Blood Glucose Monitoring Market by Product (Continuous Blood Glucose Monitors, Self or One Time Monitors), Testing Technology (Electrode Type Blood Glucose Monitor, Photoelectric Blood Glucose Monitor), Application, Distribution Channel, End-User - Global

Blood Glucose Monitoring Market by Product (Continuous Blood Glucose Monitors, Self or One Time Monitors), Testing Technology (Electrode Type Blood Glucose Monitor, Photoelectric Blood Glucose Monitor), Application, Distribution Channel, End-User - Global Forecast 2024-2030

The Blood Glucose Monitoring Market size was estimated at USD 13.06 billion in 2023 and expected to reach USD 14.08 billion in 2024, at a CAGR 8.28% to reach USD 22.80 billion by 2030.

Blood glucose monitoring refers to the ongoing process of tracking the levels of glucose in the bloodstream, which is crucial for individuals managing diabetes. This practice helps in making informed decisions regarding diet, exercise, and medication, contributing to the effective management of blood sugar levels and reducing the risk of diabetes-related complications. The expansion of its use is primarily driven by the growing prevalence of diabetes globally, advancements in technology that provide more convenient and less invasive monitoring options, increased awareness about the importance of glycemic control, and the development of integrated care models. However, discomfort and pain related to frequent finger-prick tests, the cost of monitoring supplies, and the potential for inaccurate readings due to user error or device malfunction impact the product adoption. Manufacturers are focusing on developing continuous glucose monitors (CGMs) that offer painless, real-time monitoring while reducing user involvement, as well as investing in smart devices that can integrate with mobile technology for enhanced data tracking and analysis. The future opportunities in blood glucose monitoring are abundant, with prospects of non-invasive techniques, artificial intelligence (AI) for predictive analytics, and interconnected healthcare devices that could contribute to a more personalized and efficient diabetes management landscape.

Regional Insights

In the Americas, blood glucose monitoring devices are widely used, owing to the increasing prevalence of diabetes, particularly in the United States, which has a mature market for diabetes care. The production of these systems in this region is characterized by high technological innovation, stringent regulatory oversight, and substantial investments in research and development. Major companies based in the Americas provide advanced monitoring systems, including continuous glucose monitoring (CGM) devices and flash glucose monitoring systems. On the other hand, in the Asia-Pacific (APAC) region, there is rapid growth in the blood glucose monitoring market, fueled by the rising diabetic population, growing healthcare awareness, and improving healthcare infrastructure, particularly in emerging economies such as China and India. Production in APAC tends to focus on cost-effectiveness and accessibility, with international companies expanding their footprint to capture the burgeoning demand. Western Europe shows a strong demand for innovative and non-invasive monitoring technologies similar to the Americas, while the Middle East and Africa are emerging markets with a focus on basic glucose monitoring systems due to cost constraints and varying levels of healthcare infrastructure. Companies in the EMEA region are working to strive to balance between introducing advanced products and catering to affordability in different parts of the region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Blood Glucose Monitoring Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Prevalence of diabetes and improved awareness programs
• Increasing preference for non-invasive blood glucose monitoring technology
• Need for continuous blood glucose monitoring in-home care settings

Market Restraints

• Adverse recalls of blood glucose monitoring systems

Market Opportunities

• Advancements in design and capabilities of blood glucose monitoring systems
• Enhancements in the reimbursements for blood glucose monitoring

Market Challenges

• Complexity in the production and operation of blood glucose monitoring

Market Segmentation Analysis

• Product: Provision of personalized guidance in self-monitoring blood glucose monitors
• Testing Technology: Potential of electrode-type blood glucose monitors to be developed as portable and home-use devices
• Application: Need for sophisticated CGMs with accuracy and constant monitoring for type-1 diabetes
• End-User: Provision of blood glucose monitors that optimize clinical efficiency and patient throughput in hospitals

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Blood Glucose Monitoring Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Blood Glucose Monitoring Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Abbott Completes Acquisition Of Bigfoot Biomedical

Abbott completed its acquisition of Bigfoot Biomedical, a company offering smart insulin management technologies for diabetes patients. This strategic move amplifies Abbott's influence in the diabetes sector, enhancing its acclaimed FreeStyle Libre continuous glucose monitoring suite and bolstering its ambition to deliver highly personalized, precise diabetes management solutions.

Dexcom Announces Novel Wearable For Managing Type 2 Diabetes – Without Insulin

Dexcom announced the innovation of a new device specifically tailored for individuals with type 2 diabetes who do not require insulin therapy. In recognition of the diverse coverage landscape, Dexcom is also introducing a cash-pay alternative, ensuring accessibility for those without Medicare or private insurance support, thereby advancing its mission to provide comprehensive diabetes care and bolster day-to-day treatment empowerment.

Astellas and Roche Diabetes Care Japan Ink Partnership Agreement To Develop And Commercialize Integrated Diabetes Self-Management Solution with BlueStar

Astellas Pharma Inc. announced a strategic partnership with Roche Diabetes Care Japan to develop and commercialize a cutting-edge blood glucose monitoring system. This collaboration integrates Roche's Accu-Chek Guide Me system, known for its superior accuracy, with Welldoc's FDA-cleared BlueStar, an innovative digital health solution for individuals with diabetes. By joining forces, the two organizations aim to address the significant healthcare needs of the approximately 10 million Japanese people battling diabetes and prediabetes.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Blood Glucose Monitoring Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Blood Glucose Monitoring Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AdvaCare Pharma, Advin Health Care, ARKRAY, Inc., Ascensia Diabetes Care Holdings AG by PHC Holdings Corporation, B. Braun Melsungen AG, BAYER AG, Becton, Dickinson and Company, Dexcom, Inc., F. Hoffmann-La Roche Ltd., GlySens Incorporated, I-SENS, Inc., Insulet Corporation, Johnson & Johnson Services, Inc., LifeScan IP Holding, LLC., Medtronic PLC, Medtrum Technologies Inc., Nemaura Medical Inc., Nipro Europe Group Companies, Nova Biomedical, Novo Nordisk A/s, NXP Semiconductors N.V., PHC Holding Corporation, Prodigy Diabetes Care LLC, Sanofi S.A., Senseonics Holdings Inc., Sinocare Inc., Teladoc Health, Inc., Terumo Corporation, and Ypsomed AG.

Market Segmentation & Coverage

This research report categorizes the Blood Glucose Monitoring Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Product
• Continuous Blood Glucose Monitors
• Insulin Pumps
• Sensors
• Transmitter & Receiver
• Self or One Time Monitors
• Blood Glucose Meter
• Lancets
• Testing Strips
• Testing Technology
• Electrode Type Blood Glucose Monitor
• Photoelectric Blood Glucose Monitor
• Application
• Gestational Diabetes
• Type 1 Diabetes
• Type 2 Diabetes
• Distribution Channel
• Offline
• Online
• End-User
• Home Care
• Hospital & Clinics

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year