and provide timely glucose level alerts. The growing diabetic population in the US, coupled with the ability of continuous glucose monitoring to efficiently manage blood sugar levels, is expected to drive the demand for these solutions.

The Global United States of America Continuous Glucose Monitoring Market is estimated to be valued at US$ 599.47 Mn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the United States continuous glucose monitoring are Abbott, Dexcom, Inc., Medtronic, Senseonics, Inc., F. Hoffmann-La Roche Ltd., GLUCOVATION, INC., Nemaura Medical Inc., GlySens, GlucoModicum, and Signos, Inc. These companies offer a range of minimally invasive and needle-based CGM systems.

The key opportunities in the United States continuous glucose monitoring market include technological advancements towards non-invasive monitoring systems and integration with insulin pumps. Emerging opportunities also lie in leveraging artificial intelligence capabilities for improved data analysis and predictive alerts.

The US CGM market players are eyeing international expansion opportunities through strategic partnerships and acquisitions. Companies are focusing on markets in Europe, Asia Pacific, and Middle East & Africa regions to further expand their presence and tap into high growth opportunities in emerging nations.

Market Drivers

The rising prevalence of diabetes in the US population is a major market driver. As per CDC reports, over 37 million Americans have diabetes as of 2022 with the numbers projected to rise further. Continuous glucose monitoring enables tighter control and management of blood glucose levels in such patients.

Market Restraints

High costs of continuous glucose monitoring systems can restrain market growth. While newer integrated systems are more affordable, the initial device and sensor costs are still prohibitive for many patients. Reimbursement challenges across private and public payers also create adoption barriers. Stringent regulatory approvals for new product launches further prolong market entry.

Segment Analysis

There are two major sub-segments in the United States of America Continuous Glucose Monitoring market - Transmitters & sensors and Receivers & displays. The transmitters & sensors sub-segment currently dominates the market. Transmitters & sensors are an integral component of all CGM systems as they help in capturing real-time glucose readings continuously. A CGM system relies on the transmitter to transmit glucose readings wirelessly from the sensor inserted under patient's skin to a receiver or smartphone. Therefore, the demand for transmitters & sensors is directly associated with the adoption of CGM systems.

Global Analysis

North America region currently dominates the United States of America Continuous Glucose Monitoring market due to the higher adoption and reimbursement of CGM devices in the region. The presence of major players along with growing patient awareness regarding diabetes management have boosted the regional market growth over the years. However, the Asia Pacific region is anticipated to witness the highest CAGR over the forecast period. This is majorly ascribed to the rising geriatric population, increasing burden of diabetes, growing healthcare expenditure, and the presence of emerging economies such as China and India.

Regional analysis related content (Write regional analysis in 200 words explanation fastest growing and dominating region.): North America region currently dominates the United States of America Continuous Glucose Monitoring market due to the higher adoption and reimbursement of CGM devices in the region. The presence of major players along with growing patient awareness regarding diabetes management have boosted the regional market growth over the years. However, the Asia Pacific region is anticipated to witness the highest CAGR over the forecast period. This is majorly ascribed to the rising geriatric population, increasing burden of diabetes, growing healthcare expenditure, and the presence of emerging economies such as China and India. These emerging countries present lucrative opportunities for key players to expand their customer base.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Get more insights on this topic: https://www.marketwebjournal.com/united-states-of-america-continuous-glucose-monitoring-market-trends-towards-personalisation/

 

About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)

 

What Are The Key Data Covered In This United States of America Continuous Glucose Monitoring Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the United States of America Continuous Glucose Monitoring's growth between 2024 and 2031.

:- Accurate calculation of the size of the United States of America Continuous Glucose Monitoring and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- United States of America Continuous Glucose Monitoring Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of United States of America Continuous Glucose Monitoring vendors

FAQ’s

Q.1 What are the main factors influencing the United States of America Continuous Glucose Monitoring?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top United States of America Continuous Glucose Monitoring companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the United States of America Continuous Glucose Monitoring’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?




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