Global Self-Monitoring Blood Glucose Device Market Report by Product (Test Strips, Lancets, Blood Glucose Meters), Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), End-User (Hospital Pharmacies, Retail Pharmacies, Online Sales, and Diabetes Clinics & Centers), Regions and Company Analysis 2024-2032

Global Self-Monitoring Blood Glucose Device Market Analysis

Global Self-Monitoring Blood Glucose Device Market value is anticipated to be about US$ 21.05 Billion by 2032. The CAGR for the market from 2024 to 2032 is 6.76%. Renub Research states that it amounted to US$ 11.68 Billion in 2023.

Self-monitoring of blood glucose, or SMBG, is the term used to describe diabetics' at-home blood glucose testing. Regular blood testing is used in self-monitoring to assess how well one controls their diabetes and to guide modifications to enhance their strength or overall regimen. Identifying the meals or diets that work best for one's control is helpful. It also aids in educating the physician and patient on the effectiveness of the prescribed treatment plan, lessens the fear of and improves comprehension of hypoglycemia. It is necessary to perform risky activities that could be affected by elevated or lowered blood sugar, such as operating machinery and driving.

Global Self-Monitoring Blood Glucose Device Market Trends

•    Growing cases of Diabetes Globally

One of the most prevalent chronic illnesses worldwide is diabetes. Only 5–10% of people with diabetes have type 1, while 90–95% have type 2, as stated by the Centers for Disease Control. Fortunately, healthy lifestyle choices can prevent or postpone type 2 diabetes, while type 1 diabetes cannot be prevented. Most of the time, people with type 2 diabetes can continue taking their medications orally without the need for insulin. Even though diabetes is so preventable, the prevalence statistics are somewhat startling. The International Diabetes Federation's Diabetes Atlas contains more recent projections that place the actual number of people with diabetes as of 2021 closer to 537 million. This study revealed a 27.2% increase in the worldwide diabetes burden between 2014 and 2021. It added 115 million new cases of diagnosed diabetes in just 7 years.

•    Increase in the Prevalence of Obesity

The term "diabesity" originated because of the tight connection between diabetes and fat. Obesity is a significant risk factor for type 2 diabetes mellitus, across all age categories. It has reached epidemic proportions and highlights the necessity of managing obesity effectively to prevent type 2 diabetes worldwide. The global urbanization and modernization trend is the primary cause of the rise in type 2 diabetes and weight issues. This leads to bad eating habits, inadequate exercise, increased stress, and hazardous environmental impacts.

As of 2016, at least 41 million children under the age of five had a BMI of 35 kg/m2 or more, making them overweight or obese, according to the WHO information sheet. If current trends continue, 60% of the world's population may be overweight or obese by 2030. The World Health Organization projects that 44% of diabetes cases are connected to weight issues, and the number of instances of obesity-associated diabetes is expected to treble to 300 million by 2025.

•    Development of Technology

The market is growing due to technological advancements in blood glucose meters, which offer improved accuracy, mobility, and connection. Diabetes management is improved via miniaturization, smartphone integration, continuous monitoring, and AI analytics. They provide excellent tracking and management for the increasing number of people with diabetes and interact with digital fitness systems.

Industry companies also employ various alliances, partnerships, mergers, acquisitions, product enhancements, and expansions to increase their market share.

• In January 2023 - LifeScan declared that a work named "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" had been published in the peer-reviewed Journal of Diabetes Science and Technology. The information in the research comes from a retrospective examination of accurate global records from more than 144,000 individuals with diabetes; this is one of the most remarkable combined datasets of mobile diabetes apps and blood glucose meters ever released.

United States Self-Monitoring Blood Glucose Device Market

The United States is anticipated to expand in the global self-monitoring blood glucose device market. The rise can be attributed to the growing cases of diabetes within the region. The American Presidency Project stated that over 10% of Americans have Type 1, Type 2, or gestational diabetes, and tens of millions more remain vulnerable to this chronic condition.

