Spain Self-Monitoring Blood Glucose Devices Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 290 Million |
| Market Size (2029) | USD 381 Million |
| CAGR (2024 - 2029) | 6.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spain Self-Monitoring Blood Glucose Devices Market Analysis
The Spain Self-Monitoring Blood Glucose Devices Market size is estimated at USD 290 million in 2024, and is expected to reach USD 381 million by 2029, growing at a CAGR of 6.70% during the forecast period (2024-2029).
Diabetes was quickly recognized as a risk factor for bad results during the COVID-19 pandemic. This risk was influenced by several variables frequently present in diabetes mellitus, such as advanced age, a proinflammatory and hypercoagulable condition, hyperglycemia, and underlying comorbidities (hypertension, cardiovascular disease, chronic kidney disease, and obesity). That's why managing or delaying cases of diabetes became more important. The use of telemedicine or self-monitoring blood glucose helped improve glycemic control during the COVID-19 pandemic.
Blood glucose monitoring increases patients' awareness of glucose values, which supports healthy lifestyle choices. Blood glucose monitoring values help provide feedback and guidance on making health behavior changes when needed. Continued elevation in blood glucose levels in diabetes patients can contribute to progressive complications such as renal, nerve, and ocular damage. Appropriate and timely monitoring of blood glucose allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications.
Innovative technologies, such as digital health apps that display and summarize individual blood glucose measurements and incorporate additional relevant data such as insulin doses, meals, and physical activity, can further support self-management while decreasing disease burden and benefiting overall diabetes care. Integration of blood glucose monitoring with insulin calculators, automated insulin titration software, and remote coaching are further developments that provide patients with poorly controlled diabetes with the additional support needed to improve critical outcomes, thereby enhancing market prospects in the years to come.
Spain Self-Monitoring Blood Glucose Devices Market Trends
Rising Diabetes Prevalence in Spain
In Spain, the diabetes population is expected to increase by more than 2.5% over the forecast period.
According to the IDF report, diabetes prevalence in Spain reached 14.8%, or one in seven adults, the second highest rate in Europe. In addition, diabetes-related health expenditures in Spain reached 15.5 billion USD. Almost 30.3% of people living with diabetes in Spain were undiagnosed. When diabetes is undetected or inadequately treated, it can cause serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs.
According to the Sociedad Espanola de Diabetes (SED), therapeutic education in diabetes has gone from being a necessity to becoming a priority and an urgency. The unstoppable increase in cases and the appearance of important developments in the control and management of the disease require, more than ever, training efforts accompanied by indispensable equity measures to facilitate the access of all people with diabetes to these new resources. The SED also recognizes the important progress made in the approach to diabetes, especially with technological advances. For example, the financing of Flash systems for people with type-2 diabetes on treatment with a bolus-basal insulin regimen has been approved.
Self-monitoring is a commitment that many diabetic patients make to manage their condition. The blood glucose levels help the patients and doctors modify their diet, lifestyle, insulin therapy, and medications to help their blood sugar return to normal. With newer innovations in medical technology, glucometers these days have highly sensitive strips and sensors that can detect every component of blood accurately, close to lab results.
Therefore, the studied market is anticipated to witness growth over the analysis period due to rising prevalence and the aforementioned factors.
The Test Strips Segment holds the highest market share in the current year
The test strip segment recorded a market share of about 76.9% in the current year.
Blood glucose test strips are small, disposable strips and are a key component of blood glucose testing. When blood is placed on the test strip, it reacts with a chemical called glucose oxidase, producing gluconic acid from the glucose in the blood. At the other end of the test strip, the meter transfers a current to the strip. The test strip has electric terminals, which allow the meter to measure the current between the terminals. The current between the terminals changes depending on the level of gluconic acid that has been produced. The blood glucose meter then uses an algorithm to work out the blood glucose level based on the difference in current.
The growth in market share of test strips is expected to be higher than that of glucose meters because of the difference in use-case frequency. The glucometer is a one-time purchase; test strips, on the other hand, are a continuous investment as a test strip needs to be disposed of after one use, causing a recurrent cost impact. While an average glucose meter lasts anywhere between six months and three years, presenting a one-time cost during the same time frame,
Diabetes care requires the tracking and monitoring of many different test results and processes while simultaneously controlling risks to prevent complications. People with diabetes face complex medical regimens and often encounter numerous health professionals responsible for elements of the management of the disease and the prevention of its complications. Recent studies show that the implementation of electronic health records is not sufficient to improve the quality of diabetes care. The use of a diabetes registry for managing diabetes and preventing its complications by tracking clinical outcomes is widely recommended.
