Glucose Monitoring Devices Market Scope Report | 2020-2030

The glucose monitoring devices market size is expected to grow from US$ 16,803.63 million in 2022 to US$ 39,530.75 million by 2030; it is estimated to register a CAGR of 11.3% from 2020 to 2030.

Analyst’s ViewPoint

The glucose monitoring devices market analysis explains market drivers such as the rising incidence of diabetes, growing geriatric population, and the increasing prevalence of obesity. Further, rapid technological advancements in glucose monitoring devices are expected to introduce new trends in the market during 2022–2030. Based on type, the glucose monitoring devices market is segmented into continuous glucose monitoring devices and self-glucose monitoring devices; the self-glucose monitoring devices segment accounted for a larger share in 2022. Based on application, the type 2 diabetes segment dominated the market by accounting maximum share. By testing site, the fingertip testing segment is likely to account for a considerable share of the glucose monitoring devices market during the forecast period. Based on end user, the self/homecare segment is expected to account for a maximum share of the glucose monitoring devices market during 2022–2030.

Monitoring blood sugar is a vital part of diabetes management. A glucometer or blood sugar meter is commonly used for blood glucose monitoring. It involves taking a small drop of blood, usually by pricking the fingertip and placing it on the test strip in a glucometer. Blood sugar levels are measured in milligrams per deciliter (mg/dl), with standard guidelines for safe blood sugar ranging from 70 to 180 mg/dl.

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Glucose Monitoring Devices Market: Strategic Insights

Market Size Value in	US$ 16,803.63 million in 2022
Market Size Value by	US$ 39,530.75 million by 2030
Growth rate	CAGR of 11.3% from 2020 to 2030
Forecast Period	2020-2030
Base Year	2022

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Market Insights

Rising Incidence of Diabetes Fuels Glucose Monitoring Devices Market Growth

Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two types of diabetes—diabetes type-I (also known as diabetes insipidus) and diabetes type-II (also termed diabetes mellitus). The incidence and prevalence of diabetes are steadily increasing across the world. Type 2 diabetes is the most prevalent form of diabetes and has increased alongside cultural and societal changes. In high-income countries, up to 91% of adults with the disease have type 2 diabetes. According to the International Diabetes Federation (IDF), approximately 537 million people were living with diabetes in 2021, and the number is expected to reach 738 million by 2045 globally.

Prevalence of Diabetes Worldwide, 2021

Source: International Diabetes Federation

Diabetes can lead to various complications in many parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss, and nerve damage are the major complications of this disease. Patients suffering from diabetes require frequent monitoring and external administration of insulin. The rising prevalence of diabetes across the globe is driving the growth of the glucose monitoring devices market.

Future Trend

Rapid Technological Advancements in Glucose Monitoring Devices

Products with advanced technologies offer more effective benefits in diabetes treatment. As the prevalence of diabetes increases worldwide, the demand for more products with advancements also rises. Thus, research studies conducted by researchers are resulting in product innovations every year. There are many methods to deliver insulin into the body, such as needles, insulin pens, and insulin pumps. Insulin pumps are small, computerized diabetes management devices connected with a cannula under the skin to deliver a slow, continuous insulin level. The individual can control the program depending on the requirements. Optimal diabetes management depends on accurate glucose monitoring devices. Advancements in glucose monitoring devices have resulted in smaller required blood volumes with improved accuracy. The ability to transfer data between the blood glucose meter and glucose monitoring devices has also been improved. The increasing advancements in blood glucose monitoring technology have improved accuracy, smaller required blood volumes, and the ability to transfer data between the blood glucose meter and glucose monitoring devices. In June 2022, Abbott announced a new biowearable that continuously monitors glucose and ketone levels using a single sensor. The system has secured breakthrough device designation from the US Food and Drug Administration (FDA), designed to expedite the review of innovative technologies that can improve the lives of people with life-threatening or irreversibly debilitating diseases or conditions. Also, in April 2023, Medtronic plc announced the US FDA approving its MiniMed 780G system featuring the Guardian 4 sensor. Enabled with in SmartGuard technology, the system does not require fingersticks for operation. It provides insulin to help users when they forget to bolus or underestimate the number of carbs in their meals. Dexcom has partnered with various distributors in Southeast Asia and Europe. Similarly, Abbott has expanded its Diabetes Care division with offices in pivotal markets such as Japan, India, and China. Thus, the technological advancements, coupled with the increasing influx of new products, are expected to propel the glucose monitoring devices market growth over the forecast years.

