Global Blood Glucose Monitoring System Market 2024 – 2033

Reports Description

The blood glucose monitoring system market has projected a growth Of USD 15.94 billion by 2021 and is expected to reach USD 18.11 billion in 2022 and is expected to reach USD 31.34 billion by the end of 2030 at a compound annual growth rate of 10.1%.

The rapidly increasing number of patients who have diabetes has increased the demand for efficient blood glucose monitoring systems in the market. The key market players make huge investments to carry out rapid research and development programs which will help them to introduce advanced machines and monitoring systems for diabetes. A continuous monitoring system helps to constantly evaluate the patient’s condition and can be reevaluated to select the suitable line of treatment and diet.

The pandemic outbreak considerably impacted the growth of the blood glucose monitoring system as the COVID infection is directly related to the individual’s blood glucose level. Many cases of diabetes emerged after the occurrence of the pandemic. The use of insulin was rapidly increased in the hospital sector to control the sugar levels of the patients.

Growth Factors

The rapidly increasing number of complications in the individual’s body after the occurrence of diabetes has helped boost the market for blood glucose monitoring systems. Non-healing of wounds becomes a major complication that must be managed by evaluating the glucose levels in the body, which directly impacts the healing process. Increasing awareness regarding the available facilities and advanced technologies for monitoring blood glucose and controlling it has helped the market of blood glucose monitoring systems to show tremendous growth. Key market players are making constant efforts to make these systems affordable for patients to increase the demand and supply all over the world.

Segmental Insights

Segmentation of blood glucose monitoring system based on Device Type

Based on device type, the segment of continuous glucose monitoring systems acquired the largest market share due to its huge demand in the market. Many developing countries all over the world are adopting the usage of the continuous glucose monitoring system to have a close watch on the diabetic parameters of the individual and maintain their health.

Regular checkup of glucose levels makes it easier for the healthcare industry to obtain better results by administering the required drugs and medicines per the patient’s condition. The results provided by continuous blood glucose monitoring systems are far more useful and accurate than the other types of systems available on the market.

The self-monitoring blood glucose system is observing a huge market in the current scenario. This market is foreseen to face a declining phase in the future due to the costly devices available in the market, which do not make it affordable for the common people to opt for such advanced technologies. This hampers the glucose monitoring system and has a direct impact on the health of the individual.

The increasing rates of consumables in the market have also been a reason to reduce the disposable income available to the people, hampers the growth of the market. These devices’ lack of penetration capacity encourages the adoption of continuous glucose monitoring system devices, which are capturing the market faster.

• Segmentation of blood glucose monitoring system based on Modality

Based on mortality, the segment of non-wearable maintained a dominating status in the market pertaining of its huge demand among the people. The existence of key market players in this sector who have great potential, along with huge economic backup, has helped this segment to perform better than its counterparts in the market. This becomes the primary reason for the great support behind the market’s growth during the forecast period. On the other hand, the wearable segment is emerging at a faster rate, and it’s foreseen to become a larger market in the future due to its rapid development.

The huge number of innovations and products being launched into the market by the key market players and manufacturers has helped the market to strengthen its foothold for the future. Increasing people’s awareness of the system’s pros and cons is helping the market to show tremendous results.

• Segmentation of blood glucose monitoring system based on Type

Based on type, this segment of invasive devices has dominated the market due to the huge demand and supply experienced in the market, which stops people from considering self-monitoring systems to manage their glucose levels which has boosted the demand for invasive devices due to their easy operating systems.

Invasive devices do not require special skills and hence can be used easily by common people to monitor their blood glucose levels. On the other hand, reducing tolerance for pain during the invasive procedure carried out for monitoring blood glucose levels has increased the demand for noninvasive systems, making it easier for the operator and reducing the risk of associated injury. Another reason which boosts the demand for noninvasive devices is the non-healing capacity of the diabetic individual, which may impose a greater risk for the person’s health in case the needle prick injury develops into a bigger wound.

