Continuous Glucose Monitoring (CGM) Devices Market Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

 

Continuous Glucose Monitoring (CGM) Devices Market
Continuous Glucose Monitoring (CGM) Devices Market 

Diabetes is a chronic condition brought on by either insufficient insulin production by the pancreas or inefficient insulin utilisation by the body. For instance, the World Health Organization reports that diabetes was the tenth largest cause of mortality globally in 2019 and is directly responsible for an estimated 1.5 million deaths. 9 million persons worldwide have type 1 diabetes in 2017. The bulk of the approximately 422 million individuals with diabetes globally reside in low- and middle-income nations, and diabetes is directly responsible for 1.5 million fatalities annually.

Numerous factors, including rapid urbanisation and a rising trend toward sedentary lifestyles in both developing and industrialised nations, are contributing to an increase in the prevalence of diabetes. By 2021, there will be 537 million adults with diabetes globally, with Brazil, China, the United States, India, and Mexico accounting for an estimated 51.6% of those individuals, according to the International Diabetes Federation. The increase in type-1 or insulin-dependent Type-2 diabetic patients has been a significant contributor to the rapid global Continuous Glucose Monitoring (CGM) Devices Market adoption of these monitoring systems. Furthermore, due to favourable reimbursement rules, a sizable patient population with insulin-dependent diabetes, and the launch of new technologies by industry participants, there is an increasing need for diabetes monitoring devices like CGMs.

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