What is Global BGM and CGM Market?
The Global Blood Glucose Monitoring (BGM) and Continuous Glucose Monitoring (CGM) Market is a vast and complex field that encompasses a wide range of products and services. BGM and CGM are medical devices used to monitor and manage blood glucose levels in individuals with diabetes. BGM provides a glucose value for a specific point in time when a blood drop is read, while CGM gives a more comprehensive picture of glucose trends, showing where glucose levels are heading and where they have been. The global BGM and CGM market was valued at US$ 14120 million in 2023 and is projected to reach US$ 27310 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 10.2% during the forecast period from 2024 to 2030. The market is dominated by two major players who hold over 50% of the market share. The Americas region is the largest market, accounting for about 45% of the total market share. In terms of product type, CGM is the largest segment, accounting for about 55% of the market, and in terms of application, the household segment holds about 80% of the market share.
BGM, CGM in the Global BGM and CGM Market:
The BGM and CGM devices are primarily used in three areas: households, hospitals, and others. In households, these devices are used by individuals to monitor their blood glucose levels regularly. This helps in managing diabetes effectively and preventing any potential health complications. In hospitals, these devices are used to monitor the blood glucose levels of patients who are critically ill or undergoing surgery. This helps in providing appropriate treatment and managing the patient's condition effectively. In other areas, these devices are used in clinics, nursing homes, and other healthcare facilities for monitoring and managing the blood glucose levels of patients. The use of these devices in these areas is expected to increase in the future due to the rising prevalence of diabetes and the increasing need for effective diabetes management.
Household, Hospital, Other in the Global BGM and CGM Market:
The market outlook for the global BGM and CGM market is positive. The market was valued at US$ 14120 million in 2023 and is expected to reach US$ 27310 million by 2030, growing at a CAGR of 10.2% during the forecast period from 2024 to 2030. The market is dominated by two major players who hold over 50% of the market share. The Americas region is the largest market, accounting for about 45% of the total market share. In terms of product type, CGM is the largest segment, accounting for about 55% of the market, and in terms of application, the household segment holds about 80% of the market share. The growth of the market is driven by the increasing prevalence of diabetes, the rising need for effective diabetes management, and the advancements in technology.
Global BGM and CGM Market Outlook:
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| Report Metric | Details |
| Report Name | BGM and CGM Market |
| Accounted market size in 2023 | US$ 14120 million |
| Forecasted market size in 2030 | US$ 27310 million |
| CAGR | 10.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Abbott, Dexcom, Roche, Lifescan, Ascensia, Medtronic, ARKRAY, Sinocare, I-SENS, Terumo, B. Braun, Acon, Yicheng, Omron, SD Biosensor, 77 Elektronika, Yuwell, Osang Healthcare, AgaMatrix, Senseonics Holdings |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
