Blood Glucose Monitoring Devices Market Insights:
The Blood Glucose Monitoring Devices Market size was valued at USD 12.65 Billion in 2022, expecting a CAGR of 7.9% during the forecast period (2023-2030), and the market is projected to be worth USD 23.24 Billion by 2030.
Driver:
The increased adoption of Blood Glucose Monitoring Devices in the Medical Devices industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Blood Glucose Monitoring Devices also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Blood Glucose Monitoring Devices in many sectors also boosts the market growth during the forecast period.
Blood glucose monitoring devices are medical devices used to measure the level of glucose, or sugar, in a person’s blood. Glucose monitoring is an important part of managing diabetes, a chronic condition in which the body is unable to regulate the amount of glucose in the blood. Blood glucose monitoring devices come in a variety of forms, including handheld meters, continuous glucose monitoring (CGM) systems, and test strips. Handheld meters are small devices that measure the amount of glucose in a small drop of blood obtained through a finger prick.
Blood Glucose Monitoring Devices Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Device (Continuous Glucose Monitoring (CGM) System, Self-Monitoring Blood Glucose (SMBG) System), By Modality (Wearable, Non-wearable), By Type (Non-invasive, Invasive), By Patient (Type 1 Diabetes, Type 2 Diabetes), By Distribution Channel (Institutional Sales, Retail Sales), and companies (Abbott, B. Braun Melsungen AG, Dexcom, Inc, Ascensia Diabetes Care Holdings AG, Medtronic, F. Hoffmann-La Roche Ltd, Terumo Corporation, LifeScan IP Holdings, LLC, Senseonics), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 7.9%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 23.24 Billion |
| CAGR (2023-2030) | 7.9% |
| By Device | Continuous Glucose Monitoring (CGM) System, Self-Monitoring Blood Glucose (SMBG) System |
| By Modality | Wearable, Non-wearable |
| By Type | Non-invasive, Invasive |
| By Patient | Type 1 Diabetes, Type 2 Diabetes |
| By Distribution Channel | Institutional Sales, Retail Sales |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Abbott, B. Braun Melsungen AG, Dexcom, Inc, Ascensia Diabetes Care Holdings AG, Medtronic, F. Hoffmann-La Roche Ltd, Terumo Corporation, LifeScan IP Holdings, LLC, Senseonics |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Blood Glucose Monitoring Devices market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Abbott, B. Braun Melsungen AG, Dexcom, Inc, Ascensia Diabetes Care Holdings AG, Medtronic, F. Hoffmann-La Roche Ltd, Terumo Corporation, LifeScan IP Holdings, LLC, Senseonics
Market Segment Analysis:
By Device
- Continuous Glucose Monitoring (CGM) System
- Self-Monitoring Blood Glucose (SMBG) System
By Modality
- Wearable
- Non-wearable
By Type
- Non-invasive
- Invasive
By Patient
- Type 1 Diabetes
- Type 2 Diabetes
By Distribution Channel
- Institutional Sales
- Retail Sales
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Blood Glucose Monitoring Devices industries in the region.
Key Blood Glucose Monitoring Devices Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Blood Glucose Monitoring Devices Market segments.
– Largest Market Share Held by Industry to Industry for Blood Glucose Monitoring Devices
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Blood Glucose Monitoring Devices Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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