Global Glucose Monitoring Devices Market Report and Forecast 2024-2032

Global Glucose Monitoring Devices Market Outlook

The global glucose monitoring devices market size was valued at USD 17.47 billion in 2023, driven by the increasing awareness about the importance of regular monitoring. The market size is anticipated to grow at a CAGR of 11.3% during the forecast period of 2024-2032 to achieve a value of USD 45.80 billion by 2032.

Glucose Monitoring Devices: Introduction

Diabetes is a serious and growing issue globally, where the inefficiency of the pancreas to produce insulin results in an increase in blood glucose levels. The sedentary lifestyle of the people is leading to increased cases of diabetes across the globe. The increasing prevalence of diabetes is a serious threat to the healthcare industry as it leads to various other health ailments, thus it is important to reduce or control the prevalence of this lifestyle disorders. The awareness about the importance of getting regular check-ups is rising with the rising awareness of the fatalities associated with diabetes.

Glucose monitoring devices offer convenience to the patients as these devices can be easily used at home to monitor the glucose levels. The convenience it offers to the patients is driving the glucose monitoring devices market growth. To check blood glucose levels, a blood sample is collected by poking a needle like device called lancet, provided in the glucose testing kit. Only a drop of blood is enough to measure blood sugar levels. After pricking the needle on the tip of the finger, the blood drop is dropped on a test strip and put it into the glucometer or glucose monitoring device. The device then shows the results on the screen. There are different sorts of glucose monitoring devices available in the market.

Global Glucose Monitoring Devices Market Analysis

The number of diabetic patients is rapidly increasing with the unhealthy lifestyles and food choices of the population and lack of active lifestyle, among other factors. The rising prevalence of diabetes among the population is primarily driving the glucose monitoring devices market growth.

Pharmaceutical companies are focusing on developing medications and devices, which would help diabetic patients monitor their glucose levels and recover much more effectively. The leading companies in the market are also collaborating to make more technologically advanced products, which is another factor that is contributing to the glucose monitoring devices market share. For instance, In February 2024, Ascensia Diabetes Care announced its global collaboration with SNAQ. SNAQ is an award-winning app that helps diabetic patients to know about their foods nutritional values and provide insights, such as counting carbs, protein, and fat content of meals just by uploading a photo and provide insights on what to eat in order to keeps glucose levels in targeted range.

Additionally, another collaboration was announced on June 24, 2024. The American Diabetes Association® (ADA) and Abbott announced their collaboration to make innovative product range for diabetic patients. Abbott and the ADA have been working together for more than 20 years to improve the quality of life of diabetics. Abbott has now decided to provide USD 2.65 million grants to the ADA over the next three years to enable them to collaborate with top healthcare professionals and key opinion leaders to understand the clinical evidence on the use of continuous glucose monitors (CGM) systems in developing personalized, and therapeutic nutrition.

Abbott and ADA also have plans to launch two pilot programs targeted at adults with Type 2 diabetes to gain a deeper understanding of the role that a CGM can play in personalized therapeutic nutrition.

Global Glucose Monitoring Devices Market Segmentations

Market Breakup by Product Type

• Self-Monitoring Blood Glucose Devices 
  • Glucose Strips 
  • Blood Glucose Metre 
  • Lancets

• Continuous Glucose Monitoring Devices
  • Sensors 
  • Transmitters and Receiver 
  • Insulin Pumps 
  • Others

Market Breakup by Applications

• Type-1 Diabetes

• Type-2 Diabetes

Market Breakup by Distribution Channel

• Retail

• Speciality Stores 

• Drug Stores/Pharmacies 

• Online 

• Others

Market Breakup by End User

• Hospitals 

• Clinics 

• Diagnostic Centres 

• Home Healthcare 

• Others

Market Breakup by Region

• North America 

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

Global Glucose Monitoring Devices Market Overview

The rising incidence of diabetes and the increasing geriatric population is contributing to the market growth as geriatric people are more prone to diabetes due to their age and weakened immune system. The increasing awareness regarding diabetes preventive care provided in healthcare facilities is aiding the rising glucose monitoring devices demand. The key players in the market are continuously focusing on launching new products to make life of their consumers a bit easier by developing advanced products that helps them on daily basis to improve the quality of their lifestyle. The increasing number of obese people globally is also directly contributing to the increase in diabetic patients as fat percentage in body is also responsible for the susceptibility to diabetes. The rising consumption of alcohol and smoking is also directly contributing to the rising number of diabetes patients worldwide, which is aiding the global glucose monitoring devices market growth.

Glucose Monitoring Devices Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Abbott Laboratories 

• Medtronic plc. 

• F. Hoffmann-La Roche Ltd. 

• Ascensia Diabetes Care 

• Dexcom, Inc. 

• Sanofi 

• Novo Nordisk 

• Insulet Corporation 

• Ypsomed Holdings 

• Glysens Incorporated

Key Highlights of the Report

Glucose Monitoring Devices Market Report Snapshots

Glucose Monitoring Devices Market Size

Glucose Monitoring Devices Market Analysis

Glucose Monitoring Devices Companies