Blood Glucose Monitoring System Market

Industry Overview

The global blood glucose monitoring devices market is expected to grow from USD 14.42 billion in 2023 to USD 23.21 by 2030 at a compound annual growth rate (CAGR) of 8.25% during the forecast period ranging from 2025 to 2030.

Blood glucose monitoring systems are typically used for the testing of blood glucose level in the body. These specially designed devices play an important role in supporting patients with diabetes in many ways. Firstly, these devices empower both patients and healthcare professionals to detect high or low blood glucose levels and enable timely adjustments to the treatment plans. This protective measure enhances well-being of patients by enhancing self-care practices and offering greater control over diabetes management.

The global blood glucose monitoring system market is growing at significant rate due to growing prevalence of diabetes in elderly population and due to continual development of blood glucose monitoring products as well as growing adoption of minimally invasive procedures. Higher awareness of preventive measures and introduction of new products also fuels market growth.

The high cost of blood glucose monitoring products is the primary factor that hinders the growth of the global blood glucose monitoring systems market. The highly regulated market and capital-intensive nature prevents new entrants and market expansion. However, the strong distribution channel offers significant market growth opportunities as it helps to meet the growing demand for diabetic care device.

Market Segmentation

Insight by Product

The global blood glucose monitoring system market is divided by products into self-monitoring blood glucose systems and continuous monitoring blood glucose system. Out of these two segments, the continuous monitoring blood glucose system market is expected to grow at the higher rate due to growing adoption of minimally invasive procedure.

Insight by Testing Site

The global blood glucose monitoring system market is divided by testing site into fingertip testing and alternate site testing segments. Out of these two segments, the fingertip testing is the most common technique used for measurement of blood glucose level and therefore will grow more during the forecast period. It is also attributed to the higher accuracy and reliability of fingertip testing.

Insight by Application

The global blood glucose monitoring system market is divided by the end-users into hospitals and clinics, and home care segments. Out of these segments, the home care segment is expected to hold the largest share during the forecast period and is also expected to grow at higher rate due to growing diabetic population, rise in the number of innovative product launches that will enhance patient comfort, and the growing awareness of the benefits of regular monitoring of glucose levels.

Insight by Patient Care Setting

The global blood glucose monitoring system market is divided by the end-users into hospitals and clinics, and home healthcare segments. Out of these segments, the home care segment is expected to hold the largest share during the forecast period and is also expected to grow at higher rate due to growing diabetic population, rise in the number of innovative product launches that will enhance patient comfort, and the growing awareness of the benefits of regular monitoring of glucose levels.

Global Blood Glucose Monitoring System Market Report Coverage

Report Metric	Details
Historical Period	2018 - 2023
Base Year Considered	2024
Forecast Period	2025 - 2030
Market Size in 2024	U.S.D.  14.42 Billion
Revenue Forecast in 2030	U.S.D.  23.21 Billion
Growth Rate	8.25%
Segments Covered in the Report	By Product, By Testing Site, By Application and By Patient Care Setting
Report Scope	Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
Regions Covered in the Report	North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World

Industry Dynamics

Industry Trends

A significant trend in the market is the substantial innovation in blood glucose monitoring devices including developments in microminiaturization, transcutaneous devices, and new sensor technologies. In addition, several market players are involved in strategic merger and acquisition activities to expand their geographic reach and enter new market territories to address diverse healthcare needs. Customization of products is happening at a notable pace to meet regional preferences as well as regulatory requirements.

Growth Drivers

The rapid increase in aging population who are prone to chronic diseases and diabetes is the primary growth drivers for blood glucose monitoring system market. In addition, the growing adoption of continuous sugar surveillance system and technological developments to develop more convenient and smaller devices propel the market growth. In addition, the rising healthcare expenditure across the globe, especially in emerging markets, offers greater accessibility and supports market growth. Apart from that, the growing trend towards personalized diabetes management for modified treatment plans, rising demand for remote patient monitoring and telehealth services, integration of blood glucose monitoring data with EHR systems facilitates, and strategic collaborations between healthcare providers and technology companies are expanding market reach and fueling its growth.

Challenges

The invasiveness of blood glucose monitors is a significant concern that is also a notable hindrance to higher adoption and expansion of the global blood glucose monitoring systems market. In addition, inadequate reimbursement of blood glucose monitoring devices and supplies resulting in the inability of a major portion of the population in the developing economies to avail testing strips and blood glucose monitors as well as the limitation on the supply of testing strips per patient in a few developing countries like Europe and Canada are also hindering the growth of the market.

Opportunities

The rise in global prevalence of diabetes due to growing aging population and lifestyle changes creates a significant growth opportunity for the blood glucose monitoring systems. It is also attributed to the continuous advancements in technology, growing adoption of non-invasive systems for improved comfort and convenience, favorable regulatory policies and reimbursement frameworks in many countries, growing awareness among patients about the benefits and significance of regular monitoring of blood glucose for diabetes management encourages market growth.

Geographic Overview

North America holds the largest share of the blood glucose monitoring system market due to the favorable reimbursement policies. It is expected to grow during the forecast period due to the growing awareness programs and rising FDA approvals. In addition, the growing prevalence of diabetes in the region also fuels the market growth.

Asia-Pacific also will witness growth at a faster rate due to the growing demand for blood glucose monitoring products as well as growing prevalence and awareness of diabetes. The rise in healthcare expenditure and the large population base of the region are also propelling the growth of the blood glucose monitoring systems market.

Competitive Insight

Key players in the blood glucose monitoring system market are investing in the development of innovative and advance products, which is strengthening their position in the market. Abbott Laboratories, B. Braun Melsungen, F. Hoffmann-La Roche, Ypsomed, Lifescan, Medtronic, Ascensia Diabetes Care, Dexcom, Nipro and Sanofi are the key players offering blood glucose monitoring products.

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Green Oaks, Illinois, United States. 

F. Hoffmann-La Roche AG, commonly known as Roche, is a Swiss multinational holding healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Its holding company, Roche Holding AG, has shares listed on the SIX Swiss Exchange. The company headquarters are located in Basel.

Recent Developments by Key Players

Roche launched its new analytical units, cobas c 703 and cobas ISE neo, for the cobas pro integrated solutions, in countries accepting the CE mark. The cobas pro integrated solutions is a scalable and modular diagnostic platform designed for high-volume laboratories. The cobas c 703 and cobas ISE neo analytical units offer cutting-edge features to help address some of the key challenges faced by diagnostic laboratories worldwide such as shortage of qualified staff and space limitations.

Abbott has launched its innovative automation solutions, GLP systems Track, to support laboratories’ high-volume needs. India is now the world’s most populous nation, and the population is experiencing rising chronic disease burden.

Industry Segmentation

The Blood Glucose Monitoring System Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

Segments Covered in the Report

• By Product
  • Self-monitoring blood glucose systems
  • Continuous monitoring blood glucose system
• By Testing Site
  • Fingertip testing
  • Alternate site testing
• By Application
  • Type I
  • Type II
  • Gestational diabetes
• By Patient Care Setting
  • Hospitals
  • Clinics
  • Home care

Geographical Segmentation

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

Source: VynZ Research