Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) -- The "North America Continuous Glucose Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The North America Continuous Glucose Monitoring Market size is estimated at USD 6.20 billion in 2023, and is expected to reach USD 14.80 billion by 2028, growing at a CAGR of 19.01% during the forecast period (2023-2028).
The market is estimated to reach a value of USD 5.8 billion by 2027.
The COVID-19 pandemic positively impacted the Continuous glucose monitoring system market growth in the North American region. Patients with diabetes infected with SARS-CoV-2 experience additional stress and increased secretion of hyperglycemic hormones, which results in elevated blood glucose, abnormal glucose variability, and diabetic complications. To avoid aggravation, a patient's blood glucose monitoring should be considered during the COVID-19 patient's hospitalization which has underlined the importance of continuous glucose monitoring devices.
In North America, till April 2022, the United States is having the highest COVID cases with 82 million, the country also registered the highest death rate. According to the Diabetes Voice article published in May 2020, close to 40,000 deaths of people who are having diabetes. The US Food and Drug Administration has also allowed the use of personal blood glucose meters and continuous glucose monitoring devices in hospitals for the duration of the pandemic. Pandemic emergency has created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers. Thus, the COVID-19 outbreak increased the continuous glucose monitoring device market's growth.
The North American region had witnessed an alarming increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates by monitoring their blood glucose levels. Therefore, due to an increase in the usage of continuous monitoring devices among the diabetes population the market is expected to grow.
Owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
North America Continuous Glucose Monitoring Market Trends
The sensors segment held the highest market share of about 69.1% in the current year.
A selection of companies mentioned in this report includes
- Abbott
- Dexcom
- Medtronic
- Senseonics
- Ascensia
For more information about this report visit https://www.researchandmarkets.com/r/60wfa9
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