GlobalData, Health News, ET HealthWorld

New Delhi: Data analytics company GlobalData said the global continuous glucose monitor (CGM) market is poised for rapid growth, driven by rising diabetes incidence and advancements in medical technology.

The International Diabetes Federation (IDF) predicts that 643 million people will have diabetes by 2030. The data analysis organization said the rise in diabetes, coupled with rising obesity levels, will drive the growth of the diabetes device market, with the United States being the leading market for diabetes devices.

According to GlobalData’s latest market models, the global CGM market is expected to register a compound annual growth rate (CAGR) of 3.6 percent between 2023 and 2033, driven by innovations such as the introduction of over-the-counter (OTC) CGMs that are making these critical tools more accessible to a wider population.

Informing that CGMs, which provide real-time blood glucose monitoring, are likely to see significant growth in the next decade, Fleming, a GlobalData medical analyst, said, “CGMs, which provide real-time blood glucose monitoring, are expected to see significant growth in the next decade. OTC CGMs are transformative not only for people with diabetes but also for those who want to monitor their glucose levels for overall health and wellness.”