by The United States continuous glucose monitoring market involves devices that continually monitor glucose levels in interstitial fluid or blood. Continuous glucose monitors are helpful for patients with diabetes as they alert them to high or low blood sugar levels through a transmitter that sends data to a receiver or smartphone. The devices allow for easier management of diabetes through constant tracking of sugar levels without the need for frequent finger pricks. The Global United States 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. The constant technological advancements by these players and the development of novel CGM systems is a key opportunity in the market. There is also a scope for expansion through offering affordable products and making systems accessible to more users in rural areas. The rising prevalence of diabetes and growing awareness about diabetes management is driving the global adoption of CGMs.
Market Drivers
The rising diabetes patient pool is a major driver for the United States continuous glucose monitoring market. As per estimates, around 34.2 million Americans had diabetes in 2018 which is expected to rise further. Continuous glucose monitoring helps people with diabetes effectively manage their condition and prevent complications through constant tracking of glucose levels, especially among insulin users. This advantage, along with the ongoing technological advancements making CGMs compact and easy-to-use, is expected to support the high growth of the market over the forecast period.
PEST Analysis
Political: The FDA regulates continuous glucose monitoring systems as medical devices in the United States. Any changes in regulations by the FDA can impact the overall market.
Economic: Rising incidence of diabetes, growing healthcare expenditure, favorable reimbursement policies by insurance companies and rise in disposable incomes are positively impacting the market growth.
Social: Growing awareness about diabetes management and benefits of continuous glucose monitoring systems is encouraging more people to adopt these systems.
Technological: Advancements in sensor technologies, miniaturization of components and rise of smart/integrated systems are enhancing functionalities and usability of these systems. Integration of continuous glucose monitoring with insulin pumps is becoming a key trend.
In terms of value, the United States continuous glucose monitoring market is concentrated in the Western and Southern regions due to higher prevalence of diabetes and greater awareness levels in these regions. The states like California, Texas and Florida account for over 35% share due to large diabetic population base and higher healthcare spending.
Among regions, Midwestern United States is projected to witness fastest growth during the forecast period supported by growing adoption of advanced diabetes management solutions. States like Illinois, Indiana, Ohio and Michigan are likely to significantly drive the market in coming years led by increasing focus of leading players on business expansion opportunities in these states.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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
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About Author - Ravina Pandya
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. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
