Global Blood Glucose Monitoring System
Market Report
2024
Blood Glucose Monitoring System Market was valued at USD 12.5 Billion in 2022 and will reach USD 23.8 billion by 2030, registering a CAGR of 8.4% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The Global Blood Glucose Monitoring System Market was valued at USD 12.5 Billion in 2022 and will reach USD 23.8 billion by 2030, registering a CAGR of 8.4% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Blood Glucose Monitoring System Market Sales Revenue 2022 | $ 12.5 Billion |
Global Blood Glucose Monitoring System Market Sales Revenue 2030 | $ 23.8 Billion |
Global Blood Glucose Monitoring System Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.4% |
Market Split by Product |
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Market Split by End user |
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Market Split by Distribution channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Blood Glucose Monitoring System Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A growing number of ailments include diabetes. (BGMS) is a blood glucose monitoring system device used to measure the glucose level in blood Individuals with diabetes commonly use it to monitor on a regular basis It includes different medical devices such as glucose meters, test strips, lancets devices, and lancet needles, Blood glucose monitoring system enables therapy modifications, and safeguards patients by quickly identifying acute hypoglycemia or hyperglycemia, Blood glucose monitoring market is increasing with the launch of different innovative techniques, for example, Roche announces the launch of a new Accu-check system in 2021. which makes Roche's integrated Personalized Diabetes Management (iPDM) strategy possible. The ultimate goal of iPDM, a comprehensive, patient-centered treatment strategy, is to personalize diabetes management in order to improve clinical outcomes and streamline care.
The global prevalence of diabetes is on the rise, driven by factors such as sedentary lifestyles, unhealthy diets, and obesity. Blood glucose monitoring systems are essential for managing diabetes effectively, creating a significant demand for these devices. The prevalence of diabetes in India has risen from 7.1% in 2009 to 8.9% in 2019. Currently, 25.2 million adults are estimated to have IGT,(Impaired Glucose tolerance) which is estimated to increase to 35.7 million in the year 2045.
The elderly population is more susceptible to diabetes and related complications. As the world's population ages, the demand for blood glucose monitoring systems is expected to increase, as these devices help monitor and manage glucose levels in older adults. Interferons α and β, help in transforming growth factor β. With aging, there is a decline in preadipocyte replication and an expansion of senescent cells in adipose tissue which enhance lipotoxicity and favor the generation of a pro-inflammatory status.
Advanced blood glucose monitoring systems have been created as a result of technological breakthroughs. These new devices enable users to track their glucose levels more successfully by providing enhanced accuracy, usability, and connectivity features. Healthcare professionals and patients are drawn to technological developments, which promote market expansion.
Different locations have distinct blood glucose monitoring system reimbursement procedures. These devices are more widely available to patients in several nations because of public and private insurance coverage. Additionally, customers can feel confident using these gadgets because of a supportive regulatory framework with strict quality standards and norms.
The glucose monitor is an expensive and uncomfortable device. The outcomes of diabetic care devices are frequently not precise numerous times A growing issue is insurance coverage or requirements for coverage. The market is hampered by a number of issues related to glucose monitoring devices. Moreover, it also gets hindered by side effects from glucose monitoring devices, including disruptive warnings, and lost signals, resulting in data gaps, skin irritability, and adhesion problems.
The International Diabetes Federation estimates that there were 537 million individuals living with diabetes worldwide and that figure would rise to 783 million The development of innovative technologies, such as continuous blood glucose monitoring (CGM) System market players, has made it possible for individuals who depend on insulin to have real-time monitoring capabilities. Additionally, CGM systems provide a number of benefits over self-monitoring blood glucose (SMBG) systems. With these devices, results can be achieved quickly and precisely.
The deadly disease COVID-19 unexpectedly devastated all industries. Every economic sector has been adversely affected by the pandemic, with the exception of the pharmaceutical sector. Due to COVID-19, the need for glucose monitoring equipment has greatly increased. Diabetes patients are negatively impacted by COVID-19, thus people must take care of themselves when staying at home. The prevalence of COVID-19 among diabetic patients has a considerable positive impact on glucose-monitoring device sales. A glucose monitoring device aids in continuous glucose level monitoring and transmits the information to the healthcare professional so they do not need to get in touch with the patient directly. They have been able to effectively treat COVID-19 patients owing to this component. Due to the COVID-19 outbreak, there is a rise in demand for these devices globally.
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Abbott Announces the Future of Bio-wearables:
Biowearables are being developed to help individuals track and measure their overall health and wellness by converting their body's unique language into useful data. The sensor technology is being developed to monitor vital bodily signals like glucose, ketones, and lactate. It may potentially be used in the future to monitor alcohol consumption.
Lilly and Roche collaborate together to support people with diabetes using insulin pen therapy.
In order to improve the administration of insulin pen therapy, Roche entered into a collaboration agreement with Eliy-Lilly and Company, a global leader in diabetes care that offers cutting-edge solutions comprising medications and technologies. In accordance with the conditions of the collaboration agreement, in a number of non-U.S. countries, data from Lilly's linked insulin pen solution will be integrated into Roche's open ecosystem through the mySugr app. Following the recent availability of the Novo Nordisk smart insulin pen data integration into the mySugr app.
