Global Blood Glucose Monitoring System Market Is Propelled By Increasing Prevalence Of Diabetes to Exceed Market Value of $31.5B By 2028

15-Jun-2022 | Zion Market Research

The global blood glucose monitoring system market size was at a net worth of $14.79 Billion in 2021 and is projected to grow at a CAGR of 10.12% between 2022-2028 and reach a market value of  $31.5 Billion during the forecast period. Blood glucose monitoring (BGM) systems, also known as devices can benefit patients with diabetes in four ways. These systems enable patients and physicians to identify high or low blood glucose levels, enabling therapeutic changes & patient protection by quickly verifying acute hypoglycemia or hyperglycemia and providing broader self-care options. Patients may learn more about diabetes and how to manage it with the use of technology, which also motivates them to adopt better practices. Blood glucose analyzers come in a variety of sizes, costs, testing times, and user-friendliness.

The increased incidence of diabetes in developing and developed nations can be attributed to a number of reasons, including rapid urbanization and a growing trend toward a sedentary lifestyle, thereby driving the global blood glucose monitoring system market. According to figures provided by the International Diabetes Federation in 2021, there were an anticipated 537 million individuals suffering from diabetes, with nations such as China, India, the United States, Brazil, and Mexico accounting for 51.6 percent of the worldwide diabetes population. A large spike in the proportion of patients with type 1 or insulin-dependent type 2 diabetes has also been seen, which has aided in the global adoption of these systems. Moreover, according to statistics given by the International Diabetes Federation, the prevalence of type 1 diabetes among children and teens aged 0 to 19 years was expected to be 149.5 per 1,000 in 2021, with a global prevalence of roughly 9.8 percent among the overall population. As a result, the presence of a large patient population with insulin-dependent diabetes, new product introductions by market participants, and attractive reimbursement are all driving demand for diabetes monitoring devices like BGMs.

The COVID-19 outbreak had a beneficial influence on the market for blood glucose monitoring systems. As a result of the pandemic's spread, several major players have claimed increased income from diabetes care. With the rising threat of COVID-19 infection among diabetic patients, a greater emphasis is being placed on home usage monitoring devices to help diabetic patients control their blood glucose levels. Furthermore, the COVID-19 epidemic has heightened the need of evaluating the viability of continuous glucose monitoring in hospitals in order to continually monitor diabetic patients while limiting healthcare staff exposure.

Global Blood Glucose Monitoring System Market

The global blood glucose monitoring system market is segmented based on product, testing site, indication, end-user, and region. Based on product, the global market is segmented between self-monitoring and continuous glucose monitoring devices. Based on testing sites, the global market is segmented between fingertip testing and alternate site testing. Based on indication, the global market is segmented between type-I diabetes, type-II diabetes, and others. Based on end-user, the global market is segmented by hospitals, clinics, and homecare.

In 2021, the market for blood glucose monitoring systems in North America recorded the highest market share. The rising number of diabetic patients, the expanding use of technologically sophisticated medical equipment, and rising per capita medical costs are just a few of the important drivers driving the regional market's dominance. Because of the rising incidence of insulin-dependent diabetes and the growing number of senior populations in Asia Pacific, the market in this region is expected to grow at a significant rate. Diabetic patients in nations like Japan and Australia are also keen on having their glucose levels checked on a frequent and timely basis. This is in addition to significant players' increased emphasis on expanding their direct presence in emerging nations.

The global blood glucose monitoring system market is dominated by leaders like 

  • Lifescan IP Holdings
  • Glysens Incorporated
  • Senseonics
  • Prodigy Diabetes Care
  • B. Braun Melsungen AG
  • Terumo Corporation
  • ACON Laboratories
  • Medtronic
  • F.Hoffmann-la Roche
  • Sanofi
  • Dexcom Inc
  • Novo Nordisk
  • Insulet Corporation
  • Ascensia Diabetes Care
  • Ypsomed Holdings
  • Nova Biomedical.

Recent Developments:

  • In January 2022, a non-invasive blood glucose testing prototype was invented by Scanbo, that provides blood glucose results in 60 secs. This invention will help cater to diabetic patients who are less comfortable with invasive blood glucose testing methods.
  • In March 2021, Omron Healthcare Inc. announced its expansion plans in India in the year 2021. Omron is a health device manufacturing company and their intention is to increase BGM device retails by 35 to 40%, in India.

Browse the full Blood Glucose Monitoring System Market By Product (Self-Monitoring And Continuous Glucose Monitoring Devices), By Testing Site (Fingertip Testing And Alternate Site Testing), By Indication (Type-I Diabetes, Type-II Diabetes, And Others), By End-User (Hospitals, Clinics, And Homecare), And By Region: Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028. Report at https://www.zionmarketresearch.com/report/blood-glucose-monitoring-system-market

The global blood glucose monitoring system market is segmented as follows:

By Product:

  • Self-monitoring system
  • Continuous glucose monitoring system

By Testing Site:

  • Fingertip testing
  • Alternate site testing

By Indication:

  • Type-I diabetes
  • Type-II diabetes
  • Others

By End-User

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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