Global Blood Glucose Monitoring Devices Market Report 2023: Sector is Expected to Reach $23.21 Billion by 2030 at a CAGR of 8.13% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Blood Glucose Monitoring Devices Market Size, Share & Trends Analysis Report By Product (Self-Monitoring Devices, Continuous Blood Glucose Monitoring Devices), By End-use (Hospital, Homecare), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global blood glucose monitoring devices market size is expected to reach USD 23.21 billion by 2030. The market is expected to expand at a CAGR of 8.13% from 2023 to 2030.

The market is expected to expand at a CAGR of 8.0% from 2022 to 2030. Patients with diabetes and their healthcare professionals benefit significantly from Blood Glucose Monitoring Devices (BGMD). BGMD is becoming more widely accepted as an important component of intensive diabetic treatment.

It allows diabetic patients to measure their blood sugar levels within minutes with ease and convenience wherever they are. The continuous glucose monitoring (CGM) devices help analyze the blood glucose level continuously and in real-time. It also helps patients determine the level of dietary intake and dosage of insulin.

In addition, factors such as sedentary lifestyles including consumption of junk food, alcohol, and smoking, and a surge in the need for safer and faster diagnoses are expected t

o boost the market growth during the forecast period.

According to the International Diabetes Federation (IDF), the total number of diabetic patients is expected to expand to 643 million (11.3 %) by 2030 and 783 million (12.2 %) by 2045. Obesity is one of the major factors propelling the prevalence of diabetes. Obese individuals are up to 80 times more likely than non-obese persons to develop diabetes. Studies suggest that 650 million people over the age of 18 are obese.

Further, due to the ongoing efforts by the government and healthcare organizations such as the International Diabetes Federation (IDF) to control diabetes, the market is likely to rise at a rapid pace throughout the forecast period.

Through a network of stakeholders and collaborators, these organizations provide needed expertise and support diabetes awareness campaigns. Rising health-care funding is also expected to boost market growth.

Companies Mentioned

• Abbott Laboratories
• Medtronic
• F. Hoffmann-La Roche Ltd
• Ascensia Diabetes Care
• Lifescan Inc
• Dexcom, Inc
• Sanofi
• Elly Lilly and Company
• B Braun Melsungen AG

Blood Glucose Monitoring Devices Market Report Highlights

• North America held the largest revenue share in 2022 owing to favorable reimbursement policies, local presence of key players, and supportive government initiatives
• Based on product, the self-monitoring devices segment held the largest revenue share of 66.5% in 2022 and is expected to grow at a significant pace over the forecast period
• The continuous blood glucose monitoring devices product segment is expected to be the fastest-growing segment during the forecast period
• In the self-monitoring devices, the testing strips segment accounted for the largest revenue share in 2022 owing to the high usage of these strips and affordability.
• By end-use, the home care segment is expected to grow at a rapid pace during the forecast period

Key Attributes:

Report Attribute	Details
No. of Pages	110
Forecast Period	2022 - 2030
Estimated Market Value (USD) in 2022	$12.5 Billion
Forecasted Market Value (USD) by 2030	$23.21 Billion
Compound Annual Growth Rate	8.0%
Regions Covered	Global

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Blood Glucose Monitoring Market Variables, Trends & Scope

3.1. Market Lineage Outlook

3.1.1. Parent market outlook

3.1.2. Related/ancillary market outlook

3.2. Market Dynamics

3.2.1. Market driver analysis

3.2.1.1. Rising geriatric population worldwide

3.2.1.2. Increasing number of diabetes patients

3.2.1.3. Increasing awareness about diabetes preventive care

3.2.2. Market restraint analysis

3.2.2.1. High cost of devices

3.3. Blood Glucose Monitoring Devices Market Analysis Tools

Chapter 4. Blood Glucose Monitoring Devices Market: Product Estimates & Trend Analysis

Chapter 5. Blood Glucose Monitoring Devices Market: End Use Estimates & Trend Analysis

Chapter 6. Blood Glucose Monitoring Devices Market: Regional Estimates & Trend Analysis

Chapter 7. Competitive Landscape

7.1. Company/Competition Categorization

7.1.1. Innovators

7.2. Vendor Landscape

For more information about this report visit https://www.researchandmarkets.com/r/u19s4z

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