The global blood glucose monitoring system market size was estimated to be USD 16.43 billion in 2023 and is expected to reach at USD 47.4 billion by 2033 with a CAGR of 10.12% during the forecast period 2023-2033. Growing prevalence of diabetes, increasing awareness regarding blood sugar monitoring among population, rising technological advancements, surge in reimbursement policies, growing demand for continuous blood glucose monitoring devices, increasing research & development activities on non-invasive CGM systems, launch of novel monitoring devices, and surge in approval of innovative technologies by regulatory bodies are some of the key factors boosting the market growth.
Surge in approval of innovative technologies by regulatory bodies is predicted to boost the market growth during the forecast period. For instance, in June 2022, Abbott has revealed its plans to create a novel bio-wearable capable of continuously monitoring both glucose and ketone levels using a single sensor. This system has received breakthrough device designation from the U.S. Food and Drug Administration, aimed at accelerating the evaluation process for groundbreaking technologies that can enhance the quality of life for individuals dealing with life-threatening or permanently debilitating diseases or conditions.
By Device, Self-monitoring devices was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to the increasing technological advancements and rising launch of new products. Additionally, Continuous blood glucose monitoring (CBGM) devices is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of type 1 diabetes, increasing adoption of minimally invasive procedures, and growing product approvals by regulatory bodies. For instance, in March 2023, Abbott has made an announcement regarding the U.S. FDA's approval of the integration of its FreeStyle Libre 3 and FreeStyle Libre 2 integrated continuous glucose monitoring (iCGM) system sensors with automated insulin delivery (AID) systems.
By Modality, Wearable was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to increasing technological advancement and growing launch of wearable CGM devices by major market players. Additionally, Non-wearable is predicted to grow at fastest CAGR during the forecast period owing to the presence of major market players and rising introduction of advanced products. For instance, in September 2021, KnowUTM was released by Know Labs, Inc., a cutting-edge portable medical-grade glucose monitoring devices that makes use of Bio-RFIDTM, the business's unique non-invasive diagnostic technology.
By Type, Non-invasive was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to the growing demand for non-invasive procedures, increasing focus on development of non-invasive alternatives, and surge in launch of new devices. For instance, in February 2022, Scanbo, a company based in the UK, has created a prototype capable of measuring glucose levels through a 60-second non-invasive test on the finger, eliminating the need for the traditional blood drop method. Additionally, is predicted to grow at fastest CAGR during the forecast period owing to the increasing usage of SMBG devices among diabetic population and growing launch of new product.
By End-user, Hospital was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to increasing healthcare infrastructure, growing healthcare expenditure in hospitals, rising adoption of BGM in the outpatient as well as inpatient hospital settings, and surge in introduction of innovative products. For instance, in January 2022, Roche has introduced a new point-of-care blood glucose monitor specifically designed for hospital professionals. The monitor comes with a companion device resembling a touchscreen smartphone, which will operate its own applications. Additionally, Home care is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of self-monitoring of blood glucose, increasing demand for remote monitoring devices,
North America region is anticipated for the highest revenue share during the forecast period owing to the growing geriatric population which is prone to diabetes, surge in prevalence of obesity, rising technological advancements, increasing improvements in the healthcare sector, and growing partnership & collaboration within market players. For instance, in March 2023, The Accu-Chek Guide Me blood glucose monitoring device is produced and advertised by Astellas Pharma Inc. and Roche Diabetes Care Japan Co., Ltd. This system will be combined with BlueStar, a digital health solution for diabetes patients developed by Welldoc, Inc., which has FDA clearance and is available in the United States and Canada. Astellas and Welldoc are collaborating on the development of BlueStar for the Japanese market. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising improvements in healthcare facilities, growing reimbursement policies, increasing prevalence of diabetes, surge in awareness regarding diabetes preventive care, and surge in launch of advanced devices. For instance, in November 2020, Abbott has introduced the FreeStyle Libre system in India, featuring continuous glucose monitoring (CGM) technology. This device is now accessible to adults and children (over the age of four) with diabetes in India, along with women experiencing gestational diabetes during pregnancy. The system empowers them to monitor glucose levels at their convenience, leading to enhanced glucose control.
Surge in approval of innovative technologies by regulatory bodies is predicted to boost the market growth during the forecast period. For instance, in June 2022, Abbott has revealed its plans to create a novel bio-wearable capable of continuously monitoring both glucose and ketone levels using a single sensor. This system has received breakthrough device designation from the U.S. Food and Drug Administration, aimed at accelerating the evaluation process for groundbreaking technologies that can enhance the quality of life for individuals dealing with life-threatening or permanently debilitating diseases or conditions.
By Device, Self-monitoring devices was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to the increasing technological advancements and rising launch of new products. Additionally, Continuous blood glucose monitoring (CBGM) devices is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of type 1 diabetes, increasing adoption of minimally invasive procedures, and growing product approvals by regulatory bodies. For instance, in March 2023, Abbott has made an announcement regarding the U.S. FDA's approval of the integration of its FreeStyle Libre 3 and FreeStyle Libre 2 integrated continuous glucose monitoring (iCGM) system sensors with automated insulin delivery (AID) systems.
By Modality, Wearable was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to increasing technological advancement and growing launch of wearable CGM devices by major market players. Additionally, Non-wearable is predicted to grow at fastest CAGR during the forecast period owing to the presence of major market players and rising introduction of advanced products. For instance, in September 2021, KnowUTM was released by Know Labs, Inc., a cutting-edge portable medical-grade glucose monitoring devices that makes use of Bio-RFIDTM, the business's unique non-invasive diagnostic technology.
By Type, Non-invasive was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to the growing demand for non-invasive procedures, increasing focus on development of non-invasive alternatives, and surge in launch of new devices. For instance, in February 2022, Scanbo, a company based in the UK, has created a prototype capable of measuring glucose levels through a 60-second non-invasive test on the finger, eliminating the need for the traditional blood drop method. Additionally, is predicted to grow at fastest CAGR during the forecast period owing to the increasing usage of SMBG devices among diabetic population and growing launch of new product.
By End-user, Hospital was the highest revenue-grossing segment in the global blood glucose monitoring system market in 2022 owing to increasing healthcare infrastructure, growing healthcare expenditure in hospitals, rising adoption of BGM in the outpatient as well as inpatient hospital settings, and surge in introduction of innovative products. For instance, in January 2022, Roche has introduced a new point-of-care blood glucose monitor specifically designed for hospital professionals. The monitor comes with a companion device resembling a touchscreen smartphone, which will operate its own applications. Additionally, Home care is predicted to grow at fastest CAGR during the forecast period owing to the rising adoption of self-monitoring of blood glucose, increasing demand for remote monitoring devices,
North America region is anticipated for the highest revenue share during the forecast period owing to the growing geriatric population which is prone to diabetes, surge in prevalence of obesity, rising technological advancements, increasing improvements in the healthcare sector, and growing partnership & collaboration within market players. For instance, in March 2023, The Accu-Chek Guide Me blood glucose monitoring device is produced and advertised by Astellas Pharma Inc. and Roche Diabetes Care Japan Co., Ltd. This system will be combined with BlueStar, a digital health solution for diabetes patients developed by Welldoc, Inc., which has FDA clearance and is available in the United States and Canada. Astellas and Welldoc are collaborating on the development of BlueStar for the Japanese market. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising improvements in healthcare facilities, growing reimbursement policies, increasing prevalence of diabetes, surge in awareness regarding diabetes preventive care, and surge in launch of advanced devices. For instance, in November 2020, Abbott has introduced the FreeStyle Libre system in India, featuring continuous glucose monitoring (CGM) technology. This device is now accessible to adults and children (over the age of four) with diabetes in India, along with women experiencing gestational diabetes during pregnancy. The system empowers them to monitor glucose levels at their convenience, leading to enhanced glucose control.
Segmentation: Blood Glucose Monitoring System Market Report 2022 - 2033
Blood Glucose Monitoring System Market Analysis & Forecast by Device 2022 - 2033 (Revenue USD Bn)
Self-monitoring Devices
- Lancets
- Testing Strips
- Blood Glucose Meter
Continuous Blood Glucose Monitoring Devices
- Sensors
- Insulin Pumps
- Transmitter & Receiver
Blood Glucose Monitoring System Market Analysis & Forecast by Modality 2022 - 2033 (Revenue USD Bn)
- Wearable
- Non-Wearable
Blood Glucose Monitoring System Market Analysis & Forecast by Type 2022 - 2033 (Revenue USD Bn)
- Invasive
- Non-Invasive
Blood Glucose Monitoring System Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Home Care
- Diagnostic Centers
- Hospitals
Blood Glucose Monitoring System Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Blood Glucose Monitoring System Market: Device Estimates & Trend Analysis
8. Blood Glucose Monitoring System Market: Modality Estimates & Trend Analysis
9. Blood Glucose Monitoring System Market: Type Estimates & Trend Analysis
10. Blood Glucose Monitoring System Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Blood Glucose Monitoring System Market
13. Europe Global Blood Glucose Monitoring System Market
14. Asia Pacific Global Blood Glucose Monitoring System Market
15. Latin America Global Blood Glucose Monitoring System Market
16. MEA Global Blood Glucose Monitoring System Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Medtronic plc
- Abbott Laboratories
- Insulet Corporation
- Glysens Incorporated
- Ascensia Diabetes Care
- F. Hoffmann-La Roche Ltd
- Sanofi
- Ypsomed Holdings
- Novo Nordisk
- Dexcom Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 16.43 Billion |
| Forecasted Market Value ( USD | $ 47.4 Billion |
| Compound Annual Growth Rate | 10.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
