Glucose Meter Market

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Glucose Meter MarketInsights

• Glucose Meter Market Analysis Future Prospects
  for 2030

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Market Synopsis

• The global glucose meter market size was USD 9.50
  Billion in 2021 and is expected to register a
  revenue CAGR of 9.5 during the forecast period.
• Increase in number of diabetic patients across
  the globe, rise in awareness regarding prevention
  of Diabetes, technological advancements in
  healthcare sector, and frequent launches of
  innovative glucose monitoring meters and devices
  are some key factors expected to drive market
  revenue growth during the forecast period.
• According to the International Diabetes
  Federation, approximately 537 million people in
  the age group 20-79 years had diabetes in 2021.
  The number of diabetic patients is expected to
  reach 643 million by 2030 and 783 million by
  2045.
• In 2021, the disease has led to 6.7 million
  deaths and cost an exorbitant amount in
  healthcare expenditure. Moreover, in 2021,
  diabetes affected one in every six live births
  (21 million) during pregnancy and a total of 541
  million adults were at a higher risk of
  developing type 2 diabetes.

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Growth Drivers Technological advancements

• Demand for glucose monitoring systems is
  increasing with rising awareness regarding the
  importance of monitoring blood glucose levels
  frequently for effective diabetes management.
• Glucose monitoring devices are compact wearable
  devices with sensors and transmitters to detect
  and automatically transfer glucose values
  wirelessly to healthcare personnel, thereby
  ensuring real-time glucose monitoring.
• Another major factor driving market revenue
  growth is development of novel technologies and
  introduction of glucose meters with more advanced
  features, such as highly accurate and reliable,
  which is expected to drive adoption of these
  meters, and support market revenue growth to a
  significant extent.

4
Regional Perspective

• North America is anticipated to capture the
  largest share of revenue in the global glucose
  meter market. This is attributed to unhealthy
  eating habits, a surge in chronic diseases like
  diabetes, and a steadily growing geriatric
  population in the region. The North American
  market is further propelled by heightened
  awareness about diabetes prevention and
  monitoring. Additionally, the presence of
  advanced healthcare facilities, dynamic treatment
  approaches, and significant investments in
  research and development by both private and
  government sectors in countries such as the US
  and Canada are expected to foster market revenue
  growth.
• In Europe, the market is poised to exhibit a
  steady revenue Compound Annual Growth Rate (CAGR)
  throughout the forecast period. This is mainly
  due to the increasing prevalence of diabetes
  among the middle-aged population, driven by
  unhealthy lifestyles and physical inactivity.
  Notably, WHO Europe reports a significant number
  of diabetes cases in the region, with governments
  like Germany and the UK making substantial
  investments in healthcare modernization.
• The Asia Pacific market is projected to
  experience a robust revenue CAGR from 2022 to
  2030. This growth is attributed to the rising
  geriatric population and the increasing incidence
  of chronic diseases, particularly diabetes and
  obesity, in regional countries. The development
  of healthcare infrastructure and substantial
  investments in research and development are key
  drivers for revenue growth in the glucose meter
  market.

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Here are some recent advancements

• Ascensia Diabetes Care announced on February 11,
  2022, that it has secured approval from the U.S.
  Food and Drug Administration (FDA) for the
  EVERSENSE E3 continuous glucose monitoring
  system, designed for a six-month usage period.
  The company is set to manufacture and launch the
  Eversense E3 sensor for diabetic patients in the
  U.S. in the second quarter of 2022.
• On January 12, 2022, Hoffmann-La Roche introduced
  the new generation professional blood glucose
  management COBAS pulse system. This system
  combines the form factor of a high-performance
  blood glucose meter with user-friendly simplicity
  and expanded digital capabilities, resembling a
  pager or smartphone.

• Dexcom Inc. received FDA approval on July 16,
  2021, for the Dexcom Partner Web API. This allows
  third-party developers to integrate real-time
  continuous glucose monitoring data into various
  devices and health applications.
• Abbott Laboratories Inc. declared on June 15,
  2020, that its next-generation FreeStyle Libre 2
  integrated continuous glucose monitoring system
  received FDA approval for use in diabetic adults
  and children aged four and above. This integrated
  continuous glucose monitoring (iCGM) system
  includes real-time alarms and measures glucose
  levels every minute with high accuracy over a
  14-day period.

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Key Companies Profiled in Market

• F. Hoffmann-La Roche AG,
• Abbott Laboratories,
• Ascensia Diabetes Care,
• Medtronic PLC,
• LifeScan Inc.,
• Nova Biomedical Corporation,
• OMRON Corporation,
• Nipro Medical Corporation,
• ACON Laboratories Inc.,
• Prodigy Diabetes Care LLC,
• B. Braun Melsungen AG,

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