Hand-held Glucose Meter Market By Product (Standard Glucose Meters, Smart Glucose Meters, Continuous Glucose Monitors) , By End User (Hospitals and Clinics, Homecare, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The hand-held glucose meter market was valued at $1.2 billion in 2023, and is projected to reach $2.0 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.
A hand-held glucose meter is a compact, portable medical device designed to measure and monitor blood glucose levels. It serves as an essential tool for individuals with diabetes, allowing them to track their blood sugar levels accurately and conveniently from home or on the go. The device works by analyzing a small drop of blood, usually obtained through a finger prick, which is placed on a disposable test strip. The glucose meter then provides a digital readout of the blood glucose concentration within seconds.
The growth of the global hand-held glucose meter market is driven by alarming rise in prevalence of diabetes and surge in demand for reliable glucose monitoring devices. The IDF Diabetes Atlas (2021) reports that approximately 540 million individuals were suffering from diabetes worldwide. This number is estimated to rise to 643 million by 2030 and 783 million by 2045. In addition, increase in awareness of self-monitoring for diabetes management has fostered the demand for user-friendly and accurate handheld glucose meters, thus strengthening the market growth. Furthermore, surge in geriatric population significantly contributes toward the growth of the global market. This is attributed to the fact that as people age, their bodies experience a natural decline in insulin production and sensitivity, leading to higher blood glucose levels and an increased risk of developing type 2 diabetes. As per the World Health Organization, the number of people aged 60 years and older was 1 billion in 2019. This number is estimated to increase to 1.4 billion by 2030 and 2.1 billion by 2050. Moreover, shift toward preventive healthcare that encourages more people to monitor their health conditions regularly augments the adoption of personal glucose meters. However, accuracy and calibration concerns associated with hand-held glucose meters hamper the market growth. In addition, lack of diabetes education and economic constraints act as the key deterrent factors of the global market. On the contrary, continuous improvements in sensor technology, data connectivity, and digital health integration have made glucose meters more accurate, easier to use, and compatible with health apps, enhancing their appeal and usability. Such developments are expected to offer lucrative opportunities for the expansion of the global market during the forecast period.
The global hand-held glucose meter industry is segmented into product, end user, and region. On the basis of product, the market is classified into standard glucose meters, smart glucose meters, and continuous glucose monitors. Depending on end user, it is divided into hospitals & clinics, homecare, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of product, the smart glucose meters segment is expected to dominated the market from 2024 to 2033.
Depending on end user, the hospitals & clinics segment is anticipated to exhibit the highest growth during the forecast period.
By region, North America held the largest market share in terms of revenue in 2023, and is projected to dominate the market throughout the forecast period.Competition AnalysisCompetitive analysis and profiles of the major players in the global hand-held glucose meter market include F. Hoffmann La Roche, Abbott Laboratories, Johnson & Johnson Company, DexCom, Inc., Medtronic Plc, Bayer AG, Ascensia Diabetes Care Holdings AG, Terumo Corporation, Nova Biomedical Corporation, and Ypsomed Holding AG. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.
Key Market SegmentsBy ProductStandard Glucose Meters
Smart Glucose Meters
Continuous Glucose Monitors
By End UserHospitals and Clinics
Homecare
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 PlayersF. Hoffmann La Roche
Abbott Laboratories
Johnson & Johnson Company
DexCom, Inc.
Medtronic plc
Bayer AG
Ascensia Diabetes Care Holdings AG
Terumo Corporation
Nova Biomedical Corporation
Ypsomed Holding AG