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Blood Glucose Monitoring System Market Size, Share & COVID-19 Impact Analysis, By Device (Continuous Glucose Monitoring (CGM) System, Self-Monitoring Blood Glucose (SMBG) System); By Modality (Wearable, and Non-wearable); By Type (Non-invasive, and Invasive); By Patient Type (Type 1 Diabetes, and Type 2 Diabetes); By Distribution Channel (Retail Sales, and Institutional Sales), and Regional Forecast 2021-2028

Region : Global | Format: PDF | Report ID: FBI100648

 

KEY MARKET INSIGHTS

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The global blood glucose monitoring (BGM) system market size was USD 13.45 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with blood glucose monitoring systems witnessing a positive demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a stellar growth of 13.7% in 2020 as compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 14.39 billion in 2021 to USD 28.89 billion in 2028 at a CAGR of 10.5% in the 2021-2028 period. The sudden fall in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.


According to the International Diabetes Federation (IDF), in 2020, around 463 million adults were living with diabetes, and among that, 10.0% of patients were suffering from type 1 diabetes and 90.0% from type 2 diabetes. With the increasing prevalence of diabetic patients globally, it is critical for a patient to regularly monitor their blood glucose levels to avoid an episode of hyperglycemia or hypoglycemia.


The adoption of blood glucose monitoring system is growing at a faster pace owing to factors such as the increasing patient pool living with diabetes, rising awareness regarding blood sugar monitoring among patients, and the introduction of novel monitoring devices by key players. This, along with the availability of favorable reimbursement policies for self-monitoring blood glucose (SMBG) and continuous glucose monitoring systems (CGM) in many countries, is expected to further boost the adoption of these devices and will subsequently propel the growth of the market during the forecast period.


Urgency to Expand the Availability of CGM in Hospitals amid COVID-19 Pandemic to Boost Market Growth


The outbreak of COVID-19 has had a positive impact on the blood glucose monitoring system market growth. Few market players reported an increase in their diabetes care revenue due to the pandemic. For instance, in June 2020, Abbott reported that the company’s revenue growth was led by its glucose monitoring device FreeStyle Libre, which witnessed an increase of 59.3% during Q1 2020.


Additionally, with the increasing risk of transmission of coronavirus among diabetic patients, the new focus is being placed on home use monitoring devices to manage the blood glucose level of patients at home. The COVID-19 pandemic has also brought new urgency to assess the feasibility of CGM in hospitals in order to continuously monitor patients with diabetes and to limit healthcare professional’s exposure. Due to this increased demand, in April 2020, the U.S. FDA issued guidance to expand the availability of remote monitoring devices, including CGMs, across healthcare settings in the U.S. Most of the major countries lifted their lockdown and stay-at-home orders by the end of Q3 2020.


This helped to normalize the management of diabetes across healthcare and homecare settings by the end of 2020. However, the recent outbreak of a new strain of COVID-19 in countries such as the U.K., India, and others is further expected to increase the burden on the healthcare system of these countries.


LATEST TRENDS


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Increasing Penetration of Continuous Glucose Monitoring Systems (CGM) is a Vital Trend


The introductions of advanced technologies, such as continuous blood glucose monitoring (CGM) systems by market players, have enabled the real-time monitoring feature for insulin-dependent patients. Also, CGM systems offer several advantages when compared to self-monitoring blood glucose (SMBG) systems, such as minimally invasive in nature, less painful, real-time monitoring, rapid & precise results. Thus, such distinct benefits offered by these devices are one of the major factors shifting the preference of healthcare providers and patients towards the use of CGM.



  • For instance, according to the data published by Abbott, the number of FreeStyle Libre users globally increased from 2.50 million in 2019 to 3.00 million in 2020.


Additionally, at present, only a few companies are emphasizing the research and development of non-invasive CGM systems and have introduced few devices in the European market. Thus, the increasing penetration of CGM and the shifting focus of market players towards non-invasive blood monitoring systems are some of the major trends observed in this market.


