BGM and CGM Market Report 2024 (Global Edition)

Global BGM and CGM Market Report 2024 Market Size Split by Type Outlook: (Continuous Glucose Monitoring (CGM), Blood Glucose Meter (BGM)), by Application Outlook: (Household, Hospital)

BGM and CGM Market Report Description

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Competitive Landscape of the BGM and CGM Market

The competitive landscape of the Blood Glucose Monitoring (BGM) and Continuous Glucose Monitoring (CGM) markets is characterized by major players like Dexcom, Abbott, and Medtronic. Innovations in technology, strategic partnerships, and regulatory advancements drive competition, with a focus on improving accuracy, user-friendliness, and data integration in diabetes management.

In February 2023, Ascensia Diabetes Care Holdings AG, the company behind the CONTOUR BGM system portfolio, teamed with SNAQ. This mobile application provides dietary insights for people with diabetes on a global scale. (Source: https://www.prnewswire.com/news-releases/ascensia-diabetes-care-collaborates-with-snaq-to-support-mealtime-decision-making-for-people-with-diabetes-301751098.html) In November 2021, The POGO automatic blood glucose monitoring system was introduced by Intuity Medical for diabetic patients in the United States. The introduction of this device enhances the quality of life for patients. (Source: https://www.mobihealthnews.com/news/intuity-medical-launches-pogo-glucose-monitoring-system)

Top Companies Market Share in BGM and CGM Industry: (In no particular order of Rank)

• Roche
• Lifescan
• Abbott
• Ascensia
• ARKRAY
• I-SENS
• Omron
• B. Braun
• 77 Elektronika
• AgaMatrix
• Terumo
• Sinocare
• Yicheng
• Yuwell
• Acon
• Dexcom
• Medtronic
• Senseonics Holdings
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the BGM and CGM Market

Which Region Dominates the BGM and CGM Market in 2024?

According to Cognitive Market Research, North America currently dominates the BGM and CGMs market, and the region is expected to have significant growth during the projected period. This is due to advanced healthcare infrastructure, the high prevalence of diabetes, and the strong adoption of innovative monitoring technologies. The region's focus on diabetes management drives significant investment and development in these technologies.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). This growth is driven by rising diabetes prevalence, increasing health awareness, and advancements in glucose monitoring technology, fostering greater accessibility and adoption.

The current report Scope analyzes BGM and CGM Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America BGM and CGM

According to Cognitive Market Research, the global BGM and CGM market size was estimated at USD 22514.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 9005.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.7% from 2024 to 2031.

• According to Cognitive Market Research, the U.S. had a major share in the BGM and CGM market with a market size of USD 7105.58 million in 2024 and is projected to grow at a CAGR of 15.5% during the forecast period. The U.S. market's Stringent governmental regulations against plastic pollution.
• The Canada BGM and CGM market had a market share of USD 1080.70 million in 2024 and is projected to grow at a CAGR of 16.5% during the forecast period. Canada’s rising awareness among the population.
• The Mexico BGM and CGM market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD 819.53 million in 2024.

Europe BGM and CGM

According to Cognitive Market Research, the global BGM and CGM market size was estimated at USD 22514.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 6754.35 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.0% from 2024 to 2031.

• The United Kingdom BGM and CGM market had a market share of USD 1134.73 million in 2024 and is projected to grow at a CAGR of 16.8% during the forecast period. In the U.K., BGM and CGM sales witness an upswing due to the increasing focus on environmental sustainability.
• The France BGM and CGM market is projected to witness growth at a CAGR of 15.2% during the forecast period, with a market size of USD 621.40 million in 2024.
• According to Cognitive Market Research, the German BGM and CGM market size was valued at USD 1337.36 million in 2024 and is projected to grow at a CAGR of 16.2% during the forecast period. In Germany, BGM and CGM surged due to the Increased focus of the manufacturers and major market players.
• The Italy BGM and CGM market is projected to witness growth at a CAGR of 15.4% during the forecast period, with a market size of USD 580.87 million in 2024.
• The Russia BGM and CGM market is projected to witness growth at a CAGR of 15.0% during the forecast period, with a market size of USD 1046.92 million in 2024.
• The Spain BGM and CGM market is projected to witness growth at a CAGR of 15.1% during the forecast period with a market size of USD 553.86 million in 2024
• The Luxembourg BGM and CGM market is projected to witness growth at a CAGR of 16.1% during the forecast period, with a market size of USD 209.38 million in 2024.
• The Portugal BGM and CGM market is projected to witness growth at a CAGR of 15.8% during the forecast period, with a market size of USD 141.84 million in 2024.
• The Greece BGM and CGM market is projected to witness growth at a CAGR of 16.3% during the forecast period, with a market size of USD 81.05 million in 2024.
• The Rest of Europe's BGM and CGM market is projected to witness growth at a CAGR of 14.7% during the forecast period, with a market size of USD 1046.92 million in 2024.

Asia Pacific BGM and CGM

According to Cognitive Market Research, the global BGM and CGM market size was estimated at USD 22514.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 5178.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.5% from 2024 to 2031.

