Continuous Glucose Monitoring Device Market is expected to See Incredible Growth by 2033

According to the newly released Continuous Glucose Monitoring Device Market industry analysis report by Future Market Insights, global sales of Continuous Glucose Monitoring Device Market in 2022 will be US$ 4.9 Billion. The market is estimated to be worth US$ 16.8 billion by 2033, growing at an 11.9% CAGR from 2023 to 2033.

A rise in the elderly population, as well as a high prevalence of diabetes, are expected to drive market growth. According to the International Diabetes Federation, the global diabetic population is expected to reach 642 million by 2040. As a result, one out of every ten people is expected to have diabetes by 2040, illustrating the severity of the epidemic. Diabetes treatment and management are thus expected to be a high concern for healthcare administrations and stakeholders worldwide.

Increased diabetes cases are expected to boost market growth and potential for continuous glucose monitoring systems, attracting and compelling various industry participants to develop novel products or product line extensions.

Asia Pacific is predicted to be the most profitable market during the forecast period. The Asia Pacific region has a big population, which is characterised by growing diabetic awareness, greater awareness of the availability of continuous glucose monitoring devices, and rising consumer healthcare spending. Furthermore, higher diagnostic lab penetration in the region is expected to drive demand for continuous glucose monitoring devices throughout the forecast period.

Countries such as China, India, South Korea, and Indonesia are attracting FDIs in the healthcare sector as a result of favourable government policies, which is expected to boost the expansion of the region's continuous glucose monitoring device market.

Competitive Landscape

The Continuous Glucose Monitoring Device Market is highly competitive, with a handful of companies holding a significant share. The key players in the market include A. Menarini Diagnostics, Echo Therapeutics, Inc., Abbott Laboratories, Bayer AG, Dexcom, Inc., F. Hoffmann-La Roche Ltd., GE Healthcare, GlySens Incorporated, Insulet Corporation, Johnson & Johnson, LifeScan, Medtronic plc, Medtrum Technologies, Inc., Microchip Technology Inc., Micron Technology Inc., Nemaura Medical, Inc., Novo Nordisk, NXP Semiconductors, Qualcomm, Roche Diagnostics, Senseonics Holdings, Inc., STMicroelectronics, and Tandem Diabetes Care.

Browse More@ https://www.futuremarketinsights.com/reports/continuous-glucose-monitoring-device-market

Market Segments Covered in Continuous Glucose Monitoring Device Industry Analysis
By Component:

  • Transmitters
  • Sensors
  • Receivers

By End-Use:

  • Hospitals
  • Home Care
  • Other End-uses

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