Blood Glucose Monitoring Market - Industry Size, Share, Growth

Blood glucose monitoring involves measuring and logging blood glucose levels, analyzing the information, and sharing it with care providers who provide personalized support to cope with the disease. Blood glucose monitoring observes patterns in the fluctuation of blood glucose (sugar) levels that occur in response to diet, exercise, medications, and or pathological processes associated with blood glucose fluctuations such as diabetes. Unusually high or low blood glucose levels can potentially lead to acute and or chronic, life-threatening conditions. Blood glucose level (BGL) or blood sugar level (BSL) monitoring undertaken in the home/community are often referred to as capillary blood glucose (CBG) tests, while blood glucose tests conducted at clinical facilities may include CBG, and (plasma glucose) venous blood tests. Advancements in glucose self-monitoring technologies like the light diffusion method, and wearable-mounted sensors have made the monitoring process automated and reliable as the patients can assess and check their glucose levels at any time, and doctors can use the collated data to make informed decisions.

𝐓𝐨 𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 - https://univdatos.com/get-a-free-sample-form-php/?product_id=34714

The Blood Glucose Monitoring Market is expected to grow at a growth rate of around 7% during the forecast period (2022-2028) owing to the rising incidence of diabetes and the increasing geriatric population prone to diabetes and increasing awareness regarding diabetic prevention care is fueling the growth in blood glucose monitoring market. According to the estimations of the International Diabetes Federation (IDF), in 2021, around 537 million adults were suffering from diabetes, and it is projected to reach around 783 million by 2045. With the increasing prevalence of diabetic patients globally, it is critical for patients to regularly monitor their blood glucose levels to avoid an episode of hyperglycemia.

Based on product type, the blood glucose monitoring market is segmented into self-monitoring blood glucose (SMBG) and continuous glucose monitoring (CGM). Self-monitoring blood glucose devices accounted for the largest share of revenue in 2020. Easy availability of self-monitoring blood glucose devices, high consumer awareness, ease of use, low cost, accurate and immediate feedback, and reimbursement policies in some countries contribute to the demand for self-monitoring.

Based on the distribution channel, the blood glucose monitoring market is segmented into institutional and retail sales. The retail sale segment captured a substantial market share in 2020 due to increasing initiatives by market players to expand their presence through retail channels in emerging as well as developing countries in order to strengthen their position. In March 2021, OMRON Healthcare India has outlined its plans to expand its retail presence in South India to strengthen the availability and practice of home healthcare monitoring.

North America to witness extensive growth

In 2020, North America held the largest share of the blood glucose monitoring market, due to the large patient pool, well-established healthcare facilities, new product launches, and wide acceptance of advanced technologies. According to International Diabetes Federation (IDF), 51 million adults (20-79) are living with diabetes in the North America and Caribbean Region in 2021. This figure is estimated to increase to 57 million by 2030 and 63 million by 2045. For instance, in November 2021 FDA cleared the POGO Automatic Blood Glucose Monitoring System a new type of blood sugar monitoring system is now available in the United States that allows users to test with a single button-push instead of finger-sticking or inserting test strips into a meter.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the blood glucose monitoring market are Abbott; B. Braun SE; DexCom, Inc.; Ascensia Diabetes Care Holdings AG; Medtronic plc; F. Hoffmann-La Roche Ltd.; Terumo Corporation; LifeScan IP Holdings, LLC; Senseonics; OMRON Corporation.

“Global Blood Glucose Monitoring Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

Market Segmentation:

1. By Product Type (Self-Monitoring Blood Glucose (SMBG) and Continuous Glucose Monitoring (CGM))

2. By Modality Type (Wearable and Non-Wearable)

3. By Distribution Channel (Institutional and Retail)

4. By Region (North America, Europe, Asia-Pacific, Rest of the World)

5. By Company (Abbott; B. Braun SE; DexCom, Inc.; Ascensia Diabetes Care Holdings AG; Medtronic plc; F. Hoffmann-La Roche Ltd.; Terumo Corporation; LifeScan IP Holdings, LLC; Senseonics; OMRON Corporation)

Key questions answered in the study:

1. What are the current and future trends of the global blood glucose monitoring industry?

2. How the industry has been evolving in terms of product type, modality type, and distribution channel?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global blood glucose monitoring industry?

5. What is the customer orientation, purchase behavior, and expectations from the global blood glucose monitoring suppliers across various region and countries?