Blood Glucose Meters Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Blood Glucose Meters Market

The Blood Glucose Meters Market size was valued at USD 74.19 billion in 2023, and the market is now projected tgrow t15.41 USD billion by 2032, exhibiting a CAGR of 9.6% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Forestry Equipment Market growth.

Some of the factors boosting the market share of blood glucose meters are the growing number of diabetes patients as well as the accuracy and dependability of blood glucose monitoring equipment. The non-invasive blood glucose meter market is anticipated tbe driven by the increase in demand. The traditional, invasive approach of blood glucose monitoring is uncomfortable because of its intrusive nature. These particular growth driving factors have been recorded tattribute the Blood Glucose Meters Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. The market expansion for blood glucose meters is anticipated tbe driven by the development of continuous glucose monitoring systems, which use an implanted sensor beneath the skin tcontinuously test blood glucose levels over a predetermined period of time. Patients with type 2 diabetes have shown therapeutic benefits from continuous glucose monitoring (CGM), even while receiving several daily insulin injections. Demand for the meter is expected tincrease with the advent of wearable continuous blood glucose monitors because of its continuous blood glucose monitoring and convenience of use. Over the course of the forecast period, these variables are anticipated tdrive market revenue.

Comprehensive Analysis of Blood Glucose Meters Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. Technique is used tdivide the market intinvasive and non-invasive categories. Wearable and non-wearable products are the twtypes of worldwide market segments. Throughout the projected period, a somewhat higher CAGR is anticipated for the wearable category. The online pharmacy market is expected tgrow at a relatively higher compound annual growth rate (CAGR) due tthe progressive transition of self-glucose monitoring products from retail pharmacies tonline pharmacies in developing nations. This will probably increase market demand for blood glucose meters. These particular segmentations have been categorized intsuch groups sthat their attribution tthe overall revenue systems are properly recorded studied sas tdetermine which is the leading and most beneficial segment of all.

North America led the world in revenue, followed by Europe, and is anticipated tcontinue tdominate the market for the duration of the forecast. A larger share of the global market is attributed tNorth America's growing patient base with diabetes, as well as the growing demand and uptake of new and innovative wearable and continuous blood glucose meters in the United States. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Hoffmann-La Roche Ltd (Switzerland), Dexcom, Inc. (U.S.), Braun Melsungen AG (Germany), Medtronic (Ireland), Lifespan Inc. (India), Ascensia Diabetes Care Holdings AG. (Switzerland), TerumMedical Corporation (U.S.), and Abbott (U.S.).

In June 2021, This particular company has attributed the market growth in terms of revenue and shares system. The next-generation wireless blood glucose meter for diabetes management was introduced by BioTel CareTM. It is the first FDA-approved cellular-enabled glucometer that allows for real-time data transmission and aggregation in an FDA-approved cloud.

Segmentation Table

ATTRIBUTE DETAILS

By Product Continuous Glucose Monitoring Devices

Self-Monitoring Blood Glucose (SMBG) Systems

By Technique Invasive

Non-Invasive

By Type Wearable

Non-Wearable

By Distribution Channel Institutional Sales

Hospitals

Clinics

Others

Retail Sales

Hospital Pharmacies

Retail Pharmacies

Online Pharmacies

By Geography North America (USA and Canada)

Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

Latin America (Brazil, Mexicand Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)