Self-monitoring Blood Glucose Devices Market - By Product (Self-monitoring Blood Glucose Meters, Consumables), Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), End-use (Hospitals, Home Care, ASCs) – Global Forecast 2024 – 2032

Self-monitoring Blood Glucose Devices Market - By Product (Self-monitoring Blood Glucose Meters, Consumables), Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), End-use (Hospitals, Home Care, ASCs) – Global Forecast 2024 – 2032

Self-monitoring Blood Glucose Devices Market Size

Self-monitoring Blood Glucose Devices Market size was valued at around USD 10 billion in 2023 and is estimated to grow at 11.6% CAGR from 2024 to 2032. Self-monitoring blood glucose (SMBG) devices are tools used by individuals, particularly those with diabetes, to measure and monitor their blood glucose levels at home or on the go. These devices help users manage their blood sugar levels by providing real-time data, enabling them to make informed decisions about diet, exercise, and medication.

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The global rise in diabetes prevalence is a significant driver for the self-monitoring blood glucose (SMBG) devices market. For instance, in 2021, diabetes affected 11.6% of the U.S. population, equivalent to 38.4 million individuals, as reported by the Centers for Disease Control and Prevention (CDC). Among adults, diabetes impacted 14.7%, totaling 38.1 million people. This increase in diabetes cases necessitates regular and effective condition management through monitoring.
 

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Additionally, advancements in SMBG technology, resulting in more accurate, user-friendly, and minimally invasive devices, have significantly improved accessibility and user adoption. Growing awareness regarding digital diabetes management and preventive healthcare further stimulates market demand. Furthermore, government initiatives and healthcare policies focused on promoting diabetes care devices and monitoring enhance market growth. The shift towards home care monitoring, which offers the convenience of reducing hospital visits, is also a substantial driver, especially with the rising adoption of telemedicine and remote patient monitoring solutions.

Furthermore, the increasing focus on personalized healthcare and patient empowerment is driving the uptake of these devices, especially within home care environments. As healthcare systems worldwide transition towards outpatient and home-based care models, the SMBG devices market is set for sustained growth, bolstered by supportive government initiatives and reimbursement policies.

Self-monitoring Blood Glucose Devices Market Trends

• The self-monitoring blood glucose (SMBG) devices market is witnessing substantial growth, driven by the rising global prevalence of diabetes, technological advancements, and increasing awareness of the importance of regular blood glucose monitoring.
• A key market trend is the integration of SMBG devices with digital health platforms and mobile applications, facilitating seamless tracking, analysis, and sharing of glucose data.
• Moreover, the development of advanced glucose monitoring (CGM) systems, which offer real-time glucose readings and minimize the need for frequent finger pricks, is gaining significant traction. The demand for user-friendly and minimally invasive devices is further fueling innovation in the market.

Self-monitoring Blood Glucose Devices Market Analysis

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Based on product, the market is segmented into self-monitoring blood glucose meters and consumables. The consumables segment is further sub-segmented into testing strips and lancets. The consumables segment dominated the market with a revenue of USD 6.1 billion in 2023 and is expected to grow at a significant CAGR over the forecast period.

• Key drivers of the self-monitoring blood glucose (SMBG) meters segment include increasing awareness of the importance of regular blood glucose monitoring and ongoing technological advancements.
• Additionally, there is a rising demand for user-friendly and minimally invasive devices, spurring innovation and improving the user experience. As healthcare systems worldwide shift towards personalized and home-based care models, the SMBG meters segment is set for continued growth, supported by favorable government initiatives and reimbursement policies

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Based on application, the self-monitoring blood glucose devices market is segmented into type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 2 diabetes segment dominated the market with the largest revenue share of 54.9% in 2023 and is also expected to grow at the fastest CAGR over the forecast period.

• The increasing global prevalence of type 2 diabetes is a primary driver for the SMBG devices market, highlighting the need for effective tools for regular blood glucose monitoring. Growing awareness of the benefits of SMBG in managing diabetes, such as improved glycemic control and complication prevention, is further fueling market growth.
• Moreover, the demand for minimally invasive and user-friendly devices is driving innovation. As healthcare systems worldwide shift towards personalized and home-based care, the SMBG devices market for type 2 diabetes management is set for sustained growth, supported by favorable government initiatives and reimbursement policies.

Based on end-use, the self-monitoring blood glucose devices market is segmented into hospitals, ambulatory surgery centers, diagnostics centers, home care, and other end-users. The home care segment dominated the market with the largest revenue of USD 3.6 billion in 2023 and is expected to grow at a significant CAGR over the forecast period.

• The shift towards home-based care, accelerated by the COVID-19 pandemic, has increased the adoption of SMBG devices. Patients and healthcare systems are recognizing the benefits of managing diabetes from the comfort of home, reducing the need for frequent hospital visits, and minimizing exposure to infectious diseases.
• Additionally, favorable reimbursement policies and government initiatives aimed at managing diabetes more effectively are supporting the growth of the home care segment. These policies are making SMBG devices more accessible and affordable for a broader population.

