According to the GMI Research’s latest report, the global blood glucose monitoring devices market accounted for USD 11,989.9 million in 2017 and is predicted to touch USD 18,522.7 million by the end of 2025, growing at a robust CAGR of 5.6% during 2018–2025. 

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Figure 1: Global Blood Glucose Monitoring Devices Market Revenue, 2018–2025 (USD Million)

Source: GMI Research

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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.

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.

Diabetes is a global concern and socioeconomic issue that affects several million people each year. 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. In addition, rapid growth in geriatric population and continuous advancement in blood glucose monitoring device are major driving factors of the market.

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

Source: GMI Research

The emergence of the COVID-19 is positively influencing the demand of the market. The strict lockdown and the increasing emphasis on staying at homes are encouraging diabetes patients to opt for self-monitoring blood glucose devices for daily check-ups. Various self-monitoring blood glucose devices, such as test strips, lancets, and blood glucose meters, can easily monitor the blood glucose level of the patient. The blood glucose test strip represents the strongest demand in the market, followed by glucose meters derived from the increasing preference of the patient’s to use test strips instead of other monitoring devices.

Diabetes is a global concern and socioeconomic issue that affects millions of people every year around the world. The blood glucose monitoring devices are widely used in diagnosis process of the diabetes’ patient. The Asia-Pacific region illustrates abundant growth opportunities derived from the reimbursement facilities and the widespread presence of the top leading players of the market across the Asian countries. The continuous improvement in the healthcare sector due to the massive funding raised by governments and private organizations is indirectly complementing the growing demand of the market in this region. On the other end of the spectrum, the high cost associated with the application of continuous glucose monitoring devices and inadequate reimbursement facilities in few developing and underdeveloped economies are hampering the market growth.

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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.

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.

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 2017 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 Base Year	2017
Market Forecast Period	2018-2025
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
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