The Blood Glucose Monitoring Systems Market size was valued at USD 13.06 billion in 2021 and growing at a CAGR of 7.72% during the forecast period from 2022 to 2027, it is expected to reach USD 20.40 billion by 2027. Some of the key factors, such as the increasing prevalence of diabetes among the population across the globe and the growing burden of the geriatric population, who are susceptible to developing hyperglycemia, are expected to influence the Glucose Monitoring Systems Market in the coming years. Moreover, the growth in the development of technologically advanced blood glucose monitoring devices, favorable initiatives by the government, and raising awareness regarding proper diabetes management will also drive the market.
The key companies operating in the Glucose Monitoring Systems Market include Medtronic, Abbott, F. Hoffmann-La Roche Ltd, LifeScan IP Holdings (Johnson & Johnson), Dexcom Inc., ARKRAY, Inc., Senseonics, WaveForm Technologies, Inc., B. Braun Melsungen AG, Ascensia Diabetes Care Holdings AG., Ypsomed, i-SENS, Inc., Intuity Medical, Inc., ACON Laboratories, Inc., Prodigy Diabetes Care, LLC, Sinocare, Rossmax International Ltd., A. Menarini Diagnostics s.r.l, Bionime Corporation., MEDISANA GMBH, Nemaura., and others.
DelveInsight’s “Blood Glucose Monitoring Systems Market” research report provides the current and forecasted Blood Glucose Monitoring Systems Market size, share, and trends analysis for the next five years, upcoming innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Blood Glucose Monitoring Systems Market Overview
Blood Glucose Monitoring Systems are used to measure the amount of glucose in the fluid inside the body. It can be used at home or in health care settings. The two major types of blood glucose monitors available in the market include self–monitoring Blood Glucose Monitoring Systems and continuous glucose monitoring systems. A Continuous glucose monitoring system can automatically track blood glucose levels, also called blood sugar, throughout the day and night.
DelveInsight’s “Blood Glucose Monitoring Systems Market” report in-depth assessment of the market based on product type (Self-Monitoring Blood Glucose Systems and Continuous Glucose Monitoring Systems), modality (wearable and non-wearable), end-user (hospitals, home care settings, and others), and geography (North America, Europe, Asia-Pacific, and Rest of the World).
As per DelveInsight’s assessment, in the product segment of the Blood Glucose Monitoring Systems, the continuous glucose monitoring systems (CGM) are anticipated to hold a significant market share during the forecasted period. Continuous glucose monitoring systems are expected to dominate the segment owing to several advantages associated with them.
Blood Glucose Monitoring Systems Market Analysis
Blood Glucose Monitoring Systems Market is expected to grow in the coming years owing to the increasing prevalence of diabetes worldwide. As per the data presented by the International Diabetes Federation (2019), about 463 million adults aged between 20-79 years of age were living with diabetes across the globe in the year 2019, which is expected to rise to 700 million by the year 2045. For adequate management of diabetes, proper blood glucose monitoring is necessary, which is expected to increase the demand for Blood Glucose Monitoring Systems in the coming years.
It is observed that the prevalence of both type 2 diabetes and prediabetes grows with advancing age. As per the data presented by United Nations World Population Aging (2019), there were about 703 million persons aged 65 years or over in the world in the year 2019, and the number of older persons is projected to double to 1.5 billion by the year 2050. The geriatric population who are susceptible to developing diabetes is expected to raise the demand for Blood Glucose Monitoring Systems. In addition, the approval and launch of technologically advanced devices will also influence the surge in the market for Blood Glucose Monitoring Systems. However, the high cost associated with Blood Glucose Monitoring Systems will likely impede the market.
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Blood Glucose Monitoring Systems Market – Global Market Assessment and Forecast
As per DelveInsight analysis, among all the regions, North America is expected to hold the major chunk in the overall Blood Glucose Monitoring Systems market in the coming years. North America is expected to dominate the market owing to the rising burden of the diabetic population in the region. As per the CDC, in 2020, “about 34.2 million Americans have diabetes, out of the total diabetic population in the region 15% were smokers, 89% were overweight, and 38% were physically inactive.” According to Diabetes Canada (in the year 2020), approximately 11 million Canadians were affected with diabetes or prediabetes. The growth in the diabetic population in the region is expected to influence the demand for Blood Glucose Monitoring Systems
Additionally, the growing prevalence of obesity, which accounts for between 80 and 85% of the risk of developing type 2 diabetes, will influence the demand for Blood Glucose Monitoring Systems in the coming years. Moreover, the transition in adopting technologically advanced glucose monitoring systems and rigorous glucose monitoring product approvals and launches will contribute to the growth in the regional market.
