Glucometer Market Size and Forecast 2024-2033|Johnson & Johnson Services Inc., Bayer AG, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Medtronic plc.

Geriatric male nurse measures the blood sugar level of a patient

The Glucometer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Glucometer Global Market Report 2024, The glucometer market size has grown rapidly in recent years. It will grow from $13.15 billion in 2023 to $14.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to insurance coverage, consumer education, healthcare industry integration, healthcare awareness programs.

The glucometer market size is expected to see rapid growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to the rising prevalence of diabetes, increasing healthcare infrastructure expenditure, growing geriatric population, increasing demand for self-monitoring devices. Major trends in the forecast period include artificial intelligence in healthcare, remote monitoring and telehealth, advancements in technology, and increasing collaboration

The increase in the prevalence of diabetes is driving the demand for the glucometer market going forward. Diabetes is a long-lasting metabolic condition. It is characterized by high blood glucose (also known as blood sugar) levels, which over time cause significant harm to the heart, blood vessels, eyes, kidneys, and nerves. People who are suffering from diabetes use a glucometer to monitor their blood glucose levels. Therefore, with an increase in diabetes among people, the demand for glucometers is also increasing. For instance, in December 2021, according to the statistics published by International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20-79 years) recorded living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide will have diabetes. Therefore, the increase in the prevalence of diabetes drives the glucometer market.

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The glucometer market covered in this report is segmented –

1) By Product: Continuous Glucose Monitoring Devices, Self-Monitoring Blood Glucose System

2) By Technique: Invasive, Non-Invasive

3) By Distribution Channel: Institutional Sales, Hospitals, Clinics, Retail Sales, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Major companies operating in the glucometer market are focused on product innovations such as automatic blood glucose monitoring systems to simplify routine blood glucose monitoring for people with diabetes. An automatic blood glucose monitoring system is a device that enables the automatic estimation of blood glucose levels throughout the day and night. This technology eliminates the need for traditional periodic blood glucose monitoring methods, such as drawing a drop of blood from a finger, by continuously measuring and displaying blood glucose information. For instance, in November 2021, Intuity Medical Inc., a US-based monitoring device company, launched an automatic blood glucose monitoring system called POGO Automatic in the US. The POGO automatic blood glucose monitoring system features One-StepTM technology with a 10-test cartridge that eliminates the need for any other supplies. This system only requires the press of a button to test and does not need separate supplies like test strips and lancets, making testing less disruptive to a user’s everyday use.

The glucometer market report table of contents includes:

1. Executive Summary

2. Glucometer Market Characteristics

3. Glucometer Market Trends And Strategies

4. Glucometer Market – Macro Economic Scenario

5. Global Glucometer Market Size and Growth

26. South America Glucometer Market

27. Brazil Glucometer Market

28. Middle East Glucometer Market

29. Africa Glucometer Market

30. Glucometer Market Competitive Landscape And Company Profiles

Top Major Players: