Blood Glucose Monitoring System Market to Grow at a CAGR of 9.9% during 2023-2030; Increasing Diabetes Monitoring Activities to Propel Growth

The blood Blood Glucose Monitoring System market size was USD 15.80 billion in 2022. The market is projected to grow from USD 17.03 billion in 2023 to USD 32.99 billion by 2030 at a CAGR of 9.9% during the 2022-2029 period.

This information is published by Fortune Business Insights™, in its report titled, “Blood Glucose Monitoring System Market Size, Share & COVID-19 Impact Analysis, By Device Type (Continuous Glucose Monitoring (CGM) Systems and Self-Monitoring Blood Glucose (SMBG) Systems), 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 2023-2030”.  

According to the study, key players of blood Glucose Monitoring System focus on implementing innovative product development ideas to introduce new product ranges by incorporating advanced technologies. Also, strategic alliances, partnerships, collaboration, and acquisitions allow companies to expand their business reach.

Increasing Blood Glucose Monitoring Activities amid COVID-19 to Surge Product Demand   

The COVID-19 outbreak has supported the global market due to the increasing diagnosis rate of diabetic patients. Blood glucose level tests are primary and need to be checked before any treatment. Thus, the demand for monitoring systems increased during the pandemic. Also, the companies witnessed growth in production rate due to rising product demand.

Medtronic Received CE Mark Approvals for Two Novel Glucose Monitoring Products    

Medtronic secured two CE mark approvals for the guardian 4 sensor and the inpen MDI smart insulin pen. This allows the company to introduce technologically equipped products to simplify the monitoring process. Also, the company is expected to witness growth due to expansion in production rate and the adoption of recent technologies.

Technological Advancements in Medical Equipment to Stimulate Growth

The blood Glucose Monitoring System market growth is attributed to the increasing prevalence of diabetes and the rising adoption of a sedentary lifestyle. Also, the presence of a large population suffering from insulin-dependent diabetes is expected to drive the market in the coming years. New product launches and innovation in existing products by key players are supporting the market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/blood-glucose-monitoring-market-100648   

Product Development Strategies Allow Key Players to Strengthen their Position

The prominent blood Glucose Monitoring System players implement various business development strategies to expand their business reach. These strategies form alliances, partnerships, acquisitions, and mergers with supporting companies. Also, innovative product development strategies allow companies to enhance their product portfolio.

Notable Industry Development

• June 2022 – Senseonics received the CE mark approval for its Eversense E3 CGM system and is approved for commercialization in selected European markets.

List of Key Players Covered in the Report:

• Abbott (U.S.)


• B. Braun Melsungen AG (Germany)


• Dexcom, Inc. (U.S.)


• Ascensia Diabetes Care Holdings AG (Switzerland)


• Medtronic (Ireland)


• F. Hoffmann-La Roche Ltd (Switzerland)


• Terumo Corporation (Japan)


• LifeScan IP Holdings, LLC (U.S.)


• Senseonics (U.S.)

Further Findings

• North America stood at USD 6.92 billion in 2022 and is expected to dominate the global blood Glucose Monitoring System market share during the forecast period. The increasing adoption of advanced technologies and the growing number of diabetes patients are anticipated to drive the market during the projected period.   


• Based on device type, the market is divided into continuous Blood Glucose Monitoring System and self-monitoring blood glucose systems. The self-monitoring blood glucose systems segment dominated the market in 2022. However, the segment is expected to lose its market share by the end of the forecast period due to high cost of devices and growing penetration of CGM devices globally.

Table of Segmentation