Blood Glucose Monitoring Systems Market
Blood Glucose Monitoring Systems Market Forecasts to 2030 - Global Analysis By Product Type (Self-Monitoring Blood Glucose Systems and Continuous Glucose Monitoring Systems), Technology (Invasive Blood Glucose Monitoring and Non-Invasive Blood Glucose Monitoring), Application (Type 1 Diabetes, Type 2 Diabetes and Gestational Diabetes), Distribution Channel, End User and By Geography
According to Stratistics MRC, the Global Blood Glucose Monitoring Systems Market is accounted for $18.02 billion in 2024 and is expected to reach $26.74 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Blood glucose monitoring systems are medical devices designed to measure and monitor the blood glucose levels of individuals with diabetes. These systems typically include glucose meters, testing strips, and lancets for self-testing, as well as continuous glucose monitoring systems that provide real-time glucose readings. Accurate monitoring helps diabetic patients manage their condition by facilitating timely adjustments to medication, diet, and lifestyle.
According to the estimations of the International Diabetes Federation (IDF), in 2021, around 537 million adults had diabetes and it is projected to reach around 783 million by 2045.
Market Dynamics:
Driver:
Rising prevalence of diabetes
The increasing global prevalence of diabetes is a major driver for the blood glucose monitoring systems market. As the number of people diagnosed with diabetes continues to rise, the demand for effective glucose monitoring solutions grows. Regular blood glucose monitoring is crucial for diabetes management, enabling patients to track their glucose levels, make informed decisions about their diet, exercise, and medication, and prevent complications. The rising diabetes burden, coupled with growing awareness about the importance of glucose control, is fueling the adoption of advanced blood glucose monitoring systems.
Restraint:
High cost of devices
These sophisticated devices often come with a premium price tag, which may limit their accessibility and adoption, especially in price-sensitive markets and among patients with limited financial resources. The ongoing expenses related to consumables, such as test strips and sensors, further add to the cost burden. The high upfront costs and recurring expenses may deter some patients and healthcare providers from embracing advanced glucose monitoring technologies, thus hindering market expansion.
Opportunity:
Expansion of home healthcare
With the increasing preference for remote monitoring and self-management of chronic conditions like diabetes, there is a rising demand for user-friendly and connected glucose monitoring devices that can be easily used at home. The integration of blood glucose monitoring systems with telemedicine platforms and mobile health applications enables patients to share their glucose data with healthcare providers in real-time, facilitating remote consultations and personalized treatment adjustments. The expansion of home healthcare services and the adoption of digital health technologies are expected to drive the uptake of advanced blood glucose monitoring systems.
Threat:
Product counterfeiting
Counterfeit devices, test strips, and sensors can compromise patient safety and lead to inaccurate glucose readings, potentially resulting in improper treatment decisions and adverse health outcomes. Counterfeit products may lack the necessary quality control and regulatory approvals, and their use can erode patient trust in legitimate blood glucose monitoring systems. Manufacturers face the challenge of protecting their intellectual property and ensuring the authenticity of their products in the face of counterfeit threats.
Covid-19 Impact:
The Covid-19 pandemic has highlighted the importance of remote monitoring and self-management of diabetes. With lockdowns and reduced access to healthcare facilities, many patients have relied on home-based glucose monitoring to manage their condition. The pandemic has accelerated the adoption of telemedicine and remote monitoring solutions, including connected blood glucose monitoring systems. However, the pandemic has also disrupted supply chains and led to delays in product launches and regulatory approvals, temporarily affecting market growth.
The self-monitoring blood glucose systems segment is expected to be the largest during the forecast period
The self-monitoring blood glucose systems segment is expected to dominate the market during the forecast period. The widespread availability, ease of use, and affordability of these systems contribute to their large market share. These devices enable patients to conveniently check their blood glucose levels at home or on the go, empowering them to make timely decisions about their diabetes management. The established reimbursement policies for self-monitoring blood glucose systems in many countries and the familiarity of patients and healthcare providers with these devices further support their dominant position in the market.
The gestational diabetes segment is expected to have the highest CAGR during the forecast period
The Gestational diabetes, which occurs during pregnancy, is expected to be the fastest-growing segment in the blood glucose monitoring systems market. The increasing prevalence of gestational diabetes worldwide, driven by factors such as rising maternal age, obesity, and sedentary lifestyles, is fueling the demand for effective glucose monitoring solutions in this patient population. Additionally, growing awareness about the importance of early diagnosis and management of gestational diabetes is expected to drive the rapid growth of this segment.
Region with largest share:
North America is expected to hold the largest share of the blood glucose monitoring systems market. The high prevalence of diabetes, well-established healthcare infrastructure, and favorable reimbursement policies for glucose monitoring devices contribute to the region's dominant position. The presence of key market players, advanced technological capabilities, and a strong emphasis on diabetes management further support market growth in North America.
Region with highest CAGR:
The Asia Pacific region is projected to experience the highest growth rate in the blood glucose monitoring systems market during the forecast period. The region's large and growing diabetes population, driven by factors such as rapid urbanization, changing lifestyles, and increasing obesity rates, presents a significant market opportunity. Countries like China and India, with their vast patient pools and improving healthcare infrastructure, are expected to be major contributors to market growth.
Key players in the market
Some of the key players in Blood Glucose Monitoring Systems Market include Roche Diagnostics, Abbott Laboratories, Medtronic plc, Dexcom, Inc., Ascensia Diabetes Care, Johnson & Johnson, B. Braun Melsungen AG, ARKRAY, Inc., Terumo Corporation, Ypsomed Holding AG, Nipro Corporation, Sanofi, Nova Biomedical, Trividia Health, Inc., AgaMatrix, Inc., Echo Therapeutics, Inc., GlySens Incorporated, i-SENS, Inc., Bionime Corporation and DarioHealth Corp.
Key Developments:
In October 2023, Terumo Corporation announced that it has agreed with U.S.-based Dexcom, Inc (Dexcom) to cease the distribution agreement for Dexcom's Continuous Glucose Monitoring Systems (CGM) in Japan. This decision was made in accordance with Dexcom's change in marketing strategy to shift from indirect distribution to direct sales in certain key markets, excluding the U.S.
In April 2023, Dexcom announced that the FDA cleared Stelo by Dexcom, the first glucose biosensor that doesn't require a prescription, making it easier for people with Type 2 diabetes not using insulin to access leading CGM technology.
In May 2022, Abbott announced the U.S. Food and Drug Administration (FDA) cleared its next-generation FreeStyle Libre 3 system for use by people four years and older6 living with diabetes. ""The FreeStyle Libre 3 system is a direct result of listening to our customers – and giving them the innovation and sensing technology they've been looking for,"" said Jared Watkin, senior vice president of Abbott's diabetes care business.
Product Types Covered:
• Self-Monitoring Blood Glucose Systems
• Continuous Glucose Monitoring Systems
Technologies Covered:
• Invasive Blood Glucose Monitoring
• Non-Invasive Blood Glucose Monitoring
Applications Covered:
• Type 1 Diabetes
• Type 2 Diabetes
• Gestational Diabetes
Distribution Channels Covered:
• Retail Pharmacies
• Hospital Pharmacies
• Online Pharmacies
End Users Covered:
• Hospitals and Clinics
• Home Care Settings
• Diagnostic Centers
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 Application Analysis
3.9 End User Analysis
3.10 Emerging Markets
3.11 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Blood Glucose Monitoring Systems Market, By Product Type
