India's Continuous Glucose Monitoring (CGM) Market Set for Rapid Growth, Driven by Rising Diabetes Prevalence and Technological Advancements


Posted December 5, 2024 by ismail

[Hyderabad, Decembero5, 2024] – The India Continuous Glucose Monitoring (CGM) market is poised for significant growth in the coming years, driven by the escalating prevalence of diabetes, rising healthcare awareness.

 
According to leading market research, The India Continuous Glucose Monitoring Market is projected to reach USD 185.40 million in 2024 and is expected to grow to USD 325.72 million by 2029, at a compound annual growth rate (CAGR) of 11.93% during the forecast period (2024-2029).

India, which is home to one of the world’s largest diabetic populations, is witnessing a sharp rise in demand for advanced monitoring technologies. CGMs, which offer real-time tracking of glucose levels and provide continuous data, are gaining popularity due to their ability to help manage diabetes more effectively. These devices are particularly beneficial for individuals with Type 1 and Type 2 diabetes, offering improved accuracy and convenience compared to traditional finger-stick methods.

Key Drivers of Market Growth:

Increasing Diabetes Cases: The number of diabetic patients in India continues to rise due to changing lifestyles, poor dietary habits, and lack of physical activity, creating a higher demand for effective glucose management tools.

Technological Advancements: The introduction of user-friendly, less intrusive, and more affordable CGM devices is helping to expand the market. Newer CGMs offer features such as smartphone integration, cloud data storage, and alarms for hypo/hyperglycemic events.

Government Initiatives and Awareness Programs: Government initiatives aimed at improving healthcare infrastructure, coupled with increasing awareness regarding the importance of diabetes management, are expected to drive market penetration.

Market Segmentation: The India CGM market is segmented based on technology, end-user, and distribution channel. Technologically, the market is categorized into sensor-based, insulin pump-based, and integrated CGMs. In terms of end-users, the market serves both individual consumers and healthcare providers in hospitals and clinics. The increasing adoption of CGM devices in home healthcare settings is a notable trend, driven by patient convenience and cost-effectiveness.

Competitive Landscape: The market is highly competitive, with prominent players including Abbott Laboratories, Dexcom, Medtronic, and Roche Diagnostics. These companies are investing in research and development to innovate new products, expand their market presence, and cater to the evolving needs of diabetic patients in India.

In addition to trend analysis, Mordor Intelligence offers a comprehensive competitive landscape featuring profiles of major market players, detailing their product offerings, market strategies, and recent developments.

Conclusion: With an increasing number of diabetic patients and growing awareness about the benefits of continuous glucose monitoring, India’s CGM market is expected to thrive in the coming years. As the healthcare ecosystem adapts to the needs of this rapidly expanding patient base, CGM technologies are set to revolutionize diabetes management in India, improving quality of life for millions of individuals.

For a comprehensive understanding of the trends shaping the future of the India CGM Industry, access the full report on the India CGM Market (https://www.mordorintelligence.com/industry-reports/india-continuous-glucose-monitoring-market) here. Stay ahead of the curve by leveraging our insights to drive your strategic decisions.

About Mordor Intelligence:

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Last Updated December 5, 2024