Top Factor Driving Self-Monitoring Blood Glucose (SMBG) Devices Market Growth in 2025: Rising Prevalence Of Diabetes Drives Self-Monitoring Blood Glucose Devices Market Growth

What combination of drivers is leading to accelerated growth in the self-monitoring blood glucose (smbg) devices market?
The escalating occurrence of diabetes is projected to enhance the expansion of the self-monitoring blood glucose device market in the foreseeable future. Self-monitoring blood glucose devices are tools that individuals with diabetes use to check their blood sugar levels, which facilitates the adjustments or monitoring of the effectiveness of their regimen including diet, exercise, insulin, and antidiabetics based on the readings. For example, in March 2024, the Office for Health Improvement & Disparities, a UK government body, reported that between March 2022 and March 2023, the number of individuals with type 1 diabetes who underwent all eight advised care processes experienced a 22% increase. For those with type 2 diabetes, there was an increase of 21%. Moreover, the proportion attaining target HbA1c levels surged to 37.9%, the most significant figure ever recorded by the National Diabetes Audit (NDA). Thus, the increasing incidence of diabetes is fueling the expansion of the self-monitoring blood glucose devices market.

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What is the projected compound annual growth rate (CAGR) of the self-monitoring blood glucose (smbg) devices market from 2025 to 2034, and what factors influence it?
The market size for self-monitoring blood glucose (SMBG) devices has seen considerable growth in the past few years. The market is projected to expand from $15.23 billion in 2024 to $16.28 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the historical period include escalating prevalence of diabetes, enhanced healthcare awareness, an aging demographic, government measures and rules, and increased healthcare expenditure.

In the forthcoming years, a significant escalation is projected for the self-monitoring blood glucose (SMBG) devices market size. It is estimated to expand to $22.75 billion in 2029 with a compound annual growth rate (CAGR) of 8.7%. This increase during the predicted period is due to factors like the emergence of home healthcare, expansion of telehealth, increase in disposable income, growing requirement for remote monitoring, and a surge in e-commerce. The major forthcoming trends include integration of continuous glucose monitoring (CGM), applications of artificial intelligence (AI) and machine learning, wearable smbg devices, non-invasive monitoring, and developments in mobile applications and connectivity.

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How are the latest trends influencing the growth of the self-monitoring blood glucose (smbg) devices market?
The progression of technology is a significant trend gaining traction in the market for self-monitoring blood glucose devices. Core businesses in this market are focusing on the creation of products incorporating the latest technologies, in an effort to solidify their market position. For instance, Know Labs Inc., a US-based manufacturer of glucose monitoring equipment, has unveiled a novel portable, medical-grade glucose monitor called KnowU. The Bio-RFID technology used in this gadget allows for non-invasive glucose monitoring. The device includes a base that powers it and shows readings, and a battery-operated monitor equipped with Bio-RFID sensors, which users can carry to check their sugar levels anytime, anywhere. This product proves to be a cost-effective and convenient alternative to other pricier and more uncomfortable blood glucose monitoring devices.

What are the major segments of the self-monitoring blood glucose (smbg) devices market and their role in driving growth?
The self-monitoring blood glucose (SMBG) devices market covered in this report is segmented -

1) By Product: Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics & Centers
3) By Application: Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes

Subsegments:
1) By Self-Monitoring Blood Glucose Meters: Traditional Glucose Meters, Smart Glucose Meters
2) By Continuous Glucose Monitors (CGMs): Real-Time CGMs, Flash Glucose Monitoring Systems
3) By Testing Strips: Standard Testing Strips, Test Strips for Specific Meters
4) By Lancets: Standard Lancets, Safety Lancets

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Which regions are key players in the growth of the self-monitoring blood glucose (smbg) devices market?
North America was the largest region in the self-monitoring blood glucose (SMBG) devices market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the self-monitoring blood glucose (SMBG) devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the key firms paving the way for growth in the self-monitoring blood glucose (smbg) devices market?
Major companies operating in the self-monitoring blood glucose (SMBG) devices market include Abbott Laboratories, Bionime Corporation, B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd, LifeScan Inc, PHC Holdings Corporation, Home Diagnostics Inc, Terumo Pharmaceutical Solutions, ARKRAY Inc, Ypsomed Holding AG, Dexcom Inc, Medtronic plc, Novo Nordisk A/S, Glysens Incorporated, Senseonics Holdings Inc., AgaMatrix Inc., All Medicus Co. Ltd., Ascensia Diabetes Care Holdings AG, Bayer AG, Becton Dickinson and Company, Bio-Rad Laboratories Inc., Bioptik Technology Inc., Cnoga Medical Ltd., ForaCare Inc., Glucovation Inc., Hainice Medical Inc., Infopia Co. Ltd., Insulet Corporation, Integrity Applications, Johnson & Johnson, Menarini Diagnostics, Nemaura Medical Inc., Nipro Corporation, Nova Biomedical Corporation, Omron Healthcare Inc., Optiscan Biomedical Corporation, OrSense Ltd., Pinnacle Technology Inc., Prodigy Diabetes Care LLC, PTS Diagnostics, TaiDoc Technology Corporation, Trividia Health Inc., WaveForm Technologies Inc.

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What Is Covered In The Self-Monitoring Blood Glucose (SMBG) Devices Global Market Report?

•Market Size Forecast: Examine the self-monitoring blood glucose (smbg) devices market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the self-monitoring blood glucose (smbg) devices market for a structured understanding.
•Key Players Overview: Analyze major players in the self-monitoring blood glucose (smbg) devices market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the self-monitoring blood glucose (smbg) devices market.
•Segment Contributions: Evaluate how different segments drive overall growth in the self-monitoring blood glucose (smbg) devices market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the self-monitoring blood glucose (smbg) devices market.
•Industry Challenges: Identify potential risks and obstacles affecting the self-monitoring blood glucose (smbg) devices market.
•Competitive Landscape: Review strategic developments in the self-monitoring blood glucose (smbg) devices market, including expansions, agreements, and new product launches.

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