Spain Blood Glucose Monitoring Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 474 Million |
| Market Size (2029) | USD 730 Million |
| CAGR (2024 - 2029) | 9.10 % |
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?
Spain Blood Glucose Monitoring Market Analysis
The Spain Blood Glucose Monitoring Market size is estimated at USD 474 million in 2024, and is expected to reach USD 730 million by 2029, growing at a CAGR of 9.10% during the forecast period (2024-2029).
In Spain According to WHO, as of 25 June 2022, a total of 102,258,825 vaccine doses have been administered. Regardless of previous diabetes history, admission hyperglycemia is a significant predictor of all-cause death in non-critically hospitalized COVID-19 patients. Spain was among the nations most severely impacted by the COVID-19 pandemic in 2020. A total countrywide lockdown was implemented from 14 March 2020 through 21 June 2020 to limit the epidemic due to an increase in instances.
The government reinstated a state of emergency on October 25 due to a return of cases after a nearly 4-month period during which certain restrictive measures had been lifted. This included partial lockdown measures with movement limitations that would extend until May 9 of 2021.
Critical elements of the therapy of type 1 diabetes include medical devices (T1D). Devices include insulin pumps, continuous glucose monitors (CGMs), and blood glucose meters. These gadgets are linked to better glucose management and decreased hypoglycemia.
Spain Blood Glucose Monitoring Market Trends
Increasing Type-1 diabetes population across Spain
Over the forecast period, the population of people with type 1 diabetes in Spain increased at a rate greater than 3%. In 2021, over 0.35 million people will live with type 1 diabetes. Diabetes is thought to affect up to 13.8% of adults in Spain, with approximately 6% having undiagnosed diabetes. Similar prevalence rates have been observed in Spain's five million-person Valencian Community. In this field, primary care physicians monitor most diabetic patients and work closely with endocrinologists to handle more complicated cases. Numerous studies have found that people with diabetes are more likely to have severe COVID-19 episodes, have poorer outcomes, and have a higher mortality rate. The SED expects the fatality rate to increase, as the mortality risk for the diabetic population in Spain is estimated to be around 7.3%, compared to 0.9%-3% for the non-diabetic population.
As a result of the factors above, the growth of the studied market in Spain is anticipated.
Continuous Glucose Monitoring Holds Highest CAGR in Spain Blood Glucose Monitoring Market.
The COVID-19 pandemic underscores the imperative of maintaining good glycemic control in patients with diabetes, as numerous observational studies have indicated that poorly managed diabetes is linked to an elevated risk of hospitalization and mortality from viral illnesses. The frequency of glucose level monitoring varies depending on the type of diabetes, which varies from patient to patient. Patients with Type-1 diabetes must regularly monitor their blood glucose levels to track their blood glucose levels and adjust insulin dosing accordingly. Modern CGM devices provide a comprehensive representation of blood glucose patterns and trends, in contrast to traditional glucose level checks at predetermined intervals. Additionally, contemporary continuous glucose monitoring devices can either retrospectively display blood glucose level trends by downloading data or provide a real-time depiction of glucose levels through receiver displays.
The use of CGM by Type-1 diabetic patients is much less as compared to Type-2 diabetic patients. However the expenditure of Type-1 diabetic patients on these devices is nearly double that of Type-2 diabetics. The newest CGM models, the Abbott Freestyle Libre and the Dexcom G6 overcame many technical barriers. However, high costs and uncertainties about their efficacy and necessity have kept CGM from being widely used by people with Type-2 diabetes. Continuous glucose monitoring devices are becoming cheaper with new technologies, like cell phone integration.
Spain Blood Glucose Monitoring Industry Overview
The blood glucose monitoring market is moderately fragmented, with few major manufacturers present in the market for CGM devices, and very high market competition in the SMBG market. The CGM devices market is dominated by a few major players, like Dexcom, Medtronic, Abbott, and Senseonics. The market for BGM devices comprises more generic players like Roche, LifeScan, Arkray, Ascensia, etc. Technological innovations in the recent past helped the companies to strengthen their market presence.
Spain Blood Glucose Monitoring Market Leaders
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Roche
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Abbott
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Medtronics
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Dexcom
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LifeScan
*Disclaimer: Major Players sorted in no particular order
Spain Blood Glucose Monitoring Market News
- February 2024: The Dexcom One+ system, which shares the same sensor as the company's G6 CGM, represents a significant advancement as it integrates the sensor from the G7 device, as stated in the company's launch announcement.
