Blood Glucose Monitoring Systems Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031

During the last four decades, continuous advances in glucose monitoring have led to improved blood glucose meters, non-invasive glucose monitoring (NGM) devices, and continuous glucose monitoring systems (CGMS). Blood glucose monitoring is an integral part for diabetes management and aids in maintaining blood glucose concentration. This is the only way for a person with diabetes to avoid life-threatening diabetic complications. The advantages of blood glucose monitoring systems are that they provide real-time feedback, help detect glycemic excursions and patterns, and inform patients/users to make changes in lifestyle and medications.

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Global Blood Glucose Monitoring Systems Market Revenue Outlook:

The global blood glucose monitoring systems market was valued at US$ 9.7 Bn in 2020 and is projected to register а САGR of 4.8% by 2031.

Nonetheless, various industry players in the global blood glucose monitoring systems market are now increasing their focus towards the establishment of successful collaborations, acquisitions, and joint venture activities as a means to enhance their respective customer bases. In doing so, these players are also increasing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.

Some Leading Continuous Glucose Monitoring Systems And Their Brand Specifications

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Diabetes Worldwide Data For 2019, 2030, & 2024

Major Factor Boosting The Growth Of The Blood Glucose Monitoring Systems Is?

Worldwide the prevalence of diabetes for all ages is increasing due to the rapidly growing population, aging, urbanization, and the growing prevalence of obesity and physical inactivity. Prevalence is increasing worldwide, especially in low- and middle-income countries. The epidemiology is growing due to factors such as poor hygiene, sedentary lifestyle, and genetic factors.

• According to World Health Organization (WHO), the total number of individuals with diabetes is projected to increase from 171 Mn in 2000 to 366 Mn in 2030.

According To The International Diabetes Federation Number Of People With Diabetes In (000's Mn)

High Cost & Inadequate Reimbursements Scenario Hamper The Market Growth

The cost of the blood glucose monitoring systems varies depending upon the brands and type. Continuous glucose monitoring systems are more expensive than self-monitoring blood glucose systems. Also, fluctuation in raw materials pricing coupled with the restrictions in export and import activities due to COVID-19 is likely to impact the production, which is expected to hamper the market growth.

When patients' health insurance plans cover the devices, they usually are covered at a rate of 80% as durable medical equipment rather than being treated as a pharmaceutical item. The lack of adequate reimbursements policies in some developing or under-developing countries may hamper the market growth to a certain extent.

Regional Analysis

Why Is Demand For Blood Glucose Monitoring Systems High In The North America Region?

The demand for blood glucose monitors is high in the US and Canada, owing to the increasing prevalence of diabetes due to sedentary lifestyles and unhealthy eating habits. Additionally, health authority favorable reimbursements, various awareness programs by the government, and rising number of Food & drug administration (FDA) approvals of blood glucose monitor is further expected to fuel the growth of the target market.

• According to the National Diabetes Statistics Report published in 2020, published by the US Department of Health & Human Services, new diabetes cases have increased over the last decade. About 34.2 million people of all ages, or 10.5% of the U.S. population, has diabetes.

Sales Of The Leading Blood-Glucose Meter Brands In The US 2020 (Mn)

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Competitive Landscape

The blood glucose monitoring systems landscape appears highly consolidated, with a significant chunk of it being dominated by the US players.

• Abbott Laboratories
• Medtronic plc
• Hoffmann-La Roche Ltd.
• Bayer AG
• Lifescan, Inc.
• Dexcom, Inc.
• Sanofi
• Elly Lilly and Company
• B Braun Melsungen AG
• Other Players

Some notable developments in the market include:

• In March 2021, F. Hoffmann-La Roche AG launched a new product 'Accu-Chek Instant system. The system connects the blood glucose monitoring system to intelligent mobile phones and helps the companys' aim if integrated Personalised Diabetes Management (iPDM).
• In November 2020, Abbott Laboratories, the U.S.–based medical devices and health care company launched The FreeStyle Libre System in India. The device includes a coin-size sensor fixed onto the upper arm and a reader that helps the person monitor their sugar levels continuously and share them with a doctor.
• In January 2019, the US-based company Medtronic plc launched Guardian Connect – the world's first intelligent continuous glucose monitoring system in collaboration with Eris Lifesciences. The system is connected with smartphone displays for tracking real-time data of glucose levels.

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered for Global Blood Glucose Monitoring Systems Market

Blood Glucose Monitoring Systems Market, By Product Type

• Self-Monitoring Blood Glucose Systems
  • Blood Glucose meters
  • Testing strips
  • Lancets & Lancing Devices
• Continuous Glucose Monitoring Systems
  • Sensors
  • Transmitters
  • Receivers

Blood Glucose Monitoring Systems Market, By Application

• Type 2 Diabetes
• Type 1 Diabetes
• Gestational Diabetes

Blood Glucose Monitoring Systems Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Medical Stores
• Diabetes Clinics

Blood Glucose Monitoring Systems Market, By End Users

• Hospitals & Clinics
• Home Care

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