BGM and CGM Market size was valued at USD 12.5 Billion in 2022 and is projected to reach USD 25 Billion by 2030, growing at a CAGR of 9.4% from 2024 to 2030.
The Blood Glucose Monitoring (BGM) and Continuous Glucose Monitoring (CGM) market is valued at approximately USD 15.34 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 8.6%, reaching USD 24.1 billion by 2030. The increasing prevalence of diabetes, advancements in technology, and rising health awareness are driving the market growth. Additionally, the increasing demand for home healthcare solutions and the shift toward personalized treatment plans are contributing to the rapid expansion of the BGM and CGM market. Governments and health organizations are also supporting initiatives for early detection and continuous monitoring of blood glucose levels.
Download Full PDF Sample Copy of BGM and CGM Market Report @ https://www.verifiedmarketreports.com/download-sample/?rid=781510&utm_source=GSF-Feb&utm_medium=204
Technological Advancements
The market is witnessing significant technological advancements, including the development of non-invasive glucose monitoring devices and the integration of AI and machine learning for better monitoring accuracy. These innovations improve patient compliance and expand the market's potential.
Growth in Diabetes Prevalence
As the global prevalence of diabetes continues to rise, there is an increasing need for reliable glucose monitoring solutions, particularly in emerging economies. This growing demand fuels the BGM and CGM market growth.
Increasing Healthcare Awareness
Rising awareness about the importance of managing blood glucose levels, coupled with access to healthcare technologies, is driving market growth. Consumers are more inclined to use home-based BGM and CGM solutions for daily management.
Key Drivers
Increase in diabetic population worldwide creates a larger consumer base.
Technological innovations such as wearable CGM devices offer continuous glucose data, improving management.
Rising healthcare expenditure globally is increasing access to advanced monitoring solutions.
Government initiatives and healthcare reforms promote the adoption of glucose monitoring devices.
Challenges
High initial cost of CGM systems may limit adoption, especially in developing regions.
Data privacy and security concerns related to the continuous collection of personal health data.
Lack of awareness and training for patients and healthcare professionals regarding advanced monitoring solutions.
North America
North America holds the largest share of the BGM and CGM market due to the high prevalence of diabetes, advanced healthcare infrastructure, and high adoption rates of continuous glucose monitoring systems, particularly in the U.S. and Canada.
Europe
Europe is witnessing steady growth in the BGM and CGM market, driven by increased awareness and supportive government policies. Countries like Germany and the UK are leading the region's adoption of advanced glucose monitoring technologies.
Asia-Pacific
The Asia-Pacific region is expected to see the highest growth due to the increasing diabetic population in countries like India and China, coupled with improvements in healthcare infrastructure and rising disposable incomes.
Rest of the World
The market in Latin America, the Middle East, and Africa is growing at a moderate pace, with governments and healthcare providers working toward improving access to diabetes management solutions, especially in underserved regions.
What is the difference between BGM and CGM?
BGM provides intermittent blood glucose measurements, while CGM offers continuous, real-time glucose monitoring, allowing for better management of diabetes.
Why is CGM becoming more popular than BGM?
CGM provides continuous glucose readings and alerts, offering better control and reducing the risk of glucose fluctuations compared to BGM.
What is the expected growth rate of the BGM and CGM market?
The BGM and CGM market is expected to grow at a CAGR of 8.6%, reaching USD 24.1 billion by 2030.
Are CGM devices covered by insurance?
In many regions, CGM devices are covered by insurance, especially for patients with Type 1 diabetes or those requiring frequent glucose monitoring.
What factors are driving the growth of the BGM and CGM market?
Rising diabetes prevalence, technological advancements, and increased healthcare awareness are major drivers of the market's growth.
How accurate are CGM devices?
CGM devices are highly accurate, with some models providing readings within a few percentage points of laboratory glucose tests.
What are the challenges facing the BGM and CGM market?
High initial costs, privacy concerns regarding data collection, and limited awareness in some regions pose challenges to market growth.
How do CGM systems work?
CGM systems use sensors placed under the skin to continuously measure glucose levels in interstitial fluid and transmit data to a receiver or smartphone.
What is the market size of the BGM and CGM industry?
The market size was valued at USD 15.34 billion in 2024 and is expected to reach USD 24.1 billion by 2030, growing at a CAGR of 8.6%.
Which region dominates the BGM and CGM market?
North America dominates the market due to high diabetes prevalence, advanced healthcare systems, and wide adoption of CGM technologies.
Top Global BGM and CGM Market Companies
Roche
Lifescan
Abbott
Ascensia
ARKRAY
I-SENS
Omron
B. Braun
77 Elektronika
AgaMatrix
Terumo
Sinocare
Yicheng
Yuwell
Acon
Dexcom
Medtronic
Senseonics Holdings
Regional Analysis of Global BGM and CGM Market
North America (Global, Canada, and Mexico, etc.)
Europe (Global, Germany, and France, etc.)
Asia Pacific (Global, China, and Japan, etc.)
Latin America (Global, Brazil, and Argentina, etc.)
Middle East and Africa (Global, Saudi Arabia, and South Africa, etc.)
For More Information or Query, Visit @ Global BGM and CGM Market Insights Size And Forecast