Blood Glucose Monitoring Devices Market Size is Predicted to Witness 8.13% CAGR till 2030

[sara James]

The global Blood Glucose Monitoring Devices Market size is expected to reach USD 23.21 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.13% from 2023 to 2030. Patients with diabetes and their healthcare professionals benefit significantly from Blood Glucose Monitoring Devices (BGMD). BGMD is becoming more widely accepted as an important component of intensive diabetic treatment. It allows diabetic patients to measure their blood sugar levels within minutes with ease and convenience wherever they are. The continuous glucose monitoring (CGM) devices help analyze the blood glucose level continuously and in real-time. It also helps patients determine the level of dietary intake and dosage of insulin. In addition, factors such as sedentary lifestyles including consumption of junk food, alcohol, and smoking, and a surge in the need for safer and faster diagnoses are expected to boost the market growth during the forecast period.

According to the International Diabetes Federation (IDF), the total number of diabetic patients is expected to expand to 643 million (11.3 %) by 2030 and 783 million (12.2 %) by 2045. Obesity is one of the major factors propelling the prevalence of diabetes. Obese individuals are up to 80 times more likely than non-obese persons to develop diabetes. Studies suggest that 650 million people over the age of 18 are obese. Further, due to the ongoing efforts by the government and healthcare organizations such as the International Diabetes Federation (IDF) to control diabetes, the market is likely to rise at a rapid pace throughout the forecast period. Through a network of stakeholders and collaborators, these organizations provide needed expertise and support diabetes awareness campaigns. Rising health-care funding is also expected to boost market growth.

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List of Key Players in Blood Glucose Monitoring Devices Market

• Abbott Laboratories
• Medtronic plc
• F. Hoffmann-La Roche Ltd.
• Ascensia Diabetes Care
• Dexcom, Inc.
• Sanofi
• Novo Nordisk
• Insulet Corporation
• Ypsomed Holdings
• GlySens Incorporated

Related Press Release@ Blood Glucose Monitoring Devices Market Report

Blood Glucose Monitoring Devices Market Report Highlights

• North America held the largest revenue share in 2022 owing to favorable reimbursement policies, local presence of key players, and supportive government initiatives
• Based on product, the self-monitoring devices segment held the largest revenue share of 66.5% in 2022 and is expected to grow at a significant pace over the forecast period
• The continuous blood glucose monitoring devices product segment is expected to be the fastest-growing segment during the forecast period
• In the self-monitoring devices, the testing strips segment accounted for the largest revenue share in 2022 owing to the high usage of these strips and affordability.
• By end-use, the home care segment is expected to grow at a rapid pace during the forecast period

Blood Glucose Monitoring Devices Market Segmentation

Grand View Research has segmented the global blood glucose monitoring devices market based on product, end-use, and region:

Blood Glucose Monitoring Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Self-monitoring Devices
• • Blood Glucose Meter
  • Testing Strips
  • Lancets
• Continuous Blood Glucose Monitoring Devices
• • Sensors
  • Transmitter & Receiver
  • Insulin Pumps

Blood Glucose Monitoring Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Home Care
• Diagnostic Centers

Blood Glucose Monitoring Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

• • U.S.
  • Canada
• Europe
• • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Denmark
  • Norway
• Asia Pacific
• • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
• Latin America
• • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
• • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait