Blood Glucose Meter Market Size, Share, Trends, Demand, Growth Forecast, Segmentation and Revenue Outlook

The market for Blood Glucose Meter worldwide was worth $13.7 billion US dollars. AMR Group projects that the market will reach US$ 25.18 billion by 2031, growing at a CAGR of 8.6 percent between 2022 and 2031.

A blood glucose meter is a medical tool that gauges a person's blood's glucose level. It is a crucial tool for diabetics who must constantly check their blood sugar levels. A lancet or equivalent method for drawing blood, test strips that are coated with chemicals that react with glucose, and a handheld gadget are the typical components of blood glucose metres. A little amount of blood is drawn from the user's finger, applied to the test strip, and then the strip is placed into the metre. The blood glucose level is then shown on a screen by the metre. Blood glucose meters are available in various sizes and designs, and some are equipped with additional features such as memory to store test results, alarms to remind the user to test their blood sugar, and the ability to transfer data to a computer or smartphone app.

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The global blood glucose meter market is driven by various factors such as the rising prevalence of diabetes, increasing geriatric population, growing awareness about self-monitoring of blood glucose levels, and technological advancements in blood glucose monitoring devices. The increasing incidence of diabetes, especially type 2 diabetes, is one of the primary factors driving the growth of the blood glucose meter market. According to the International Diabetes Federation (IDF), the global prevalence of diabetes was 9.3% in 2019, and it is estimated to increase to 10.2% by 2030. The rising geriatric population is also contributing to the growth of the market as the elderly are more prone to diabetes and require regular blood glucose monitoring. Moreover, increasing awareness about the importance of self-monitoring of blood glucose levels among diabetic patients is driving the demand for blood glucose meters. Blood glucose meters enable diabetic patients to track their blood glucose levels and make appropriate lifestyle changes, thereby helping them manage their condition more effectively.

Top key Players of Blood Glucose Meter Market:
Roche Holding AG
Johnson & Johnson
Abbott Laboratories
Ascensia Diabetes Care Holdings AG
Dexcom
Becton
Dickinson and Company
Sanofi
Medtronic plc
Ypsomed Holding AG

Market Segmented by Types:
Continuous Glucose Monitoring Systems (CGM)
Self-Monitoring Blood Glucose Systems (SMBG)

Market Segmented by Application:
Hospitals
Clinics
Retail Pharmacies
Online Pharmacies

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Global Blood Glucose Meter Market: Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets of various marketspaces. The key players in the markets are identified through secondary research, and their market contributions in different applications across regions and globally were determined through primary and secondary research. This entire process included the study of the annual and financial reports of the top market players and extensive interviews for key insights with industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources. All the possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analysed to arrive at the final quantitative and qualitative data. This data has been consolidated, and detailed inputs and analysis from Analytics Market Research added before being presented in this report.

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