Summary

Blood sugar (or blood glucose) is the primary sugar found in the blood. Blood glucose is the body's principal source of energy. It is caused by the food we eat. The body converts the majority of the food into glucose and releases it into the bloodstream. When blood glucose levels rise, the pancreas releases insulin. Insulin is the hormone that helps glucose enter cells and be used for energy. Blood glucose testing is a critical component of diabetes management, particularly for those with type 1 diabetes and those who need insulin. A person's blood sugar can be checked using test strips and a glucose measuring device or a CGM (continuous glucose monitoring) system. Healthcare providers can help you decide how frequently and when to monitor your blood glucose. In the home, the most common technique to check blood glucose levels is with a blood glucose meter. A blood sugar meter measures the amount of glucose in a small sample of blood, usually taken from the fingertip. CGM (continuous glucose monitoring) is an alternate method for checking glucose levels. The majority of continuous glucose monitoring systems employ a tiny sensor that is implanted beneath an individual's skin. The sensor measures an individual's glucose level at regular intervals. It may detect changes in a person's glucose level during the day and night. A continuous glucose monitoring system is very beneficial for people who use insulin and have low blood sugar issues. Hyperglycemia refers to high blood glucose levels. Feeling weak or weary, thirsty, headaches, impaired vision, and frequent urination are all symptoms of high blood glucose levels. Hypoglycemia is a condition that develops when an individual's blood glucose level goes below what is considered healthy. For many persons with diabetes, this means a blood sugar level less than 70 mg/dL. Lower blood sugar levels are typical in people with type 1 diabetes and people with type 2 diabetes who take specific diabetes drugs. Low level of blood glucose can be hazardous and must be treated as early as possible.

According to the research report, “Global Glucose Monitoring Devices Market Overview, 2023-28” published by Bonafide Research, the market is anticipated to cross USD 27 Billion by 2028, increasing from USD 16.54 Billion in 2022. The market is expected to grow with more than 8% CAGR by 2023-28. There is a growing awareness of the importance of early detection and management of diabetes. Regular blood glucose monitoring allows individuals to track their glucose levels, identify patterns, and make informed decisions about lifestyle and treatment adjustments. Early detection helps in preventing complications associated with uncontrolled diabetes. The global increase in the aging population is associated with a higher risk of developing diabetes. As the demographic landscape shifts towards older age groups, there is a natural increase in the demand for Blood Glucose Monitoring devices to manage and monitor the health of elderly individuals. There is a global trend towards preventive healthcare, with individuals becoming more proactive in monitoring their health to prevent the onset of chronic conditions like diabetes. Blood Glucose Monitoring devices play a crucial role in preventive healthcare by allowing individuals to track their glucose levels and take necessary actions to maintain optimal health. The shift towards patient-centered care and the empowerment of individuals in managing their health have led to an increased acceptance and usage of Blood Glucose Monitoring devices. Patients are actively participating in their healthcare management, regularly monitoring their blood glucose levels, and collaborating with healthcare providers for personalized treatment plans. Governments and healthcare organizations worldwide are implementing initiatives to address the diabetes epidemic. These initiatives include awareness campaigns, subsidized or free distribution of glucose monitoring devices in certain regions, and policies promoting regular health check-ups for diabetes.

The Asia-Pacific region is experiencing significant growth in the Blood Glucose Monitoring (BGM) market, driven by a confluence of factors that reflect the dynamic healthcare landscape in the region. One pivotal factor is the substantial rise in the prevalence of diabetes across Asia-Pacific, attributed to rapid urbanization, sedentary lifestyles, and dietary changes. With a large and increasingly affluent population, the region has witnessed a surge in cases of diabetes, creating a substantial demand for effective monitoring solutions. Moreover, the growing awareness of diabetes and the importance of regular blood glucose monitoring have spurred proactive healthcare practices among individuals. This awareness is often fueled by governmental initiatives and public health campaigns aimed at educating the population about diabetes prevention and management. Technological advancements in healthcare, including innovations in glucose monitoring devices, have played a crucial role in the market's growth. The Asia-Pacific region has been quick to adopt and integrate modern healthcare technologies, resulting in the availability of advanced Blood Glucose Monitoring devices that are more accurate, user-friendly, and technologically sophisticated. This has made it easier for individuals to monitor their glucose levels regularly, fostering a culture of preventive healthcare. Furthermore, the demographic shift towards an aging population in many Asia-Pacific countries has contributed to an increased prevalence of diabetes. As older individuals are more susceptible to diabetes, there is a heightened need for Blood Glucose Monitoring devices to manage and monitor the health of this demographic group. The rise of telehealth and remote patient monitoring has also played a role in the growth of the BGM market in Asia-Pacific. The region has witnessed a significant expansion of telehealth services, particularly in response to the COVID-19 pandemic, driving the adoption of Blood Glucose Monitoring devices that facilitate remote monitoring and virtual consultations. This has proven especially beneficial in areas with limited access to healthcare facilities, promoting timely intervention and management of diabetes.

