Blood Glucose Monitoring Devices Market 2022 Key Players, SWOT Analysis, Key Indicators, Forecast and COVID-19 Impact Analysis 2026

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Shibuya Data Count

Jan 02, 2022, 23:26 EST

Shibuya-ku, Tokyo, Japan, Japan, Jan 02, 2022, 23:26 /Comserve / -- The global blood glucose monitoring devices market by revenue is expected to grow at a CAGR of 12% during the period 2022–2026.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Blood Glucose Monitoring Devices Market Report

The global blood glucose monitoring devices market by revenue is expected to grow at a CAGR of 12% during the period 2021–2026.

The diabetes monitoring industry is growing at a steady rate because of the increasing prevalence of diabetes and the rise in chronic diseases. Globally, the incidence of diabetes has been increasing at an alarming rate due to changing lifestyles, growing alcohol consumption, and an increasing number of smokers. In emerging markets and newly industrializing countries, the number of new diabetes cases is expected to grow in the coming years significantly. Therefore, monitoring of blood glucose levels has proven to be essential for the management of the disease. The increasing awareness of diabetes is likely to increase the blood glucose monitoring devices market demand.

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The following factors are likely to contribute to the growth of the blood glucose monitoring devices market during the forecast period:
• Increase in Diabetic Population
• Increased Demand for Self-Monitoring Devices due to Covid-19 Pandemic
• Emergence of Non-invasive Blood Glucose Monitoring Devices

The study considers the present scenario of the blood glucose monitoring devices market and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Global Blood Glucose Monitoring Devices Market Segmentation
The global blood glucose monitoring devices market research report includes a detailed segmentation by product, end-users, usage, distribution channels, geography. The conventional blood glucose monitoring devices market accounted for a share of over 78%. One of the major factors contributing to conventional blood glucose monitoring devices' growth is the increasing diabetic population globally, which is expected to reach over 578 million by 2030. The rise in obesity and the increase in the aging population in developed countries are other major factors that are obliquely influencing blood glucose monitoring devices market growth. Test strips, lancets and lancing devices, and meters & software are the major components that have been covered under the conventional blood glucose monitoring devices market.

A high prevalence of diabetes and changes in lifestyles have increased the usage of personal glucose monitoring devices. The need to monitor blood sugar levels is increasing the usage of these devices. Advances in technology have been playing an important role in the proliferation of BGM devices. The introduction of wireless glucose monitoring systems, which can be operated on a smartphone using Wi-Fi protocols, helps patients remotely monitor their sugar levels. In developed countries such as the UK, Spain, Germany, Italy, and the UK, self-monitoring glucose meter and CGM devices are completely reimbursed, making these devices cost-efficient, thereby driving patient usage.

The online channel is growing significantly in developing countries such as India and China. The increased competition among online vendors has affected the device cost, with high discounts driving consumers to opt for online stores. With the increasing smartphone usage in developing countries, the online distribution channel is likely to emerge as an important distribution channel. Hence, the high preference for online channels is likely to augur well for medical devices' growth, especially blood glucometers.

The individual segment accounted for the largest glucose monitoring devices market share due to the wide acceptance of self-monitoring devices worldwide. These devices are majorly covered by insurance companies in several developed and developing countries. Morbidity and mortality from diabetes are extremely high in underdeveloped countries due to poor adherence to global diabetic guidelines. Therefore, the scope of self-testing is likely to increase among diabetic patients. Furthermore, the introduction of advanced devices with remote monitoring features has encouraged patients to use personal blood glucose monitoring devices.

By Product
• Conventional Blood glucose monitoring (BGM) Devices
o Blood Glucose Meters & Software
o Test Strips
o Lancing Devices & Lancets
• Continuous Glucose Monitoring (CGM) Devices
o Disposable Sensors
o Reusable Hardware
By Usage
• Personal BGM Devices
• Professional BGM Devices
By End-user
• Hospitals
• Individuals
• Others
By Distribution Channel
• Offline Stores
• Online Stores

North America dominated the blood glucose monitoring devices market due to its developed healthcare infrastructure and increased awareness of glucose monitors among patients. The usage of continuous glucose monitoring systems and self-monitoring blood glucose systems is high in the region. The US and Canada account for the majority of the blood glucose monitoring devices market share. The adoption of these devices is extremely high in the US. The usage of these devices has increased in the region as they are covered under medical reimbursement schemes. Hence, the demand for BGM devices is growing because of easy access to diabetic care, medical reimbursement coverage, and high affordability. Besides, the usage of BGM devices has increased with the outbreak of the COVID-19 pandemic as the virus is highly contiguous and increases the susceptibility of diabetic patients. Hence, the outbreak has increased the scope of self-monitoring BGM devices.

By Geography
• North America
o US
o Canada
• Europe
o UK
o Germany
o France
o Italy
o Spain
o China
o Japan
o South Korea
o Australia
o India
• Latin America
o Brazil
o Mexico
o Argentina
o Columbia
• Middle East & Africa
o Saudi Arabia
o South Africa
o Turkey
o Iran

The global glucose monitoring devices market share is intensely competitive, subject to rapid technological changes, and is significantly affected by new product launches and other market activities. Medtronic’s Diabetes Group, F. Hoffmann-La Roche’s Diabetes Care, LifeScan, Abbott’s Diabetes Care Division, DEXCOM, and Ascensia Diabetes Care are the major global players operating in the blood glucose monitoring system market. Currently, these companies collectively account for significant shares. Several companies are developing or commercializing products for continuous and self-monitoring blood glucose devices in the market. The Medtronic Diabetes Group promotes a standalone sugar monitoring product, Guardian Connect, which has launched both internationally and in the US after receiving FDA approvals.

Prominent Vendors
• Abbott
• Hoffmann-La Roche
• DexCom
• Medtronic
• Ascensia Diabetes Care Holdings
• LifeScan

Other Prominent Vendors
• 77 Elektronika Kft
• Menarini Diagnostics
• ApexBio
• AgaMatrix
• Alliance International
• Andon Health
• Braun Melsungen
• Bionime
• Beurer
• Bioptik
• ForaCare
• Hannox International
• Integrity Applications
• i-SENS
• Nova Biomedical
• Nemaura
• OK Biotech
• OSANG Healthcare
• Sanofi
• Terumo
• Trividia Health
• Rossmax International
• Ypsomed

Get A PDF Sample For More Detailed Market Insights:-

1. What is the estimated forecast of global blood glucose monitoring devices market size in 2026?
2. What is the opportunity for non-invasive blood glucose monitor market?
3. What is the growth projection of continuous blood glucose monitoring devices market share?
4. Who are the top players in the blood sugar monitoring market?
5. What is the market share of self-monitoring of blood glucose (SMBG)?

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Lauren Brown

Shibuya Data Count
Tel: + 81 50 50509159

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