Blood Glucose Monitoring Market: Current Analysis and Forecast (2022-2028)

Blood Glucose Monitoring Market: Current Analysis and Forecast (2022-2028)

Blood glucose monitoring involves measuring and logging blood glucose levels, analyzing the information, and sharing it with care providers who provide personalized support to cope with the disease. Blood glucose monitoring observes patterns in the fluctuation of blood glucose (sugar) levels that occur in response to diet, exercise, medications, and or pathological processes associated with blood glucose fluctuations such as diabetes. Unusually high or low blood glucose levels can potentially lead to acute and or chronic, life-threatening conditions. Blood glucose level (BGL) or blood sugar level (BSL) monitoring undertaken in the home/community are often referred to as capillary blood glucose (CBG) tests, while blood glucose tests conducted at clinical facilities may include CBG, and (plasma glucose) venous blood tests. Advancements in glucose self-monitoring technologies like the light diffusion method, and wearable-mounted sensors have made the monitoring process automated and reliable as the patients can assess and check their glucose levels at any time, and doctors can use the collated data to make informed decisions.

The Blood Glucose Monitoring Market is expected to grow at a growth rate of around 7% during the forecast period (2022-2028) owing to the rising incidence of diabetes and the increasing geriatric population prone to diabetes and increasing awareness regarding diabetic prevention care is fueling the growth in blood glucose monitoring market. According to the estimations of the International Diabetes Federation (IDF), in 2021, around 537 million adults were suffering from diabetes, and it is projected to reach around 783 million by 2045. With the increasing prevalence of diabetic patients globally, it is critical for patients to regularly monitor their blood glucose levels to avoid an episode of hyperglycemia.

• Based on product type, the blood glucose monitoring market is segmented into self-monitoring blood glucose (SMBG) and continuous glucose monitoring (CGM). Self-monitoring blood glucose devices accounted for the largest share of revenue in 2020. Easy availability of self-monitoring blood glucose devices, high consumer awareness, ease of use, low cost, accurate and immediate feedback, and reimbursement policies in some countries contribute to the demand for self-monitoring
• Based on modality, the blood glucose monitoring market is segmented into wearable and non-wearable segments. The non-wearable segment held a significant share of the market and is likely to register higher growth during the forecasted period due to painless procedures and ease of application, advanced technology, and the presence of numerous market players with strong portfolios. For instance, in 2020, Samsung collaborated with experts from the Massachusetts Institute of Technology (MIT) to unveil a non-invasive method for measuring blood sugar levels
• Based on the distribution channel, the blood glucose monitoring market is segmented into institutional and retail sales. The retail sale segment captured a substantial market share in 2020 due to increasing initiatives by market players to expand their presence through retail channels in emerging as well as developing countries in order to strengthen their position. In March 2021, OMRON Healthcare India has outlined its plans to expand its retail presence in South India to strengthen the availability and practice of home healthcare monitoring
• For a better understanding of the market adoption of the blood glucose monitoring industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America held the largest share in the blood glucose monitoring market, due to the large patient pool, well-established healthcare facilities, new product launches, and wide acceptance of advanced technologies. According to International Diabetes Federation (IDF), 51 million adults (20-79) are living with diabetes in the North America and Caribbean Region in 2021. This figure is estimated to increase to 57 million by 2030 and 63 million by 2045
• Some of the major players operating in the market include Abbott; B. Braun SE; DexCom, Inc.; Ascensia Diabetes Care Holdings AG; Medtronic plc; F. Hoffmann-La Roche Ltd.; Terumo Corporation; LifeScan IP Holdings, LLC; Senseonics; OMRON Corporation