The global glucometers market accounted for USD 16.34 billion in 2023 and is expected to reach at USD 61.59 billion by 2034 with a CAGR of 12.82% during the forecast period 2024-2034. Rising diabetes prevalence, improved understanding of diabetes management, technology developments, and government programs and policies will all contribute to the market's growth.
The significance of closely monitoring blood sugar levels to avoid problems and manage diabetes is becoming more widely recognized. The use of glucometers to regularly check blood glucose levels is encouraged in diabetics by this awareness. Globally, the growing incidence of diabetes is the main factor propelling the glucometer industry. The need for glucometers for self-monitoring blood glucose levels rises in tandem with the annual increase in the number of people with diabetes. For instance, the Accu-Chek Solo micropump system for insulin delivery, integrating with Accu-Chek blood glucose monitoring technology, was introduced by Roche in January 2023.
By type of device, the traditional handheld glucometers segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the convenience, affordability, and widespread adoption among individuals with diabetes. For instance, Abbott's FreeStyle Libre 3 system, the most recent iteration of its continuous glucose monitoring (CGM) system, was approved by the FDA in April 2023. Additionally, the continuous glucose monitoring (CGM) systems segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for real-time glucose monitoring, technological advancements, and increasing adoption among healthcare professionals and individuals with diabetes.
By technology, the invasive method segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the accuracy, established technology, and widespread acceptance among healthcare providers and patients. For instance, Dexcom unveiled its next-generation G7 continuous glucose monitoring device in March 2023; it has a smaller profile, a longer wear time, and improved accuracy. Additionally, the non-invasive methods segment is predicted to grow at the fastest CAGR during the forecast period owing to the advancements in technology, increasing focus on patient comfort, and potential for continuous, hassle-free glucose monitoring.
By application, the diabetes management segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the growing prevalence of diabetes, rising demand for effective management solutions, and increasing emphasis on self-care and monitoring. For instance, Medtronic launched the MiniMed 780G system in February 2023. It is a sophisticated hybrid closed-loop insulin delivery device that offers enhanced glucose control. Additionally, the gestational diabetes monitoring segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness about gestational diabetes risks, increasing maternal age, and emphasis on early detection and management for maternal and fetal health.
By end-user, the homecare settings segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the convenience, affordability, and the growing trend of self-management of chronic conditions at home. For instance, in March 2023, Ascensia collaborated with Voluntis, a digital therapeutics business, to include its blood glucose monitoring data into Voluntis' digital health platform. Additionally, the hospitals and clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the integration of glucometers into routine clinical practice, increasing emphasis on point-of-care testing, and rising demand for efficient diabetes management solutions in healthcare facilities.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of diabetes, well-established healthcare infrastructure, and early adoption of advanced glucose monitoring technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly increasing incidence of diabetes, improving healthcare infrastructure, and expanding access to diabetes management devices and services. For instance, in April 2023, LifeScan announced the debut of its OneTouch Verio Reflect blood glucose monitoring device, which includes color range indications for simple understanding of data.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The significance of closely monitoring blood sugar levels to avoid problems and manage diabetes is becoming more widely recognized. The use of glucometers to regularly check blood glucose levels is encouraged in diabetics by this awareness. Globally, the growing incidence of diabetes is the main factor propelling the glucometer industry. The need for glucometers for self-monitoring blood glucose levels rises in tandem with the annual increase in the number of people with diabetes. For instance, the Accu-Chek Solo micropump system for insulin delivery, integrating with Accu-Chek blood glucose monitoring technology, was introduced by Roche in January 2023.
By type of device, the traditional handheld glucometers segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the convenience, affordability, and widespread adoption among individuals with diabetes. For instance, Abbott's FreeStyle Libre 3 system, the most recent iteration of its continuous glucose monitoring (CGM) system, was approved by the FDA in April 2023. Additionally, the continuous glucose monitoring (CGM) systems segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing demand for real-time glucose monitoring, technological advancements, and increasing adoption among healthcare professionals and individuals with diabetes.
By technology, the invasive method segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the accuracy, established technology, and widespread acceptance among healthcare providers and patients. For instance, Dexcom unveiled its next-generation G7 continuous glucose monitoring device in March 2023; it has a smaller profile, a longer wear time, and improved accuracy. Additionally, the non-invasive methods segment is predicted to grow at the fastest CAGR during the forecast period owing to the advancements in technology, increasing focus on patient comfort, and potential for continuous, hassle-free glucose monitoring.
By application, the diabetes management segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the growing prevalence of diabetes, rising demand for effective management solutions, and increasing emphasis on self-care and monitoring. For instance, Medtronic launched the MiniMed 780G system in February 2023. It is a sophisticated hybrid closed-loop insulin delivery device that offers enhanced glucose control. Additionally, the gestational diabetes monitoring segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness about gestational diabetes risks, increasing maternal age, and emphasis on early detection and management for maternal and fetal health.
By end-user, the homecare settings segment accounted for the highest revenue-grossing segment in the global glucometers market in 2023 owing to the convenience, affordability, and the growing trend of self-management of chronic conditions at home. For instance, in March 2023, Ascensia collaborated with Voluntis, a digital therapeutics business, to include its blood glucose monitoring data into Voluntis' digital health platform. Additionally, the hospitals and clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the integration of glucometers into routine clinical practice, increasing emphasis on point-of-care testing, and rising demand for efficient diabetes management solutions in healthcare facilities.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of diabetes, well-established healthcare infrastructure, and early adoption of advanced glucose monitoring technologies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rapidly increasing incidence of diabetes, improving healthcare infrastructure, and expanding access to diabetes management devices and services. For instance, in April 2023, LifeScan announced the debut of its OneTouch Verio Reflect blood glucose monitoring device, which includes color range indications for simple understanding of data.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type of Device, Technology, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Glucometers Market Report 2023 - 2034
Glucometers Market Analysis & Forecast by Type of Device 2023 - 2034 (Revenue USD Bn)
- Traditional Handheld Glucometers
- Continuous Glucose Monitoring (CGM) Systems
- Flash Glucose Monitoring Systems
Glucometers Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Invasive Method
- Non-Invasive Methods
Glucometers Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Diabetes Management
- Gestational Diabetes Monitoring
- Research Purposes
Glucometers Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals and Clinics
- Research Institutions
- Homecare Settings
Glucometers Market Analysis & Forecast by Region 2023 - 2034 (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. Glucometers Market: Type of Device Estimates & Trend Analysis
8. Glucometers Market: Technology Estimates & Trend Analysis
9. Glucometers Market: Application Estimates & Trend Analysis
10. Glucometers Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Glucometers Market
13. Europe Global Glucometers Market
14. Asia Pacific Global Glucometers Market
15. Latin America Global Glucometers Market
16. MEA Global Glucometers Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Abbott Laboratories
- Roche Diagnostics
- Dexcom Inc.
- Medtronic plc
- Ascensia Diabetes Care Holdings AG
- LifeScan Inc. (a subsidiary of Johnson & Johnson)
- B. Braun Melsungen AG
- Arkray Inc.
- AgaMatrix Holdings LLC
- Sanofi
- Trividia Health Inc.
- Nipro Corporation
- Sinocare Inc.
- Ypsomed AG
- Nova Biomedical Corporation
