Diabetes Monitoring Devices Market

Diabetes Monitoring Devices Market, By Product Type (Self-Monitoring Blood Glucose Devices and Continuous Glucose Monitoring Devices), By Indication (Type-I Diabetes, Type-II Diabetes, and Gestational Diabetes), By End User (Hospitals, Clinics, Home Care Settings, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Blood glucose monitors are used by diabetic patients and clinicians to monitor and to help control a patient's blood glucose level. Most of these devices are used by patients outside the hospital setting. Many of these patients are elderly, with limited manual dexterity and impaired vision. Blood glucose monitors have a reading port into which patients place a small calibrated test strip, onto which they have applied blood, for analysis. In order to accommodate users with limited manual dexterity, the test strips cannot be too small by making the strip difficult for the user to handle.

Market Dynamics:

Growing prevalence of diabetes across the globe is a major factor driving the growth of diabetes monitoring devices market. According to the latest data by the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 which is projected to rise to 783 million by 2045. Diabetes disproportionately affects lower and middle-income countries and accounts for over 1.2 million deaths each year. With the rising diabetic population worldwide and increasing health awareness, there is greater emphasis on efficient glucose monitoring and management of the disease.

However, the market also faces certain challenges. The costs involved in continuous training of healthcare providers to operate and integrate advanced devices into treatment plans also contribute to higher prices. Limited government intervention through reimbursement schemes further restrains affordability of diabetic patients. While technology holds promise to revolutionize diabetes management, its benefits can only percolate to masses if pricing obstacles are addressed. Unless alternatives are developed to make innovation more affordable and accessible, high prices will continue limiting market expansion especially in less developed regions.

Despite these challenges, the market presents several opportunities for growth. The development of novel wearable and minimally-invasive technologies is expected to transform diabetes monitoring. A few early examples include continuous glucose monitoring systems that do not require finger pricks and can be worn for up to 14 days. Patch-like sensors have also been trialed that extract interstitial fluid with little pain or hassle. If such solutions become widely accessible in an affordable way, they may help shift management from inconsistent self-tracking to near-constant automated oversight. This could help diabetics better control their condition through informed timely interventions.

Key features of the study:

• This report provides in-depth analysis of the global diabetes monitoring devices market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global diabetes monitoring devices market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include i-SENS, Inc., Ascensia Diabetes Care Holdings AG., Bayer AG, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Inc., Medtronic, Dexcom, Abbott, Labiotech UG, ARKRAY, Inc., Cnoga, Sanofi, and Lifescan
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global diabetes monitoring devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global diabetes monitoring devices market

Global Diabetes Monitoring Devices Market Detailed Segmentation:

• By Product Type:
• Self-Monitoring Blood Glucose Devices
• Continuous Glucose Monitoring Devices
• By Indication:
• Type-I Diabetes
• Type-II Diabetes
• Gestational Diabetes
• By End User:
• Hospitals
• Clinics
• Ambulatory Surgical Center
• Home Care Settings
• Others
• By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
• Top Companies in the Global Diabetes Monitoring Devices Market:
• i-SENS, Inc.
• Ascensia Diabetes Care Holdings AG.
• Bayer AG
• Hoffmann-La Roche Ltd
• Johnson & Johnson Services, Inc.
• Medtronic
• Dexcom
• Abbott
• Labiotech UG
• ARKRAY, Inc.
• Cnoga
• Sanofi
• Lifescan