The blood glucose monitoring market involves devices that help patients and caregivers check blood glucose levels. This includes glucose meters, testing strips, and lancets. Effective blood glucose monitoring helps people with diabetes manage their condition and lower the risk of complications. The global blood glucose monitoring market is estimated to be valued at US$ 22101.13 Mn in 2023 and is expected to exhibit a CAGR of 0.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Remote patient monitoring is one of the key trends driving growth in the blood glucose monitoring market. Remote patient monitoring devices allow physicians to monitor patients' blood glucose levels from a distance through wireless technologies. This enables timely intervention if levels go out of bounds and reduces the need for hospital visits. It also improves convenience and quality of life for patients. Growing adoption of remote patient monitoring by healthcare providers is expected to accelerate the demand for blood glucose monitors and testing supplies during the forecast period. Increased wireless connectivity and advances in digital health are further supporting the uptake of remote monitoring solutions for diabetes care.
Segment Analysis
The global blood glucose monitoring market is segmented based on product, technique, end user and geography. The blood glucose test strips segment dominates the product segment of the global blood glucose monitoring market. This is because blood glucose test strips are essential components of blood glucose meters and help drive repeat purchases.
Key Takeaways
The Global Blood Glucose Monitoring Market Analysis is expected to witness high over the forecast period of 2023 to 2030. The market is forecast to reach a size of US$ 22101.13 Mn by 2030 from US$ 19516.19 Mn in 2023, rising at a CAGR of 0.8%.
Regional analysis: North America region dominated the global blood glucose monitoring market in 2023, accounting for 35% of the total market share. This is due to high prevalence of diabetes and favorable reimbursement policies for blood glucose monitoring devices in the region. However, Asia Pacific region is expected to witness the fastest growth during the forecast period owing to increasing healthcare expenditure and rising awareness regarding diabetes self-management in emerging countries such as China and India.
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. Among these, Metasys and Air Techniques Inc. collectively held approximately 15-20% of the market share in 2023.
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