Blood Glucose Monitoring Devices Market registered a revenue of USD 11.9 billion in 2021 and is projected to reach USD 21.1 billion in 2029, growing at a CAGR 7.4% during the forecast period, owing to the growing awareness among patients regarding the blood sugar monitoring devices.

Source: GMI Research

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Key Drivers

The demand of the global blood glucose monitoring devices market is likely to expand with the increasing diabetes patients at the global level. The drastic rise in geriatric population prone to diabetes is the biggest contributor to the growing number of diabetes cases. According to the World Health Organization (WHO), the global aging population will represent a sharp growth from 12% in 2015, reaching to 22% by 2050. Simultaneously, the surge in the sedentary lifestyle pattern, followed by the unhealthy habits, such as smoking and consumption of alcohol and unhealthy food products, is directly leading to an increase in the incidences of diabetes worldwide. In addition, rapid growth in geriatric population and continuous advancement in blood glucose monitoring device are major driving factors of the market.

The leading manufacturers in the market are mainly focusing on technological development in the blood glucose monitoring devices to capture the largest market share. The easy availability of reimbursement for self-monitoring of blood glucose (SMBG) and the rising emphasis of the diabetes patients to regularly monitoring their glucose level, is promoting them to opt for advanced monitoring devices. The recent advancement in the monitoring systems has made the monitoring process easier, convenient, and less expensive. Blood glucose monitoring devices are widely used in the diagnosis and treatment of diabetes and monitoring blood glucose. Surging adoption of these devices to treat diabetes is likely to augment the blood glucose monitoring devices market, globally. However, inadequate reimbursement and high cost associated with the application of CGM systems and product recalls are some of the key factors hampering the growth of this market.

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End-use Segment Analysis

The hospital end-use segment is expected to dominate the market over the forecast period, because of the enhancement in infrastructure. A significant surge in the healthcare expenditure across hospitals will strengthen the market growth. Moreover, the BGM data offers practitioners with a reliable data at a higher-speed and improves patients’ quality of life have augmented their adoption in the outpatient and inpatient hospital settings, which is projected to propel the segment’s growth. The advent of sophisticated devices with remote monitoring features has inclined professionals towards personal blood glucose monitoring devices in hospitals and clinics, driving the market growth. Moreover, the advancements in point-of-care glucose monitoring technology have helped professionals treat patients in a short period, reducing the turnaround time for diagnosis, which is estimated to offer enormous opportunities to the market.

Product Type Segment Analysis

Blood glucose monitors product is estimated to hold a higher CAGR over the upcoming years. The segment is further bifurcated in the single point blood glucose meters and continuous blood glucose monitoring (CBGM) systems. Amongst which, continuous blood glucose monitoring (CBGM) systems is forecast to witness a fastest growth over the upcoming years, owing to the growing use of CBGM as a diabetes care tool for patients to treat patients with type 1 diabetes as these devices help to interpret the glucose level pattern as it offers continuous and real-time blood sugar reading in every five minutes. The continuous blood glucose monitoring (CBGM) systems is further sub-segmented into sensors, insulin pumps, and transmitter and receiver. This sensor is used to measures sugar level and the transmitter helps in sending the information to a monitor.

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Figure 2: Global Blood Glucose Monitoring Devices Market Revenue, by Region, 2017

Source: GMI Research

Regional Insights

North America is expected to forecast to lead the market over the upcoming years, because of the rising incidences of diabetes and increasing adoption of technologically advanced medical devices. The well-developed healthcare sector, rising incidence of obesity, high treatment cost, and new product innovation are also expected to drive the regional market. According to the data published by the International Diabetes Federation, around 32.2 million people in the U.S. suffered from diabetes in 2021.

Europe is projected to hold a higher CAGR over the forecast period, owing to the accelerating geriatric population. Moreover, the proliferation in the healthcare sector and the implementation of advanced medical products has augmented the demand for BGM systems, driving the market growth. Moreover, growing awareness among people regarding diabetes management and increasing demand for blood glucose monitoring systems to continuously supervise patients at home are expected to expand the market growth. For Instance, in December 2020, Nemaura, a U.K.-based company, launched ProBEAT, a non-invasive glucose monitoring patch to provide users with feedback and insights into factors that affect blood glucose levels.

Various notable players operating in global blood glucose monitoring devices market include Abbott Laboratories, ARKRAY, Inc, F. Hoffmann-La Roche Ltd, Terumo Corporation, Nipro Diagnostics, Medtronic, Becton, Dickinson and Company, Dexcom, Inc., Sanofi, among others.

