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United States Blood Glucose Monitoring Devices Market, Competition, Forecast and Opportunities, 2018-2028

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    Report

  • 84 Pages
  • October 2023
  • Region: United States
  • TechSci Research
  • ID: 5514130
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The United States Blood Glucose Monitoring Devices Market Was Valued at USD 3088.16 Million in 2020 and is Expected to Register a CAGR Value of 7.53% During the Forecast Period, to Reach USD 4689.97 Million by 2026F.

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United States Blood Glucose Monitoring Devices Market has valued at USD 3.47 Billion in 2022 and is anticipated to project steady growth in the forecast period with a CAGR of 7.92% through 2028. Blood glucose monitoring devices are essential medical tools used primarily by individuals with diabetes to effectively manage and monitor their blood sugar levels. These devices enable regular self-checks, providing immediate and accurate feedback on glucose levels. This information can then be used to make necessary adjustments in diet, exercise, or medication to maintain optimal blood sugar control. By consistently monitoring blood glucose levels, diabetic individuals can significantly reduce the risk of diabetes-related complications such as hypoglycemia and hyperglycemia. While the most common type of device is the glucose meter, continuous glucose monitoring (CGM) systems have gained popularity due to their ability to provide real-time, continuous sugar level readings around the clock. CGM systems offer a comprehensive and detailed view of blood sugar fluctuations, empowering individuals to make informed decisions about their diabetes management and overall well-being.

Key Market Drivers

Growing Diabetes Prevalence

The growing prevalence of diabetes in the United States is expected to increase the demand for blood glucose monitoring devices significantly. According to the American Diabetes Association, nearly 34.2 million Americans, which accounts for 10.5% of the population, were diagnosed with diabetes in 2018. This high prevalence highlights the urgent need for effective management tools. The increasing awareness about the importance of managing blood glucose levels further drives the demand for such devices. Moreover, advancements in technology have paved the way for the development of easy-to-use and reliable glucose monitoring devices. These devices empower patients by giving them greater control over their diabetes management. With the market for glucose monitoring devices projected to reach $10.5 billion by 2025, the sector is poised for rapid growth. The rise is also fueled by the availability of insurance coverage and the introduction of non-invasive monitoring technologies.

The proliferation of diabetes in the country and the need for efficient self-management tools are propelling the demand for blood glucose monitoring devices in the United States. As the healthcare industry continues to evolve, these devices play a crucial role in helping individuals monitor their blood glucose levels and maintain their overall well-being.

Increasing Geriatric Population

The rapidly increasing geriatric population in the United States is expected to significantly raise the demand for blood glucose monitoring devices. As individuals age, their bodies become more susceptible to various ailments, including diabetes. Diabetes, specifically type 2, is highly prevalent amongst the elderly. According to the American Diabetes Association, nearly 26.8% of adults aged 65 and above have diabetes in the U.S. This substantial prevalence underscores the critical need for effective management and treatment of the disease. Blood glucose monitoring devices play a vital role in the management of diabetes, as they assist in tracking the patient's blood glucose levels, facilitating the adjustment of medications and dietary choices. These devices are essential tools for individuals with diabetes, enabling them to maintain optimal health and minimize the risk of complications.

With the geriatric population in the United States continuing to grow, the demand for blood glucose monitoring devices is expected to increase correspondingly. Additionally, the increasing awareness about diabetes management among the elderly population, coupled with technological advancements in blood glucose monitoring devices, including non-invasive tools, further contributes to the surge in demand. These non-invasive devices offer convenience and ease of use, promoting better adherence to monitoring routines.

The interplay between the expanding geriatric population and the rising demand for blood glucose monitoring devices highlights the pressing need for accessible, reliable, and innovative solutions in diabetes management. Meeting this demand will not only improve the quality of life for the elderly but also contribute to the overall healthcare landscape in the United States.

New Product Launches

The launch of new products in the blood glucose monitoring devices market is expected to fuel the demand in the United States significantly. Innovations and advancements in technology have led to the development of compact, user-friendly, and more accurate devices. These improvements are anticipated to boost patient compliance and convenience, thereby driving the market growth.

