The global Blood Glucose Monitoring Devices Market size is expected to reach USD 23.21 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.13% from 2023 to 2030. Patients with diabetes and their healthcare professionals benefit significantly from Blood Glucose Monitoring Devices (BGMD). BGMD is becoming more widely accepted as an important component of intensive diabetic treatment. It allows diabetic patients to measure their blood sugar levels within minutes with ease and convenience wherever they are. The continuous glucose monitoring (CGM) devices help analyze the blood glucose level continuously and in real-time. It also helps patients determine the level of dietary intake and dosage of insulin. In addition, factors such as sedentary lifestyles including consumption of junk food, alcohol, and smoking, and a surge in the need for safer and faster diagnoses are expected to boost the market growth during the forecast period.
According
to the International Diabetes Federation (IDF), the total number of diabetic
patients is expected to expand to 643 million (11.3 %) by 2030 and 783 million
(12.2 %) by 2045. Obesity is one of the major factors propelling the prevalence
of diabetes. Obese individuals are up to 80 times more likely than non-obese
persons to develop diabetes. Studies suggest that 650 million people over the
age of 18 are obese. Further, due to the ongoing efforts by the government and
healthcare organizations such as the International Diabetes Federation (IDF) to
control diabetes, the market is likely to rise at a rapid pace throughout the forecast
period. Through a network of stakeholders and collaborators, these
organizations provide needed expertise and support diabetes awareness
campaigns. Rising health-care funding is also expected to boost market growth.
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List of Key Players in Blood Glucose Monitoring Devices
Market
- Abbott
Laboratories
- Medtronic
plc
- F.
Hoffmann-La Roche Ltd.
- Ascensia
Diabetes Care
- Dexcom, Inc.
- Sanofi
- Novo Nordisk
- Insulet
Corporation
- Ypsomed
Holdings
- GlySens
Incorporated
Related Press
Release@ Blood Glucose Monitoring Devices Market Report
Blood Glucose Monitoring Devices Market Report Highlights
- North
America held the largest revenue share in 2022 owing to favorable
reimbursement policies, local presence of key players, and supportive
government initiatives
- Based on
product, the self-monitoring devices segment held the largest revenue
share of 66.5% in 2022 and is expected to grow at a significant pace over
the forecast period
- The
continuous blood glucose monitoring devices product segment is expected to
be the fastest-growing segment during the forecast period
- In the
self-monitoring devices, the testing strips segment accounted for the
largest revenue share in 2022 owing to the high usage of these strips and
affordability.
- By end-use,
the home care segment is expected to grow at a rapid pace during the
forecast period
Blood Glucose Monitoring Devices Market Segmentation
Grand
View Research has segmented the global blood glucose monitoring devices market
based on product, end-use, and region:
Blood Glucose Monitoring Devices Product Outlook
(Revenue, USD Million, 2018 - 2030)
- Self-monitoring
Devices
- Blood
Glucose Meter
- Testing
Strips
- Lancets
- Continuous
Blood Glucose Monitoring Devices
- Sensors
- Transmitter
& Receiver
- Insulin
Pumps
Blood Glucose Monitoring Devices End-use Outlook
(Revenue, USD Million, 2018 - 2030)
- Hospitals
- Home Care
- Diagnostic
Centers
Blood Glucose Monitoring Devices Regional Outlook
(Revenue, USD Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Denmark
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin
America
- Brazil
- Mexico
- Argentina
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
- UAE
- Kuwait
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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