Rising Prevalence Of Diabetes Drives Self-Monitoring Blood Glucose Devices Market Growth Driving Market Acceleration in the Self-Monitoring Blood Glucose (SMBG) Devices Industry, 2025

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How Large Will the Self-Monitoring Blood Glucose (SMBG) Devices Market Size By 2025?
The market for Self-Monitoring Blood Glucose (SMBG) devices has seen robust growth lately. It's projected to rise from its $15.23 billion size in 2024 to reach $16.19 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 6.3%. This surge in growth during the previous years can be linked to factors such as an increase in diabetes cases, advancements in healthcare consciousness, an aging demographic, government support and policies, and an escalation in healthcare expenditure.

How Big Is the Self-Monitoring Blood Glucose (SMBG) Devices Market Size Expected to Grow by 2029?
In the coming years, the market size of self-monitoring blood glucose (smbg) devices is predicted to undergo substantial growth, reaching $22.35 billion by 2029, with a compound annual growth rate (CAGR) of 8.4%. This growth during the forecast period can be tied to the increase in home healthcare, the expansion of telehealth, a surge in disposable income, growing demand for remote monitoring, and a rise in e-commerce. The forecast period is also expected to witness significant trends, including the integration of continuous glucose monitoring (CGM), the use of artificial intelligence (AI) and machine learning, the advent of wearable smbg devices, non-invasive monitoring techniques, and the development of mobile applications and connectivity.

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Which Key Market Drivers Powering Self-Monitoring Blood Glucose (SMBG) Devices Market Expansion and Growth?
The escalating incidences of diabetes are projected to spur the expansion of the self-monitoring blood glucose device market in the future. The application of self-monitoring blood glucose involves people suffering from diabetes utilizing a glycemic reading tool to gauge their blood sugar (glucose meter) levels, enabling them to adjust or track the efficacy of their treatment plan (such as diet, exercise, insulin, antidiabetics) or consult their doctor based on the test outcomes. For example, the Office for Health Improvement & Disparities, a governmental department in the UK, reported in March 2024 that from March 2022 to March 2023, the proportion of individuals with type 1 diabetes undergoing all eight suggested care procedures surged by 22%, and for type 2 diabetes, it climbed by 21%, while the percentage achieving the targeted HbA1c levels reached its peak at 37.9% as reported by the National Diabetes Audit (NDA). Hence, the escalating prevalence of diabetes is fueling the expansion of the market for self-monitoring blood glucose devices.

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What Are the Key Trends Driving Self-Monitoring Blood Glucose (SMBG) Devices Market Growth?
Emerging technology is an increasing trend in the self-monitoring blood glucose devices market. Prominent companies in this market are investing in advanced technology to solidify their market standing. For instance, Know Labs Inc., a company based in the U.S that specializes in glucose monitoring devices, has introduced a new portable, medical-grade glucose monitoring device named KnowU which employs Bio-RFID technology. This non-invasive device has a powered base that operates and presents readings, accompanied by a battery-powered monitor consisting of Bio-RFID sensors that users can carry to monitor sugar levels anytime, anywhere. The KnowU offers a cost-effective and more comfortable alternative to other costly and discomforting blood glucose monitoring devices.

What Are the Emerging Segments in the Self-Monitoring Blood Glucose (SMBG) Devices Market?
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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Who Are the Global Leaders 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.

Which are the Top Profitable Regional Markets for the Self-Monitoring Blood Glucose (SMBG) Devices Industry?
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.

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