Global Glucose Meters Market – Industry Trends and Forecast to 2029

Global Glucose Meters Market, By Product (Continuous Glucose Monitoring Devices, Self-Monitoring Blood Glucose (SMBG) Systems), Type (Photoelectric Blood Glucose Meter, Electrode Type Blood Glucose Meter), Technique (Invasive, Non-Invasive), Ergonomics (Wearable, Non-Wearable), Distribution Channel (Institutional Sales, Retail Sales), Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), End-User (Hospitals, Home Care)– Industry Trends and Forecast to 2029

Market Analysis and Size

Growing number of diabetes individuals around the world is driving the market for glucose metres. The development of improved blood glucose metres has boosted the market even more. These improved blood glucose metres are a preferable replacement for traditional blood glucose metres, which used invasive approaches for diagnosis, such as pricking the fingers with a needle, which caused agony and distress to many patients.

 Data Bridge Market Research analyses that the glucose meters market which was USD 9.50 billion in 2021, would rocket up to USD 20.66 billion by 2029, and is expected to undergo a CAGR of 10.20% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Glucose metres are electronic devices that are used to test blood by taking a small blood sample using a lancet and a related lancing device. This device is small, portable, and battery-operated, making it very useful and convenient to use.

Glucose Meters Market Dynamics

Drivers

• Increasing number of diabetic patients

The rising number of diabetic patients around the world, the rising demand for alcohol due to people's changing lifestyles, and the rising obese population due to unhealthy eating and physical inactivity are all factors that will likely boost the growth of the glucose metres market in the forecast period of 2022-2029. Technological advancements and expanding research efforts, on the other hand, will further promote lucrative chances, resulting in the rise of the glucose metres market over the forecast period.

• Increasing geriatric population

The market is likely to be driven by the rising incidence of diabetes, as well as the growing geriatric population, which is prone to diabetes. Because of constant technical advancement and early identification of hypo and hyperglycemic diabetes, the glucose meter market is expected to grow even more.

• Usage of glucose meters

Glucose meters were very helpful for diabetes patients during the lockdowns related to COVID-19 pandemic, as patients can monitor and check their blood glucose levels at home with glucose meters and then share them with medical experts in virtual clinics or online platforms. This led to rapid clinical decision-making and management of diabetes. Thus, glucose meters can help significantly in screening and monitoring blood glucose levels in diabetic population, which is expected to support revenue growth of the market.

Opportunities

Growing awareness of the need of diabetes prevention and care is leading to a rise in blood glucose screening and monitoring, which is driving up demand for glucose metres. Innovative and more precise and cheap goods developed by important players, as well as technological improvements in the healthcare sector, are producing profitable growth prospects. As a result, demand for self-monitoring blood glucose systems and continuous glucose monitoring systems, which are both effective and dependable equipment for monitoring blood glucose levels in hypoglycemic and hyperglycemic patients, is increasing.

Restraints/Challenges

Lack of awareness among the people will likely to hamper the growth of the glucose meters market in the above mentioned forecast period. 

This glucose meters market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the glucose meters market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 impact on Glucose Meters Market

The COVID-19 outbreak had a negative impact on the sales of the businesses. People put delayed getting their health evaluated because of the COVID-19 outbreak, resulting in a decrease in the number of tests performed and reagent sales. However, as nations reduce travel restrictions, the number of people testing has increased. Dealing with infectious diseases has become a major medical concern around the world as a result of the COVID-19 epidemic. There is a growing demand for more precise and simple testing methods, as well as the extension of testing structures, in addition to immunizations and therapeutic drugs.

Recent Development

• In March 2022, Dexcom Inc. announced that the US Food and Drug Administration (FDA) had given Dexcom continuous glucose monitor (CGM) use in hospitals Breakthrough Device Designation. This technologically advanced compact device is made up of a small wearable sensor and transmitter that provides real-time glucose readings, as well as warnings and alarms to detect possibly low or high glucose levels.

Global Glucose Meters Market Scope

The glucose meters market is segmented on the basis of product type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Self-Monitoring Blood Glucose System
• Continuous Glucose Monitoring System

Type

• Wearable
• Non-Wearable

Testing Site

• Fingertip Testing
• Alternate Site Testing

Technique

• Invasive
• Non-Invasive

Distribution Channel

• Online
• Offline
• Retail Pharmacy
• Hospital Pharmacy

End-User

• Hospitals
• Clinics / Diagnostic Centers
• Home Care

Glucose Meters Market Regional Analysis/Insights

The glucose meters market is analysed and market size insights and trends are provided by country, product type, application and end-user as referenced above.

The countries covered in the glucose meters market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the glucose meters market due to the prevalence of improved healthcare facilities as well as infrastructure along with rising pool of population suffering from diabetes and technological advancement.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the prevalence of pool of population suffering from diabetes in India and China.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Glucose Meters Market Share Analysis

The glucose meters market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to glucose meters market.

Some of the major players operating in the glucose meters market are:

• F. Hoffmann-La Roche Ltd (Switzerland)
• Dexcom, Inc. (U.S)
• B. Braun Melsungen AG (Germany)
• Medtronic (Ireland)
• Lifespan Health System (U.S)
• Ascensia Diabetes Care Holdings AG (Switzerland)
• Terumo Europe NV (Belgium)
• Abbott (U.S)
• Sanofi (Germany)
• DiaMonTech AG (Germany)
• ACON Laboratories, Inc. (U.S)
• AgaMatrix (U.S)
• ARKRAY, Inc. (Japan)
• BD (U.S)
• Bionime Corporation (Taiwan)
• Johnson & Johnson Private Limited (U.S)