DRIVING FACTORS


Rising Prevalence of Diabetes to Boost the Demand for Blood Glucose Monitoring Systems


Several factors, including rapid urbanization and the rising shift towards a sedentary lifestyle, in emerging and developed countries are primarily responsible for the growing prevalence of diabetes. For instance, the International Diabetes Federation (IDF) estimated that around 463 million adults were suffering from diabetes in 2019, and it is expected to reach 700 million by 2045.


Also, a significant increase has been observed in the number of patients suffering from type-1 or insulin-dependent type 2 diabetes, which has been instrumental in surging the uptake of blood glucose monitoring (BGM) systems globally. For instance, according to an article published by the National Centre for Biotechnology Information (NCBI) in 2020, it was estimated that the incidence of type 1 diabetes was 15 per 100,000 people, and the global prevalence was around 9.5% among the total population.


Hence, the presence of a large patient population suffering from insulin-dependent diabetes, new product introduction by market players, and favorable reimbursement are fueling the demand and adoption of diabetes monitoring products, such as BGMs. This is expected to augment the global market growth during the forecast period.


RESTRAINING FACTORS


Lower Diagnosis & Treatment Rate in Emerging Countries to Restrict the Adoption of BGM


The presence of a large proportion of the undiagnosed diabetes population is one of the major factors resulting in the lower adoption of blood glucose monitoring systems, especially in emerging countries. The incidence of delayed diagnosis is higher among countries, such as China, India, South Africa, Brazil, and others, as compared to developed countries. This is due to the lack of awareness among the general population regarding chronic diseases, such as diabetes mellitus. Also, the limited access to developed healthcare infrastructure and the lack of established guidelines by government or private organizations may hinder growth.


For instance, according to a study published by ResearchGate, it was observed that in Africa, almost 2 out of 3 diabetes patients remain undiagnosed, and in Asia Pacific, the proportion of undiagnosed diabetes population is around 55.0%, mainly driven by countries, such as India, China, and Indonesia. Thus, all the above factors, along with the lack of reimbursement policies for CGM & SMBG systems, are primarily responsible for the lower diagnosis and treatment rates and would subsequently limit the adoption of these systems in emerging countries.


SEGMENTATION


By Device Analysis


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Continuous Glucose Monitoring Systems Segment to Grow at a Faster Pace during 2021-2028


The continuous glucose monitoring (CGM) system segment is anticipated to register a higher CAGR during the forecast period. The significant growth of this segment is attributed to the increasing adoption of CGMs in developed and emerging countries due to its ability to monitor the patient’s blood glucose level on a regular basis. For instance, according to a study conducted by the Health Quality Ontario (HQO) in 2018, it was observed that CGM devices were more effective than SMBG in managing type 1 diabetes due to its ease of use, faster results, and minimally invasive procedure.


On the other hand, the self-monitoring blood glucose (SMBG) system segment dominated the market in 2020. However, the segment of the market is expected to lose its share by the end of the forecast period due to the growing penetration of CGM devices globally.


By Modality Analysis


Wearable Segment to Register Higher CAGR due to Robust Pipeline of Market Players


On the basis of modality, the market includes wearable and non-wearable segments. The non-wearable segment held a dominating share of the market in 2020. The presence of a large number of market players with robust portfolios of non-wearable systems is one of the major factors responsible for the dominance of this segment.


However, the wearable segment is expected to grow at a comparatively higher CAGR during 2021-2028 due to the increasing number of product launches of wearable CGM devices by domestic and global manufacturers. This, along with the constant focus of players to introduce wearable SMBG devices in the market by the end of the forecast period, is expected to propel the growth of this segment.


By Type Analysis


New Product Launches to Fuel the Growth of Non-invasive Glucose Monitoring Systems


Among types, the invasive segment held a dominating share of the global market in 2020. At present, the higher use of SMBG devices among diabetic patients is one of the major factors primarily responsible for the dominance of the invasive segment. However, due to the pain associated with finger pricking in invasive monitoring devices, key players are now focusing on introducing a non-invasive alternative in the market to improve the patient’s adherence.


