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Blood Glucose Meters Global Market Report 2024 - By Share, Size, Demand, Report, Outlook By 2033
The Business Research Company presents an extensive market research report on the Blood Glucose Meters Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The blood glucose meters market size has grown strongly in recent years. It will grow from $17.32 billion in 2023 to $18.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increasing diabetes prevalence, rise in awareness of diabetes management, growing aging population, home healthcare trends, insurance coverage and reimbursement policies, patient empowerment.
The blood glucose meters market size is expected to see strong growth in the next few years. It will grow to $26.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to continuous glucose monitoring (cgm) integration, smartphone connectivity, artificial intelligence (ai) applications, focus on wearable devices, remote patient monitoring. Major trends in the forecast period include technological advancements in monitoring devices, continuous glucose monitoring (cgm) integration, smartphone connectivity, miniaturization and portability, data analytics and insights, telehealth and remote monitoring.
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Key Market Players:
Major companies operating in the blood glucose meters market report are Johnson & Johnson, Roche Holding AG, Bayer AG, Abbott Laboratories, Medtronic plc, Becton & Dickinson and Co., B Braun Medical lnc., Dexcom Inc., Tandem Diabetes Care, LifeScan lnc., Ascensia Diabetes Care, Lifespan Corporation, Medisana GmbH, I Sens Inc., Infopia Co.Ltd., Rossmax International Ltd., 77 Elektronika Kft, ACON Laboratories lnc., Arkray Inc., Bionime Corporation, Agamatrix Inc., Prodigy Diabetes Care LLC, DiaMon Tech GmbH, Mendor, Hainice Medical lnc., Nipro Corporation, Omron Healthcare lnc., Trivida Functional Medicine, All Medicus Co. Ltd., Sanofi S.A., Nova Biomedical Corporation, The Ypsomed Group
Market Drivers:
The rising prevalence of diabetes is driving the blood glucose meters market. The changing lifestyle, increase in alcohol consumption, physical inactivity, and unhealthy eating habits are leading to an increase in obesity across the globe. Such exponential growth in obese people is causing a stern increase in the purchase of blood glucose meters. Due to obesity, fat tissues release more fat molecules into the blood affecting insulin-responsive cells, which results in reduced insulin sensitivity, in turn, causing diabetes. According to the study by the International Diabetes Federation (IDF), there will be a 48% increase in diabetes around the world by 2045. According to the International Diabetes Federation (IDF) in 2021, nearly 537 million people were suffering from diabetes.
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https://www.thebusinessresearchcompany.com/report/blood-glucose-meters-global-market-report
The blood glucose meters market covered in this report is segmented -
1) By Product type: Electrode Type Blood Glucose Meter, Photoelectric Blood Glucose Meter
2) By Application: Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes
3) By End User: Hospitals, Home Care
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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