Strategic Drivers and Barriers in Korea Continuous Glucose Monitoring Devices Market Market 2025-2033

Key Insights

The Korea Continuous Glucose Monitoring (CGM) Devices market is projected to reach \$84.24 million in 2025, exhibiting a robust Compound Annual Growth Rate (CAGR) of 9.40% from 2025 to 2033. This growth is fueled by several key factors. Rising prevalence of diabetes, particularly in urban centers like Seoul, Busan, and Incheon, is a primary driver. Increased awareness of the benefits of CGM, such as improved glycemic control and reduced hypoglycemic events, is leading to greater adoption among patients and physicians. Furthermore, technological advancements resulting in smaller, more user-friendly devices with improved accuracy are boosting market expansion. The market is segmented by province, reflecting variations in healthcare infrastructure and diabetes prevalence across regions. Component-wise, the market is divided into sensors and durables (receivers and transmitters), with sensors likely representing a larger share due to their consumable nature and the need for frequent replacements. Key players like Dexcom, Eversense, Medtronic, Abbott, and Ascensia are driving innovation and competition, further stimulating market growth.

The market's future trajectory suggests sustained expansion, driven by ongoing improvements in CGM technology and growing government initiatives aimed at improving diabetes management in Korea. Factors such as the increasing aging population, which is more susceptible to diabetes, and the rising disposable incomes enabling access to advanced medical technologies will contribute to market expansion. While challenges such as the high cost of CGM devices and potential reimbursement hurdles exist, the overall market outlook remains positive, with continuous innovation and market penetration expected to offset these challenges. The substantial growth potential makes the Korean CGM market an attractive landscape for both established players and new entrants. Further research into regional disparities and patient preferences will provide a more granular understanding of market dynamics.

This comprehensive report provides an in-depth analysis of the Korea Continuous Glucose Monitoring (CGM) Devices market, offering valuable insights for industry stakeholders, investors, and market entrants. The study period spans from 2019 to 2033, with 2025 serving as the base and estimated year. The report leverages extensive market research and data analysis to provide a detailed understanding of market dynamics, trends, and future projections. The market is segmented by provinces (Seoul, Busan, Daegu Metropolitan City, Incheon Metropolitan City, Gwangju, and Other Provinces) and components (Sensors and Durables – Receivers and Transmitters). Key players analyzed include Dexcom Inc, Eversense, Medtronic PLC, Abbott Diabetes Care Inc, and Ascensia. The report projects a market value of XX Million by 2033.

Korea Continuous Glucose Monitoring Devices Market Dynamics & Concentration

The Korean CGM devices market exhibits a moderately concentrated landscape, with key players vying for market share. The market concentration ratio (CR4) in 2024 was estimated at xx%, indicating a presence of both established multinational corporations and local players. Several factors drive market innovation, including:

• Technological advancements: Miniaturization, improved accuracy, and integration with insulin delivery systems are key innovation drivers.
• Stringent regulatory frameworks: Korea's regulatory bodies are actively involved in ensuring the safety and efficacy of CGM devices, fostering a regulated yet dynamic market environment. This includes approval processes and reimbursement policies significantly impacting market access.
• Emergence of substitute technologies: While CGM devices are currently dominant, the emergence of alternative technologies like flash glucose monitoring systems presents a potential competitive challenge.
• End-user trends: Growing awareness of diabetes management and increasing adoption of connected health technologies among the diabetic population contribute positively to market expansion.
• M&A activities: The recent acquisition of EOFlow Co. Ltd. by Medtronic PLC, demonstrates the significant level of consolidation and investment in the sector. This deal, among others, suggests a market driven by strategic acquisitions aimed at gaining technology and market share. The number of M&A deals in the Korean CGM market from 2019 to 2024 was xx, highlighting significant industry consolidation. The deal value during the same period is estimated at xx Million. The average market share of the top four players during this period is xx%.

Korea Continuous Glucose Monitoring Devices Market Industry Trends & Analysis

The Korean CGM devices market is experiencing robust growth, driven by a confluence of factors. The market exhibited a CAGR of xx% during the historical period (2019-2024) and is projected to maintain a CAGR of xx% during the forecast period (2025-2033). This growth is fueled by:

• Rising prevalence of diabetes: Korea faces a growing burden of diabetes, creating a large and expanding target market for CGM devices.
• Increasing healthcare expenditure: Improved healthcare infrastructure and higher disposable incomes are driving healthcare spending, facilitating greater access to advanced diabetes management technologies, like CGM.
• Technological disruptions: The development of more accurate, user-friendly, and cost-effective CGM devices, is driving wider adoption. This includes the integration of artificial intelligence for improved data analysis and personalized diabetes management.
• Changing consumer preferences: Patients are increasingly seeking convenient, reliable, and integrated diabetes management solutions, which boosts the demand for CGM devices.
• Competitive dynamics: The presence of both established international players and emerging domestic companies fosters competition, leading to continuous product innovation and price optimization. The market penetration rate is projected to reach xx% by 2033.

