Blood Glucose Monitoring Devices Market Size, Share, Growth Analysis, By Product(Blood Glucose Monitors, Glucose Monitoring Strips, Lancets), By Application(Hospitals and Clinics, Diagnostic Centers, Home Settings), By Region - Industry Forecast 2024-2031

Global Blood Glucose Monitoring Devices Market size was valued at USD 12.50 billion in 2022 and is poised to grow from USD 13.54 billion in 2023 to USD 23.77 billion by 2031, growing at a CAGR of 8.30% during the forecast period (2024-2031).

The global blood glucose monitoring devices market is highly competitive with major players emphasizing on innovation, product development and expanding the market. Major companies include Abbott Laboratories, Medtronic, Roche, Dexcom, and Johnson & Johnson, which provide sophisticated solutions like continuous glucose monitoring (CGM) systems and smart glucose meters. These companies are involved in competition by optimizing device accuracy, lowering the cost of devices and as well melding mobile health with diabetes management to better care for patients around the world.  'Abbott (US) ', 'Medtronic plc (Ireland) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Dexcom, Inc. (US) ', 'Sanofi (France) ', 'Novo Nordisk (Denmark) ', 'Insulet Corporation (US) ', 'Ypsomed Holdings (Switzerland) ', 'Glysens Incorporated ', 'ARKRAY, Inc. (Japan) ', 'Bayer AG (Germany) ', 'AgaMatrix, Inc. (US) ', 'Trividia Health, Inc. (US) ', 'MediWise Ltd. (UK) ', 'DiaMonTech AG (Germany) ', 'B. Braun Melsungen AG (Germany) ', 'Sinocare, Inc. (China) ', 'Nipro Corporation (Japan) ', 'Menarini Diagnostics (Italy) ', 'Beurer GmbH (Germany) ', 'Prodigy Diabetes Care, LLC (US) ', 'Omron Healthcare, Inc. (Japan)'

The rise in the number of diabetics worldwide is one of the major factors responsible for the growth of the global blood glucose monitoring devices market. The growing prevalence of both type 1 and type 2 diabetes due to the elderly population, changing lifestyles and dietary habits is accelerating the need for focus on regular glucose monitoring systems in order to control or avoid the complications. 

Shift Towards Continuous Glucose Monitoring (CGM) Systems: A prominent trend in the market is the rise in the use of continuous glucose monitoring devices. Such systems provide real time glucose readings and enhance the management of diabetic patients by offering more accuracy, usability and a more design-oriented approach to care, hence, driving the rapid penetration of this device in homes and even institutions. 

North America leads the global blood glucose monitoring devices market, driven by a high prevalence of diabetes, strong healthcare infrastructure, and widespread awareness of diabetes management. The high-tech region facilitates the quick incorporation of innovations such as continuous glucose monitoring (CGM) systems and mobile devices geared toward these systems. Moreover, the government’s policies and reimbursement levels enhance the availability of such devices to patients. The presence of major players, vast amounts of investment in research and development, as well as the need for a self-monitoring solution, outperforming the rest of the world, is an added advantage to the market supremacy of North America. The Region’s focus on preventive medicine and routine check-ups is in itself a pointer to the continued rise in the demand for blood glucose monitoring devices.