Blood Glucose Monitoring System Market

Blood glucose monitoring system is an important medical device used for monitoring blood glucose levels in patients with diabetes. It helps patients manage their diabetes by providing them with real-time data about their blood glucose levels. The global blood glucose monitoring system market is experiencing significant growth due to the increasing prevalence of diabetes, growing awareness about the disease, and the need for continuous glucose monitoring systems. This article provides a comprehensive market research analysis of the blood glucose monitoring system market, covering market size, market share, key players, trends and drivers, opportunities and threats, regulatory and legal issues, target demographics, preferences, and pricing trends.

Market Size and Market Share:

The global blood glucose monitoring system market size is expected to grow at a CAGR of 10.6% during the forecast period of 2021-2028.

The market is segmented by product type, which includes continuous glucose monitoring systems, self-monitoring blood glucose systems, and blood glucose meters. The self-monitoring blood glucose systems segment dominated the market with a market share of 62.6% in 2020, followed by continuous glucose monitoring systems, which accounted for a market share of 23.9% in the same year.

Key Players in the Industry:

• Abbott Laboratories
• Medtronic plc
• Hoffmann-La Roche Ltd.
• Bayer AG
• Lifescan, Inc.
• Dexcom, Inc.
• Sanofi
• Elly Lilly and Company
• B Braun Melsungen AG

Segmentation:

• By Product Outlook

  • Self-monitoring Devices
    • Blood Glucose Meter
    • Testing Strips
    • Lancets
  • Continuous Blood Glucose Monitoring Devices
    • Sensors
    • Transmitter & Receiver
    • Insulin Pumps

• By End-use Outlook 

  • Hospitals
  • Home Care
  • Diagnostic Centers

Major Trends and Drivers:

The increasing prevalence of diabetes, growing awareness about the disease, and the need for continuous glucose monitoring systems are the major drivers for the growth of the blood glucose monitoring system market. Additionally, the technological advancements in blood glucose monitoring systems, such as the development of non-invasive glucose monitoring systems, are expected to further drive the market growth.

Opportunities and Threats:

The rising demand for self-monitoring blood glucose systems and continuous glucose monitoring systems and the increasing adoption of home healthcare are expected to create growth opportunities for the market. However, the high cost of blood glucose monitoring systems and the lack of reimbursement policies for continuous glucose monitoring systems in some countries may hinder market growth.