Blood Glucose Monitoring Devices Market by Product (Self-monitoring {Glucometer, Test Strips, Lancets}, Continuous Glucose Monitoring {Sensors, Receiver, Transmitter}), Diabetes Type, End User (Self/Home Care, Hospital, Clinic) - Global Forecast to 2030

The Blood Glucose Monitoring Devices Market is expected to reach $21.71 billion by 2030 at a CAGR of 7.5% from 2024 to 2030. Blood glucose monitoring devices are used for managing diabetes and monitoring the blood glucose levels of diabetic patients. These devices allow patients to monitor their blood glucose levels in a convenient and minimally invasive manner. The devices perform a quantitative test and provide data on the amount of glucose present in the blood. It helps the patients to manage the disease by monitoring their blood glucose levels and getting medical help when needed.

The growth of this market is driven by the rising prevalence of diabetes, the increasing number of people living unhealthy & sedentary lifestyles, and product innovations in diabetes care. In addition, the growing demand for non-invasive glucose monitoring devices and increasing awareness regarding diabetic health in developing countries are expected to provide significant growth opportunities for this market.

However, the insurance coverage and reimbursement scenarios and product recalls are expected to hinder the growth of this market. In addition, factors such as the large number of people living with undiagnosed diabetes and the high costs of continuous glucose monitoring devices are major challenges to the market’s growth.

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Increasing Prevalence of Diabetes to Drive Market Growth

Diabetes is a chronic disease that occurs when the pancreas does not produce enough insulin or cannot effectively use it effectively to regulate body sugar. According to the International Diabetes Federation, in 2021, the global prevalence of diabetes was estimated to be 537 million, and it is projected to increase to 643 million by 2030 and 783 million by 2045. The significant growth in the diabetic population is primarily attributed to the increasing number of people living sedentary lifestyles with poor diets and lowered physical inactivity. Diabetes prevalence has risen more rapidly in low- and middle-income countries than in high-income countries. These factors are expected to boost the demand for blood glucose monitoring devices in the coming years.

Significant Growth in the Adoption of Continuous Glucose Monitoring Devices Observed in Recent Years

Continuous glucose monitoring (CGM) devices measure glucose levels automatically and store the readings in a monitor. Generally, continuous blood glucose monitoring devices consist of a sensor worn on the body and automatically obtain frequent glucose readings. The data are manually scanned or wirelessly transmitted to a nearby receiver to display the readings. Patients and their physicians can assess patterns in glucose fluctuations, which helps them make informed decisions about nutrition, physical activity, and medication.

In recent years, the continuous glucose monitoring segment has witnessed significant growth due to the increasing adoption of these devices. In addition, the rapid advancements in technology and design have also enabled the increased adoption of these devices by patients and healthcare providers. This market is expected to grow further as the devices become easier to use, less intrusive, and less expensive.

Key Findings of the Blood Glucose Monitoring Devices Market Study:

In 2024, the Self-monitoring Devices Segment is Expected to Dominate the Blood Glucose Monitoring Devices Market

Based on product, the blood glucose monitoring devices market is segmented into self-monitoring devices, continuous blood glucose monitoring devices, and other devices & accessories. In 2024, the self-monitoring devices segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to factors such as the high prevalence of type-2 diabetes, the recurring demand for test strips used in blood glucose monitoring devices, and increased awareness about self-management of diabetes.

In 2024, the Type-2 Diabetes Segment is Expected to Dominate the Blood Glucose Monitoring Devices Market

Based on diabetes type, the blood glucose monitoring devices market is segmented into type-2 diabetes, type-1 diabetes, and gestational diabetes. In 2024, the type-2 diabetes segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to factors such as the large population of people with type-2 diabetes, the increasing number of people living unhealthy lifestyles without any physical activity, and the high prevalence of obesity.

In 2024, the Self/Home Care Segment is Expected to Dominate the Blood Glucose Monitoring Devices Market

Based on end user, the blood glucose monitoring devices market is segmented into self/home care, hospital & clinics, and other end users. In 2024, the self/home care segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to factors such as the increased awareness about self-management of diabetes, the high prevalence of diabetes globally, and the cost-effectiveness offered by blood glucose monitoring devices.

In 2024, Asia-Pacific: The Fastest-growing Regional Market

Asia-Pacific is slated to register the fastest growth rate in the blood glucose monitoring devices market during the forecast period. The growth of this regional market is driven by the increasing diabetic population, especially in countries such as India and China, government initiatives to increase awareness about self-diabetes management, and the increasing awareness of diabetes management among the population.

Key Players

The report includes a competitive landscape based on an extensive assessment of the blood glucose monitoring devices market based on product, diabetes type, end user, and geography. The report also provides insights into the geographic presence of major market players and the key growth strategies they adopted between the last four years.

The key players profiled in the blood glucose monitoring devices market are Abbott Laboratories (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland) (Subsidiary of PHC Holdings Corporation), Becton, Dickinson and Company (U.S.), DexCom, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), LifeScan IP Holdings, LLC (Switzerland) (Subsidiary of Platinum Equity, LLC [U.S.]), Medtronic plc (Ireland), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), and Nipro Corporation (Japan), ARKRAY, Inc. (U.S.), Prodigy Diabetes Care, LLC (U.S.), ACON Laboratories, Inc. (U.S.), Nova Biomedical Corporation (U.S.).

Scope of the Report:

Blood Glucose Monitoring Devices Market, by Product

• Self-monitoring Devices
  • Blood Glucose Meters
  • Test Strips
  • Lancets
• Continuous Blood Glucose Monitoring Devices
  • Sensors
  • Transmitters & Receivers
• Other Devices & Accessories
  (Note: Other Devices & Accessories include Hemoglobin A1c Testing Kits and Non-Invasive Blood Glucose Monitoring Devices.)

Blood Glucose Monitoring Devices Market, by Diabetes Type

• Type-2 Diabetes
• Type-1 Diabetes
• Gestational Diabetes

Blood Glucose Monitoring Devices Market, by End User

• Self/Home Care
• Hospital & Clinics
• Other End Users
  (Note: Other End Users include Physician offices, Ambulatory Care Settings, and Diagnostics Labs.)

Blood Glucose Monitoring Devices Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific
  • China
  • Japan
  • India
  • Indonesia
  • Rest of Asia-Pacific (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America (RoLATAM)
• Middle East & Africa

Key questions answered in the report: