Blood Glucose Monitoring Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Blood Glucose Monitoring Systems Market
The blood glucose monitoring systems market size was valued at USD 15.80 billion in 2023, and the market is now projected to grow from USD 17.03 billion in 2024 to USD 32.99 billion by 2032, exhibiting a CAGR of 9.9% during the forecast period of 2024-2032.
This favorable outcome during the pandemic proved to be a boon for the healthcare industry at large. Home usage monitoring devices are receiving more attention as a means of controlling blood glucose levels at home because to the rising risk of COVID-19 infection among individuals with diabetes which has in terms attributed the market growth. The pandemic's breakout has caused a number of major players to report increases in their revenue from diabetic care. These factors affected the blood glucose monitoring systems market growth.
An important factor driving the rapid adoption of these systems throughout the world is the considerable rise in the number of patients with type-1 or insulin-dependent type 2 diabetes. The revenue and share systems numbers are off the charts and demands are touching the skies. These factors affected the blood glucose monitoring systems market share.
Some of the key developments in this market include the growing use of CGM and the industry participants' shifting emphasis toward non-invasive blood glucose monitoring systems. This particular product market has expanded rigorously after this trend has kicked in and has attributed the market shares.
Comprehensive Analysis of Blood Glucose Monitoring Systems Market
Wearable and non-wearable products are offered in the market based on modalities. Type 1 and type 2 diabetes are the two patient categories into which the market is divided. Institutional and retail sales are included in the market based on the distribution channel.
North America is expected to be the leading region of this particular product market. As a result of growing health concerns and precautions against microbial or viral exposure. This particular product market is expanding due to various reasons. Some of the major variables primarily responsible for the leading regional market share include the rising number of diabetic patients, the growing acceptance of technologically advanced medical equipment, and the development of per capita medical expenses.
Moderate market fragmentation exists. Damen Abbott (U.S.), B. Braun Melsungen AG (Germany), Dexcom, Inc. (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland), and Medtronic (Ireland), are some of the major competitors of this particular product market.
In March 2023, this particular company has attributed the market growth in terms of revenue and shares system. The FreeStyle Libre 2 and FreeStyle Libre 3 integrated CGM sensors from Abbott have been approved by the US FDA for use with automated insulin delivery systems. This development has proved that the company will continue to proliferate this particular product market growth.
Segmentation Table
Attribute Details
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 9.9% from 2023 to 2030
Unit Value (USD billion)
Segmentation By Device Type, Type, Modality, Patient Type, Distribution Channel, and Region
By Device Type Continuous Glucose Monitoring Systems
Self-Monitoring Blood Glucose Systems
By Type Non-invasive
Invasive
By Modality Wearable
Non-wearable
By Patient Type Type-1 Diabetes
Type-2 Diabetes
By Distribution Channel Institutional Sales
Retail Sales
By Geography North America (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel, and By Country)
- U.S. (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Canada (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
Europe (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel, and By Country)
- U.K. (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Germany (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- France (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Italy (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Spain (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Rest of Europe
Asia Pacific (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel, and By Country)
- China (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Japan (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- India (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Australia (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Korea (By Device Type, By Modality, By Type, By Patient Type, By Distribution Channel)
- Rest of Asia Pacific
Rest of the World (By Device Type, By Modality, By Type, By Patient Type, and By Distribution Channel)