Continuous Blood Glucose Monitoring (CGM) devices are witnessing substantial growth in the Blood Glucose Monitoring market due to several compelling factors that address key challenges associated with traditional monitoring methods. One of the primary drivers is the paradigm shift towards personalized and real-time healthcare. CGM devices provide continuous, real-time data on glucose levels, offering a more comprehensive and detailed understanding of glucose fluctuations throughout the day. This continuous monitoring capability allows individuals with diabetes and healthcare professionals to make timely and informed decisions regarding diet, medication, and lifestyle adjustments. The emphasis on tight glycemic control and the ability to proactively manage blood glucose levels contribute to the growing preference for CGM devices. Technological advancements have played a pivotal role in the popularity of CGM devices. These devices leverage sophisticated sensor technologies and data analytics, providing not only accurate glucose readings but also valuable insights into trends and patterns. The integration of artificial intelligence and machine learning algorithms further enhances the precision and predictive capabilities of CGM devices, offering users a more personalized and effective diabetes management experience. Moreover, the convenience and reduced invasiveness of CGM devices contribute to their widespread adoption. Unlike traditional blood glucose meters that require multiple fingerstick tests throughout the day, CGM devices use tiny sensors inserted under the skin to continuously measure glucose levels. This minimally invasive approach not only improves user comfort but also encourages consistent monitoring, leading to better adherence to monitoring regimens.

The growth of gestational diabetes in the Blood Glucose Monitoring market can be attributed to various interconnected factors that reflect broader trends in healthcare and lifestyle. Gestational diabetes, a condition that occurs during pregnancy, has seen an uptick due to several reasons. Firstly, there has been a global increase in the prevalence of diabetes across all age groups, and this includes pregnant women. The rising rates of obesity and sedentary lifestyles, coupled with changes in dietary habits, contribute to an increased risk of gestational diabetes during pregnancy. As the global population experiences demographic shifts, with more women delaying pregnancy until later in life, advanced maternal age is also recognized as a risk factor for gestational diabetes. The emphasis on proactive and comprehensive prenatal care has led to increased screening for gestational diabetes. Healthcare providers are placing a greater focus on early detection and management to mitigate potential risks for both the mother and the baby. This heightened awareness and screening drive the demand for Blood Glucose Monitoring devices tailored for gestational diabetes, allowing pregnant women to monitor their blood glucose levels regularly and manage the condition effectively. Moreover, the integration of telehealth services and remote monitoring capabilities in the healthcare landscape has been accelerated, especially in response to the COVID-19 pandemic. This shift towards virtual healthcare enables pregnant women with gestational diabetes to have regular consultations with healthcare professionals without the need for frequent in-person visits, further emphasizing the importance of Blood Glucose Monitoring devices in this context.

The growth of diagnostic centers in the Blood Glucose Monitoring market is driven by a multifaceted interplay of factors that respond to the evolving landscape of healthcare delivery and the increasing demand for comprehensive diagnostic services. Diagnostic centers serve as essential hubs for healthcare diagnostics, providing a range of testing services, including blood glucose monitoring, in a centralized and specialized setting. One key driver for the growth of diagnostic centers in the Blood Glucose Monitoring market is the global rise in the prevalence of diabetes. As diabetes continues to be a significant public health concern, there is a growing need for efficient and accurate diagnostic services for early detection, monitoring, and management of the condition. Diagnostic centers, equipped with state-of-the-art technology and skilled healthcare professionals, offer an environment conducive to performing various blood glucose tests, including fasting blood glucose, oral glucose tolerance tests, and HbA1c measurements. Furthermore, the increasing complexity of healthcare technologies and the need for specialized equipment for advanced diagnostic methods contribute to the prominence of diagnostic centers. Blood Glucose Monitoring has evolved beyond traditional methods, with the advent of continuous glucose monitoring (CGM) systems and other advanced technologies. Diagnostic centers are well-positioned to adopt and integrate these advanced technologies into their services, offering patients access to cutting-edge monitoring solutions that provide real-time data and facilitate personalized diabetes management. The convenience and efficiency of diagnostic centers play a crucial role in their growth. These centers often provide a one-stop-shop for various diagnostic tests, creating a streamlined experience for patients. Moreover, diagnostic centers are adept at incorporating digital health solutions, enabling seamless data transmission and integration with electronic health records (EHRs). This connectivity facilitates communication between diagnostic centers and healthcare providers, ensuring a collaborative approach to diabetes care.

