Press release
Global Blood Glucose Meters Market: Strong Growth Projected Through 2029, Backed by Rising Diabetes Prevalence and Technological Advancements
Blood Glucose Meters Market
What Is The Projected Market Size Of The Global Blood Glucose Meters Market And Its Growth Rate?
The blood glucose meters market is experiencing substantial growth, primarily due to rising diabetes rates and heightened awareness of disease management.
•2024 Market Size: $14.64 billion
•2025 Market Size: $16.5 billion (12.7% CAGR)
•2029 Market Size: $25.86 billion (11.9%
CAGR)
The above growth can be attributed to home healthcare trends, expansive insurance coverage, and patient empowerment. Trends such as continuous glucose monitoring (CGM), smartphone connectivity, and use of artificial intelligence further bolster growth projections.
What Is Driving The Growth In The Blood Glucose Meters Market?
The global surge in diabetes prevalence is a significant driver of the blood glucose meters market. Lifestyles shifts including increased alcohol consumption, physical inactivity and unhealthy eating habits, are triggering a rise in obesity rates worldwide. The subsequent metabolic response induces diabetes, resulting in increased sales of blood glucose meters. Enhanced access to advanced monitoring technologies has equally contributed to market growth. This was exemplified by the U.S National Health Service (NHS), which in December 2022, expanded access to continuous glucose monitoring (CGM) devices for around 200,000 diabetes patients.
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Who Are the Key Players Driving Blood Glucose Meters Market Growth?
•Roche Diagnostics
•Abbott Laboratories
•Medtronic
•Bayer Healthcare
•LifeScan Inc. (Johnson & Johnson)
•Ascensia Diabetes Care
•ARKRAY Inc.
•Dexcom Inc.
•Bionime Corporation
•Ypsomed AG
•Nova Biomedical
•ForaCare Inc.
•AgaMatrix Inc.
•Entra Health Systems
•i-SENS Inc.
•Prodigy Diabetes Care
•Infopia Co. Ltd.
•Omron Healthcare Inc.
•HMD Biomedical Inc.
•77 Elektronika Kft
•Trividia Health Inc.
•Nipro Corporation
•Beijing Yicheng Bioelectronics Technology Co. Ltd.
•All Medicus Co. Ltd.
•Sinocare Inc.
•Bioland Technology
What Are The Key Trends In The Blood Glucose Meters Market?
•Technological advancements in monitoring devices
•Integration of continuous glucose monitoring (CGM)
•Enhanced smartphone connectivity
•Development of portable and miniaturized devices
•Emphasis on data analytics and insights
•Adoption of telehealth and remote monitoring
What Are The Segments Of The Global Blood Glucose Meters Market?
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
Which Region Leads The Blood Glucose Meters Market?
In 2024, North America stood as the largest market for blood glucose meters, followed by Western Europe. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Blood Glucose Meters Market Global Market Report?
- Market Size Analysis: Analyze the Blood Glucose Meters Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Blood Glucose Meters Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Blood Glucose Meters Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Blood Glucose Meters Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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