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Blood Glucose Monitoring Device Market Report Scope & Overview:

The Blood Glucose Monitoring Device Market Size was valued at USD 13.53 billion in 2023, and is expected to reach USD 24.94 billion by 2031, and grow at a CAGR of 7.94% over the forecast period 2024-2031.

The development of diabetes patients is driving more interest for the blood glucose monitoring.  A self-monitoring device assists patients with checking blood glucose levels without anyone else. There is an assortment of parts on the lookout. Glucometers, lancets and test strips are essential assortments on the lookout. There are a lot of elements that cause diabetes in patients. Corpulence prompts type 2 diabetes. The unfortunate way of life and sedimentary way of life of individuals is expanding glucose levels.

Blood Glucose Monitoring Device Market Revenue Analysis

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A gadget could assist with recognizing hypo and hyperglycemic conditions. In the forecast period, the blood glucose monitoring device will have good circumstances. The home setting section of the market is seeing high benefits. Through home testing, the patients have some control over glucose levels effectively. Assuming the glucose level is high visiting medical clinics for additional therapy is simple with the gadgets. The element of any blood glucose monition system is sensors, transmitters, and screens. These highlights and advantages of the gadgets will prompt gigantic market advancements.

Market Dynamics

Drivers

  • Realizing the exact glucose levels in the blood is easy.

  • Recognition of diabetes.

  • Increasing demand in the market.

Restraints

  • Lower analysis.

  • Deferring the treatment for the sickness.

  • Awareness to the framework.

Opportunities

  • Simple access of these monitoring device will prompt.

  • The government drives to help preventive consideration.

  •  clinical gadgets accessible from home.

Challenges

  • The low repayment approaches.

  • Many patients don't have an idea how to use it.

  • The High price of the device.

Impact of COVID-19

The COVID-19 pandemic has opened new open doors for blood glucose monitoring devices and these devices acquired fame in the diabetic consideration market. Mindfulness with respect to the advantages of blood glucose monitoring devices expanded among the buyers as, during the pandemic, there had been an accentuation on the utilization of virtual centers and telemedicine for diabetic administration. The blood glucose monitoring device assisted patients and medical services suppliers with improving glycemic control and possibly increment patient self-administration, subsequently changing diabetes care altogether. Further, a flood in the interest for blood glucose monitoring devices because of the fast reaction by significant market players during the Covid-19 pandemic.

Key Market Segments:

By Product

Self-monitoring Devices:

  • Blood Glucose Meter

  • Testing Strips

  • Lancets

Continuous Blood Glucose Monitoring Devices

  • Sensors

  • Transmitter & Receiver

  • Insulin Pumps

By End-use

  • Hospitals

  • Home Care

  • Diagnostic Centers

Blood Glucose Monitoring Device Market Segmentation Analysis

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Regional Analysis

North America gained a significant portion of itself observing the blood glucose gadgets market, inferable from high-frequency pace of diabetes in the locale. Also, the presence of vital participants in the area supplements the development of the market. In any case, Asia-Pacific is supposed to develop at the quickest rate during the figure time frame, because of the expansion in the pervasiveness pace of diabetes in the area. Furthermore, the nations in the district like India and China, have the most elevated populace base, which is undiscovered with diabetes. Moreover, the continually advancing medical services industry drives the development of the market in creating economies.

REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • south Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

Key Players:

The Key Players are Medtronic plc, Sanofi, Ascensia Diabetes Care, Dexcom, Inc., Abbott Laboratories, Insulet Corporation, Ypsomed Holdings, Novo Nordisk, Glysens Incorporated, F. Hoffmann-La Roche Ltd and Others.

Sanofi-Company Financial Analysis

Company Landscape Analysis

Blood Glucose Monitoring Device Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 13.53 Billion
Market Size by 2031  US$ 24.94 Billion
CAGR  CAGR of 7.94% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product (Self-monitoring Devices, Continuous Blood Glucose Monitoring Devices)
• By End-Use (Hospitals, Home Care, Diagnostic Centers)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Medtronic plc, Sanofi, Ascensia Diabetes Care, Dexcom, Inc., Abbott Laboratories, Insulet Corporation, Ypsomed Holdings, Novo Nordisk, Glysens Incorporated, F. Hoffmann-La Roche Ltd.
DRIVING FACTORS • Realizing exact glucose levels in the blood is easy.
• Recognition of diabetes.
• Increasing demand in the market.
Restraints • Lower analysis.
• Deferring the treatment for the sickness.
• Awerness  to the framework.

Frequently Asked Questions

Ans: The Blood Glucose Monitoring Device Market Size was valued at USD 12.54 billion in 2022.

  • Realizing exact glucose levels in the blood is easy.

  • Recognition of diabetes.

  • Increasing demand in the market.

Ans: North America is dominate the Blood Glucose Monitoring Device Market.

  • The low repayment approaches.

  • Many patients don't have an idea how to use it.

Ans: forecast period of Blood Glucose Monitoring Device Market is 2023-2030.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. Global blood glucose monitoring device market  Segmentation, by Product Outlook

8.1 Self-monitoring Devices:

8.1.1 Blood Glucose Meter

8.1.2 Testing Strips

8.1.3 Lancets

8.2 Global Continuous Blood Glucose Monitoring Devices:

8.2.1 Sensors

8.2.2 Transmitter & Receiver

8.2.3 Insulin Pumps

9. Global blood glucose monitoring device market Segmentation, by  End-use Outlook

9.1 Hospitals

9.2 Home Care

9.3 Diagnostic Centers

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2     Canada

10.2.3     Mexico

10.3        Europe

10.3.1     Germany

10.3.2     UK

10.3.3     France

10.3.4     Italy

10.3.5     Spain

10.3.6     The Netherlands

10.3.7     Rest of Europe

10.4        Asia-Pacific

10.4.1     Japan

10.4.2     South Korea

10.4.3     China

10.4.4     India

10.4.5     Australia

10.4.6     Rest of Asia-Pacific

10.5        The Middle East & Africa

10.5.1     Israel

10.5.2     UAE

10.5.3     South Africa

10.5.4     Rest

10.6        Latin America

10.6.1     Brazil

10.6.2     Argentina

10.6.3     Rest of Latin America

11. Company Profiles

11.1 Abbott Laboratories

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Medtronic plc

11.3 Sanofi

11.4 Ascensia Diabetes Care

11.5 Dexcom, Inc.,

11.6  Insulet Corporation

11.7 Ypsomed Holdings

11.8 Novo Nordisk

11.9 Glysens Incorporated

11.10  F. Hoffmann-La Roche Ltd.

12. Competitive Landscape

12.1 Competitive Benchmarking

12.2 Market Share Analysis

12.3 Recent Developments

13.Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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