The blood glucose monitoring systems global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Blood Glucose Monitoring Systems Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The blood glucose monitoring systems market size has grown strongly in recent years. It will grow from $15.30 billion in 2023 to $16.48 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increased cases of diabetes globally, greater awareness leading to increased adoption of monitoring systems, supportive policies for diabetes management, improved access to healthcare facilities, and improved accuracy of glucose meters.
The blood glucose monitoring systems market size is expected to see strong growth in the next few years. It will grow to $22.28 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to tailored treatment plans using glucose data, increasing prevalence of diabetes, rising geriatric population, increasing adoption in developing regions, enhanced connectivity, and data management. Major trends in the forecast period include integration with wearable and smart devices, advancements in sensor technology, personalized medicine, telehealth, and remote monitoring, and enhanced connectivity and data management.
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Scope Of Blood Glucose Monitoring Systems Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Blood Glucose Monitoring Systems Market Overview
Market Drivers –
The rising prevalence of the diabetic population is expected to propel the growth of the blood glucose monitoring systems market going forward. The prevalence of the diabetic population is rising due to factors such as sedentary lifestyles, unhealthy diets, aging populations, and genetic predisposition. Blood glucose monitoring systems are used for monitoring and managing blood sugar levels, aiding disease control, and preventing complications. For instance, in July 2021, according to the International Diabetes Federation, a Belgium-based national diabetes association, the total number of people living with diabetes is expected to increase to 643 million by 2030 and 783 million by 2045. Three out of four adults with diabetes reside in low- and middle-income countries. Therefore, the rising prevalence of the diabetic population will drive the blood glucose monitoring systems market.
Market Trends –
Major companies operating in the glucose monitoring systems market are focused on developing innovative glucose monitoring systems such as advanced hybrid closed-loop systems and smartphone apps for real-time data access and management. Advanced hybrid closed-loop systems refer to glucose monitoring systems that automate insulin delivery based on real-time glucose levels, improving blood sugar control in individuals with diabetes. For instance, in February 2024, DexCom Inc., a US-based continuous glucose monitoring systems manufacturing company, launched Dexcom ONE+ in several European countries. Dexcom ONE+ incorporates the company’s best-in-class sensor technology and features designed to provide an easy-to-use, highly effective continuous glucose monitoring (CGM) experience for people with type 1 or type 2 diabetes who use insulin. The system consists of a water-resistant sensor, a transmitter that sends CGM readings, and a Dexcom One smartphone-compatible app. Dexcom ONE+ allows for real-time monitoring of blood glucose by both the user and up to ten additional people, enabling shared monitoring.
The blood glucose monitoring systems market covered in this report is segmented –
1) By Type: Non-Invasive, Invasive
2) By Device Type: Continuous Glucose Monitoring Systems, Self-Monitoring Blood Glucose Systems
3) By Testing Site: Fingertip Testing, Alternate Site Testing
4) By Distribution Channel: Institutional Sales, Retail Sales
5) By Application: Type 2 Diabetes, Type 1 Diabetes, Gestational Diabetes
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Regional Insights –
North America was the largest region in the blood glucose monitoring systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blood glucose monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the blood glucose monitoring systems market are F. Hoffmann-La Roche Ltd., Sanofi S.A., Medtronic plc, Novo Nordisk A/S, B. Braun Melsungen AG, Terumo India Private Limited, Dexcom Inc., SD Biosensor Co. Ltd., Arkray Inc., Abbott India Limited, Ypsomed Holding AG, LifeScan IP Holdings LLC, Ascensia Diabetes Care Holdings AG, TaiDoc Technology Corporation, Nemaura Medical Inc., Bionime GmbH, Acon Laboratories Inc., Nipro India Corporation Private Limited., Rossmax International Ltd, AgaMatrix Inc., A. Menarini Diagnostics S.r.l. , Medisana GmbH, Intuity Medical Inc.
Table of Contents
1. Executive Summary
2. Blood Glucose Monitoring Systems Market Report Structure
3. Blood Glucose Monitoring Systems Market Trends And Strategies
4. Blood Glucose Monitoring Systems Market – Macro Economic Scenario
5. Blood Glucose Monitoring Systems Market Size And Growth
…..
27. Blood Glucose Monitoring Systems Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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