Blood Glucose Monitoring Devices Market to be Worth $21.71 Billion by 2030

Blood Glucose Monitoring Devices Market by Product (Self-monitoring {Glucometer, Test Strips, Lancets}, Continuous Glucose Monitoring {Sensors, Receiver, Transmitter}), Diabetes Type, End User (Self/Home Care, Hospital, Clinic) - Global Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Blood Glucose Monitoring Devices Market by Product (Self-monitoring {Glucometer, Test Strips, Lancets}, Continuous Glucose Monitoring {Sensors, Receiver, Transmitter}), Diabetes Type, End User (Self/Home Care, Hospital, Clinic) - Global Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the blood glucose monitoring devices market is projected to reach $21.71 billion by 2030, at a CAGR of 7.5% from 2023 to 2030. The growth of this market is driven by the rising prevalence of diabetes, the increasing number of people living sedentary lifestyles, and product innovations in diabetes care.

In addition, the growing demand for non-invasive glucose monitoring devices and increasing awareness regarding diabetic health in developing countries are expected to provide significant growth opportunities for this market.

However, the insurance coverage and reimbursement scenarios and product recalls are expected to hinder the growth of this market. In addition, factors such as the large number of people living with undiagnosed diabetes and the high costs of continuous glucose monitoring devices are major challenges to the market’s growth.

Future Outlook

The blood glucose monitoring devices market is segmented based on product, diabetes type, end user, and geography. The study also evaluates industry competitors and analyzes the market at the county and regional levels.

Based on product, in 2023, the self-monitoring devices segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to the advantages offered by self-monitoring devices, including cost-efficiency, ease of access, ease of use, and wide availability of these devices.

Based on diabetes type, in 2023, the type-2 diabetes segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to the increased prevalence of type-2 diabetes due to the increasing number of people living unhealthy lifestyles without physical activity.

Based on end user, in 2023, the self/home care segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to the large patient population utilizing blood glucose monitoring devices for self-management of diabetes and its advantages, such as convenience and cost-effectiveness.

This research report analyzes the market across major regions and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

In 2023, North America is expected to account for the largest share of the blood glucose monitoring devices market, followed by Europe and Asia-Pacific. North America’s major market is attributed to the factors such as high awareness about diabetes management, high adoption of newer technologies such as continuous glucose monitoring, and higher purchasing power of the population.

Key Players:

The key players operating in the blood glucose monitoring devices market include Abbott Laboratories (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland) (Subsidiary of PHC Holdings Corporation), Becton, Dickinson and Company (U.S.), DexCom, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), LifeScan IP Holdings, LLC (Switzerland) (Subsidiary of Platinum Equity, LLC [U.S.]), Medtronic plc (Ireland), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), and Nipro Corporation (Japan), ARKRAY, Inc. (U.S.), Prodigy Diabetes Care, LLC (U.S.), ACON Laboratories, Inc. (U.S.), and Nova Biomedical Corporation (U.S.).

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Key questions answered in the report:

Which are the high-growth market segments in terms of product, diabetes type, end user, and region/country?
What was the historical market size for blood glucose monitoring devices across the globe?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, opportunities, and challenges in the global blood glucose monitoring devices market?
Who are the major players in the blood glucose monitoring devices market?
How is the competitive landscape, and who are the market leaders in the global blood glucose monitoring devices market?
What are the recent developments in the global blood glucose monitoring devices market?
What are the different strategies adopted by the major players in the global blood glucose monitoring devices market?
What are the geographical trends and high-growth regions/countries?

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