Leading Markets & Segments in Korea Continuous Glucose Monitoring Devices Market

The Seoul Metropolitan area dominates the Korean CGM devices market, holding the largest market share at xx% in 2024. This is primarily attributed to:

• Higher concentration of healthcare facilities: Seoul possesses a high density of hospitals and clinics, facilitating easier access to CGM devices and related services.
• High disposable incomes and better healthcare awareness: A higher concentration of affluent individuals in Seoul leads to increased spending on healthcare technologies.
• Advanced healthcare infrastructure: Seoul's well-developed healthcare infrastructure enables better integration and utilization of advanced technologies like CGM devices.

Other significant markets include Busan, Daegu, and Incheon Metropolitan City. While these cities possess a smaller market share compared to Seoul, they are expected to experience significant growth in the coming years, driven by factors like improved access to healthcare and increasing diabetes prevalence.

Within the component segment, sensors constitute the largest share (xx% in 2024) due to their consumable nature. Durables (receivers and transmitters) represent a smaller but still significant market segment, benefiting from longer lifecycles and higher profit margins.

Korea Continuous Glucose Monitoring Devices Market Product Developments

Recent product innovations focus on improved accuracy, smaller form factors, and better integration with insulin delivery systems. The market is witnessing the emergence of next-generation CGM devices offering advanced features like predictive alerts and integration with smartphone applications, enhancing user experience and improving diabetes management outcomes. These advancements improve market fit by catering to the growing need for more convenient and effective diabetes management solutions.

Key Drivers of Korea Continuous Glucose Monitoring Devices Market Growth

The Korean CGM market is propelled by several factors:

• Technological advancements: Continuous innovation in CGM technology leads to more accurate, user-friendly, and affordable devices.
• Government support: Government initiatives to improve diabetes management and expand access to advanced healthcare technologies fuel market expansion.
• Rising awareness of diabetes: Increasing public awareness about diabetes and its complications encourages better disease management, boosting demand.

Challenges in the Korea Continuous Glucose Monitoring Devices Market

Several challenges hinder market growth:

• High device cost: The relatively high cost of CGM devices poses a barrier to widespread adoption, particularly amongst low-income individuals.
• Reimbursement policies: Limited insurance coverage for CGM devices restricts access for many patients.
• Competition: The presence of established global players increases competition, potentially impacting price and profitability. This can result in a xx% reduction in profit margins for new entrants within the next 5 years.

Emerging Opportunities in Korea Continuous Glucose Monitoring Devices Market

Significant growth opportunities exist in the Korean CGM market:

• Expansion of telehealth: Integration of CGM data with telehealth platforms opens new avenues for remote patient monitoring and personalized care.
• Strategic partnerships: Collaborations between CGM manufacturers and healthcare providers enhance market penetration and improve patient access.
• Product diversification: The development of innovative CGM devices catering to specific patient needs can create new market segments.

Leading Players in the Korea Continuous Glucose Monitoring Devices Market Sector

• Dexcom Inc
• Eversense
• Medtronic PLC
• Abbott Diabetes Care Inc
• Ascensia

Key Milestones in Korea Continuous Glucose Monitoring Devices Market Industry

• May 2023: Medtronic PLC acquired EOFlow Co. Ltd., expanding its CGM device portfolio and strengthening its position in the market.
• Jan 2023: A 10% price increase for Abbott FreeStyle Libre in Korea due to inflation, potentially impacting market accessibility.

Strategic Outlook for Korea Continuous Glucose Monitoring Devices Market Market

The future of the Korean CGM market is bright, driven by continuous technological advancements, increased healthcare spending, and a rising prevalence of diabetes. Strategic partnerships, expansion of telehealth services, and product diversification will be key growth accelerators, leading to substantial market expansion throughout the forecast period. The market is poised for significant growth, presenting ample opportunities for industry players to capitalize on the growing demand for advanced diabetes management solutions.

Korea Continuous Glucose Monitoring Devices Market Segmentation

• 1. Component
  • 1.1. Sensors
  • 1.2. Durables (Receivers and Transmitters)
• 2. Provinces (Quantitative Analysis)
  • 2.1. Seoul
  • 2.2. Busan
  • 2.3. Daegu Metropolitan City
  • 2.4. Incheon Metropolitan City
  • 2.5. Gwangju
  • 2.6. Other Provinces

Korea Continuous Glucose Monitoring Devices Market Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
• 2. South America
  • 2.1. Brazil
  • 2.2. Argentina
  • 2.3. Rest of South America
• 3. Europe
  • 3.1. United Kingdom
  • 3.2. Germany
  • 3.3. France
  • 3.4. Italy
  • 3.5. Spain
  • 3.6. Russia
  • 3.7. Benelux
  • 3.8. Nordics
  • 3.9. Rest of Europe
• 4. Middle East & Africa
  • 4.1. Turkey
  • 4.2. Israel
  • 4.3. GCC
  • 4.4. North Africa
  • 4.5. South Africa
  • 4.6. Rest of Middle East & Africa
• 5. Asia Pacific
  • 5.1. China
  • 5.2. India
  • 5.3. Japan
  • 5.4. South Korea
  • 5.5. ASEAN
  • 5.6. Oceania
  • 5.7. Rest of Asia Pacific