Blood Glucose Monitoring Devices Market By Glucose Monitoring System (Self-Monitoring Glucose Monitoring Device (Blood Glucose Meter, Blood Glucose Testing Strip, and Lancet), Continuous Glucose Monitoring Device, and Others), By End User (Hospital/Clinic, Diagnostic Labs, and Home Setting), and By Region - Trends, Analysis and Forecast till 2030

Blood Glucose Monitoring Devices Market accounted for USD 11.10 Billion in 2020 and is estimated to be USD 19.6 Billion by 2029 and is anticipated to register a CAGR of 6.6%.

Blood glucose monitoring is the process of testing the diabetes level within the blood. It helps to acknowledge the glucose level of blood within the required target range. Blood sugar monitoring devices provide useful insight to manage diabetes. It helps to trace the progress of treatment goal also as observe the effect of medication on blood glucose level and understand how ailment affects the glucose level within the blood.

Impact of Covid-19 pandemic on market

With the outbreak of the COVID-19, various businesses are at the forefront to combat this pandemic. The pandemic has hindered the industrial supply chain and also disrupted the product segment. Government across the countries has imposed strict lockdown to limit the spread of disease. COVID-19 would positively impact few home healthcare monitoring products such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. This report will quantify the impact of pandemic on blood glucose monitoring market.

Rising incidence of diabetes, coupled with increasing geriatric population prone to diabetes is the key factors to drive the market growth. According to the International Diabetes Federation, approximately 424 million people were living with diabetes in 2017 and this number is expected to reach 629 million by 2045. Increasing geriatric population is also propelling the market. According to the World Health Organization (WHO), the global aging population will rise from 12% in 2015 to 22% by 2050. This translates into significant development potential.

Technological advancements

The market has significantly benefited from continuous technological advancements and early detection of hypo and hyperglycemic diabetes. Rapidly changing lifestyles, such as smoking and consumption of alcohol and unhealthy foods, are contributing to the rise in the number of diabetes patients worldwide. Obesity is also one of the major factors contributing to diabetes. According to WHO, over 650 million people were obese in 2016 and this number is expected to grow further during the forecast period.

The global blood glucose monitoring market is segmented based on type, component, and region.

On the basis of type, the global blood glucose monitoring market is segmented into self-monitoring blood glucose, and continuous blood glucose monitoring. Based on component, the target market segmented into glucometer devices, test strips, lancets, sensors, and receivers.

Regional Insights: 

On region the global blood glucose monitoring market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has been leading the global market owing to its well-established healthcare sector. Increasing prevalence of obesity and high cost of treatment is also expected to drive the region, along with technological advancements and new product launches. Moreover, Europe is also expected to capture a significant market share over the forecast period, due to an increase in the geriatric population, which is prone to diabetes. Moreover, improvements in its healthcare sector and implementation of advanced medical products are augmenting demand for blood glucose monitoring devices in the region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global blood glucose monitoring market report based on type, component, and region.

Global Blood Glucose Monitoring Market, By Type:

• Self-Monitoring Blood Glucose
• Continuous Blood Glucose Monitoring

Global Blood Glucose Monitoring Market, By Component:

• Glucometer Devices
• Test Strips
• Lancets
• Sensors
• Receivers

Global Blood Glucose Monitoring Market, By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the global blood glucose monitoring market includes Abbott Laboratories, Arkay, Inc., Bayer Healthcare AG, F. Hoffmann-La Roche Ltd, Goldsite Diagnostics Inc., GlySure Ltd, Sphere Medical Holding plc., Dexcom, Inc., and LifeScan, Inc. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, in August 2016, Roche launched the Accu-Chek Guide blood glucose monitoring system. The device is designed to make daily glucose monitoring easy.

• Abbott Laboratories
• Arkay, Inc.
• Bayer Healthcare AG
• F. Hoffmann-La Roche Ltd
• Goldsite Diagnostics Inc.
• GlySure Ltd
• Sphere Medical Holding plc
• Dexcom, Inc.
• LifeScan, Inc.