Furthermore, the advent of Continuous Glucose Monitoring Systems (CGMS) has revolutionized diabetes management, allowing for real-time monitoring of blood glucose levels. This advancement provides users with a comprehensive picture of their glucose trends, enabling better control and management of diabetes. Additionally, the integration of smart features such as Bluetooth connectivity and smartphone applications enhances the user experience, making these devices increasingly appealing to tech-savvy consumers.

Moreover, concerted efforts by manufacturers and healthcare providers in raising awareness about the benefits of regular blood glucose monitoring are expected to further drive the uptake of these devices. With increased awareness, individuals are better informed about the importance of monitoring their blood glucose levels and are more likely to adopt these devices as part of their daily routine. As such, the introduction of new products, coupled with increasing awareness and technological advancements, is projected to spur the demand for blood glucose monitoring devices in the U.S., creating more opportunities for improved diabetes management and better quality of life for individuals living with diabetes.

Growing Advancements In Technologies

The burgeoning advancements in technology, driven by factors such as artificial intelligence and internet of things, are expected to significantly drive the demand for blood glucose monitoring devices in the United States. As the nation grapples with an increasing prevalence of diabetes, the need for convenient, accurate, and user-friendly monitoring solutions is higher than ever. Technological innovation is leading to the development of advanced devices equipped with features like continuous monitoring, real-time data sharing, and personalized insights. With the introduction of continuous glucose monitoring (CGM) systems, patients now have access to real-time data on their glucose levels, enabling them to make more informed decisions about their diet, exercise, and medication. These CGM systems provide valuable insights into glucose patterns, trends, and fluctuations, helping individuals to better manage their condition and prevent complications.

Furthermore, the integration of glucose data with other health information on a single platform holds immense potential in promoting a comprehensive approach to diabetes management. With the rise of digital health platforms, patients can now easily track their glucose levels, medication adherence, physical activity, and diet, all in one place. This integration enables healthcare providers to have a holistic view of the patient's health and make more informed treatment decisions. In the era of COVID-19, telemedicine has emerged as a crucial tool in delivering healthcare remotely. The ability to remotely monitor and manage glucose levels through connected devices has become even more important for individuals with diabetes, who may face challenges in accessing in-person medical care. Telemedicine, coupled with the convenience and accuracy offered by technologically advanced blood glucose monitoring devices, has greatly improved the accessibility and quality of diabetes care.

As these trends continue to evolve, the demand for blood glucose monitoring devices in the United States is set to surge. The market for these devices is not only driven by the growing awareness about the importance of regular glucose monitoring but also by the increasing adoption of digital health solutions and the shift towards patient-centered care. This trend of digitalization in healthcare, enhanced by the amplification of technology, is shaping the future of diabetes care and management. Therefore, it is safe to anticipate a continued uptick in the market for blood glucose monitoring devices in the US, as individuals embrace the benefits of technologically advanced solutions and healthcare systems prioritize the integration of digital health tools in diabetes management.

Key Market Challenges

Large Inaccuracies in The Devices

The United States market for blood glucose monitoring devices has been witnessing a significant decrease in demand due to large inaccuracies present in these devices. These inaccuracies, which can have a direct impact on the quality of care and management of diabetes, have become a major concern for both healthcare professionals and individuals living with diabetes. People rely on these devices to provide accurate readings in order to effectively manage their blood sugar levels and prevent potential health complications. When these devices provide inaccurate results, it can lead to improper management of diabetes, increasing the risk of severe health complications such as hypoglycemia and hyperglycemia. The consequences of mismanagement can be detrimental to the overall well-being and health of individuals with diabetes.

As a result of these inaccuracies, decreased trust among consumers has had an adverse effect on the market demand for blood glucose monitoring devices. Individuals are hesitant to rely on devices that may not provide accurate readings, leading to a decrease in their overall usage and demand. This decrease in demand is further exacerbated by the stringent regulatory landscape in the United States. Regulatory bodies, including the FDA, have become increasingly vigilant about the performance of these devices. As a result, recalls of faulty products have become more frequent in recent years, further eroding consumer confidence. In order to regain consumer trust and stabilize market demand, manufacturers must place a strong focus on enhancing the accuracy of their blood glucose monitoring devices. By addressing the issue of inaccuracies and ensuring reliable and precise readings, manufacturers can work towards rebuilding consumer confidence and ultimately improving the overall market demand for these devices in the United States.

