United States of America Continuous Glucose Monitoring Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (undefined)

United States of America Continuous Glucose Monitoring Market is Segmented By Components (Sensors, Transmitters & Receivers, Integrated System, Others), By Demographic (Adults (18-65), Geriatrics (65+), Pediatrics/ Teenagers), By Indication (Type 1 Diabetes, Gestational Diabetes, Type 2 Diabetes, Others), By End-User (Hospitals, Home Care, Clinics, Nursing Homes, Others). The report offers the value (in USD billion) for the above-mentioned segments.

United States of America Continuous Glucose Monitoring Market Trends

Market Driver – Rising Prevalence of Diabetes

The rising prevalence of diabetes has become a major public health challenge in the United States and is one of the key factors contributing to the growth of the Continuous Glucose Monitoring (CGM) market. As per the latest data from Centers for Disease Control and Prevention (CDC), around 37.3 million Americans suffer from diabetes, which is approximately 11.3% of the total US population. Alarmingly, diabetes also remains underdiagnosed, with almost one in four cases going undetected. This growing burden of diabetes indicates a dire need for advanced glucose monitoring solutions to help manage the condition in a better way.

Continuous glucose monitoring aids in maintaining near-normal blood glucose levels among people with diabetes. Unlike fingerstick tests which only provide snapshots at single points in time, CGM systems monitor glucose readings in real-time and display trends to help patients make better treatment decisions. This empowers individuals to preemptively adjust insulin doses or carbohydrate intake based on predicted highs and lows. CGM has been proven to lower A1c levels and lower the risk of hypoglycemia, leading to improved clinical outcomes over time. Awareness regarding such benefits of CGM is increasing among patients as well as healthcare providers in the US.

Market Driver – Technological Advancements in CGM Devices

Technological advancements in continuous glucose monitoring (CGM) devices are significantly fueling the growth of the United States CGM market. The advanced CGM systems available nowadays provide ample benefits over traditional fingerstick monitoring to diabetes patients. The real-time glucose readings from these devices enable improved diabetes management and help patients better control their blood sugar levels.

Some of the latest CGM technologies integrate cutting-edge features like advanced alerts and alarms for hypo/hyperglycemic excursions. This facilitates timely intervention and reduces the risk of potentially life-threatening glucose fluctuations. The availability of smartphone-compatible CGM devices has further enhanced convenience. Patients can easily view glucose data and trends on their phones throughout the day. This type of user-friendly connectivity promotes increased device usage and adherence to therapy.

According to the Centers for Disease Control and Prevention (CDC), nearly 14% of the U.S. population has been diagnosed with diabetes as of 2018. The growing prevalence of this chronic condition combined with advances in CGM functionality and accessibility are fueling heightened demand. This rapid development and adoption of innovative CGM tools is projected to drive continued expansion of the U.S. market in the coming years.

United States of America Continuous Glucose Monitoring Market Key Factors

Market Challenge – High Device Costs

The high device costs have been a major restraining factor for the growth of continuous glucose monitoring market in United States. The continuous glucose monitoring (CGM) devices require regular calibration with finger-prick blood glucose readings and consumption of disposable sensors every 7-10 days. This makes CGM a recurring expense for diabetes patients. The average CGM device costs around $1500-$2000 upfront without including the additional costs of sensors and calibration supplies. Most healthcare insurance plans have poor coverage for CGM supplies and sensors which need to be replaced frequently.

Many diabetes patients refrain from adopting CGM due to the high recurring costs involved. The annual costs of CGM can range from as high as $3000 to $5000 for a patient depending on the device, number of sensors used and insurance coverage. As per a study published in CDC (Centers for Disease Control and Prevention) in 2022, over 37% of American diabetes patients who could benefit from CGM have reported cost as the main factor for not being able to access this advanced technology.

Market Opportunity – Adoption of CGM Among Type 2 Diabetes Patients

The adoption of continuous glucose monitoring (CGM) among type 2 diabetes patients in the USA presents a major growth opportunity. Type 2 diabetes accounts for 90-95% of all diagnosed adult cases of diabetes in the country. As per the Centers for Disease Control and Prevention (CDC), over 37 million Americans were estimated to have diabetes as of 2021, with the number expected to rise significantly in the coming years due to aging population and increasing prevalence of obesity and sedentary lifestyles. CGM provides real-time glucose readings throughout the day and night, allowing better management of blood sugar levels for patients.

Wider adoption of CGM among type 2 patients can help tackle the rising healthcare costs associated with diabetes management in the USA. Left uncontrolled, high blood sugar can cause severe health issues requiring extensive medical treatment. Data from the American Diabetes Association shows diabetes-related direct medical costs were estimated at $327 billion in 2017, with type 2 accounting for the majority. CGM assists patients and physicians in making timely therapy adjustments, preventing hyper/hypoglycemic events and associated physical/financial burden in the long run.