Blood Glucose Monitoring Devices Market

Blood Glucose Monitoring Devices Market Overview for 2024 to 2034

The blood glucose monitoring devices market size is estimated to be valued at USD 14.2 billion in 2024. The market is estimated to cross a valuation of USD 22.2 billion by 2034. Market analysis suggests that the trend of choosing blood glucose monitoring devices is driven by a rise in the prevalence of diabetes and the ageing population worldwide.

Market Outlook:

Data Points	Market Insights
Market Value 2023	USD 13.6 Billion
Market Value 2024	USD 14.2 Billion
Market Value 2034	USD 22.2 Billion
CAGR 2024 to 2034	4.6%

• Blood glucose monitoring systems are in demand due to the rise in the prevalence of diabetes and the ageing population.
• Devices are able to identify trends and patterns in blood glucose levels that can aid the healthcare professional in managing the patient's diabetes more effectively.

Sales Analysis of Blood Glucose Monitoring Devices

• Blood glucose monitoring equipment will continue to be in high demand, least affected by any industry margin compressions. The preference for these devices is growing for monitoring the blood glucose level. This is a major factor in increasing the production of blood glucose monitoring devices.
• A wide number of healthcare facilities utilize continuous blood glucose monitoring devices (CGMs), to reduce the frequency of POCT testing associated with blood glucose monitoring.

Historical Performance and Future Growth of the Blood Glucose Monitoring Devices Market

CAGR from 2019 to 2023	5.0%
CAGR from 2024 to 2034	4.9%

• The COVID-19 outbreak has necessitated the use of continuous blood glucose monitoring devices (CGMs) to reduce the amount of nursing exposure to COVID-19 patients with diabetes.
• The time needed to obtain blood glucose measurements, and the amount of personal protective equipment needed for interacting with patients during the blood glucose testing can all be reduced by using continuous blood glucose monitoring devices to replace assisted monitoring of blood glucose by bedside nurses.
• The use of telemedicine during the COVID-19 lockdown for diabetes management increased the use of blood glucose monitoring devices thus propelling the market growth.
• Growing number of diabetic patients might be attributed in part to the global population's dietary habits and lifestyle patterns. Increased consumption of junk food, alcohol and a sedentary lifestyle all contribute to the rise in diabetes cases.

Key Opportunities for the Blood Glucose Monitoring Device Manufacturers

• The demand for blood glucose monitoring devices is being boosted by the significant expansion in the diabetic population and ongoing technological improvements in blood glucose monitoring devices.
• Before, type 2 diabetes was only found in adults, but it is becoming increasingly common in kids as well. Monitoring blood glucose levels is becoming more and more important with its increasing prevalence in children.
• The rising prevalence of gestational diabetes in women. Complications during pregnancy and delivery are more likely in women with gestational diabetes. Hence, these factors are opening opportunities for the growth of the blood glucose monitoring devices market.

 Challenges for the Blood Glucose Monitoring Device Market

• The fact that a significant portion of the population has undiagnosed diabetes is one of the major reasons blood glucose monitoring systems are not used as frequently as they should be, particularly in emerging economies.
• The chronic disorders such as diabetes mellitus are not well-known to the general population. Expansion may also be hampered by the absence of standard operating procedures by public or commercial entities as well as by limited access to advanced healthcare infrastructure.

Country-wise Insights

Countries	2034 Value CAGR in Global Market
United States	3.9%
United Kingdom	3.8%
China	4.8%
Germany	4.1%

Blood Glucose Monitoring Device Market in China

• The market will rise as a result of increased product accessibility, more consumer awareness, and business expansion by industry participants across the nation.
• Government programmes and efforts to raise awareness of diabetes management will spur business growth. For instance, the "National diabetes programme" (WDF02-036) initiative in China, which is supported by the World diabetes foundation (WDF), is focused on those who have diabetes by emphasising treatment and capacity building across the country's healthcare system.

Blood Glucose Monitoring Devices Market in the United States

• Rising cases of obesity are one of the main causes of type 2 diabetes in the population of the USA According to the Centres for Disease Control and Prevention, the obesity prevalence rate in the United States from 2017 to March 2020 was 41.7%.
• According to an estimate provided by the CDC in 2020, 1.5 million new cases of diabetes were diagnosed in the USA This is a prime driver for the production of blood glucose monitoring devices within the country.

Blood Glucose Monitoring Devices Market in Germany

• The market is driven by the strict regulation of the price and reimbursement policies. For instance, Germany's Federal Joint Committee provided Dexcom with reimbursement for its continuous glucose monitoring system for patients with insulin-dependent type 1 and type 2 diabetes.
• The companies in the diabetes care device market, some of the potential opportunities include the introduction of numerous new products and an increase in international research collaborations for technological advancement.

