Diabetes Monitoring Devices Market Size, Share, Trends, Growth and Forecast 2032

Diabetes Monitoring Devices Market Insights

According to a report from Zion Market Research, the global Diabetes Monitoring Devices Market was valued at USD 21.98 Billion in 2023 and is projected to hit USD 47.94 Billion by 2032, with a compound annual growth rate (CAGR) of 8.1% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Diabetes Monitoring Devices Market industry over the next decade.The report offers an assessment and analysis of the Diabetes Monitoring Devices market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2023 along with a forecast from 2023 to 2032 based on revenue (USD Billion).

Request Free Sample

Diabetes Monitoring Devices Market: Overview

Diabetes has become one of the major causes of death across the globe in recent years. Hence, breakthroughs are witnessed in blood glucose monitoring systems for effectively detecting diabetes in patients and this will drive market trends. Citing an instance, the use of non-invasive blood glucose monitoring tools is gaining momentum across the medical & healthcare sectors for effectively measuring diabetes in persons. Additionally, Bluetooth low energy sensor is considered an apt tool for detecting key signs of diabetes in persons. So, a personalized healthcare monitoring tool makes use of this sensor device, machine learning algorithm, and real-time data processing method in not only determining diabetes but also effectively handling chronic conditions.

Diabetes Monitoring Devices Market: Growth Dynamics

A rise in the intake of alcohol due to stress caused as a result of a hectic work schedule will prompt the expansion of diabetes monitoring devices industry over the upcoming years. Apart from this, the surge in the acceptance of wearable diabetes monitoring equipment, acceptance of insulin patches, and sensor-driven smart insulin pumps for self-diagnosis of diabetes will proliferate the market size. Furthermore, timely monitoring of unexpected or fluctuating glucose help in determining the severity of diabetes in the person, and this will encourage the expansion of the diabetes monitoring devices industry in the upcoming years. Moreover, the rise in the number of diabetics across the globe and the launching of new & low-cost diabetes monitoring devices will contribute substantially towards the market value in the upcoming years.

In addition to this, with the rise in the incidences of COVID-19 cases across the globe and the disease posing more threat to the life of diabetes patients, there is the growing use of diabetes monitoring equipment. This, in turn, will create value for the products as well as increase market profitability within the span of the next few years.

Request Free Sample

Diabetes Monitoring Devices Market: Report Scope

Europe To Dominate Overall Market Growth By 2032

The market in Europe over 2024-2032 is anticipated to witness a tremendous expansion owing to a surge in diabetics in the continent along with low costs of insulin devices resulting in high sales in the region. Apart from this, the presence of giant firms manufacturing this equipment will culminate in humungous penetration of the product in the continent, thereby resulting in value creation for the business. This, in turn, will steer the growth of the regional market over the upcoming years.

Key Market Players & Competitive Landscape

Key players profiled in the study include

• Tandem Diabetes Care
• PHC Holdings
• Hoffmann-La Roche Ltd.
• Novo Nordisk A/S
• Braun Melsungen AG
• Medtronic Corporation
• BD
• Abbott Laboratories
• Sanofi.

The global Diabetes Monitoring Devices Market is segmented as follows:

By Product

• Lancing Devices
• Testing Strips
• Blood Glucose Meters

By Distribution Channel

• Institutional Sales
• Retail Sales

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