South Korea Continuous Glucose Monitoring Devices Market Insights Forecasts to 2033

• The South Korea Continuous Glucose Monitoring Devices Market Size was valued at USD 63.7 Million in 2023.
• The Market is growing at a CAGR of 9.49% from 2023 to 2033
• The South Korea Continuous Glucose Monitoring Devices Market Size is Expected to Reach USD 157.7 Million by 2033

The South Korea Continuous Glucose Monitoring Devices Market is Anticipated to Exceed USD 157.7 Million by 2033, growing at a CAGR of 9.49% from 2023 to 2033.

Market Overview

CGM devices provide a simple and efficient method for diabetes management with minimal intrusion. They are also able to identify significant fluctuations in blood sugar levels, helping to avoid low blood sugar conditions. The CGM devices assist in examining blood sugar levels at various time intervals using a sensor. Inputting individual readings into the diabetes management software via a wireless network helps patients gain a deeper understanding of the disease, ultimately improving their ability to manage it more efficiently. Common risk factors linked to diabetes complications include smoking, obesity, lack of physical activity, high blood pressure, and high cholesterol. The rising prevalence of prediabetes is also driving the growth of the market. Prediabetes is a state where blood sugar levels are elevated but not at a level that meets the criteria for a diagnosis of type 2 diabetes. It is a severe medical issue that can elevate the chances of getting type 2 diabetes, heart disease, and stroke.

Report Coverage

This research report categorizes the market for South Korea continuous glucose monitoring devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea continuous glucose monitoring devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea continuous glucose monitoring devices market.

Driving Factors

Developments and advancements in the medical device sector, specifically in the production of continuous glucose monitoring systems, present a chance for growth in the continuous glucose monitoring market. The growth of the continuous glucose monitoring systems market is fueled by the rise in the development of continuous glucose monitoring systems within the industry. Moreover, the continuous glucose monitoring systems market share is projected to grow due to a rise in the elderly population, higher prevalence of diabetes, increased demand for diagnosis, and unmet healthcare needs.

Restraining Factors

The glucose monitoring device is expensive and may cause discomfort. Frequently, diabetes care devices do not provide consistently accurate results. Additionally, a number of hospitals and healthcare facilities do not provide insurance coverage for diabetes.

Market Segment

The South Korea continuous glucose monitoring devices market share is classified into component and end-use.

• The sensors segment is expected to hold the largest market share through the forecast period.

The South Korea continuous glucose monitoring devices market is segmented by component into transmitters, sensors, and receivers. Among these, the sensors segment is expected to hold the largest market share through the forecast period. Enhancements in technology to enhance sensor precision are projected to drive growth in the segment in the forecast period. Sensors play a crucial role in continuous glucose monitoring (CGM) devices. CGM sensors are made up of a metal thread thinner than a needle, which is placed into the layer of fat right below the skin. The adhesive tape secures the sensor in place to track glucose levels in the area.

• The homecare segment is expected to hold the largest market share through the forecast period.

The South Korea continuous glucose monitoring devices market is segmented by end-use into hospitals and homecare. Among these, the homecare segment is expected to hold the largest market share through the forecast period. Patients can use these devices to take less insulin and monitor their blood glucose levels constantly. The demand for CGM devices is anticipated to increase in homecare settings due to their effective and convenient blood glucose monitoring capabilities.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea continuous glucose monitoring devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Dexcom
• Abbott
• Medtronic
• Everesense
• Ascenscia
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea continuous glucose monitoring devices market based on the below-mentioned segments

South Korea Continuous Glucose Monitoring Devices Market, By Component

• Transmitters
• Sensors
• Receivers

South Korea Continuous Glucose Monitoring Devices Market, By End-Use

• Hospitals
• Homecare