Top Companies Market Share in Blood Glucose Monitoring System Industry: (In no particular order of Rank)
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Globally, the Blood glucose monitoring system market on the basis of region is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America led the market revenue share. owing to its well-established healthcare sector. The increasing prevalence of obesity and the high cost of treatment, technological advancement, and new product launches are also expected to drive the market. Europe is expected to capture a significant revenue share over the forecast period due to the increasing in geriatric population, which is prone to diabetics Moreover improvements in the healthcare sector and the implementation of advanced medical products are augmenting the demand in the region
Asia-Pacific is expected to grow the glucose monitoring devices market during the forecast period due to the growing demand for minimally invasive surgeries and huge growth in the advanced healthcare infrastructure. Also, growing research activities on endoscopic cameras, mainly in Japan within this region, boost the market growth.
The current report Scope analyzes Blood Glucose Monitoring System 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
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Global Blood Glucose Monitoring System Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Blood Glucose Monitoring System Industry growth. Blood Glucose Monitoring System market has been segmented with the help of its Product , End user Distribution channel, and others. Blood Glucose Monitoring System market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Self-monitoring blood glucose devices accounted for the largest revenue share
Based on product type the global market is segmented by Glucose strips, Glucose meters, lancets continuous Glucose monitoring devices. The self-monitoring devices will dominate the market in 2022 and are anticipated to retain their dominance in the coming years due to ease use and low cost. SMBG is considered an essential element in the management of diabetes. Self-monitoring of blood sugar is a technique in which users of glucose meters check their own blood sugar levels. Testing strips, lancets, and blood glucose meters are the sub-segments that are used to check blood glucose. Over the forecast period, the segment is anticipated to grow at a profitable CAGR. For type 1 diabetes patients, who are particularly susceptible to severe and potentially fatal hypoglycemia, SMBG is a crucial diabetes treatment tool. As they provide continuous and real-time blood sugar readings, these devices aid in the analysis of glucose level patterns.
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 Blood Glucose Monitoring System Industry. Request a Free Sample PDF!
Augmentation of the hospital segmentation market in 2022
Based on end users the global market is segmented by clinics, diagnosis centers, hospitals, and home healthcare. The hospital sector had the highest revenue share , and it is expected that it will continue to dominate the market during the projection period as a result of expanding infrastructure and rising healthcare costs in hospitals. Additionally, BGM devices are increasingly being used in outpatient and inpatient hospital settings due to the accurate data they deliver to practitioners in a matter of seconds and the improvement in patient's quality of life. Hospitals have additional systems in place to transfer and store patient data.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Blood Glucose Monitoring System market report 2024 Edition by contacting our team.
Rising preference for E-Pharmacies to accelerate online sales in blood glucose monitoring devices
Based on distribution channels the global market is segmented by Retail, drug stores, pharmacies, specialty stores, and online channels self-monitoring blood glucose device market share from online sales is expected to register a 10.5% CAGR. The rapid penetration of smartphones and growing youth has provided robust internet access across urban and rural areas. expanding the scope of e-commerce worldwide. The emergence of COVID-19 has also played a key role in spurring the demand for e-pharmacies across developed and developing economies. Moreover, online drug stores have gained substantial momentum in the last few years owing to the convenience, accessibility, and affordability offered by these e-commerce platforms. The rapid foray of several e-commerce giants, such as Amazon into healthcare centres, Visual Dx, and Medscape are some of the different applications which are mostly used.
Research Associate at Cognitive Market Research
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.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Blood Glucose Monitoring System Market is witnessing significant growth in the near future.
In 2023, the Glucose strips segment accounted for noticeable share of global Blood Glucose Monitoring System Market and is projected to experience significant growth in the near future.
The Clinics segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies DiaMonTech AG , Glysens incorporated and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product | Glucose strips, Glucose meters, lancets, Glucose monitoring devices |
End user | Clinics, Diagnosis centers, Hospitals, Home healthcare |
Distribution channel | Retail, Drug stores, Pharmacies, Specialty stores, Online channels |
List of Competitors | DiaMonTech AG, Abbot, Glysens incorporated, Nemaura, PHC Holdings, TaiDoc Technology Corporation, Novo Nordisk A/S |
This chapter will help you gain GLOBAL Market Analysis of Blood Glucose Monitoring System. Further deep in this chapter, you will be able to review Global Blood Glucose Monitoring System Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Blood Glucose Monitoring System Market Trends North America Blood Glucose Monitoring System Technological Road Map North America Blood Glucose Monitoring System Market Drivers North America Blood Glucose Monitoring System Market Restraints North America Blood Glucose Monitoring System Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
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Chapter 11 Market Split by End user Analysis 2019 -2031
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Chapter 12 Market Split by Distribution channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Blood Glucose Monitoring System market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Glucose strips have a significant impact on Blood Glucose Monitoring System market? |
What are the key factors affecting the Glucose strips and Glucose meters of Blood Glucose Monitoring System Market? |
What is the CAGR/Growth Rate of Clinics during the forecast period? |
By type, which segment accounted for largest share of the global Blood Glucose Monitoring System Market? |
Which region is expected to dominate the global Blood Glucose Monitoring System Market within the forecast period? |
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