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The North America SMBG devices market was valued at USD 3.8 billion in 2023 and is expected to grow at a significant CAGR over the forecast period.

• The high prevalence of diabetes and an aging population in North America drive the need for effective diabetes management tools. Increased awareness of the importance of regular blood glucose monitoring and the benefits of SMBG in diabetes management is boosting market demand.
• Additionally, technological advancements in SMBG devices, such as enhanced accuracy, user-friendliness, and integration with digital health platforms and mobile applications, are improving patient adherence and engagement.

The self-monitoring blood glucose devices market in UK is expected to experience significant and promising growth from 2024 to 2032.

• The UK government’s initiatives to improve diabetes care, such as the NHS Long Term Plan which focuses on preventing diabetes-related complications and promoting self-care, are contributing to market growth.
• Additionally, increased awareness campaigns and educational programs by organizations like Diabetes UK are enhancing public understanding of the benefits of regular blood glucose monitoring.

Japan self-monitoring blood glucose devices market is anticipated to witness lucrative growth between 2024 – 2032.

• The aging population, with a high prevalence of diabetes among the elderly, is a significant driver, necessitating reliable and accessible monitoring tools.
• Additionally, the Japanese government’s proactive healthcare policies, including favorable reimbursement schemes for diabetes management and SMBG devices, encourage wider usage.

The self-monitoring blood glucose devices market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.

• The increasing prevalence of type 2 diabetes in the country underscores the need for reliable tools to monitor blood glucose levels regularly. Government-led efforts, including national health campaigns and screening initiatives focused on enhancing awareness and management of diabetes, are key drivers contributing to market growth in this sector.
• Additionally, Saudi Arabia's Vision 2030, which includes a focus on enhancing healthcare infrastructure and promoting the adoption of advanced medical technologies, is encouraging the uptake of SMBG devices.

Self-monitoring Blood Glucose Devices Market Share

The self-monitoring blood glucose devices sector is competitive in nature, with a mix of major global and smaller to medium-sized companies competing for market share. A pivotal aspect of market strategy involves the continual introduction of innovative products leveraging diverse technologies. Notably, prominent industry players command considerable influence in this dynamic landscape, often driving forward advancements through substantial investments in research and development. Additionally, strategic alliances, acquisitions, and mergers are instrumental in fortifying market positions and expanding global footprint amidst evolving regulatory landscapes.

Self-monitoring Blood Glucose Devices Market Companies

Some of the eminent market participants operating in the self-monitoring blood glucose devices industry include

• Abbott Laboratories
• AgaMatrix
• All Medicus Co., Ltd.
• Arkray, Inc.
• Ascensia Diabetes Care Holdings AG
• B. Braun Melsungen AG
• Bionime Corporation
• DarioHealth Corp.
• Dexcom, Inc.
• Essenlife Bioscience, Inc.
• F. Hoffmann-La Roche Ltd.
• LifeScan Inc.
• Medtronic plc
• Nova Biomedical, Inc.
• Sinocare Inc.

Self-monitoring Blood Glucose Devices Industry News

• In June 2024, Prevounce Health, a prominent provider of remote care management solutions, software, and services, launched its inaugural remote blood glucose monitoring device, the Pylo GL1-LTE. This clinically validated blood glucose meter connected seamlessly to multiple cellular networks across the United States, ensuring robust and reliable data transmission. This innovation positioned Prevounce Health to enhance its remote care offerings, strengthening its competitive edge in the healthcare technology sector.
• In May 2024, Senseonics Holdings, Inc., a medical technology firm specializing in long-term systems for diabetes patients, announced a pioneering partnership with global commercial partner Ascensia Diabetes Care and Mercy, a leading healthcare system and accountable care organization based in St. Louis. This collaboration represented the debut of Senseonics' Eversense CGM technology within a health system and the first implementation of its new Eversense Remote Patient Monitoring (RPM) solution, aiming to significantly advance diabetes management for patients. This milestone not only expands Senseonics' market reach through strategic partnerships but also positions the company at the forefront of innovation in diabetes care technology.

The self-monitoring blood glucose devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 – 2032 for the following segments

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Market, By Product

• Self-monitoring blood glucose meters
• Consumables 
  • Testing strips
  • Lancets

Market, By Application

• Type 1 diabetes
• Type 2 diabetes
• Gestational diabetes

Market, By End-use

• Hospitals
• Ambulatory surgery centers
• Diagnostic centers
• Home care
• Other end-users

The above information is provided for the following regions and countries

• North America 
  • U.S.
  • Canada 
• Europe 
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America 
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America 
• Middle East and Africa 
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa