Global Blood Glucose Monitoring System Market is valued at approximately USD 16.46 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.2% over the forecast period 2024-2032. Blood glucose monitoring devices are essential tools for patients managing type 1 and type 2 diabetes, enabling them to measure glucose levels in their blood accurately. The increasing prevalence of diabetes worldwide has significantly expanded the patient pool requiring regular glucose monitoring. Advances in device technology and supportive reimbursement policies are anticipated to fuel market growth.
The Institute for Health Metrics and Evaluation (IHME) estimated in 2023 that the global prevalence of diabetes stands at 6.1%, making it one of the top ten leading causes of death and disability. In April 2023, the Medicare program expanded access to continuous glucose monitoring (CGM) systems, removing previous requirements for multiple daily insulin injections. The COVID-19 pandemic further accelerated market growth as diabetic patients sought home-based monitoring solutions. Key players have reported increased revenue in diabetes care, highlighting the pandemic's positive impact on the market.
The market is experiencing robust growth due to the rising penetration of CGM systems. These systems offer real-time monitoring, minimal invasiveness, and precise results, which are shifting the preference of healthcare providers and patients towards CGM over traditional self-monitoring blood glucose (SMBG) systems. For instance, Abbott reported an increase in Freestyle Libre users from 4.5 million in 2022 to 5.0 million in 2023. Companies in Europe are developing non-invasive CGM devices, further driving market growth. The growing prevalence of diabetes, especially in emerging countries, has expanded the patient pool requiring blood glucose monitoring. Urbanization and sedentary lifestyles are major contributors to the rising diabetes rates. The International Diabetes Federation estimated in 2021 that around 537 million adults had diabetes, with significant contributions from China, India, the U.S., Brazil, and Mexico. The adoption of CGM devices is increasing, with over 7 million people using them for daily diabetes management worldwide. This, along with favorable reimbursement policies and new product introductions, is fueling market growth from 2024-2032. However, the high cost of CGM systems limits their adoption in emerging countries. The costs associated with these devices, including sensors, transmitters, and consumables, are a significant barrier.
The key regions considered for the Global Blood Glucose Monitoring System Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a dominating region in the Global Blood Glucose Monitoring System Market in terms of revenue. The market growth in the region is being attributed to factors including the rising number of diabetes patients, growing adoption of advanced medical devices, and high per capita medical expenses. Whereas, the market in Europe is anticipated to grow at the fastest rate over the forecast period fueled by heightened awareness of diabetes management and the rising demand for home monitoring systems.
Major market players included in this report are:
Abbott (U.S.)
B. Braun SE (Germany)
Dexcom, Inc. (U.S.)
Ascensia Diabetes Care Holdings AG (Switzerland)
Medtronic (Ireland)
F. Hoffmann-La Roche Ltd (Switzerland)
Terumo Corporation (Japan)
LifeScan IP Holdings, LLC (U.S.)
Senseonics (U.S.)
Roche Holding AG
Sanofi S.A.
Novo Nordisk A/S
Johnson & Johnson
Ypsomed AG
ARKRAY, Inc.
The detailed segments and sub-segment of the market are explained below:
By Device Type:
Continuous Glucose Monitoring Systems
Self-Monitoring Blood Glucose Systems
By Modality:
Wearable
Non-wearable
By Type:
Non-invasive
Invasive
By Patient Type:
Type-1 Diabetes
Type-2 Diabetes
By Distribution Channel:
Institutional Sales
Retail Sales
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.
