Glucose Monitoring Devices Market By Device (Blood Glucose Meters, Continuous Glucose Monitoring Systems, Flash Glucose Monitoring Systems, Smartphone Apps and Wearables), By Patient Type (Type 1 Diabetes, Type 2 Diabetes) By End User (Hospitals and Clinics, Home Care Settings, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Glucose Monitoring Devices Market
The glucose monitoring devices market was valued at $14.7 billion in 2023 and is projected to reach $38.9 billion by 2033, growing at a CAGR of 10.2% from 2024 to 2033.
Glucose monitoring involves the measuring and tracking the glucose levels in the blood or interstitial fluid of individuals. It is an essential routine for individuals with diabetes for effective management, as it provides data about fluctuations in blood sugar levels throughout the day in response to several factors such as food intake, stress, physical activity, and medication. The real-time or periodic glucose readings provided glucose monitoring devices allow individuals to make informed decisions regarding dietary choices, medication dosage, and lifestyle adjustments. Glucose monitoring devices are critical equipment for the prevention of short-term and long-term complications associated with diabetes.
Increase in prevalence of lifestyle diseases, including obesity and diabetes, is a major driver of the glucose monitoring devices market. In addition, the demand for self-monitoring portable devices is surging among individuals, hence augmenting the development of the market. Non-invasive glucose monitoring devices are trending in the market currently. Optical sensors and microneedle patches are among the most common equipment available in the market. Furthermore, the integration of data analytics is acquiring traction from individuals and healthcare providers as it aids to identify patterns and trends, thereby assisting in proactive management and prevention of diseases.
However, a large base of individuals adheres to the traditional method of glucose testing owing to high confidence in its results, which presents challenges for the widespread adoption of new & innovative glucose monitoring devices. Moreover, the approval process of new monitoring devices is highly stringent and lengthy, which often delays the introduction of novel products into the market. Contrarily, the constant efforts of scientists to launch innovative products present lucrative opportunities for the expansion of the market. For instance, researchers of the King Abdullah University of Science & Technology, Saudi Arabia developed a prototype for a sensor that measures glucose levels using saliva. This device is projected to be a simple, quick, and painless way for individuals to measure blood glucose in the future.
Segment ReviewThe glucose monitoring devices market is segmented into device, patient type, end user, and region. On the basis of device, the market is divided into blood glucose meters, continuous glucose monitoring systems, flash glucose monitoring systems, smartphone apps, and wearables. By patient type, it is bifurcated into type 1 diabetes and type 2 diabetes. According to end user, it is classified into hospitals & clinics, home care settings, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of device, the continuous glucose monitoring devices segment generated the highest revenue in the market in 2023.
By patient type, the type 1 diabetes segment was the highest shareholder in 2023.
According to end user, the home care settings segment was the highest revenue generator in 2023.
Competition AnalysisThe major players operating in the global glucose monitoring devices market include Menarini Diagnostics S.R.L., Senseonics, A., Novo Nordisk A/S, GlySens Incorporated, Johnson & Johnson, DexCom, Inc., Medtronic plc, F. Hoffman-La Roche Ltd, Abbott laboratories, and B. Braun SE. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
Key Market SegmentsBy DeviceBlood Glucose Meters
Continuous Glucose Monitoring Systems
Flash Glucose Monitoring Systems
Smartphone Apps and Wearables
By Patient TypeType 1 Diabetes
Type 2 Diabetes
By End UserHospitals and Clinics
Home Care Settings
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
Menarini Diagnostics S.R.L.
Senseonics, A.
Novo Nordisk A/S
GlySens Incorporated
Johnson & Johnson
DexCom, Inc.
Medtronic plc
F. Hoffman-La Roche Ltd
Abbott laboratories
B. Braun SE