Intense Competition Among the Competitors

The competitive landscape of the Blood Glucose Monitoring Devices sector within the United States is characterized by its intense rivalry. This highly competitive index is driven by the presence of multiple market players, each vying for a significant share. In such a market scenario, companies often engage in price wars, offer improved product features, or introduce innovative products to gain competitive advantages. However, this intense competition may lead to a decrease in demand for Blood Glucose Monitoring Devices. This drop is primarily attributed to the confusion and indecisiveness consumers face when overwhelmed by a multitude of options, leading to delayed or impulsive purchases. Additionally, aggressive marketing and advertising strategies by competitors can contribute to market saturation, further exhausting the consumer base and reducing the overall demand.

To address these challenges, industry leaders need to adopt a balanced approach. It is crucial to not only focus on outperforming competitors but also promote healthy competition that fosters sustainable market growth and consumer interest. This can be achieved by continuously investing in research and development to offer innovative solutions that meet the evolving needs of consumers. Furthermore, creating awareness about the importance of blood glucose monitoring and educating consumers about the different options available can help alleviate confusion and enhance decision-making. By adopting this approach, industry leaders can navigate the intense rivalry in the Blood Glucose Monitoring Devices sector while ensuring long-term market sustainability and customer satisfaction.

Key Market Trends

Growing Smart-Watch Based Apps

The burgeoning development of smartwatch-based applications has significant implications for the healthcare sector, particularly for the demand of Blood Glucose Monitoring (BGM) devices in the United States. With the increasing adoption of smartwatches as a primary interface for health management, their convenience and continuous, real-time data monitoring capabilities are revolutionizing the way individuals manage their health. The integration of BGM capabilities in smartwatch applications is a game-changer for diabetes management, allowing users to effortlessly track their glucose levels seamlessly throughout the day. The ease of access and the non-intrusive nature of these smartwatch-based BGM apps are expected to drive their adoption among the diabetes patient population.

Moreover, the rising prevalence of diabetes and the increasing awareness about proactive health management further amplify the demand for smartwatch-based BGM devices. As the U.S. healthcare sector continues its progressive digital integration and people become more ready to embrace advanced healthcare technology, the market becomes even more ripe for such advancements. Consequently, the growth in smartwatch-based apps is expected to spur an increase in demand for BGM devices, ultimately revolutionizing the way diabetes is managed in the U.S. This transformative shift empowers individuals to take control of their health and paves the way for a more proactive and personalized approach to diabetes management.

Emergence Of Needle Free Devices

The emergence of needle-free devices is poised to revolutionize the blood glucose monitoring market in the United States, driving substantial growth in demand. These innovative devices not only eliminate the discomfort and inconvenience associated with traditional needle-based methods but also offer a range of additional benefits. By facilitating easier and pain-free monitoring of blood glucose levels, they provide a breakthrough solution for patients with diabetes, who often require regular monitoring. Moreover, the needle-free approach significantly reduces the risk of infection and cross-contamination, enhancing patient safety and peace of mind. In addition to these advantages, needle-free blood glucose monitoring devices align perfectly with the growing consumer preference for non-invasive treatments and self-monitoring healthcare technologies. With their user-friendly design and seamless integration into daily routines, these devices are expected to experience a surge in adoption. The combination of technological advancement, user comfort, ease of use, and safety make these needle-free alternatives even more appealing, thereby stimulating market growth.

Furthermore, the rising prevalence of diabetes in the United States underscores the urgent need for efficient and user-friendly monitoring solutions. With an ever-increasing number of individuals requiring effective blood glucose management, the demand for advanced monitoring devices is set to soar. The advent of needle-free devices is not only expected to significantly increase the demand for blood glucose monitoring devices in the United States but also revolutionize the way patients monitor their blood glucose levels. By offering a comprehensive range of benefits, these devices are poised to shape the future of diabetes management and improve the overall quality of life for individuals with diabetes.

Segmental Insights

Product Insights

Based on the Product, Continuous Glucose Monitoring (CGM) devices are revolutionizing the United States Blood Glucose Monitoring Devices Market with their unmatched convenience and advanced technology. These cutting-edge devices offer a near-constant stream of glucose readings, which empower both patients and healthcare providers with a comprehensive view of the patient's glucose levels throughout the day. This continuous data collection proves particularly advantageous for patients with fluctuating glucose levels, as it enables them to effectively manage their condition with real-time insights and make informed decisions.

