Blood Glucose Meters Industry Data Book - Point-of-care Glucose Testing Devices, Self-Monitoring & Continuous Blood Glucose Monitors Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030
The global Blood Glucose Meters Industry was valued at USD 15.80 billion in 2022 and is anticipated to increase at a significant CAGR of 7.3% from 2023 to 2030.
Grand View Research’s blood glucose meters industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Point-of-care Glucose Testing Market Insights
The global point-of-care glucose testing market size was valued at USD 3.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2030. The growing geriatric population, the ability of point-of-care (POC) diagnostic tests to deliver immediate results, thus providing improved patient care, and rising market penetration of electronic medical records (EMRs) are among the high-impact rendering drivers of this market. The shortage of skilled staff, especially in the field of diagnostics, is also expected to increase the market penetration of glucose POC diagnostic products.
Thus, diabetes management is one of the key priorities among healthcare professionals to limit the mortality rate. According to a survey by the Diabetes Research Foundation, diabetes increases the risk of a fatal outcome by 50% among COVID-19 patients. The growing awareness about diabetes management, poor healthcare access, scarcity of healthcare professionals, and the highest global prevalence recorded in Asian countries are likely to increase the adoption of PoC glucose testing solutions. This, in turn, creates an opportunity to reduce the healthcare burden by improving patient outcomes.
The introduction of favorable regulatory policies aimed at promoting PoC glucose diagnostics is expected to serve as a high impact rendering driver for the market. For example, in the U.S., the implementation of Clinical Laboratory Improvement Amendments (CLIA) is expected to boost usage rates during the forecast period. CLIA-waived tests are approved for use by healthcare providers operating in nontraditional laboratory sites, such as emergency rooms, physician offices, pharmacy clinics, health department clinics, and other healthcare facilities. The prevalence of diabetes is increasing worldwide, which is expanding the patient pool for the market.
Order your copy of the Free Sample of “Blood Glucose Meters Industry Data Book - Point-of-care Glucose Testing Devices, Self-Monitoring & Continuous Blood Glucose Monitors Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Blood Glucose Monitors Market Insights
The global blood glucose monitoring devices market size was estimated at USD 12.53 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2030. The market is primarily influenced by the growing prevalence of diabetes and growing elderly population susceptible to conditions like diabetes. In addition, market growth is driven by rising awareness of preventive measures for diabetes and the introduction of new products. Diabetes, a widespread and growing global concern, is characterized by the pancreas' inability to efficiently produce insulin, leading to elevated blood glucose levels. According to the International Diabetes Federation, approximately 537 million individuals were diagnosed with diabetes in 2021, and projections indicate an anticipated rise to 643 million by 2030 and 783 million by 2045.
Blood glucose monitoring (BGM) devices play a crucial role in supporting individuals with diabetes in numerous ways. Firstly, they empower both patients and healthcare professionals to identify elevated or reduced blood glucose levels, enabling timely adjustments to treatment plans. This capability serves as a protective measure by promptly confirming acute hypoglycemia or hyperglycemia, ensuring the well-being of patients. In addition, these devices enhance self-care practices, offering individuals greater control over their diabetes management. Moreover, the technology associated with blood glucose monitoring not only aids in immediate intervention but also serves as a valuable tool for patient education on diabetes and its effective management.
Go through the table of content of Blood Glucose Meters Industry Data Book to get a better understanding of the Coverage & Scope of the study
Blood Glucose Meters Industry Data Book Competitive Landscape
Technological advancements: especially in case of biosensors, Bluetooth integration, & real-time alerts, and price competitiveness are two of the major strategies mostly focused on by the major market players.
Key players operating in the Blood Glucose Meters Industry are:
- Abbott Laboratories
- Medtronic
- Hoffmann-La Roche Ltd
- Ascensia Diabetes Care
- Lifescan Inc
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