The aforementioned factors are expected to drive the market over the forecast period.
Spain Self-Monitoring Blood Glucose Devices Industry Overview
The Spanish self-monitoring blood glucose device market is moderately fragmented, with few significant and other generic players. Manufacturers like Abbott, LifeScan, Ascensia, etc. occupy a major share.
Spain Self-Monitoring Blood Glucose Devices Market Leaders
-
Roche Diabetes Care
-
Abbott Diabetes Care
-
Ascensia Diabetes Care
-
LifeScan
-
Sinocare
*Disclaimer: Major Players sorted in no particular order
Spain Self-Monitoring Blood Glucose Devices Market News
- January 2023: LifeScan announced that the peer-reviewed Journal of Diabetes Science and Technology published Improved Glycemic Control Using a Bluetooth-Connected Blood Glucose Meter and a Mobile Diabetes App: Real-World Evidence from Over 144,000 People with Diabetes, detailing results from a retrospective analysis of real-world data from over 144,000 people with diabetes-one of the largest combined blood glucose meter and mobile diabetes app datasets ever published.
- January 2022: Roche announced the launch of the Cobas Pulse system in selected countries accepting the CE Mark. The Cobas Pulse system marks Roche Diagnostics' newest generation of connected point-of-care solutions for professional blood glucose management. The Cobas Pulse system combines the form factor of a high-performance blood glucose meter with simple usability and expanded digital capabilities like those of a smartphone.
Spain Self-Monitoring Blood Glucose Devices 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 Market Drivers
- 4.3 Market Restraints
-
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
-
5.1 Component
- 5.1.1 Glucometer Devices
- 5.1.2 Test Strips
- 5.1.3 Lancets
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes population
- 6.2 Type-2 Diabetes population
7. COMPETITIVE LANDSCAPE
-
7.1 COMPANY PROFILES
- 7.1.1 Abbott Diabetes Care
- 7.1.2 Roche Diabetes Care
- 7.1.3 LifeScan
- 7.1.4 Ascensia Diabetes Care
- 7.1.5 Bionime Corporation
- 7.1.6 Menarini
- 7.1.7 VivaChek
- 7.1.8 Rossmax International Ltd.
- 7.1.9 Arkray Inc.
- *List Not Exhaustive
- 7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySpain Self-Monitoring Blood Glucose Devices Industry Segmentation
Self-monitoring of blood glucose is an approach used by diabetic patients to measure their blood sugar level themselves using a glucometer, test strips, and lancets. Based on the readings, patients can adjust or check the effect of their treatment. The Spanish self-monitoring blood glucose device market is segmented by components. The report offers the value (in USD) and volume (in units) for the above segments.
| Component | Glucometer Devices |
| Test Strips | |
| Lancets |
Spain Self-Monitoring Blood Glucose Devices Market Research Faqs
How big is the Spain Self-Monitoring Blood Glucose Devices Market?
The Spain Self-Monitoring Blood Glucose Devices Market size is expected to reach USD 290 million in 2024 and grow at a CAGR of 6.70% to reach USD 381 million by 2029.
What is the current Spain Self-Monitoring Blood Glucose Devices Market size?
In 2024, the Spain Self-Monitoring Blood Glucose Devices Market size is expected to reach USD 290 million.
Who are the key players in Spain Self-Monitoring Blood Glucose Devices Market?
Roche Diabetes Care, Abbott Diabetes Care, Ascensia Diabetes Care, LifeScan and Sinocare are the major companies operating in the Spain Self-Monitoring Blood Glucose Devices Market.
What years does this Spain Self-Monitoring Blood Glucose Devices Market cover, and what was the market size in 2023?
In 2023, the Spain Self-Monitoring Blood Glucose Devices Market size was estimated at USD 270.57 million. The report covers the Spain Self-Monitoring Blood Glucose Devices Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Self-Monitoring Blood Glucose Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Self-Monitoring Blood Glucose Devices Industry Report
Statistics for the 2024 Spain Self-Monitoring Blood Glucose Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Self-Monitoring Blood Glucose Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