Report Segmentation and Scope

Type-Based Insights

Based on type, the glucose monitoring devices market is bifurcated into continuous glucose monitoring devices and self-glucose monitoring devices. The continuous glucose monitoring devices is further categorized into sensors, transmitters, and receivers. The self-glucose monitoring devices segment is further categorized into testing strips, glucose meters, lancets, and others. The self-glucose monitoring devices segment held a larger market share in 2022. The continuous glucose monitoring devices segment is expected to record a significant CAGR during 2022–2030. According to the Clinton Health Access Initiative (CHAI) 2021 report, over 100 vendors supply self-glucose monitoring devices (SGMDs) worldwide. Owing to the need for a continuous supply of consumables such as SGMDs test strips and lancets, suppliers strive to have adequate production capacities and robust process planning. Additionally, test strips drive the revenue of SGMD suppliers, people living with diabetes require several testing steps per day, resulting in high-volume consumption. However, many suppliers offer glucometers free of cost to encourage consumers to switch to the testing platform, thereby driving the sales of their test strips and reducing revenue generation from glucose meters. Further, a robust supply chain, involving private pharmacies, is critical for suppliers to meet the demand for GGMDs from low- and middle-income countries (LMICs). They are also improving the supply of SGMDs in LMICs by building parallel service delivery channels. For example, suppliers often work with NGOs and collaborate with CSR initiatives of the three largest insulin providers to donate test strips and meters free of cost to patients or physicians in countries with limited procurement capabilities. Further, suppliers can plan for high production capacity and avoid expanding into new markets, ensuring that the demand in existing markets is met. In the long run, they may establish new manufacturing sites or partnerships to ramp up their overall production capacity and expedite entry into new markets.

Application-Based Insights

Based on application, the global glucose monitoring devices market is bifurcated into bifurcated into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held a larger market share in 2022. However, the type 1 diabetes segment is anticipated to register a higher CAGR during the forecast period. Type 1 diabetes (previously known as insulin-dependent, juvenile, or childhood-onset) is characterized by deficient insulin production, requiring daily administration of insulin. According to the Beyond Type 1 report, globally, ~8.7 million people are suffering from type 1 diabetes, which has resulted in a four-times rise in the rate of diagnosis. In the US, ~1.45 million Americans suffer from type 1 diabetes, and nearly 2.1 million people are expected to be diagnosed with the disease by 2040, with cases growing at a rate of 2.9% annually, compared to population growth of 0.8% per year. Similarly, in the UK, 1 in every 430–530 people under the age of 19 have type 1 diabetes. As per the estimates of DiabetesUK BeyondType 1 report, ~10% of 3.7 million people living with diabetes have type 1 diabetes as per the BeyondType 1 report.

According to a report by the Centers for Disease Control and Prevention (CDC), more than 37 million Americans (~1 in 10) have diabetes, and nearly 90–95% of them have type 2 diabetes. Type 2 diabetes is often developed in people over age 45. However, an increasingly large number of children, teens, and young adults are also developing it nowadays. The key risk factors associated with the rise in type 2 diabetes cases are urbanization, aging, decreasing physical activity, and increasing overweight and obesity prevalence. The British Diabetic Association report reveals that 4.3 million people in the UK live with diabetes, while 850,000 people may be living with the condition yet to be diagnosed. Among the 4.3 million diabetic population in the UK, ~90% of the people suffer from type 2 diabetes. Type 2 diabetes is more prevalent than type 1 diabetes. As per the International Diabetes Federation (IDF) 2023 report, type 1 is rare and occurs at a rate of only 5–10% worldwide.

Testing Site-Based Insights

In terms of testing site, the glucose monitoring devices market is bifurcated into fingertip testing and alternate site testing. The fingertip testing segment held a larger share of the market in 2022, and the same segment is anticipated to register a highest CAGR during the forecast period.

According to a report by the National Institute of Health (NIH), glucose monitoring through finger-tip testing accounts for a considerable share of diabetes management services. Fingerstick blood sugar testing is the most common and convenient way of glucose monitoring among people with diabetes. They can adopt personal blood glucose meters and blood glucose test strips enabling the self-monitoring of blood sugar levels. Therefore, fingerstick or fingerprick at home is a quick and cost-effective way of checking blood sugar levels throughout the day, which further assists in necessary treatment decisions such as insulin doses.

Alternate site testing involves the palm, forearm, or upper arm for testing blood glucose. This testing can only be applied when blood sugar is stable. A report by the American Diabetes Association reveals that alternate site testing of blood glucose is a promising new advancement in diabetes care, with several blood glucose meters being accredited with FDA approvals for testing sites. These glucometers include Freestyle, At Last meters, One Touch Ultra and One Touch FastTake (LifeScan), and Sof-Tact (Abbott). However, a clinical study reveals that there is a delay in the detection of blood glucose changes when a sample is taken from the forearm (alternate site) as compared to the forearm. Therefore, when SGMD results were compared with laboratory-determined blood glucose values, readings obtained from fingertip blood were closely correlated with the laboratory values/specifications, while forearm blood readings were quite higher than the specified standards. Such errors from alternate site testing may prove problematic for patients suffering from hypoglycemia or who have low awareness. Thus, fingerstick testing has become a standard SGMD, while the alternate site testing option has a low adoption rate in the glucose monitoring devices market.

End User-Based Insights

By end user, the market is bifurcated into healthcare settings and self/homecare. The self/homecare segment held a larger share of the market in 2022, and the healthcare settings segment is anticipated to register a higher CAGR in the glucose monitoring devices market during the forecast period.

Glucose Monitoring Devices Market, by Type – 2022 and 2030

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Regional Analysis

North America dominated the glucose monitoring devices market in 2022 accounting maximum share. In North America, the US is the largest market for glucose monitoring devices. According to the American Diabetes Association report, more than 37 million children and adults have diabetes in the US alone. The estimated total costs of diagnosed diabetes in the US account for US$ 16,752 annually, among which US$ 9,601 is attributed to diabetes. Also, the US holds high expenditure on hospital inpatient care (30% of the total medical cost), prescription medications to treat complications of diabetes (30%), anti-diabetic agents and diabetes supplies (15%), and physician office visits (13%). Such high cost highlights the substantial burden of diabetes on US citizens. With such high incidence and healthcare expenditure of diabetes in the US, the adoption of glucose monitoring devices among US citizens is accelerated, thereby fueling the overall market growth.

Asia Pacific is anticipated to record the highest CAGR in the glucose monitoring devices market during the forecast period 2020-2030. The market in China is growing at a notable pace due to the rising awareness of diabetes diagnosis. India holds second largest share in the market in Asia Pacific due to the high prevalence of diabetes in the country. The prevalence of diabetes is significantly higher in China, with the incidences of type 2 diabetes increasing rapidly in the country over the past few decades. Type 2 diabetes has become a leading problem in the country as it is more commonly found in the lower age group people. As per the article “Projected rapid growth in diabetes disease burden and economic burden in China,” published in 2023, diabetes prevalence in Chinese adults aged 20–79 years was projected to increase from 8.2% to 9.7% during 2020–2030. During the same period, the total costs of diabetes is expected to increase from US$ 250.2 billion to $460.4 billion, corresponding to an annual growth rate of 6.32%. The total costs of diabetes as a percentage of GDP are anticipated to increase from 1.58% to 1.69% in China during 2020–2030, hampering the country’s economic growth. As the country is among the emerging market in terms of healthcare, various players are expanding their business in China. It is also experiencing a rise in the number of start-up companies that significantly contribute to the market growth.

Owing to growing developments in the healthcare sector, national and international players is Asia Pacific are aggressively catalyzing their research for development activities to introduce innovative glucose monitoring devices. In June 2021, Abbott Laboratories, a US-based multinational medical device company, collaborated with Beijing Medical Award Foundation to launch a demonstrative glucose monitoring program to promote for more intelligent diabetes management in China. In November 2022, Roche featured two new glucose meter products—ACCU-CHEK Instant Glucometer and ACCU-CHEK Guide Me Glucometer—and a new digital diabetes management platform at the China International Import Expo (CIIE) to provide patients with professional and easier diabetes management solutions. Thus, the emergence of players and the rising number of product approvals in the country are expected to propel the glucose monitoring devices market growth in China in the future.

India is witnessing rapid developments in healthcare. The rising prevalence of diabetes and robustly increasing geriatric population are contributing to the growth of the glucose monitoring devices market in the country. As per the International Diabetes Federation 2020, it is estimated that 77.3 million adults live with diabetes in India, and the number is expected to reach 101.2 million by 2030. The WHO has predicted that there will be 10 crore Indians with diabetes in the next 10 years. Several entrants are entering the market, which is further propelling the market for glucose monitoring devices. In November 2020, Abbott unveiled a do-it-yourself version of its continuous glucose-monitoring device in India, a decision prompted by the pandemic. The reader is a one-time cost to the consumer at US$ 66.61, while the sensor is a recurring cost of US$ 60.55, possibly every 3 months. The sensor gives continuous readings for 14 days and analytics cover a 3-month period, mapping the sugar levels against diet, exercise, etc. The growing Indian market offers opportunities for international companies to increase their revenues owing to improving healthcare facilities in the country.

The report profiles leading players operating in the global glucose monitoring devices market. These include B. Braun SE, F. Hoffmann-La Roche Ltd, LifeScan Inc, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, Ascensia Diabetes Care Holdings AG, Nipro Corp, GE HealthCare Technologies Inc, Terumo Corp, and Senseonics Holdings Inc.

• In April 2023, Medtronic plc received US Food and Drug Administration (FDA) approval for its MiniMed 780G system incorporated with the Guardian 4 sensor. The system enabled by SmartGuard technology requires no fingersticks to operate. This milestone marks the approval of the only Meal Detection technology system that automatically adjusts sugar levels every 5 minutes.
• In April 2023, Abbott received FDA clearance for a reader for its integrated continuous glucose monitoring (iCGM) system—FreeStyle Libre 3. The system features the world's smallest, thinnest, and most discreet glucose sensor. The FreeStyle Libre 3 reader is a small handheld device that displays glucose readings in real time, directly from a small sensor worn on the back of a person's upper arm, allowing them to quickly and easily manage their condition by viewing their glucose readings on an easy-to-see screen.

Company Profiles

• B. Braun SE
• F. Hoffmann-La Roche Ltd
• LifeScan Inc
• Medtronic Plc
• Abbott Laboratories
• Ypsomed Holding AG
• Ascensia Diabetes Care Holdings AG
• Nipro Corp
• GE HealthCare Technologies Inc
• Terumo Corp
• Senseonics Holdings Inc