For instance, NovioSense, a Netherland-based startup company, is currently working on a glucose sensor that can be placed under the lower eyelid, and from there, it can directly send glucose measurements to the patient’s smartphone. Thus, the introduction of such convenient alternatives is expected to increase the shift of patients from invasive to non-invasive blood glucose monitoring systems.


By Patient Type Analysis


Type 2 Diabetes Segment to Dominate the Global Market during the Forecast Period


On the basis of patient type, the blood glucose monitoring system market is segmented into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held a dominant share of the global market owing to the comparatively larger patient population suffering from insulin-dependent type 2 diabetes.



  • According to the estimates of the International Diabetes Federation (IDF), around 462 million individuals globally were living with type 2 diabetes in 2020, and among these, 5.0% to 10.0% of the patient population required insulin intensive treatment.


Besides, the type 1 diabetes segment is expected to register a higher CAGR due to the increasing use of a continuous glucose monitoring system (CGM) owing to its clinically proven efficiency in reducing risks of hypoglycemia in type 1 diabetes patients.


By Distribution Channel Analysis


Retail Sales Segment Held a Dominant Share in 2020


Based on distribution channels, the global market includes institutional sales and retail sales. The retail sales segment held a dominating share in 2020 due to the increasing initiatives by market players to expand their presence through retail channels in emerging as well as developed countries in order to strengthen their positions.



  • In March 2021, Omron Healthcare, Inc. announced its plan to expand its retail presence across India. The main aim of the company is to increase the number of retailers in India from 30.0% to 40.0% in the financial year 2021-22.


The institutional sales segment is anticipated to register a comparatively moderate CAGR owing to the lower adoption rate of blood glucose meters in hospitals & clinics. However, due to the outbreak of COVID-19, various medical organizations have recommended expanding the access of CGM in hospitals, which is expected to drive the growth of the institutional sales segment during the forecast period.


REGIONAL INSIGHTS


North America Blood Glucose Monitoring System Market Size, 2020 (USD Billion)

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The blood glucose monitoring (BGM) systems market size in North America stood at USD 5.66 billion in 2020. The increasing number of diabetes patients, growing adoption of technologically advanced medical devices, and higher per capita healthcare expenditure are some of the major factors primarily responsible for the dominance of North America.



  • According to the data published by the Centers for Disease Control & Prevention (CDC), it was estimated that around 34.2 million people in the U.S. were suffering from diabetes in 2020.


However, the market in Europe is anticipated to register a significant CAGR due to the increasing awareness among people regarding diabetes management, along with the rapidly increasing demand for these systems for the regular monitoring of patients at home.



  • For instance, within a year after Abbott launched its FreeStyle Libre in different European countries, more than 50,000 users were present across the region.


Asia Pacific is anticipated to grow at a higher CAGR due to the rising prevalence of insulin-dependent diabetes among the population in this region. Also, diabetic patients in countries such as Japan and Australia are actively taking an interest in the regular and timely monitoring of their glucose levels. This, along with the increasing focus of market players to expand their direct presence in emerging countries, is further expected to propel the growth of this region.


Latin America and the Middle East & Africa are expected to register a moderate CAGR during the forecast period. This is due to the lack of awareness among the general population regarding diabetes care and inadequate reimbursement policies for blood glucose monitoring systems.


KEY INDUSTRY PLAYERS


Diverse Product Portfolio of Major Players to Lead to Their Dominance in This Market


The global blood glucose monitoring system market is consolidated, with few market players accounting for the largest share in terms of self-monitoring blood glucose systems, and few players dominating the field of CGM systems. In 2020, a major share of the global BGM systems market was accounted for by players, such as F. Hoffmann-La Roche Ltd., Abbott, and Dexcom, Inc.