Key Developments:

• • In 2022, Abbott declared the development of new bio-wearable that will continuously supervise the glucose and ketone levels in one sensor. The system has secured breakthrough device designation from the U.S. Food and Drug Administration, which is designed to expedite the review of innovative technologies that can improve the lives of people with life-threatening or irreversibly debilitating diseases or conditions.
  • In March 2022, DexCom announced the receipt of CE Mark for its G7 CGM system in Europe, intended for people who have diabetes and are two years and older, including pregnant women. With this approval, the highly popular and best-selling real-time CGM in the world is now more powerful and easier to use with a small, all-in-one wearable and completely redesigned mobile app.
  • March 2021 – F. Hoffmann-La Roche Ltd. launched the Accu-Chek Instant system to connect directly with the mySugr app and provide real-time blood glucose level data.
  • February 2021 – Ascensia Diabetes Care Holdings AG took over the distribution of EVERSENSE XL of Senseonics, Inc., in Germany, Switzerland, Italy, Spain, Netherlands, and Poland, intending to fulfill the demand from customers in the European market.

Segments covered in the Report:

The global blood glucose monitoring devices market has been segmented on the basis of product type, end user and key regions. Based on the product type, the market comprises of Blood Glucose Monitoring, Glucose Monitoring Strips and Lancets. The end user segment includes Hospitals and Clinics, Diagnostic Centers and Home Settings.

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Key questions answered in this research report:

• • At what pace is global Blood glucose monitoring devices market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Blood glucose monitoring devices market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Blood glucose monitoring devices market?
  • Which product type generated maximum revenues in 2021 and identify the most promising product type during the forecast period?
  • What are the various end users of global Blood glucose monitoring devices market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2019)	USD 11.9 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product Type, By End User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Abbott Laboratories, ARKRAY, Inc, F. Hoffmann-La Roche Ltd, Terumo Corporation, Nipro Diagnostics, Medtronic, Becton, Dickinson and Company, Dexcom, Inc., Sanof., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Blood Glucose Monitoring Devices Market by Product Type

• • Blood Glucose Monitors
    • Single Point Blood Glucose Meters
    • Continuous Glucose Monitoring Systems
      • Sensors
      • Transmitter and Receivers
      • External Monitor
  • Glucose Monitoring Strips
  • Lancets

Global Blood Glucose Monitoring Devices Market by End User

• • Hospitals and Clinics
  • Diagnostic Centers
  • Home Settings

Global Blood Glucose Monitoring Devices Market by Region

• • North America Blood Glucose Monitoring Devices Market (Option 1: As a part of the free 25% customization)

• • • North America Blood Glucose Monitoring Devices Market by Product Type
    • North America Blood Glucose Monitoring Devices Market by End User
    • United States of America (US) Blood Glucose Monitoring Devices Market All-Up
    • Canada Blood Glucose Monitoring Devices Market All-Up

• • Europe Blood Glucose Monitoring Devices Market (Option 2: As a part of the free 25% customization)

• • • Europe Blood Glucose Monitoring Devices Market by Product Type
    • Europe Blood Glucose Monitoring Devices Market by End User
    • United Kingdom (UK) Blood Glucose Monitoring Devices Market All-Up
    • Germany All-Up Blood Glucose Monitoring Devices Market All-Up
    • France Blood Glucose Monitoring Devices Market All-Up
    • Spain Blood Glucose Monitoring Devices Market All-Up
    • Rest of Europe Blood Glucose Monitoring Devices Market All-Up

• • Asia-Pacific Blood Glucose Monitoring Devices Market (Option 3: As a part of the free 25% customization)

• • • Asia-Pacific Blood Glucose Monitoring Devices Market by Product Type
    • Asia-Pacific Blood Glucose Monitoring Devices Market by End User
    • China Blood Glucose Monitoring Devices Market All-Up
    • India Blood Glucose Monitoring Devices Market All-Up
    • Japan Blood Glucose Monitoring Devices Market All-Up
    • Rest of APAC Blood Glucose Monitoring Devices Market All-Up

• • RoW Blood Glucose Monitoring Devices Market (Option 4: As a part of the free 25% customization)

• • • RoW Blood Glucose Monitoring Devices Market by Product Type
    • RoW Blood Glucose Monitoring Devices Market by End User
    • Brazil Blood Glucose Monitoring Devices Market All-Up
    • South Africa Blood Glucose Monitoring Devices Market All-Up
    • Saudi Arabia Blood Glucose Monitoring Devices Market All-Up
    • UAE Blood Glucose Monitoring Devices Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Blood Glucose Monitoring Devices Market All-Up

Major Players Operating the Blood Glucose Monitoring Devices (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Abbott Laboratories
  • ARKRAY, Inc.
  • F. Hoffmann-La Roche Ltd
  • Terumo Corporation
  • Nipro Diagnostics
  • Medtronic
  • Becton
  • Dickinson and Company
  • Dexcom, Inc.
  • Sanofi