Market Size of United Kingdom Blood Glucose Monitoring Industry
Study Period | 2021- 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 557.34 Million |
Market Size (2029) | USD 834.18 Million |
CAGR (2024 - 2029) | 8.40 % |
Market Concentration | Medium |
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?
United Kingdom Blood Glucose Monitoring Market Analysis
The United Kingdom Blood Glucose Monitoring Market size is estimated at USD 557.34 million in 2024, and is expected to reach USD 834.18 million by 2029, growing at a CAGR of 8.40% during the forecast period (2024-2029).
One of the most significant risk factors for a severe course of COVID-19 is diabetes mellitus. This risk is believed to be influenced by several variables that are 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). Diabetes was quickly recognized as a risk factor for bad results during the COVID-19 pandemic. That's why managing or delaying cases of type 2 diabetes became more important than ever before. Several studies have confirmed that chronic diseases like diabetes are associated with adverse outcomes in COVID-19 patients.
Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and, thus, incur more healthcare expenses compared to non-diabetic people. People with diabetes face a higher chance of experiencing serious complications from COVID-19. In general, people with diabetes are more likely to experience severe symptoms and complications when infected with a virus. Diabetes and high glucose levels are associated with increased complications, respiratory failure, and mortality in hospitalized patients with coronavirus.
According to The British Diabetic Association, 'The pandemic has had, and continues to have, a huge impact on our society. But research and data have shown that people with diabetes have been disproportionately affected by COVID-19, particularly in terms of poorer outcomes when contracting the virus. That's why preventing or delaying cases of type 2 diabetes is more important than ever before.'
The pandemic also highlighted opportunities for continuing and expanding innovations in the delivery of diabetes care, through virtual consultations between healthcare providers and people with diabetes, and the use of diabetes technology. Crisis management has created unprecedented interest in remote care from both patients and providers and removed many long-standing regulatory barriers. Thus, the COVID-19 outbreak increased the blood glucose monitoring market's growth.
United Kingdom Blood Glucose Monitoring Industry Segmentation
Blood glucose monitoring devices are used to diagnose both hyperglycemic and hypoglycemic conditions in diabetic patients. The United Kingdom's blood glucose monitoring market is segmented into types and components. The report offers the value (in USD) and volume (in units) for the above segments.
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United Kingdom Blood Glucose Monitoring Market Size Summary
The United Kingdom blood glucose monitoring market is poised for significant growth, driven by the increasing prevalence of diabetes and the rising demand for effective management solutions. The market is experiencing a surge in interest due to the heightened awareness of diabetes as a critical risk factor during the COVID-19 pandemic. This has led to a greater emphasis on managing and delaying type 2 diabetes, thereby boosting the demand for blood glucose monitoring devices. The integration of advanced technologies, such as continuous glucose monitoring systems, is further propelling market expansion. These innovations offer enhanced convenience and accuracy in monitoring blood glucose levels, supporting better health outcomes for patients.
The market landscape is characterized by moderate fragmentation, with key players like Abbott, Dexcom, and Medtronic leading the charge in technological advancements and product development. The continuous glucose monitoring segment, in particular, is expected to witness robust growth, driven by improvements in sensor accuracy and the increasing adoption of these devices among diabetes patients and their caregivers. Regulatory support and initiatives like the National Service Framework program are also contributing to the market's positive outlook by setting standards and fostering collaboration among diabetes technology companies. As the UK diabetes population continues to grow, the blood glucose monitoring market is well-positioned to capitalize on the increasing healthcare expenditure and demand for innovative diabetes management solutions.
United Kingdom Blood Glucose Monitoring 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 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 Type
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2.1.1 Self-monitoring blood glucose devices
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2.1.1.1 Glucometer Devices
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2.1.1.2 Test Strips
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2.1.1.3 Lancets
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2.1.2 Continuous blood glucose monitoring devices
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2.1.2.1 Sensors
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2.1.2.2 Durables (Receivers and Transmitters)
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2.2 Distribution Channel
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2.2.1 Online
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2.2.2 Offline
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United Kingdom Blood Glucose Monitoring Market Size FAQs
How big is the United Kingdom Blood Glucose Monitoring Market?
The United Kingdom Blood Glucose Monitoring Market size is expected to reach USD 557.34 million in 2024 and grow at a CAGR of 8.40% to reach USD 834.18 million by 2029.
What is the current United Kingdom Blood Glucose Monitoring Market size?
In 2024, the United Kingdom Blood Glucose Monitoring Market size is expected to reach USD 557.34 million.