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Blood Glucose Monitoring System Market Size, Share Global Analysis Report, 2021 – 2026
Blood Glucose Monitoring System Market: By Product (Continuous Glucose Monitoring (CGM) System & Self-Monitoring Blood Glucose (SMBG) System), By Modality (Wearable & Non-Wearable), By Type (Non-Invasive & Invasive), By Patient Type (Type 1 Diabetes & Type 2 Diabetes), By Distribution Channel (Institutional Sales & Retail Sales), And By Regions ¬ Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026
Industry Insights
The latest finding surrounding the “Global Blood Glucose Monitoring System Market” published by Facts & Factors offers a neatly packaged and comprehensive read. In this report, the market surrounding blood glucose monitoring system will reach a projected value of USD 10.9 Billion by 2026 growing at a CAGR of 4.6% from an initial value of USD 8.9 Billion in the year 2020.
Market Overview
Blood glucose monitoring devices suggest the usage of a glucose meter for testing the concentration of glucose in the blood stream. This process is considered to be extremely important for managing diabetes and is often perceived by piercing a finger for drawing blood and then applying the blood on a chemically treated “test-strip”. Most manufacturers integrated an electrical characteristic for measuring the blood glucose level in the blood.
Industry Growth Factors
The global blood glucose monitoring system market is driven by contributing factors such as increasing prevalence of the diabetic population coupled with rising number of innovative product launches to name a few. Additionally, a novel development cycle for continuous glucose monitoring systems coupled with increasing consumer awareness regarding blood sugar monitoring measures will increase the footprint of the global blood glucose monitoring system market during the advent of the forecast period. Moreover, rising number of reimbursement policies offered by the government bodies coupled with increasing risk of transmission of coronavirus among the diabetic population will boost the growth of the global blood glucose monitoring system market during the advent of the forecast period.
The global blood glucose monitoring system market is driven by a significant increase in users suffering from type 1 and type 2 diabetes coupled with increasing shift toward sedentary lifestyle to name a few. Rapid urbanization coupled with rising number of manufacturers developing noninvasive CGM systems will fuel the growth of the global blood glucose monitoring system market during the advent of the forecast period. However, lower diagnosis & treatment rates and adoption among emerging economies and a higher rate of error is expected to hamper the growth of the global blood glucose monitoring system market to some extent.
Segmentation Analysis
The global blood glucose monitoring system market is segmented into product, modality, type, patient type, distribution channel, and region.
On the basis of product, the global blood glucose monitoring system market is bifurcated into continuous glucose monitoring (CGM) system and self-monitoring blood glucose (SMBG) system. The segment pertaining to continuous glucose monitoring (CGM) is expected to witness the largest market share during the advent of the forecast period owing to rising adoption of CGM devices among emerging economies coupled with higher usage among type 1 diabetic patients owing to easier functionality and faster results. Based on modality, the global blood glucose monitoring system market is divided into wearable and non-wearable. The segment pertaining to non-wearable devices is expected to witness the largest market share during the advent of the forecast period owing to rising number of product launches by domestic and global manufacturers coupled with increased focus among the key participants on launching and developing better devices to name a few.
On the basis of type, the global blood glucose monitoring system market is categorized into non-invasive and invasive. The segment pertaining to non-invasive is expected to occupy the largest market share during the advent of the forecast period owing to the pain associated with the latter product coupled with increasing number of alternative products to name a few. On the basis of patient type, the global blood glucose monitoring system market is distributed into type 1 diabetes and type 2 diabetes. The segment pertaining to type 2 diabetes is expected to register a largest market share during the advent of the forecast period owing to a larger patient pool suffering from insulin-dependent type 2 diabetes coupled with increased focus among the key participants for developing CGM devices to name a few. On the basis of distribution channel, the global blood glucose monitoring system market is branched out into institutional sales and retail sales. The retail sales category is expected to witness the largest market share during the advent of the forecast period owing to increasing number of retail channels coupled with a rising outbreak of the ongoing pandemic to name a few.
Regional Analysis
North America is expected to witness the largest market share during the advent of the forecast period owing to an increasing patient pool in the region coupled with rising adoption of technologically advanced medical devices to name a few. Additionally, increased spending per capita among the users coupled with rising consumer awareness among the users will fuel the growth of the blood glucose monitoring system market during the advent of the forecast period. Asia-Pacific is expected to witness the fastest growing CAGR during the advent of the forecast period owing to the rising prevalence of insulin-dependent diabetes among the population in the region coupled with rising interest for continuous monitoring activities from emerging economies such as Japan and India to name a few. Moreover, increased focus of the key market participants in expanding their direct presence in the region coupled with rising number of reimbursement policies among the healthcare providers will increase the consumer base for the blood glucose monitoring system market during the advent of the forecast period.
Report Scope
Report Attribute |
Details |
Market Size in 2020 |
USD 8.9 Billion |
Projected Market Size in 2026 |
USD 10.9 Billion |
CAGR Growth Rate |
4.6% CAGR |
Base Year |
2020 |
Forecast Years |
2021-2026 |
Key Market Players |
Abbott, B. Braun Melsungen AG, Dexcom, Inc., Ascensia Diabetes Care Holdings AG, Medtronic, F. Hoffmann-La Roche Ltd., Terumo Corporation, LifeScan, Inc., Senseonics, Inc., Ypsomed, Sanofi, Nipro, ARKRAY, Prodigy Diabetes Care, ACON Laboratories, and Nova Biomedical, among others |
Key Segment |
By Product, By Type, By Patient, By Distribution, and By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Competitive Players
The key market participants for the global blood glucose monitoring system market are :
- Abbott
- B. Braun Melsungen AG
- DexcomInc.
- Ascensia Diabetes Care Holdings AG
- Medtronic
- F. Hoffmann-La Roche Ltd.
- Terumo Corporation
- LifeScan Inc.
- Senseonics Inc.
- Ypsomed
- Sanofi
- Nipro
- ARKRAY
- Prodigy Diabetes Care
- ACON Laboratories
- Nova Biomedical
By Product Segment Analysis
- Continuous Glucose Monitoring (CGM) System
- Self-Monitoring Blood Glucose (SMBG) System
By Modality Segment Analysis
- Wearable
- Non-Wearable
By Type Segment Analysis
- Non-Invasive
- Invasive
By Patient Type Segment Analysis
- Type 1 Diabetes
- Type 2 Diabetes
By Distribution Channel Segment Analysis
- Institutional Sales
- Retail Sales
By Regional Segment Analysis
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Table of Content
Industry Major Market Players
- Abbott
- B. Braun Melsungen AG
- DexcomInc.
- Ascensia Diabetes Care Holdings AG
- Medtronic
- F. Hoffmann-La Roche Ltd.
- Terumo Corporation
- LifeScan Inc.
- Senseonics Inc.
- Ypsomed
- Sanofi
- Nipro
- ARKRAY
- Prodigy Diabetes Care
- ACON Laboratories
- Nova Biomedical
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