- March 2022: DexCom announced the receipt of CE Mark for its G7 CGM system in Europe, intended for people who have diabetes and are two years and older, including pregnant women. With this approval, the highly popular and best-selling real-time CGM in the world is now more powerful and easier to use with a small, all-in-one wearable and completely redesigned mobile app.
- February 2021: Roche announced the launch of the new Accu-Chek Instant system, a new "connected" blood glucose monitoring (BGM) system, which supports and enables Roche's approach of integrated Personalised Diabetes Management (iPDM). Accu-Chek Instant features Bluetooth-enabled connectivity to the mySugr app, allowing wireless transfer of blood glucose results to the mySugr app.
Spain Blood Glucose Monitoring Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Drivers
- 4.3 Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Device
- 5.1.1 Self-monitoring blood glucose devices
- 5.1.1.1 Glucometer Devices
- 5.1.1.2 Test Strips
- 5.1.1.3 Lancets
- 5.1.2 Continuous blood glucose monitoring devices
- 5.1.2.1 Sensors
- 5.1.2.2 Durables (Receivers and Transmitters)
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5.2 Distribution Channel
- 5.2.1 Online
- 5.2.2 Offline
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes population
- 6.2 Type-2 Diabetes population
7. COMPETITIVE LANDSCAPE
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7.1 COMPANY PROFILES
- 7.1.1 Abbott Diabetes Care
- 7.1.2 Roche Holding AG
- 7.1.3 LifeScan
- 7.1.4 Dexcom Inc.
- 7.1.5 Medtronic PLC
- 7.1.6 Arkray Inc.
- 7.1.7 Ascensia Diabetes Care
- 7.1.8 Agamatrix Inc.
- 7.1.9 Bionime Corporation
- 7.1.10 Acon Laboratories Inc.
- 7.1.11 Trivida Functional Medicine
- 7.1.12 Senseonics
- *List Not Exhaustive
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7.2 COMPANY SHARE ANALYSIS
- 7.2.1 Self-monitoring Blood Glucose Devices
- 7.2.1.1 Abbott Diabetes Care
- 7.2.1.2 Roche Holding AG
- 7.2.1.3 LifeScan
- 7.2.2 Continuous Glucose Monitoring Devices
- 7.2.2.1 Dexcom Inc.
- 7.2.2.2 Medtronic PLC
- 7.2.2.3 Abbott
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain Blood Glucose Monitoring Industry Segmentation
Spain Blood Glucose Monitoring Market witnessed USD 0.4 billion in the current year and is anticipated to register a CAGR of over 5% during the forecast period. Spain Blood Glucose Monitoring Market is segmented into Type (Self-monitoring Blood Glucose, and Continuous Glucose Monitoring), Component (Glucometer Devices, Test Strips, Lancets, Sensors, and Durables). The report offers the value (in USD) and volume (in Units) for the above segments.
| Device | Self-monitoring blood glucose devices | Glucometer Devices |
| Test Strips | ||
| Lancets | ||
| Device | Continuous blood glucose monitoring devices | Sensors |
| Durables (Receivers and Transmitters) | ||
| Distribution Channel | Online | |
| Offline |
Spain Blood Glucose Monitoring Market Research FAQs
How big is the Spain Blood Glucose Monitoring Market?
The Spain Blood Glucose Monitoring Market size is expected to reach USD 474 million in 2024 and grow at a CAGR of 9.10% to reach USD 730 million by 2029.
What is the current Spain Blood Glucose Monitoring Market size?
In 2024, the Spain Blood Glucose Monitoring Market size is expected to reach USD 474 million.
Who are the key players in Spain Blood Glucose Monitoring Market?
Roche, Abbott, Medtronics, Dexcom and LifeScan are the major companies operating in the Spain Blood Glucose Monitoring Market.
What years does this Spain Blood Glucose Monitoring Market cover, and what was the market size in 2023?
In 2023, the Spain Blood Glucose Monitoring Market size was estimated at USD 430.87 million. The report covers the Spain Blood Glucose Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Blood Glucose Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Blood Glucose Monitoring Industry Report
Statistics for the 2024 Spain Blood Glucose Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Blood Glucose Monitoring analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
