Market Size of Self-Monitoring Blood Glucose Industry
| Study Period | 2018 - 2029 |
| Market Size (2024) | USD 14.56 Billion |
| Market Size (2029) | USD 19.70 Billion |
| CAGR (2024 - 2029) | 6.23 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Self-Monitoring Blood Glucose Market Analysis
The Self-Monitoring Blood Glucose Market size is estimated at USD 14.56 billion in 2024, and is expected to reach USD 19.70 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).
During the COVID-19 pandemic, hyperglycemia, caused by both stress and diabetes mellitus, could be present in patients in the intensive care unit or non-ICU patients. The maintenance of euglycemia was essential to decrease both morbidity and mortality. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe and improved inpatient glycemic outcomes and played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients. According to the article published by the American Association of Clinical Endocrinology in December 2022, the inpatient standard of care for glucose monitoring consisted of capillary glucose measurement using glucometers. COVID-19 treatment involved high doses of corticosteroids with subsequent hyperglycemia and the need for higher insulin doses to control glucose. This dosing required more frequent glucose monitoring with glucometer checks.
According to the International Diabetes Federation (IDF), the adult diabetes population in 2021 is approximately 537 million, and this number is going to increase by 643 million in 2030. The main diagnosis for diabetes patients is imbalances in blood glucose levels, which do not comply with the standard blood glucose levels. General lab diagnostic tests can only help physicians diagnose the disease. Patients with more fluctuations in glucose levels need to get it checked daily. Patients administering insulin need to check their blood glucose levels frequently, adjust their insulin doses, or change the medication if necessary.
Technological advancements in blood glucose meters, including cellular-connected devices that automatically upload SMBG data to secure cloud-based databases, allow for improved sharing and monitoring of SMBG data. Real-time monitoring of SMBG data presents opportunities to provide timely support to patients responding to abnormal SMBG recordings. Such diabetes remote monitoring programs can provide patients with poorly controlled diabetes additional support needed to improve critical outcomes, thereby enhancing the market prospects in the years to come.
Self-Monitoring Blood Glucose Industry Segmentation
Self-monitoring blood glucose (SMBG) is an important aid in diabetes mellitus care. Patients with diabetes can measure their blood glucose to detect hypoglycemia, adjust the insulin doses as needed, and establish the response to nutrition and pharmacotherapy.
The Self-monitoring Blood Glucose Market is segmented into Components (Glucometer Devices, Test Strips, and Lancets) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America). The report offers the value (in USD) and volume (in Units) for the above segments.
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| Glucometer Devices | |
| Test Strips | |
| Lancets |
| By End User | |
| Hospital/Clinics | |
| Personal/Home |
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Self-Monitoring Blood Glucose Market Size Summary
The self-monitoring blood glucose market is poised for significant growth, driven by technological advancements and increasing adoption of glucometers in home care settings. These devices, which offer portable and convenient blood sugar monitoring, are becoming essential for patients managing diabetes, particularly those requiring frequent glucose checks. The market is benefiting from the integration of cellular-connected devices that enable real-time monitoring and data sharing, enhancing patient support and outcomes. The availability of reimbursement options for glucose meters further supports market expansion, as health insurance plans cover substantial costs, making these devices more accessible to a broader population. The market landscape is characterized by strategic collaborations and innovations, with major players like Abbott, LifeScan, and Roche leading the charge in developing advanced diabetes management solutions.
Regionally, North America holds a significant share of the market, influenced by the rising prevalence of diabetes linked to lifestyle changes and obesity. The region's focus on addressing social determinants of health and improving diabetes care through policy and organizational actions is expected to bolster market growth. The presence of numerous startups and established companies introducing innovative diabetes management platforms in the United States underscores the market's dynamic nature. As awareness of advanced diabetes devices grows, the adoption of point-of-care testing devices is expected to increase, further driving market expansion. The self-monitoring blood glucose market is anticipated to experience robust growth over the forecast period, supported by these trends and the ongoing demand for effective diabetes management solutions.
Self-Monitoring Blood Glucose Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Industry Attractiveness - Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Component
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2.1.1 Glucometer Devices
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2.1.2 Test Strips
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2.1.3 Lancets
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2.2 By End User
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2.2.1 Hospital/Clinics
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2.2.2 Personal/Home
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 France
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2.3.2.2 Germany
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2.3.2.3 Italy
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2.3.2.4 Spain
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2.3.2.5 United Kingdom
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Latin America
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2.3.3.1 Mexico
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2.3.3.2 Brazil
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2.3.3.3 Rest of Latin America
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2.3.4 Asia-Pacific
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2.3.4.1 Japan
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2.3.4.2 South Korea
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2.3.4.3 China
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2.3.4.4 India
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2.3.4.5 Australia
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2.3.4.6 Vietnam
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2.3.4.7 Malaysia
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2.3.4.8 Indonesia
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2.3.4.9 Philippines
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2.3.4.10 Thailand
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2.3.4.11 Rest of Asia-Pacific
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 Iran
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2.3.5.3 Egypt
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2.3.5.4 Oman
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2.3.5.5 South Africa
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2.3.5.6 Rest of Middle East & Africa
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Self-Monitoring Blood Glucose Market Size FAQs
How big is the Self-Monitoring Blood Glucose Market?
The Self-Monitoring Blood Glucose Market size is expected to reach USD 14.56 billion in 2024 and grow at a CAGR of 6.23% to reach USD 19.70 billion by 2029.
What is the current Self-Monitoring Blood Glucose Market size?
In 2024, the Self-Monitoring Blood Glucose Market size is expected to reach USD 14.56 billion.