Moreover, the integration of many CGM devices with smartphone apps and other digital platforms further enhances patient engagement and ease of use. With the convenience of instant access to glucose data, patients can effortlessly track their glucose levels, set personalized alerts, and share their data with healthcare professionals for tailored guidance and support. The dominance of CGM devices in the market is a testament to their transformative impact on diabetes management. By providing a wealth of accurate and actionable information, CGM devices empower individuals to take control of their health and make proactive choices to achieve optimal glucose control. As the demand for CGM devices continues to soar, we can anticipate further advancements in technology and expanded accessibility, bringing us closer to a future where diabetes management is more seamless and effective than ever before.

Application Insights

Based on the Application, it is anticipated that Type 2 Diabetes will continue to exert its dominance in the United States Blood Glucose Monitoring Devices Market. This prevalence can be primarily attributed to the alarming rise in the incidence of Type 2 Diabetes across the nation, which is largely influenced by lifestyle factors such as obesity and physical inactivity. As the number of individuals diagnosed with Type 2 Diabetes continues to escalate, the demand for regular blood glucose monitoring devices in the market experiences a significant surge. These devices play a crucial role in enabling patients with Type 2 Diabetes to effectively manage their condition and maintain optimal health outcomes. By providing accurate and timely blood glucose readings, these devices allow patients to monitor their blood sugar levels and make informed decisions about their diet, exercise, and medication. Moreover, advancements in technology have led to the development of more user-friendly and convenient blood glucose monitoring devices. From wearable devices that continuously monitor glucose levels to smartphone apps that provide real-time data and personalized insights, the market offers a wide range of options to cater to the diverse needs of patients.

With the increasing emphasis on preventive healthcare and the growing awareness about the importance of managing Type 2 Diabetes, the demand for blood glucose monitoring devices is expected to continue its upward trajectory. These devices not only empower patients to take control of their health but also contribute to reducing the long-term complications associated with uncontrolled blood sugar levels. In conclusion, the United States Blood Glucose Monitoring Devices Market is witnessing a significant surge in demand driven by the rising prevalence of Type 2 Diabetes. The crucial role played by these devices in enabling patients to effectively manage their condition and maintain optimal health outcomes cannot be understated. As technology continues to advance, we can expect further innovations in blood glucose monitoring devices to cater to the evolving needs of patients and improve their quality of life.

Regional Insights

The Western region of the United States, encompassing states such as California, Oregon, and Washington, is poised to exert a significant influence and maintain dominance over the rapidly growing Blood Glucose Monitoring Devices Market. This projection is underpinned by several compelling factors that contribute to its favorable environment for market growth. The region exhibits a notably high prevalence of diabetes, with a substantial number of individuals living with this chronic condition. This necessitates a robust healthcare infrastructure that can efficiently monitor and manage the blood glucose levels of patients. The Western region has been at the forefront of developing and implementing advanced healthcare systems, ensuring that individuals receive timely and effective care for their diabetes management.

Additionally, there has been a notable increase in awareness among individuals regarding the benefits of regular blood glucose monitoring. People are now more proactive in managing their health, understanding the importance of monitoring their blood sugar levels to prevent complications related to diabetes. This shift in mindset has led to a greater demand for reliable and user-friendly blood glucose monitoring devices, creating opportunities for market growth in the Western region. Furthermore, the Western region boasts the presence of key market players who actively contribute to the advancement of the blood glucose monitoring field. These companies invest in research and development, continuously introducing innovative technologies and solutions that enhance the accuracy, convenience, and usability of monitoring devices. Their presence not only drives competition but also fosters an environment of collaboration, where ideas and expertise are shared to further improve the efficacy of blood glucose monitoring devices. In conclusion, the combination of a high prevalence of diabetes, increased awareness among individuals, and the presence of key market players positions the Western region of the United States as a frontrunner in the field of blood glucose monitoring. With its robust healthcare infrastructure, proactive approach to diabetes management, and continuous innovation, the Western region is set to lead the way in shaping the future of blood glucose monitoring devices.