Major Drivers

• Aging Population and Lifestyle Changes: The aging global population and widespread lifestyle changes, characterized by sedentary behavior and unhealthy dietary habits, contribute to an increased risk of diabetes. As a result, there is a growing need for glucose monitoring devices to manage and control blood glucose levels among older individuals and those with lifestyle-related diabetes risk factors. The demographic shift toward an older population and changing lifestyles underscores the sustained demand for glucose monitoring devices, creating opportunities for market expansion.

• Patient Empowerment and Self-Management: A paradigm shift towards patient-centered care and the empowerment of individuals in managing their health is driving the adoption of glucose monitoring devices. Patients are increasingly taking an active role in monitoring their blood glucose levels, making informed decisions, and collaborating with healthcare providers to optimize their diabetes management. The focus on patient empowerment contributes to increased acceptance and usage of glucose monitoring devices, as individuals seek greater control over their health outcomes and the ability to make timely adjustments to their treatment plans.

Major Challenges

• High Cost of Advanced Technologies: The incorporation of cutting-edge technologies such as continuous glucose monitoring (CGM) and advanced data analytics can result in higher manufacturing costs. Affordability becomes a challenge, especially for patients in regions with limited access to healthcare resources and insurance coverage. The high cost of advanced technologies can create disparities in access to innovative glucose monitoring devices, limiting their adoption among certain populations and potentially hindering widespread improvements in diabetes management.

• Interoperability and Standardization: The diversity of glucose monitoring devices and technologies often leads to interoperability issues and a lack of standardization. Inconsistent data formats and communication protocols can hinder the seamless exchange of information between different devices and healthcare systems. Interoperability challenges can impede the integration of glucose monitoring data into electronic health records and other healthcare management systems, limiting the effectiveness of data-driven decision-making for both healthcare providers and individuals.

Major Trends

• Personalized Medicine in Diabetes Management: The concept of personalized medicine is gaining traction in diabetes management. Glucose monitoring devices are increasingly designed to provide personalized insights based on individual patient data, considering factors such as lifestyle, genetics, and treatment response. Personalized medicine trends contribute to more precise and tailored approaches to diabetes management, optimizing treatment plans and improving patient outcomes.

• Focus on Non-Invasive Monitoring Solutions: There is a growing trend towards the development of non-invasive or minimally invasive glucose monitoring solutions. Technologies such as optical sensors, transdermal patches, and breath analyzers aim to reduce the discomfort associated with traditional blood glucose testing methods. Non-invasive monitoring solutions enhance user experience, promote more frequent monitoring, and address issues related to pain and inconvenience, contributing to better overall diabetes management.

Competitive Landscape

The blood glucose monitoring market is highly fragmented, with few major manufacturers present in the market. The CGM devices market is dominated by a few major players, like Dexcom, Medtronics, Abbott, and Senseonics. The market for BGM devices comprises more generic players like Roche, LifeScan, Arkray, Ascensia, etc. Technological innovations in the recent past helped the companies to strengthen their market presence. For example, In Feb 2021, Roche announced the launch of the new Accu-Chek Instant system, a new "connected" blood glucose monitoring (BGM) system, which supports and enables Roche's approach of integrated Personalised Diabetes Management (iPDM). Accu-Chek Instant features Bluetooth-enabled connectivity to the mySugr app, allowing wireless transfer of blood glucose results to the mySugr app.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Glucose Monitoring Devices market Outlook with its value and forecast along with its segments
• Region-wise Glucose Monitoring Devices market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

By Product

• Self-monitoring Devices
o Testing Strips
o Blood Glucose Meter
o Lancets

• Continuous Blood Glucose Monitoring Devices
o Sensors
o Transmitter & Receiver
o Insulin Pumps

By Application

• Type 2 Diabetes
• Type 1 Diabetes
• Gestational Diabetes

By End User

• Hospitals
• Home Care
• Diagnostic Centers

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Glucose Monitoring Devices industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.





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