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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Glucose Monitoring Devices Market Report Snapshots
Glucose Monitoring Devices Market Size
Glucose Monitoring Devices Market Analysis
Glucose Monitoring Devices Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of about USD 17.47 billion in 2023, driven by the rising number of diabetic patients worldwide.
The market is anticipated to grow at a CAGR of 11.3% during the forecast period of 2024-2032, likely to reach a market value of USD 45.80 billion by 2032.
The increasing awareness regarding diabetes preventive care and the rising incidence of diabetes are among the major factors driving the market growth.
Key players in the market collaborating to produce new and advanced products for diabetic patients, which is a key trend influencing the market growth.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Different glucose monitoring devices present in the market are self-monitoring blood glucose devices and continuous glucose monitoring devices.
They find wide applications in Type-1 Diabetes and Type-2 Diabetes.
The distribution channels involved are retail, speciality stores, drug stores/pharmacies, and online channels, among others.
The end users are hospitals, clinics, diagnostic centres, and home healthcare, among others.
Key players involved in the market are Abbott Laboratories, Medtronic plc., F. Hoffmann-La Roche Ltd., Ascensia Diabetes Care, Dexcom, Inc., Sanofi, Novo Nordisk, Insulet Corporation, Ypsomed Holdings, and Glysens Incorporated.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124