Blood glucose monitoring devices market to grow by USD 7,488.81 million

The blood glucose monitoring devices market is set to grow by USD 7,488.81 mn from 2023 to 2027 progressing at a CAGR of 8.88% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment.

The market is driven by rising global burden of diabetes. Diabetes is a chronic disease which is characterized by high blood sugar levels. Blood glucose meters are used by diabetics to track their blood sugar levels and adjust their treatment plans accordingly. There is growing awareness among healthcare professionals and patients to maintain tight glycemic control to prevent diabetes-related complications such as kidney disease, blindness, and cardiovascular disease.

The report on the blood glucose monitoring devices market provides a holistic update, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis.

Blood glucose monitoring devices market 2023-2027 – Market dynamics
Market trends
Use of smart watch-based apps is trending in this market: Smart watch-based apps are increasingly used in this market to monitor and track various activities such as heart rate, sleep, physical activity, and other health metrics. These apps use CGM sensors to measure the level of glucose in the user’s interstitial fluid.

Users can monitor their glucose levels without the requirement to carry a separate device or prick their fingers to take a blood sample. This makes it easier for diabetics to manage their condition and maintain good blood sugar control. This helps the patients to take proactive steps for controling their glucose levels, such as dietary adjustments or medication.

Market challenges
Stringent regulatory framework is causing a challenge in this market: Regulatory bodies and agencies such as the US FDA and the European Medicines Agency (EMA) have strict rules and regulations for medical devices to conduct extensive clinical trials which increase operational costs, and delay new product launches, thus hindering market growth during the forecast period.

Blood glucose monitoring devices market 2023-2027 : Market segmentation
The blood glucose monitoring devices market analysis includes end-user, product, and geography landscape. This study identifies the smart watch-based apps, increasing adoption of home healthcare devices, and increased adoption of bundled product marketing strategy as the prime reasons driving the blood glucose monitoring devices market growth during the next few years.

The market share growth will be driven by the hospitals segment during the forecast period. Hospitals use blood glucose meters to treat diabetes in patients, monitor blood glucose levels during surgery, and monitor critically ill patients who are at risk of high or low blood sugar levels.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters.

Companies mentioned

• Abbott Laboratories
• Ascensia Diabetes Care Holdings AG
• Bigfoot Biomedical Inc.
• Dexcom Inc.
• DiaMonTech AG
• F. Hoffmann La Roche Ltd.
• GlySens Inc.
• Health Arx Technologies Pvt. Ltd.
• Insulet Corp.
• Level2 Medical Services P.A.
• Levels Health Inc.
• Medtronic Plc
• Medtrum Technologies Inc.
• Novo Nordisk AS
• PKvitality S.A.S.
• Sanofi SA
• Senseonics Holdings Inc.
• SFC Fluidics Inc.
• Teladoc Health Inc.
• Ypsomed AG

Vendor offerings

• Abbott Laboratories – The company offers blood glucose monitoring bgm devices such as FreeStyle Libre.
• Ascensia Diabetes Care Holdings AG – The company offers a range of blood glucose monitoring systems such as CONTOUR NEXT Blood Glucose Monitoring Systems, CONTOUR PLUS Blood Glucose Monitoring Systems, and Diabetes Management Solutions.
• Dexcom Inc. – The company offers blood glucose monitoring bgm devices such as G6 and G7.

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