Blood Glucose Monitoring Device Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global blood glucose monitoring device market provides qualitative and quantitative analysis for the period from 2021-2030. The global blood glucose monitoring device market was valued at USD 12.52 billion in 2022 and is expected to reach USD 26.44 billion in 2030, with a CAGR of 8.38% during the forecast period 2023-2030. The study on blood glucose monitoring device market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

The blood glucose monitoring device market is dedicated to producing and supplying devices and products aimed at monitoring and managing blood glucose levels, primarily catering to individuals with diabetes. These tools play a crucial role in enabling individuals with diabetes to monitor their blood sugar levels, thereby empowering them to make informed decisions regarding their diet, medication, and lifestyle. Within this market, you'll find handheld blood glucose meters that measure blood glucose levels using a small blood sample, typically obtained by pricking the skin with a lancet. People with diabetes often use these meters to track their blood sugar multiple times throughout the day. Additionally, the market encompasses Continuous Glucose Monitoring (CGM) systems. These systems offer real-time and continuous blood glucose monitoring, typically consisting of a sensor placed beneath the skin, which transmits data to a receiver or a smartphone app, providing a comprehensive view of glucose fluctuations. The blood glucose monitoring system market has witnessed notable technological advancements with a focus on enhancing device convenience, accuracy, and user-friendliness. These innovations aim to elevate the quality of life for individuals with diabetes by improving blood glucose control, reducing the risk of diabetes-related complications, and enhancing overall well-being.

The blood glucose monitoring system market is being propelled by the escalating prevalence of diabetes. This market is experiencing a rising demand for glucose-monitoring devices, in sync with the growing number of individuals being diagnosed with diabetes, encompassing both type 1 and type 2 diabetes. Furthermore, the market is benefiting from the increasing global aging population since older individuals are more susceptible to developing diabetes. The prevalence of diabetes serves as a significant market catalyst, creating a robust market landscape where the demand for effective glucose monitoring solutions is consistently increasing. Nonetheless, there are challenges associated with lower rates of diabetes diagnosis and treatment that could hinder market expansion. However, ongoing advancements in sensor technology and the development of wearable devices present substantial opportunities. These innovations are laser-focused on improving the accuracy, convenience, and non-invasiveness of glucose monitoring. By delivering more user-friendly and easily accessible monitoring solutions, businesses operating in this market can overcome barriers linked to diagnosis and treatment rates, ultimately broadening their market presence and reaching a more extensive customer base.

In the forthcoming forecast period, North America is anticipated to dominate the market, particularly the United States, owing to its notably high prevalence of diabetes. For instance, in April 2023, the Centers for Disease Control and Prevention (CDC) reported that over 37 million people in the U.S. have diabetes, with millions more at risk. This substantial disease burden creates a thriving market for blood glucose monitoring devices. Moreover, the region boasts a well-established and advanced healthcare infrastructure that facilitates diabetes diagnosis, treatment, and management, including the utilization of blood glucose monitoring devices. North America also serves as a center for technological innovation and healthcare research and development. Numerous prominent companies in the blood glucose monitoring market are headquartered in or have a significant presence in North America, fostering a culture of continuous innovation and the creation of cutting-edge monitoring devices. Conversely, the Asia-Pacific (APAC) region is emerging as the fastest-growing market for blood glucose monitoring systems. The escalating prevalence of diabetes in countries such as India and China has turned diabetes into a significant health concern in the APAC region. As the number of individuals with diabetes continues to grow, there is an increasing demand for blood glucose monitoring devices to manage this condition. Additionally, there has been a surge in diabetes awareness and management in the APAC region, driven by active engagement from governments, healthcare organizations, and Non-governmental Organizations (NGOs) in promoting awareness about diabetes and the significance of regular blood glucose monitoring.

Report Findings

1) Drivers

• The blood glucose monitoring system market is driven by the rising prevalence of diabetes.
• The rising aging population fuels the market growth.

2) Restraints

• Lower diagnosis and treatment rates may restrain the market growth.

3) Opportunities

• The ongoing advancements in sensor technology and wearable devices are likely to offer prominent opportunities for more accurate, convenient, and less invasive glucose monitoring.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.

The primary respondents approached include:

1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include:

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include:

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segments Covered

The global blood glucose monitoring device market is segmented on the basis of product, patient care setting, and application.

The Global Blood Glucose Monitoring Device Market by Product

• Self-monitoring
• Continuous Glucose Monitoring Devices

The Global Blood Glucose Monitoring Device Market by Patient Care Setting

• Hospital
• Homecare

The Global Blood Glucose Monitoring Device Market by Application

• Type 1
• Type 2
• Gestational Diabetes

Company Profiles

The companies covered in the report include:

• F. Hoffmann-La Roche Ltd
• Abbott Laboratories
• Ascensia Diabetes Care Holdings AG
• Medtronic
• Ypsomed AG
• B. Braun SE
• Nipro Medical Corporation
• ARKRAY, Inc.
• Prodigy Diabetes Care, LLC.
• ACON Laboratories, Inc.

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the blood glucose monitoring device market.

2. Complete coverage of all the segments in the blood glucose monitoring device market to analyze the trends, developments in the global market and forecast of market size up to 2030.

3. Comprehensive analysis of the companies operating in the global blood glucose monitoring device market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

This product will be delivered within 1-3 business days.