Moreover, the APAC region also provides immense potential for growth in the Blood Glucose Monitoring Systems market. Some of the key factors, such as the rising burden of the targeted population, the growing geriatric population, improvement in healthcare infrastructure, and increasing disposable income, will also fuel the Blood Glucose Monitoring Systems market in the APAC region.
Interested in knowing how the Global Blood Glucose Monitoring Systems Market will grow by 2027? Click to get a snapshot of Blood Glucose Monitoring Systems Market Trends and Developments
Blood Glucose Monitoring Systems Market – Key Developments and Breakthroughs
Over the years, the Blood Glucose Monitoring Systems Market has evolved significantly owing to the active participation of global MedTech companies and technological advancements in the domain.
- On August 24, 2021, Smart Meter, the leader in cellular-connected remote patient monitoring (RPM) devices, data, and services, announced the availability of its iGlucose monitor for managing gestational diabetes.
- On July 27, 2021, Terumo launched the Dexcom G6 Continuous Glucose Monitoring (CGM) System in Japan, which is manufactured by Dexcom, Inc.
- On February 19, 2020, DexCom, Inc. and Insulet Corporation entered into a commercialization agreement to combine current and future Dexcom continuous glucose monitoring systems (CGM) with Insulet’s trusted tubeless insulin delivery Pod into the Omnipod Horizon™ System for automated insulin delivery, currently in the pivotal trial.
As per DelveInsight, the ongoing clinical & commercial development activities and research in the domain will contribute immensely to the Blood Glucose Monitoring Systems market in the coming years.
Key Companies In the Blood Glucose Monitoring Systems Market
The major MedTech giants in the Blood Glucose Monitoring Systems Market include Medtronic, Abbott, F. Hoffmann-La Roche Ltd, LifeScan IP Holdings (Johnson & Johnson), Dexcom Inc., ARKRAY, Inc., Senseonics, WaveForm Technologies, Inc., B. Braun Melsungen AG, Ascensia Diabetes Care Holdings AG., Ypsomed, i-SENS, Inc., Intuity Medical, Inc., ACON Laboratories, Inc., Prodigy Diabetes Care, LLC, Sinocare, Rossmax International Ltd., A. Menarini Diagnostics s.r.l, Bionime Corporation., MEDISANA GMBH, Nemaura., and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Blood Glucose Monitoring Systems market in the coming years. The entry of new players and the launch of emerging products will immensely drive market growth.
Learn how new players’ entries will transform the Blood Glucose Monitoring Systems Market in the coming years at: Blood Glucose Monitoring Systems’ Competitive Landscape
Scope of the Blood Glucose Monitoring Systems Market Report:
- Geography Covered – Global
- Study Period – 2019-2027
- Blood Glucose Monitoring Systems Market
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- By Product Type – Self-Monitoring Blood Glucose Systems And Continuous Glucose Monitoring Systems
- By Modality – Wearable And Non-Wearable
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- By End-User – Hospitals, Home Care Settings, And Others
- By Geography
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View.
Table of Content
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Blood Glucose Monitoring Systems Market Key factors analysis |
| 5 | Blood Glucose Monitoring Systems Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Blood Glucose Monitoring Systems Market |
| 7 | Blood Glucose Monitoring Systems Market Layout |
| 8 | Blood Glucose Monitoring Systems Global Company Share Analysis – Key 3-5 Companies |
| 9 | Blood Glucose Monitoring Systems Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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Key Takeaways From the Blood Glucose Monitoring Systems Market Report Study
- In-depth analysis of the Blood Glucose Monitoring Systems Market size, share, and key trends.
- Comprehensive analysis of current Blood Glucose Monitoring Systems Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Blood Glucose Monitoring Systems Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Blood Glucose Monitoring Systems Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Blood Glucose Monitoring Systems Market.
- Various opportunities are available for the other competitors in the Blood Glucose Monitoring Systems Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Blood Glucose Monitoring Systems Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Blood Glucose Monitoring Systems Market growth in the coming future?
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