Blood glucose monitoring devices are used to test and monitor blood glucose or sugar levels in diabetic patients. These compact and easy-to-use monitoring devices offer patients quick reliable measurements of their glucose levels without pricking the body with needles each time. The increasing prevalence of diabetes across the world has boosted the demand for self-monitoring blood glucose devices significantly. With growing awareness about diabetes management, more patients are regularly checking their glucose levels through self-monitoring devices to control their condition better.
The global Blood Glucose Monitoring Market is estimated to be valued at US$ 25460.51 Mn in 2023 and is expected to exhibit a CAGR of 0.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of advanced self-monitoring blood glucose devices is one of the major trends witnessed in the market. Leading manufacturers are continuously focusing on developing innovative portable and smart devices integrated with advanced technologies like data connectivity and cloud computing. This allows patients to conveniently monitor their glucose levels and share reports with their care providers online. The availability of such advanced self-care blood glucose monitoring solutions is expected to boost their adoption over the forecast period and drive the overall market growth.
Segment Analysis
The global blood glucose monitoring market size is segmented by product, application, end user and geography. Based on product, the blood glucose monitoring market is segmented into self-monitoring blood glucose systems and continuous glucose monitoring systems. The continuous glucose monitoring systems segment dominated the market in 2024 and is expected to continue its dominance over the forecast period due to advancements in continuous glucose monitoring technologies and growing adoption among diabetic patients.
Key Takeaways
The global blood glucose monitoring market is expected to witness high growth. The global Blood Glucose Monitoring Market is estimated to be valued at US$ 25460.51 Mn in 2023 and is expected to exhibit a CAGR of 0.8% over the forecast period 2024 to 2031.
The North American region dominated the global blood glucose monitoring market in 2024 and is expected to continue its dominance over the forecast period. This is attributed to high prevalence of diabetes, growing geriatric population, increasing health awareness and technological advancements. However, the Asia Pacific region is expected to witness the highest growth rate over the forecast period due to growing medical expenditure, increasing diabetes cases and medical device companies focusing on emerging markets in the region.
Key players related content comprises:
Key players operating in the blood glucose monitoring market are Air Techniques, Inc., Maguire Refining, Inc., Solmetex, Durr Dental, Medentex GmbH, MARS Bio-Med Processes Inc., Dove Dental Products, METASYS, Crosstex International, Inc., Capsule Technologies Inc., A B Dental Trends, Inc., American Dental Accessories, Inc.,and Rebec Environmental. Continuous technological advancements to enhance the accuracy and efficiency of blood glucose monitoring devices is the key focus of these players.
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