Flash Glucose Monitoring Market size is poised to cross USD 26 Million by the end of 2033, growing at a CAGR of 9% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of flash glucose monitoring was over USD 13 Million. The growth of the market is primarily attributed to the rising adoption of wearable healthcare devices across the globe. For instance, in 2022, approximately 335 million consumer wearable health and wellness devices are expected to ship globally; by 2024, that number is expected to rise to almost 450 million units.
Flash glucose monitoring system consists of two major components; a sensor which is wore just underneath the skin and a reader which is when waved over the sensor, it displays glucose level of the body. This continuous glucose monitoring (CGM) system is able to store data of individual’s blood sugar or blood glucose level and individuals are able to see and check any time just by scanning the scanner with reader device. Further, this flash glucose monitoring is a very efficient tool to maintain proper blood sugar level on a daily basis. Furthermore, flash glucose monitoring is very helpful to maintain glucose level of the body of those individuals who are suffering from diabetic disease. Therefore, the significantly growing prevalence of diabetes is fueling up the growth of the flash glucose monitoring market. As per the data provided by the World Health Organization (WHO), presently, there are approximately 422 million diabetics worldwide, and diabetes is one of the leading cause of 1.5 million yearly fatalities.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
9% |
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Base Year Market Size (2022) |
USD 13 Million |
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Forecast Year Market Size (2033) |
USD 26 Million |
End-user (Hospitals, Clinics, Academic & Research Institutes)
The global flash glucose monitoring market is segmented and analyzed for demand and supply by end-user into hospitals, clinics, academic & research institutes, and others. Amongst these, the hospitals segment is anticipated to capture the largest market size over the forecast period owing to the growing healthcare infrastructure, rising number of diabetic patient’s visits to hospitals, and escalating healthcare expenditure. According to data from the World Bank, worldwide healthcare spending increased by 9.83% in 2019.
Our in-depth analysis of the global flash glucose monitoring market includes the following segments:
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By Modality |
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By Application |
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By Technology |
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By End-User |
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Regionally, the global flash glucose monitoring market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033 backed by the changing lifestyle, rising prevalence of obesity, rising healthcare expenditure, and increasing cases of diabetes in the region. As per the Centers for Disease Control and Prevention (CDC), the total number of people in United States who have been suffering from diabetes has reached 37.3 million by the January 2022.
Author Credits: Radhika Gupta, Shivam Bhutani
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