Integrating cellphone apps for seamless information management and remote monitoring is becoming increasingly common. There is also a shift towards wearable glucose monitoring devices, presenting greater convenience and adherence to tracking regimens. Enhanced user interfaces and analytics tools powered by artificial intelligence contribute to more effective diabetes management.

In June 2023 - Medical diagnostic business Know Labs aspired to launch the arena’s first commercially obtainable non-invasive glucose monitor with its Generation 1 device launch. The tool will connect to a cellphone app to show parameters and statistics. A continually wearable wristband that houses the technology is also on the horizon for the agency.

There is also a trend toward personalized medicine tactics. This ambition is to tailor glucose management techniques to the patient's needs and consciousness of the affordability and accessibility of gadgets through insurance coverage and reimbursement applications.

Global Self-Monitoring Blood Glucose Device Company News

Abbott Laboratories, Medtronic, Dexcom, Inc., B. Braun Melsungen AG, DarioHealth Corp, Sanofi, Bionime Corporation, and Novo Nordisk are the major companies in the global self-monitoring blood glucose device market.

• In November 2023 - To encourage further interaction with new and current members, DarioHealth Corp. announced the release of a new smart blood sugar meter designed for Apple iPhone 15 users. The USB-C charging port on the latest iPhone 15 is a crucial component for Dario's smart blood glucose meter's real-time data collection, as recently revealed. 
• In March 2023 - Astellas Pharma Inc. and Roche Diabetes Care Japan Co., Ltd. announced their partnership for the development and marketing of Roche Diabetes Care's well-known Accu-Chek® Guide Me blood glucose monitoring system, which is known for its advanced accuracy as a medical product that is combined with BlueStar®*. Welldoc, Inc. created BlueStar, a digital health solution for diabetes patients that has received FDA clearance and is being marketed in the United States and Canada. In Japan, Astellas and Welldoc are working together to create BlueStar. Astellas plans to pursue reimbursement and regulatory clearance for its combined medical product.
• In May 2023 - Manufacturer of diabetic gadgets based in South Korea Blood glucose monitoring (BGM) device maker AgaMatrix, based in the United States, will be acquired by i-Sens Inc.
• In February 2023 - Ascensia Diabetes Care Holdings AG, the inventor of the CONTOUR BGM system portfolio, globally partnered with SNAQ, a mobile application that presents nutritional understandings for people with diabetes.

Products – Market breakup in 3 viewpoints:

1.    Test Strips
2.    Lancets
3.    Blood Glucose Meters

Application – Market breakup in 3 viewpoints:

1.    Type 1 Diabetes
2.    Type 2 Diabetes
3.    Gestational Diabetes

End User – Market breakup in 4 viewpoints:

1.    Hospital Pharmacies
2.    Retail Pharmacies
3.    Online Sales
4.    Diabetes Clinics & Centers

Countries – Market breakup in 25 viewpoints:

1.    North America

1.1    United States
1.2    Canada

2.    Europe

2.1    France
2.2    Germany
2.3    Italy
2.4    Spain
2.5    United Kingdom
2.6    Belgium
2.7    Netherlands
2.8    Turkey

3.    Asia Pacific

3.1    China
3.2    Japan
3.3    India
3.4    South Korea
3.5    Thailand
3.6    Malaysia
3.7    Indonesia
3.8    New Zealand
3.9    Australia

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    Middle East & Africa

5.1    Saudi Arabia
5.2    United Arab Emirates
5.3    South Africa

All the Key players have been covered from 3 Viewpoints:

•    Overview
•    Recent Development
•    Revenue Analysis

Company Analysis:

1.    Abbott Laboratories
2.    Medtronic
3.    Dexcom, Inc.
4.    B. Braun Melsungen AG,
5.    DarioHealth Corp,
6.    Sanofi
7.    Bionime Corporation
8.    Novo Nordisk

Report Details: