Glucometer Market - By Product (Self-monitoring Blood Glucose Meter, Continuous Glucose Monitor [Wearable, Non-wearable]), Application (Type 1, Type 2, & Gestational Diabetes), Distribution Channel (Hospital, Retail, Online)– Global Forecast, 2024 – 2032

Glucometer Market - By Product (Self-monitoring Blood Glucose Meter, Continuous Glucose Monitor [Wearable, Non-wearable]), Application (Type 1, Type 2, & Gestational Diabetes), Distribution Channel (Hospital, Retail, Online)– Global Forecast, 2024 – 2032

Glucometer Market Size

Glucometer Market size was valued at around USD 16.3 billion in 2023 and is estimated to grow at 12.8% CAGR from 2024 to 2032. A glucometer, also known as a blood glucose meter or blood sugar meter, is a portable electronic device designed for measuring and monitoring blood glucose levels in individuals, particularly those with diabetes. The significant increase in the prevalence of diabetes in both developed and developing economies is a crucial factor stimulating the market expansion.
 

For instance, according to the International Diabetes Federation (IDF), in 2021, 537 million adults (aged 20-79) were living with diabetes, representing 1 in 10 individuals. Furthermore, projections indicate that this number is expected to rise to 643 million by 2030 and further to 783 million by 2045. Notably, over three-quarters of adults with diabetes reside in low- and middle-income countries.
 

Moreover, in 2021, diabetes resulted in 6.7 million deaths, equivalent to one every 5 seconds. Thus, the sustained increase in diabetes cases and its expanding prevalence over recent decades underscore the urgent global health need, reinforcing the growing market demand for glucometers.
 

Furthermore, the accelerated progress in technology aimed at improving reliability and efficiency will contribute to the increase in adoption of glucometers. Technological advancements are leading to the development of more accessible, portable, and convenient testing devices, making them more appealing to individuals with insulin-dependent diabetes. The growing availability of compact and user-friendly devices, such as continuous glucose monitoring devices which is estimated to reach USD 20.2 billon by 2032,  and glucose meters, is expected to have a positive impact on revenue growth in the market.
 

Glucometer Market Trends

Government and organizational initiatives aimed at heightening awareness among the public regarding diabetics stimulate the growth of the market.
 

• For instance, in India, the Ministry of Health and Family Welfare initiated a nationwide program for the prevention and control of cancer, diabetes, cardiovascular diseases, and stroke (NPCDCS). The program aims to provide education to the population at risk of these diseases, offering information on available clinical treatments and diagnostic services throughout the country.
   
• Furthermore, the National Diabetes Prevention Program (National DPP), a collaborative effort involving public and private organizations dedicated to preventing or delaying type 2 diabetes. The program provides evidence-based interventions, including the CDC-recognized lifestyle change program, emphasizing healthy eating and physical activity.
   
• Furthermore, the increasing adoption of self-monitoring blood glucose devices, in conjunction with product approvals for treating various life-threatening diseases, is poised to further amplify the market's growth.
   
• Thus, aforementioned factors are anticipated to drive the market growth.
   

Glucometer Market Analysis

The market by product type is categorized into self-monitoring blood glucose meters, and continuous glucose monitors. The continuous glucose monitors are further bifurcated into wearable, and non-wearable. The segment garnered USD 8.9 billion revenue in 2023.

• Continuous glucose monitors (CGMs) dominate the market due to their real-time monitoring capabilities, providing comprehensive insights into glycemic status and enabling prompt decision-making for diabetes management.
   
• Moreover, the convenience of wearable sensors and reduced invasiveness further positions CGMs as a user-friendly alternative to traditional self-monitoring blood glucose meters.
   

Based on application, the glucometer market is segmented into type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 2 diabetes segment accounted for over 92.7% business share in 2023 and is anticipated to witness significant growth during the forecast period. Type 2 diabetes is a widespread and chronic condition, representing a substantial portion of the diabetic population globally.
 

• For instance, as projected by the National Institute of Health (NIH), the expected global prevalence of type 2 diabetes is anticipated to reach 7,079 individuals per 100,000 by 2030, demonstrating a continuous upward trend across all regions globally.
   
• Thus, as the incidence of type 2 diabetes continues to rise, the demand for glucometers in this segment is anticipated to witness significant growth throughout the forecast period.
   

Based on distribution channel, the glucometer market is segmented into hospital pharmacies, retail pharmacies, online sales, and diabetes clinics & centers. The hospital pharmacies segment accounted for over 29.5% business share in 2023 and is anticipated to witness significant growth during the forecast period.

• Hospital pharmacies serve as crucial distribution channels for glucometers due to their direct association with healthcare facilities. The prevalence of diabetes often leads to patients seeking medical attention in hospitals, where glucometers are not only utilized for diagnosis but also recommended for monitoring blood glucose levels during treatment.
   
• Furthermore, the convenience of obtaining glucometers directly from hospital pharmacies ensures immediate access for patients under medical care.
   
• Additionally, healthcare professionals in hospitals play a pivotal role in guiding patients on proper glucometer usage and providing necessary education on diabetes management.
   

Thus, as the demand for glucometers aligns with the increasing prevalence of diabetes-related hospital visits, the hospital pharmacies segment is poised to witness significant growth throughout the forecast period.
 

North America glucometer market accounted for USD 6.2 billion revenue in 2023 and is predicted to witness substantial market progress.
 

• The growth is majorly owing to the region's relatively high prevalence of diabetes, prompting a significant demand for glucometers in the region. Furthermore, according to the Centers for Disease Control and Prevention (CDC), as of 2023 in the U.S., around 38 million people are living with diabetes, representing about 1 in 10 individuals, with approximately 90-95% of these cases attributed to type 2 diabetes.
   

• Furthermore, the well-established healthcare infrastructure, coupled with a proactive approach towards adopting advanced medical technologies, further fuels the market growth.
   
• Additionally, increased awareness about diabetes management and the availability of technologically advanced glucometers contribute to their widespread adoption in North America.
   

Glucometer Market Share

The glucometer industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Abbott Laboratories, Ascensia Diabetes Care Holdings AG, B. Braun Melsungen AG, Dexcom, Inc., F. Hoffmann-La Roche Ltd., among others have a notable presence in the market.
 

Glucometer Market Companies

Some of the eminent market participants operating in the glucometer industry include

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

Glucometer Industry News

• In September 2023, Abbott acquired Bigfoot, a significant player in the development of smart insulin management systems for individuals with diabetes. This strategic move brought together two industry leaders specializing in different facets of diabetes care, specifically continuous glucose monitoring and insulin dosing support. Moreover, the collaboration was set to propel the advancement of connected solutions, aiming to elevate the personalization and precision of diabetes management.
   
• In February 2022, Ascensia Diabetes Care, a global diabetes company, announced that its collaborator Senseonics had obtained approval from the U.S. Food and Drug Administration (FDA) for the advanced Eversense E3 Continuous Glucose Monitoring (CGM) System. This regulatory endorsement was poised to optimize the system's distribution in the U.S., consequently boosting the revenue for both companies.
   

Glucometer market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments

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Market, By Product Type

• Self-monitoring blood glucose meters
• Continuous glucose monitors
  • Wearable
  • Non – wearable

Market, By Application

• Type 1 diabetes
• Type 2 diabetes
• Gestational diabetes

Market, By Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online sales
• Diabetes clinics & centers

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Switzerland
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Thailand
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Kuwait
  • UAE
  • Turkey
  • Egypt
  • Israel
  • Qatar
  • Rest of Middle East and Africa