CGM Market Poised for Rapid Growth

The worldwide continuous glucose monitors (CGM) market is looking pretty sweet these days.

The sector is poised for rapid growth, fueled by the increasing prevalence of diabetes and advancements in medical technology. The International Diabetes Federation (IDF) predicts the global diabetes population will reach 643 million by 2030, with North America experiencing significant spikes. This increase in diabetes rates, coupled with rising obesity levels, is expected to drive the overall diabetes device sector’s growth, and the leading market is anticipated to be the United States, according to GlobalData.
 
GlobalData’s latest market models forecast a 3.6% annual growth rate for the global CGM market through 2033. The expansion is likely to be fueled by innovations such as over-the-counter (OTC) CGMs, which are making these critical tools more accessible to a broader population. 
 
“CGMs, which provide real-time monitoring of blood glucose levels, are expected to see substantial growth in the next decade,” GlobalData Medical Analyst Thomas Fleming said. “OTC CGMs are transformative not only for individuals with diabetes but also for those seeking to monitor their glucose levels for overall health and wellness.” 
 
This past March, the U.S. Food and Drug Administration (FDA) approved the first OTC CGM from Dexcom. Designed for people aged 18 and older who do not use insulin, the Dexcom Stelo Glucose Biosensor System provides continuous glucose measurements through a wearable sensor and a smartphone application. This system, which offers blood glucose readings and trends every several minutes, can be worn for up to 15 days before needing replacement. It is particularly beneficial for people with type 2 diabetes or prediabetes who are managing their condition with lifestyle changes or oral medications.
 
Abbott Laboratories received FDA clearance for its Lingo and Libre Rio OTC CGM systems in June. These approvals are expected to significantly enhance market penetration and accessibility, especially for those without health insurance that covers prescription CGMs.
 
“By providing an accessible and user-friendly solution, CGM devices empower more people to manage their health proactively. As the market for CGMs continues to expand, particularly in the U.S., it is expected to lead to improved health outcomes and a reduction in diabetes-related complications on a global scale,” Fleming concluded.