5.1 Introduction
5.2 Self-Monitoring Blood Glucose Systems
5.2.1 Blood Glucose Meters
5.2.2 Blood Glucose Test Strips
5.2.3 Lancets and Lancing Devices
5.3 Continuous Glucose Monitoring Systems
5.3.1 Sensors
5.3.2 Transmitters
5.3.3 Receivers
6 Global Blood Glucose Monitoring Systems Market, By Technology
6.1 Introduction
6.2 Invasive Blood Glucose Monitoring
6.3 Non-Invasive Blood Glucose Monitoring
7 Global Blood Glucose Monitoring Systems Market, By Application
7.1 Introduction
7.2 Type 1 Diabetes
7.3 Type 2 Diabetes
7.4 Gestational Diabetes
8 Global Blood Glucose Monitoring Systems Market, By Distribution Channel
8.1 Introduction
8.2 Retail Pharmacies
8.3 Hospital Pharmacies
8.4 Online Pharmacies
9 Global Blood Glucose Monitoring Systems Market, By End User
9.1 Introduction
9.2 Hospitals and Clinics
9.3 Home Care Settings
9.4 Diagnostic Centers
9.5 Other End Users
10 Global Blood Glucose Monitoring Systems Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Roche Diagnostics
12.2 Abbott Laboratories
12.3 Medtronic plc
12.4 Dexcom, Inc.
12.5 Ascensia Diabetes Care
12.6 Johnson & Johnson
12.7 B. Braun Melsungen AG
12.8 ARKRAY, Inc.
12.9 Terumo Corporation
12.10 Ypsomed Holding AG
12.11 Nipro Corporation
12.12 Sanofi
12.13 Nova Biomedical
12.14 Trividia Health, Inc.
12.15 AgaMatrix, Inc.
12.16 Echo Therapeutics, Inc.
12.17 GlySens Incorporated
12.18 i-SENS, Inc.
12.19 Bionime Corporation
12.20 DarioHealth Corp.
List of Tables
1 Global Blood Glucose Monitoring Systems Market Outlook, By Region (2022-2030) ($MN)
2 Global Blood Glucose Monitoring Systems Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Blood Glucose Monitoring Systems Market Outlook, By Self-Monitoring Blood Glucose Systems (2022-2030) ($MN)
4 Global Blood Glucose Monitoring Systems Market Outlook, By Blood Glucose Meters (2022-2030) ($MN)
5 Global Blood Glucose Monitoring Systems Market Outlook, By Blood Glucose Test Strips (2022-2030) ($MN)
6 Global Blood Glucose Monitoring Systems Market Outlook, By Lancets and Lancing Devices (2022-2030) ($MN)
7 Global Blood Glucose Monitoring Systems Market Outlook, By Continuous Glucose Monitoring Systems (2022-2030) ($MN)
8 Global Blood Glucose Monitoring Systems Market Outlook, By Sensors (2022-2030) ($MN)
9 Global Blood Glucose Monitoring Systems Market Outlook, By Transmitters (2022-2030) ($MN)
10 Global Blood Glucose Monitoring Systems Market Outlook, By Receivers (2022-2030) ($MN)
11 Global Blood Glucose Monitoring Systems Market Outlook, By Technology (2022-2030) ($MN)
12 Global Blood Glucose Monitoring Systems Market Outlook, By Invasive Blood Glucose Monitoring
13 Global Blood Glucose Monitoring Systems Market Outlook, By Non-Invasive Blood Glucose Monitoring (2022-2030) ($MN)
14 Global Blood Glucose Monitoring Systems Market Outlook, By Application (2022-2030) ($MN)
15 Global Blood Glucose Monitoring Systems Market Outlook, By Type 1 Diabetes (2022-2030) ($MN)
16 Global Blood Glucose Monitoring Systems Market Outlook, By Type 2 Diabetes (2022-2030) ($MN)
17 Global Blood Glucose Monitoring Systems Market Outlook, By Gestational Diabetes (2022-2030) ($MN)
18 Global Blood Glucose Monitoring Systems Market Outlook, By Distribution Channel (2022-2030) ($MN)
19 Global Blood Glucose Monitoring Systems Market Outlook, By Retail Pharmacies (2022-2030) ($MN)
20 Global Blood Glucose Monitoring Systems Market Outlook, By Hospital Pharmacies (2022-2030) ($MN)
21 Global Blood Glucose Monitoring Systems Market Outlook, By Online Pharmacies (2022-2030) ($MN)
22 Global Blood Glucose Monitoring Systems Market Outlook, By End User (2022-2030) ($MN)
23 Global Blood Glucose Monitoring Systems Market Outlook, By Hospitals and Clinics (2022-2030) ($MN)
24 Global Blood Glucose Monitoring Systems Market Outlook, By Home Care Settings (2022-2030) ($MN)
25 Global Blood Glucose Monitoring Systems Market Outlook, By Diagnostic Centers (2022-2030) ($MN)
26 Global Blood Glucose Monitoring Systems Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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