Global Glucose Monitoring Market Report Analysis Report 2023: Growing Diffusion of Smart Devices and Digital Platforms Increasing Compliance and Management of Diabetes

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Jun 15, 2023, 10:15 ET

DUBLIN, June 15, 2023 /PRNewswire/ -- The "Glucose Monitoring Global Market - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

Glucose monitoring global market is expected to grow at a double digit CAGR from 2022 to 2029 reach $33,886.4 million by 2029.

Glucose Monitoring consists of products that are essential for measuring glucose levels in diabetes patients. With the projected rise in the aged population and awareness about diabetes conditions, the market is focused on growing with newer technology and improved products.

Factors driving the Glucose Monitoring market are the global rise in the prevalence of diabetes, increasing demand for a less minimally invasive or non-invasive and point-of-care device; increasing R&D investments are driving the market growth, whereas, the growing diffusion of smart devices and digital platforms increasing compliance and management of diabetes is creating opportunities in the coming years.

The high cost of the products, frequent product recalls and inadequate reimbursement is restraining the market growth. The stringent regulations for product approval, privacy concerns and safety issues are threats for the market growth.

The products market is divided into three segments, namely, Invasive, non-Invasive and lab-based glucose monitoring products. Among them, the Invasive glucose monitoring products segment accounted for the largest share in 2022 and is projected to grow at a double digit CAGR from 2022 to 2029 due to technological advancements, easy use, and patient-friendly nature of products. The non-invasive glucose monitoring segment is projected to grow at mid single digit CAGR from 2022 to 2029.

The Invasive glucose monitoring products are further segmented into self-monitoring blood glucose (SMBG) and continuous glucose monitoring (CGM) products, among them, the continuous glucose monitoring segment accounted for the largest share in 2022 and is expected to grow at high teen CAGR from 2022 to 2029 due to increasing awareness among patients and introduction of connected devices for integrated health management.

The continuous glucose monitoring market is further sub-segmented into sensors and receivers & transmitters, among which, the sensors segment is the fastest-growing segment and is projected to grow at high single CAGR from 2022 to 2029.The Self glucose monitoring products are further sub-segmented into blood glucose monitors, blood glucose test strips, and lancets & others.

Based on sample source the market is segmented into blood, urine and others. The blood segment accounted for the largest share in 2022 and is projected to grow at double digit CAGR from 2022 to 2029 due to the high accuracy of results. Other source-based glucose monitoring segment is the fastest-growing segment and is projected to grow at a strong double digit CAGR from 2022 to 2029 due to increased R&D investment, many products getting regulatory approved and ready to launch products.

Based on end-users the market is segmented into hospitals, private clinics, home care and ambulatory settings, among them, the home care segment accounted for the largest share in 2022 and is projected to grow at early teen CAGR from 2022 to 2029 due to the availability of over the counter (OTC) self blood glucose monitor and ease in operating these monitors and thereby reducing the frequent visits to hospitals or clinics for checking glucose levels.

North America accounts for the largest market share in 2022 and the market is projected to grow at double digit CAGR from 2022 to 2029. The European market is the fastest growing region with early teen CAGR from 2022 to 2029 due to a steep rise in the aging population, advancement in technology, awareness of people about treatment options and favorable government policies.

The Asia-Pacific market is projected to grow at double digit CAGR from 2022 to 2029, while the RoW region is projected to grow at high single digit CAGR from 2022 to 2029.

Major players in the Glucose monitoring market include

Abbott Laboratories (U.S.)
Dexcom (U.S.)
Roche (Switzerland)
LifeScan (U.S.)
Medtronic, Inc. (Ireland)
PHC Holding (Ascensia) (Japan)
Sinocare (China)
Arkray (Japan)
Bio-Rad Laboratories (U.S.)
i-Sens, Inc., (South Korea)

Key Topics Covered:

Factors Influencing Market

Drivers and Opportunities

The Global Rise in the Prevalence of Diabetes
Increasing Demand for Minimally or Non-Invasive and Point-Of-Care Devices.
Increasing R & D Investments
Growing Diffusion of Smart Devices and Digital Platforms Increasing Compliance and Management of Diabetes

Restraints and Threats

High Cost Associated With the Products
Inadequate Reimbursement
Product Recalls
Strict Regulation of Glucose Monitoring Devices by Regulatory Organizations Like the Fda and Others
Privacy Concern and Safety Issues in Connected Devices

Regulatory Affairs

U.S.
Europe
China
India
Japan
Reimbursement Scenario
Patent Analysis

Technology Advancements

Non-Invasive Glucose Monitoring Technologies
Optical Glucose Monitoring
Breath Glucose Monitoring
Sweat Glucose Monitoring
Pipeline of Non-Invasive Glucose Monitoring Devices

Funding Scenario

Porter's Five Force Analysis

Market Share Analysis by Major Players

Glucose Monitoring Global Market Share Analysis
Self Blood Glucose Monitoring Global Market Share Analysis
Continuous Glucose Monitoring Global Market Share Analysis

Regional Market Share Analysis

Units Sold

Glucose Testing Strips Units Sold
Number of Cgm Sensors Sold

Market Penetration Analysis

A selection of companies featured in the report

77 Elektronika KFT
A&T Corporation
Abbott Laboratories
Abronn fze
ACON Laboratories, Inc
Adaltis S.r.l
Agamatrix, Inc.
Ailex Technology Group Co., Ltd
Alliance International Co. Ltd
Allmedicus Co., Ltd
Andesfit System Limited
Andon Health Co., Ltd.
Apex Biotechnology Corp.
Beurer Gmbh
BioCARE Corporation
Biochemical Systems International S.p.A.
Bioland Technology Ltd.
Bionime Corporation (GE)
Bioptik Ltd.
Bio-Rad Laboratories, Inc
BioTelemetry (Philips)
Biotest Medical Corporation
Bremed Limited
Cambridge Sensors Ltd (Microdot)
CEI Technology, Inc
Dario Health Corp.
Delbio, Inc.
Dexcom, Inc
DiaMonTech AG
Dr. Morepen
Drive DeVilbiss Healthcare
EasyMax Diabetes Care
EKF Diagnostics
e-LinkCare Meditech Co., Ltd.
Eps Bio Technology Corp.
GlucoMe
GlucoRx
Glysens Incorporated
Goldsite Diagnostics Inc.
Hannox International
HMD Biomedical Inc.
Hubdic Co Ltd
Ihealth Labs, Inc.
Intuity Medical, Inc.
i-Sens
Keto-Mojo Europe B.V.
K-Jump Health Co., Ltd.
Lepu Medical Technology
Life Scan, Inc.
Lifotronic Technology Co., Ltd
Links Medical Products Inc.
Lobeck Medical AG
L-Tac MediCare Pte Ltd.
Medtronic, PLC
Meril Life Sciences Pvt. Ltd.
MHC Medical Products, LLC
Microlife AG
Nemaura Medical,Inc.
Nipro Corporation
Nova Biomedical
Noviosense BV
nu-beca & maxcellent Co.
Occuity
Ok Biotech Co., Ltd
Omron Healthcare
Osang HealthCare Co Ltd
Palmdoc, Ltd
Paramedical srl
Pharma Tech Solutions, Inc.
Sanofi Diabetes
SD Biosensor. Inc.
Sinocare Inc
Trinity Biotech, PLC
Trividia Health, Inc.,
Tyson Bioresearch Inc
Visgeneer
VivaChek Biotech (Hangzhou) Co., Ltd
Volta S.r.l.
Ypsomed AG

For more information about this report visit https://www.researchandmarkets.com/r/5lgn9p

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