The global continuous glucose monitoring (CGM) devices market size is expected to reach USD 1.01 billion by 2024, according to a new report by Grand View Research, Inc. The market is estimated to register a CAGR of 13.7% over the forecast period. Growing cases of diabetes and introduction of novel and advanced diabetes care devices are the major factors driving the market growth. Continuous glucose monitoring devices provide an efficient method to measure body glucose levels in real time. Data recorded by these devices is transmitted through a wireless network to receivers; this helps keep a track of glucose levels over a designated period.
These devices also help manage diabetes while reducing individual insulin dosages. Integrated software within these devices provides users with insights about food consumption, medication, physical activity, and illnesses. Thus, an increasing number of diabetic patients are using these devices to manage and treat diabetes, which, in turn, is accelerating market growth. With the advent of digital therapeutics, a rising number of CGM devices are being incorporated with apps and software to help patients with diabetes mellitus. Rise in the number of diabetes mellitus has been contributing toward market growth.
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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