Blood Glucose Monitoring Devices Market in the United Kingdom

• Increasing awareness of blood glucose management in individuals is expected to drive the market in the region. Furthermore, a growing understanding of the link between blood glucose levels and chronic diseases is expected to create significant opportunities for the market in the forecast period.

Category-Wise Insights

Attributes	Details
By Product Type	Self-Monitoring Devices
Market Share in 2024	71.4%

• Self-monitoring devices are expected to present a growth at a CAGR rate of 4.5% by the end of the forecast period, with a market share of about 71.4% in the global market in 2022.
• Self-monitoring has simplified the process of using routine blood tests to evaluate diabetes control and notify of changes to improve control.
• Technology-enhanced self-monitoring is considered safe and effective at producing positive health results.

Attributes	Details
By Distribution Channel	Retail Pharmacy
Market Share in 2024	38.2%

• Retail pharmacies hold the greatest portion of the distribution channel segment with a market share of 38.2% in 2022, owing to the fact that retail pharmacies offer a variety of options for blood glucose monitoring devices.
• The retail pharmacies are easily accessible and hence preferred by consumers for the purchase of blood glucose monitoring devices.

Competitive Landscape

To meet consumer demand and expand their customer base, major players are concentrating on new product launches, regulatory approvals, acquisitions, improvements in current products & technologies, and other methods to increase their business portfolio & fortify their presence.

Recent developments

• In June 2022, Abbott announced the development of new bio-wearable to monitor ketone and glucose levels continuously in one sensor. The system has received the USA FDA breakthrough device designation.
• In November 2021, Intuity Medical announced the launch of the POGO Automatic Blood Glucose Monitoring System which is the first blood glucose monitor that performs automatic testing. This device automatically lances and collects blood to check the blood glucose level.

Similarly, recent developments related to companies manufacturing blood glucose monitoring device products have been tracked by the team at Future Market Insights, which are available in the full report.

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Brand Mapping Analysis
• 4. Distribution Channel Wise Key Brand Positioning
• 5. Consumer Buying Behavior Analysis
• 6. Market Trends & Dynamics
• 7. Value Added Insights
• 8. Market Background
• 9. Global Market Demand Analysis 2017 to 2022 and Forecast, 2023 to 2033
• 10. Global Market - Pricing Analysis
• 11. Global Market Demand (in Value or Size in USD million) Analysis 2017 to 2022 and Forecast, 2023 to 2033
• 12. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, by Product
  • 12.1. Self-monitoring device
  • 12.2. Continuous blood glucose monitoring devices
• 13. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Usage
  • 13.1. Non-invasive
  • 13.2. Invasive
• 14. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Modality
  • 14.1. Standalone
  • 14.2. Portable
• 15. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Indication
  • 15.1. Type 1
  • 15.2. Type 2
  • 15.3. Gestational Diabetes
• 16. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Distribution Channel
  • 16.1. Retail Pharmacy
  • 16.2. Hospital Pharmacy
  • 16.3. Diagnostic Centers
  • 16.4. Online Sales
• 17. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, by Region
  • 17.1. North America
  • 17.2. Latin America
  • 17.3. Europe
  • 17.4. South Asia
  • 17.5. East Asia
  • 17.6. Oceania
  • 17.7. Middle East & Africa
• 18. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 19. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 20. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 21. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 22. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 23. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 24. Middle East & Africa Market Analysis 2017 to 2022 and Forecast 2023 to 2033
• 25. Market Structure Analysis
• 26. Competition Analysis
  • 26.1. Abbott Laboratories
  • 26.2. ARKRAY, Inc.
  • 26.3. Bayer AG; Medtronic plc
  • 26.4. F. Hoffmann-La Roche Ltd.
  • 26.5. Johnson & Johnson
  • 26.6. Ascensia Diabetes Care
  • 26.7. Nipro Diagnostics, Inc.
  • 26.8. Dexcom, Inc.
  • 26.9. Sanofi
  • 26.10. Terumo Medical Corporation
  • 26.11. Novo Nordisk
  • 26.12. Ypsomed Holdings
  • 26.13. Prodigy Diabetes Care, LLC
  • 26.14. GlySens Incorporated
  • 26.15. ACON Laboratories
  • 26.16. Nova Biomedical
  • 26.17. Medtronic
  • 26.18. Dexcom, Inc.
  • 26.19. LifeScan IP Holdings, LLC
  • 26.20. Senseonics
• 27. Assumptions and Acronyms Used
• 28. Research Methodology