The presence of a huge geriatric population all over the world has boosted the number of patients suffering from blood glucose disorders and diabetes, and hence the requirement for advanced technologies to monitor the levels in the body becomes the need of the hour. Noninvasive blood glucose monitoring is very comfortable and easy for older people and hence is seen a rapid demand in the current market. 

• Segmentation of blood glucose monitoring system based on Diabetes Type

Based on the type of diabetes, the increasing number of patients with type 2 diabetes has boosted the market to a great extent, and hence it emerges as a dominant market. The huge number of patients with this disorder increases the consumption of insulin and other anti-glycemic drugs used to control the glucose level in the blood. These patients are insulin dependent and hence require the use of glucose monitoring devices which are usually of the invasive type and produce a very minimal amount of pain in the individual’s body.

Key market players are conducting extensive research and development programs to make these devices into a noninvasive pattern, making it easier for the geriatric population to administer these medicines. A notable contribution has been recorded on behalf of type 1 diabetes; hence, the requirement for continuous glucose monitoring systems has increased. This system provides high efficiency in monitoring the individual’s blood glucose level. People who have type 1 diabetes have a high risk of low blood sugar levels or hypoglycemia, which might prove to be fatal for the body of the individual and lead to fainting spells or dizziness. The increasing prevalence of this type of diabetes has emerged as a leading market and is foreseen to show considerable growth during the forecast period.

• Segmentation of blood glucose monitoring system based on Distribution Channel

Based on distribution channels, the retail sales segment has emerged as a dominant market due to the huge demand and supply chain, which results from the existence of a huge number of people suffering from this disease. Usually, only in the initial stages of this disorder do people visit a hospital sector, and after that, they usually prefer to purchase the medicines according to the prescription from the retail stores. This tendency to purchase medicines over the counter from retail stores has proved to be a major factor that has boosted the economy for retail sales.

The regular demand and supply experienced in retail sales owing to the huge client base available in the market has supported the growth of this segment to a great extent and is foreseen to dominate the market during the future period as well. The institutional sales segment has presented a moderate pace in the market due to the lower adoption rate of blood glucose monitors in hospitals and clinics. After the pandemic outbreak, many healthcare sectors adopted these systems, which included continuous glucose monitors on a larger scale; hence, it expects considerable growth in the future.

Report Scope

Regional Insights

Based on geography, the huge number of people suffering from diabetes and blood glucose disorders in North America has proved to be a major factor that has made this region a dominant market and is foreseen to continue similarly in the future. As a result of the developed status of the country, these sedentary lifestyle practices have increased to a great extent, resulting from the huge number of multinational companies that demand long working hours. Hence the increasing amount of stress and lifestyle disorders have proved to be the causative factors for diabetes and other blood glucose-related disorders.

The demand for blood glucose monitoring systems has seen a tremendous boost in this region, supported by the high disposable income available to the people. The next largest market follows there is the region of Europe which comprises a huge client base suffering from diabetes. The rapidly growing awareness regarding the management of diabetes among people has boosted the blood glucose monitoring systems market size.

The region of Asia Pacific has emerged as the next sector, which has shown considerable growth due to the increasing number of people who have diabetes; hence, the demand and supply of blood glucose monitoring systems have increased.

Recent developments

• In February 2021 – Ascensia diabetes care holding AG acquired the distribution channel of Eversense XL, which is located in Germany, Spain, Italy, Netherlands and Switzerland, to meet the increasing demands in the market of Europe.
• In March 2021 – F. Hoffmann- la Roche Co Introduced Accuchek instant product, which connects directly to the mySugr app. This app provides the data for blood glucose parameters in real time.

Key Players

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

Segments covered in the report

By Device

• Self monitoring blood glucose system
• Continuous glucose monitoring system

By Modality

• Non wearable
• Wearable

By Type

• Invasive
• Non invasive

By Patient Type

• Type 1 diabetes
• Type 2 diabetes

By Distribution Channel

• Retail sales
• Institutional sales

On the basis of Geography

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America