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).

There is a high demand for accurate and reliable devices for measuring blood glucose levels owing to the increase in the number of diabetes patients all over the world. The rise in the number of technologically advanced devices such as insulin pens, syringes, and continuous glucose monitoring systems has also enhanced the functionality of the devices and improved patient outcomes. Indeed, hospital end-use equipment supports in-patient monitoring, while the home healthcare sector offers equipment for easy monitoring of glucose levels. Additionally, unlike many medical devices and treatments that are not, glucose monitoring devices are covered in some of the healthcare systems making it easy for patients to access the important devices for managing diabetes. 

The surging incidence and prevalence of diabetes across the globe is one of the key factors supporting the global blood glucose monitoring devices market growth in this area. The growing prevalence of diabetes globally is one of the most emphasized reasons for the market growth. Diabetes is a long-term illness characterized by high levels of sugar in the blood experienced by millions of people round the world. To keep track of the blood sugar levels and the change, if necessary, in their treatment, the diabetics use blood glucose meters. Awareness about the importance of achieving and maintaining proper glycaemic control in the management of diabetes and its complications such as blindness, heart disease and even kidney problems is increasing among patients and healthcare providers. As blood glucose meters make reliable and frequent blood glucose monitoring possible, their use is growing. 

US Blood Glucose Monitoring Devices Market is poised to grow at a sustainable CAGR for the next forecast year.