Blood Glucose Monitoring Devices Market to be Worth $21.71 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Blood Glucose Monitoring Devices Market by Product (Self-monitoring {Glucometer, Test Strips, Lancets}, Continuous Glucose Monitoring {Sensors, Receiver, Transmitter}), Diabetes Type, End User (Self/Home Care, Hospital, Clinic) - Global Forecast to 2030.'

According to this latest publication from Meticulous Research®, the blood glucose monitoring devices market is projected to reach $21.71 billion by 2030, at a CAGR of 7.5% from 2023 to 2030. The growth of this market is driven by the rising prevalence of diabetes, the increasing number of people living sedentary lifestyles, and product innovations in diabetes care.

In addition, the growing demand for non-invasive glucose monitoring devices and increasing awareness regarding diabetic health in developing countries are expected to provide significant growth opportunities for this market.

However, the insurance coverage and reimbursement scenarios and product recalls are expected to hinder the growth of this market. In addition, factors such as the large number of people living with undiagnosed diabetes and the high costs of continuous glucose monitoring devices are major challenges to the market's growth.

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Future Outlook

The blood glucose monitoring devices market is segmented based on product, diabetes type, end user, and geography. The study also evaluates industry competitors and analyzes the market at the county and regional levels.

Based on product, in 2023, the self-monitoring devices segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to the advantages offered by self-monitoring devices, including cost-efficiency, ease of access, ease of use, and wide availability of these devices.

Based on diabetes type, in 2023, the type-2 diabetes segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to the increased prevalence of type-2 diabetes due to the increasing number of people living unhealthy lifestyles without physical activity.

Based on end user, in 2023, the self/home care segment is expected to account for the largest share of the blood glucose monitoring devices market. The large market share of this segment is attributed to the large patient population utilizing blood glucose monitoring devices for self-management of diabetes and its advantages, such as convenience and cost-effectiveness.

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This research report analyzes the market across major regions and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

In 2023, North America is expected to account for the largest share of the blood glucose monitoring devices market, followed by Europe and Asia-Pacific. North America's major market is attributed to the factors such as high awareness about diabetes management, high adoption of newer technologies such as continuous glucose monitoring, and higher purchasing power of the population.

Key Players:

The key players operating in the blood glucose monitoring devices market include Abbott Laboratories (U.S.), Ascensia Diabetes Care Holdings AG (Switzerland) (Subsidiary of PHC Holdings Corporation), Becton, Dickinson and Company (U.S.), DexCom, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), LifeScan IP Holdings, LLC (Switzerland) (Subsidiary of Platinum Equity, LLC [U.S.]), Medtronic plc (Ireland), Ypsomed Holding AG (Switzerland), B. Braun Melsungen AG (Germany), and Nipro Corporation (Japan), ARKRAY, Inc. (U.S.), Prodigy Diabetes Care, LLC (U.S.), ACON Laboratories, Inc. (U.S.), and Nova Biomedical Corporation (U.S.).

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Scope of the Report:

Blood Glucose Monitoring Devices Market, by Product

Self-monitoring Devices
Blood Glucose Meters
Test Strips
Lancets
Continuous Blood Glucose Monitoring Devices
Sensors
Transmitters & Receivers
Other Devices & Accessories
(Note: Other Devices & Accessories include Hemoglobin A1c Testing Kits and Non-Invasive Blood Glucose Monitoring Devices.)

Blood Glucose Monitoring Devices Market, by Diabetes Type

Type-2 Diabetes
Type-1 Diabetes
Gestational Diabetes

Blood Glucose Monitoring Devices Market, by End User

Self/Home Care
Hospital & Clinics
Other End Users
(Note: Other End Users include Physician offices, Ambulatory Care Settings, and Diagnostics Labs.)

Blood Glucose Monitoring Devices Market, by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific
China
Japan
India
Indonesia
Rest of Asia-Pacific (RoAPAC)
Latin America
Brazil
Mexico
Argentina
Rest of Latin America (RoLATAM)
Middle East & Africa

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/blood-glucose-monitoring-devices-market-5470

About Meticulous Research®

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The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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This release was published on openPR.