• According to Cognitive Market Research, the China BGM and CGM market size was valued at USD 2330.25 million in 2024 and is projected to grow at a CAGR of 19.0% during the forecast period. BGM and CGM surged in China due to the Increased focus of the manufacturers and major market players.
• The Japan BGM and CGM market is projected to witness growth at a CAGR of 18.0% during the forecast period, with a market size of USD 714.61 million in 2024.
• The India BGM and CGM market had a market share of USD 621.40 million in 2024 and is projected to grow at a CAGR of 21.3% during the forecast period. India's rising awareness among the populations .
• The South Korean BGM and CGM market is projected to witness growth at a CAGR of 18.6% during the forecast period, with a market size of USD 517.83 million in 2024.
• The Australian BGM and CGM market is projected to witness growth at a CAGR of 19.2% during the forecast period, with a market size of USD 269.27 million in 2024.
• The South East Asia BGM and CGM market is projected to witness growth at a CAGR of 20.5% during the forecast period, with a market size of USD 357.31 million in 2024.
• The Rest of Asia Pacific BGM and CGM market is projected to witness growth at a CAGR of 19.3% during the forecast period, with a market size of USD 367.66 million in 2024.

South America BGM and CGM

According to Cognitive Market Research, the global BGM and CGM market size was estimated at USD 22514.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 1125.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil BGM and CGM market size was valued at USD 481.81 million in 2024 and is projected to grow at a CAGR of 17.5% during the forecast period. BGM and CGMs flourished in Brazil due to increasing demand for packaged food and beverages.
• Argentina's BGM and CGM market had a market share of USD 189.12 million in 2024 and is projected to grow at a CAGR of 17.8% during the forecast period. Argentina's rising personal disposable income .
• Colombia's BGM and CGM market is projected to witness growth at a CAGR of 16.7% during the forecast period, with a market size of USD 100.19 million in 2024.
• Peru's BGM and CGM market is projected to witness growth at a CAGR of 17.1% during the forecast period, with a market size of USD 92.31 million in 2024.
• Chile's BGM and CGM market is projected to witness growth at a CAGR of 17.2% during the forecast period, with a market size of USD 81.05 million in 2024.
• The Rest of Latin America's BGM and CGM market is projected to witness growth at a CAGR of 16.0% during the forecast period, with a market size of USD 181.24 million in 2024.

Middle East and Africa BGM and CGM

According to Cognitive Market Research, the global BGM and CGM market size was estimated at USD 22514.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 450.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.2% from 2024 to 2031..

• The GCC Countries BGM and CGM market is projected to witness growth at a CAGR of 18.0% during the forecast period, with a market size of USD 192.72 million in 2024. BGM and CGM sales flourish due to the presence of major market players.
• The Egypt BGM and CGM market is projected to witness growth at a CAGR of 17.5% during the forecast period, with a market size of USD 47.28 million in 2024.
• The South Africa BGM and CGM market is projected to witness growth at a CAGR of 18.2% during the forecast period, with a market size of USD 71.15 million in 2024. BGM and CGM sales flourished in South Africa due to increasing demand and regulatory support.
• The Turkey BGM and CGM market is projected to witness growth at a CAGR of 16.7% during the forecast period, with a market size of USD 38.72 million in 2024.
• The Nigeria BGM and CGM market is projected to witness growth at a CAGR of 16.3% during the forecast period, with a market size of USD 47.28 million in 2024.
• The Rest of the MEA BGM and CGM market is projected to witness growth at a CAGR of 16.2% during the forecast period, with a market size of USD 53.13 million in 2024.

BGM and CGM Market Analysis

How are Segments Performing in the Global BGM and CGM Market?

BGM and CGM Market Type Segment Analysis

According to Cognitive Market Research, Continuous Glucose Monitoring (CGM) is rapidly dominating the Blood Glucose Monitoring (BGM) and CGM market due to its ability to provide real-time glucose data, enhancing diabetes management. CGM devices enable users to monitor their glucose levels continuously, reducing the need for frequent fingerstick tests. The convenience and accuracy of CGM technology empower patients to make informed decisions about their diet and insulin use, driving widespread adoption. Moreover, advancements in CGM technology are improving user experience and accessibility, further boosting market growth.

The Blood Glucose Meter (BGM) market is experiencing rapid growth due to advancements in technology, increased diabetes prevalence, and the demand for self-monitoring solutions. Innovative features like Bluetooth connectivity, smartphone integration, and user-friendly designs enhance convenience and data tracking. Additionally, the rise of point-of-care testing and the need for accurate, real-time glucose monitoring in managing diabetes further drive the BGM market's expansion. As awareness of diabetes management increases, BGM adoption continues to dominate the fastest-growing segment alongside Continuous Glucose Monitoring (CGM) systems.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of BGM and CGM Industry. Request a Free Sample PDF!

BGM and CGM Market Application Segment Analysis

According to Cognitive Market Research, Households dominate the largest Blood Glucose Monitoring (BGM) and Continuous Glucose Monitoring (CGM) market due to the increasing prevalence of diabetes and health awareness. The growing focus on preventive healthcare drives demand for user-friendly and accurate monitoring devices. Households prioritize convenience, favoring CGM systems that offer real-time data and ease of use. Additionally, technological advancements in mobile health apps and smart devices enhance patient engagement, making BGM and CGM integral for effective diabetes management within households.

In the BGM and CGM markets, Hospitals dominate the fastest-growing Blood Glucose Monitoring (BGM) and Continuous Glucose Monitoring (CGM) market due to the increasing prevalence of diabetes and the need for effective management solutions. Enhanced patient care, technology integration, and the demand for real-time glucose data drive hospital adoption of advanced monitoring systems. Additionally, partnerships with healthcare technology companies facilitate access to cutting-edge devices, further positioning hospitals as leaders in providing comprehensive diabetes care and improving patient outcomes.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Anushka Gore

Research Associate at Cognitive Market Research

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Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.

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