Report Scope:

In this report, the United States Blood Glucose Monitoring Devices Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

United States Blood Glucose Monitoring Devices Market, By Product:

  • Self-Blood Glucose Monitoring Devices
  • Continuous Glucose Monitoring Devices

United States Blood Glucose Monitoring Devices Market, By Application:

  • Type 2 Diabetes
  • Type 1 Diabetes
  • Gestational Diabetes

United States Blood Glucose Monitoring Devices Market, By End User:

  • Home Care Setting
  • Hospital & Clinics
  • Others

United States Blood Glucose Monitoring Devices Market, By Region:

  • Northeast Region
  • Midwest Region
  • West Region
  • South Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States Blood Glucose Monitoring Devices Market.

Available Customizations:

United States Blood Glucose Monitoring Devices Market report with the given market data, the publisher offers customizations according to a company's specific needs.


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Frequently Asked Questions about the U.S. Blood Glucose Monitoring Devices Market

What is the estimated value of the U.S. Blood Glucose Monitoring Devices Market?

The U.S. Blood Glucose Monitoring Devices Market was estimated to be valued at $3.47 Billion in 2022.

What is the growth rate of the U.S. Blood Glucose Monitoring Devices Market?

The growth rate of the U.S. Blood Glucose Monitoring Devices Market is 7.9%, with an estimated value of $5.43 Billion by 2028.

What is the forecasted size of the U.S. Blood Glucose Monitoring Devices Market?

The U.S. Blood Glucose Monitoring Devices Market is estimated to be worth $5.43 Billion by 2028.

Who are the key companies in the U.S. Blood Glucose Monitoring Devices Market?

Key companies in the U.S. Blood Glucose Monitoring Devices Market include Abbott Laboratories Inc, Medtronic plc, Roche Diagnostics Corporation, DexCom, Inc., B. Braun Medical Inc., Becton, Dickinson and Company, Sanofi, Aventis U.S. LLC, Insulet Corporation and Nipro Medical Corporation.

Table of Contents

1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. United States Blood Glucose Monitoring Devices Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Product (Self Blood Glucose Monitoring Devices, Continuous Glucose Monitoring Devices)
5.2.2. By Application (Type 2 Diabetes, Type 1 Diabetes, Gestational Diabetes)
5.2.3. By End User (Home Care Settings, Hospital & Clinics, Others)
5.2.4. By Region
5.2.5. By Company (2022)
5.3. Market Map
6. North-East Blood Glucose Monitoring Devices Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Product
6.2.2. By Application
6.2.3. By End User
7. Mid-West Blood Glucose Monitoring Devices Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product
7.2.2. By Application
7.2.3. By End User
8. West Blood Glucose Monitoring Devices Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Product
8.2.2. By Application
8.2.3. By End User
9. South Blood Glucose Monitoring Devices Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Product
9.2.2. By Application
9.2.3. By End User
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
11.1. Recent Development
11.2. Mergers & Acquisitions
11.3. Product Launches
12. Policy & Regulatory Landscape13. United States Economic Profile14. United States Blood Glucose Monitoring Devices Market: SWOT Analysis
15. Porter’s Five Forces Analysis
15.1. Competition in the Industry
15.2. Potential of New Entrants
15.3. Power of Suppliers
15.4. Power of Customers
15.5. Threat of Substitute Products
16. Competitive Landscape
16.1. Abbott Laboratories Inc
16.1.1. Business Overview
16.1.2. Product Offerings
16.1.3. Recent Developments
16.1.4. Financials (As Reported)
16.1.5. Key Personnel
16.2. Medtronic plc
16.3. Roche Diagnostics Corporation
16.4. DexCom, Inc.
16.5. B. Braun Medical Inc.
16.6. Becton, Dickinson and Company
16.7. Sanofi-Aventis U.S. LLC
16.8. Insulet Corporation
16.9. Nipro Medical Corporation
16.10. Terumo Medical Corporation
17. Strategic Recommendations18. About the Publisher & Disclaimer

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Abbott Laboratories Inc
  • Medtronic plc
  • Roche Diagnostics Corporation
  • DexCom, Inc.
  • B. Braun Medical Inc.
  • Becton, Dickinson and Company
  • Sanofi-Aventis U.S. LLC
  • Insulet Corporation
  • Nipro Medical Corporation
  • Terumo Medical Corporation