The strong portfolio of SMBG and CGM systems, coupled with the wide distribution network in developed and emerging countries, are primarily responsible for the dominance of these companies globally.


On the other hand, new entrants are currently focusing on introducing novel non-invasive blood glucose monitors to establish their foothold globally.



  • In May 2019, Nemaura Medical Inc. announced that SugarBEAT, its non-invasive, cost-efficient, and flexible continuous glucose monitoring system (CGM), received the CE mark.


The other key market players operating in the market are Medtronic, B. Braun Melsungen AG, Ascensia Diabetes Care Holdings AG, Terumo Corporation, LifeScan, Inc., and Senseonics, Inc.


LIST OF KEY COMPANIES PROFILED:



  • Abbott (Lake Bluff, U.S.)

  • B. Braun Melsungen AG (Melsungen, Germany)

  • Dexcom, Inc. (San Diego, U.S.)

  • Ascensia Diabetes Care Holdings AG (Basel, Switzerland)

  • Medtronic (Dublin, Ireland)

  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)

  • Terumo Corporation (Tokyo, Japan)

  • LifeScan, Inc. (Malvern, U.S.)

  • Senseonics, Inc. (Germantown, U.S.)

  • Other Players


KEY INDUSTRY DEVELOPMENTS:



  • March 2021 – F. Hoffmann-La Roche Ltd. launched the Accu-Chek Instant system to connect directly with the mySugr app and provide real-time blood glucose level data.

  • February 2021 - Ascensia Diabetes Care Holdings AG took over the distribution of EVERSENSE XL of Senseonics, Inc., in Germany, Switzerland, Italy, Spain,  Netherlands, and Poland, intending to fulfill the demand from customers in the European market.


REPORT COVERAGE


An Infographic Representation of Blood Glucose Monitoring Market

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The blood glucose monitoring system market research report provides a detailed analysis of the industry and focuses on key aspects, such as leading companies, devices, modality, patient type, and distribution channels. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.


Report Scope & Segmentation


























































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion)



Segmentation



Device; Modality; Type; Patient Type; Distribution Channel and Geography



By Device




  • Continuous Glucose Monitoring (CGM) System

  • Self-Monitoring Blood Glucose (SMBG) System



By Modality




  • Wearable

  • Non-wearable



By Type




  • Non-invasive

  • Invasive



By Patient Type




  • Type 1 Diabetes

  • Type 2 Diabetes



By Distribution Channel




  • Institutional Sales

  • Retail Sales



By Geography




  • North America (By Device, By Modality, By Type, By Patient Type, By Distribution Channel, and By Country)

    • The U.S. (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Canada (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)



  • Europe (By Device, By Modality, By Type, By Patient Type, By Distribution Channel, and By Country)

    • The U.K. (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Germany (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • France (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Italy (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Spain (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Rest of Europe



  • Asia Pacific (By Device, By Modality, By Type, By Patient Type, By Distribution Channel, and By Country)

    • China (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Japan (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • India (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Australia (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Korea (By Device, By Modality, By Type, By Patient Type, By Distribution Channel)

    • Rest of Asia Pacific



  • Rest of the World (By Device, By Modality, By Type, By Patient Type, and By Distribution Channel)



Frequently Asked Questions

Fortune Business Insights says that the global market stood at USD 13.45 billion in 2020 and is projected to reach USD 28.89 billion by 2028.

In 2020, North America stood at USD 5.66 billion.

The market will exhibit steady growth at a CAGR of 10.5% during the forecast period (2021-2028).

Based on devices, the self-monitoring blood glucose (SMBG) system segment will lead the market.

The rising prevalence of diabetes wounds and the introduction of advanced products for monitoring blood glucose levels are the key drivers of the market.

F. Hoffmann-La Roche Ltd., Abbott, and Dexcom Inc. are the top players in the market.

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Blood Glucose Monitoring Market Size, Share and Global Industry Trend Forecast till 2026
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