Glucose Monitoring Devices Market

The global Glucose Monitoring Devices market size was USD 14.1 billion in 2023, and is calculated at USD 15.67 Billion in 2024. The market is projected to reach USD 44.88 Billion by 2034, and register a revenue 11.1% over the forecast period (2025-2034).

Premium Insights:

Global Glucose Monitoring Devices market has been registering rapid revenue growth over the recent past, driven by rising global prevalence of diabetes, inclining obesity rates, increasing rates of Polycystic Ovary Syndrome (PCOS), sedentary lifestyles, rapidly aging population, increasing health awareness among individuals, and growing preventive healthcare trend. Rising prevalence of diabetes is driving demand for effective glucose monitoring and management solutions and technological advancements, such as Continuous Glucose Monitoring (CGM) systems and non-invasive devices, are enhancing convenience, accuracy, and real-time monitoring capabilities, and this combined is further driving adoption of various devices on the market. Also, integration of Glucose Monitoring Devices with wearable technologies and smartphone applications is expanding usability and appeal to a broader audience, including fitness enthusiasts and those seeking preventive healthcare solutions.

Rising prevalence of diabetes is s global concern, and according to the International Diabetes Federation (IDF), around 537 million adults aged 20–79 years are living with diabetes. This includes both type 1 and type 2 diabetes, and both diagnosed and undiagnosed cases. This figure is expected to continue to rise steadily, and the IDF Diabetes Atlas predicts the number of adults with diabetes will rise to 643 million by 2030 and 783 million by 2045. This is substantially high, considering that the global population is only growing by an estimated 20% over the same period. The number is further expected to rise, and the number of people living with diabetes is expected to more than double globally by 2050. Statistics from research published in The Lancet mid-2023, estimates the number to surge from 529 million people living with diabetes in 2024 to at least 1.3 billion in 2050.

Governments, healthcare organizations, medical device manufacturing companies, as well as research centers are focusing on addressing crucial needs to monitor and manage the conditions and effects of this sometimes-life-threatening disease. Also, as the number of younger individuals being diagnosed with diabetes continues to increase, the urgency for action becomes more pronounced, and this is another factor supporting growth of the market. Supportive healthcare policies, government funding, and continuous Research and Development (R&D) efforts are resulting in innovation and enabling introduction of more affordable devices for a broader consumer base. These factors are expected to support revenue growth of the Glucose Monitoring Devices market over the forecast period.

Demand for various types of Glucose Monitoring Devices has been increasing significantly, especially in developed countries. Demand has also been increasing in developing economies, and regions where prevalence of diabetes has been rising rapidly. Glucose Monitoring Devices are essential for measuring glucose levels in the blood, and these devices are broadly classified into two categories: traditional Glucose Monitoring Devices, often referred to as Blood Glucose Monitors (BGMs), and Continuous Glucose Monitoring Devices (CGMs). Both types serve the primary purpose of helping individuals, especially those with diabetes, manage their blood sugar levels. Other devices include Flash Glucose Monitoring (FGM) systems and other wearable sensors.

Continuous glucose monitors (CGMs) and Flash GM devices are also used during pregnancy to monitor blood sugar levels, and are considered safe and effective in pregnancies associated with diabetes. can Use of CGMs help women achieve glucose goals and reduce hypoglycemia, but there are still some controversial findings regarding whether CGMs improve perinatal outcomes in patients with gestational diabetes.

Reading or monitoring using CGMs is done with a sensor, which is inserted under the skin to measure glucose levels in the fluid between cells. The sensor is connected to a receiver, either a smartphone, insulin pump, or wireless device. CGMs enable healthcare personnel to make decisions about insulin doses, pump settings, food choices, and physical activity for women in pregnancy. Similar to CGMs, but without a transmitter, flash GM devices come with a sensor and a reader, which can be scanned using smartphone, or smart device to check glucose level. Flash GM devices are a bit more advanced and display graphs that show patterns and trends in glucose levels.

Technological advancements and innovation continues to result in the introduction of more sophisticated Glucose Monitoring Devices and applications. This is driving focus on and preference for non-invasive monitoring techniques, with new applications like the sugarBEAT patch, which uses electric currents to measure glucose levels without skin punctures gaining major traction. Accuracy of readings is also a key factor that drives preference for a specific type or brand of device. Major players such as Dexcom, Abbott, and Medtronic hold superior positions in the global Glucose Monitoring Devices market, with major focus on innovation and development of advanced systems, including the recently launched Dexcom G7 CGM for instance, which is reported to offer improved accuracy and user experience.

Top Glucose Monitoring Devices Market Drivers and Trends:

• Rising Diabetes Prevalence: Rising prevalence of diabetes globally is a primary factor driving market growth. This surge in diabetes is expected to continue to drive demand for effective monitoring solutions, as individuals require regular and accurate assessments of their blood sugar levels.
• Technological Advancements: Technology is playing and will continue to play a pivotal role in growth of the Glucose Monitoring Devices market. Increasing dependence on connected devices, smartphones, and the advantages of continuous glucose monitoring systems that offer real-time data and seamless integration with mobile applications and insulin pumps are some key factors. Such innovations are enhancing user experience and facilitating better diabetes management, leading to increased adoption rates among patients. Moreover, supportive reimbursement policies for these devices in various countries are further encouraging affordability and usage.
• Increasing Demand from Hospitals: Demand for Glucose Monitoring Devices across the healthcare sector is rising, with hospitals being the most significant end-user. These devices are used in hospitals and clinics for acute diabetes management, and to enhance patient outcomes. Adoption in home care settings is also increasingly, with adoption of Self-Monitoring Blood Glucose (SMBG) devices being relatively high due to convenience and flexibility for patients to manage their conditions independently.
• Advantages of Digital Integration: Digital health integration is allowing for remote monitoring and real-time data sharing with healthcare providers, which promotes proactive and personalized diabetes care. Also, the advantages and benefits of digital integration and remote healthcare and patient monitoring were highlighted during the COVID-19 pandemic. During and thereafter, this trend has been gaining steady traction and increasing availability and rising awareness regarding home-based monitoring solutions are accelerating adoption of glucose monitoring technologies.
• Telehealth Services and Preventive Healthcare: Rise of telehealth services and increased focus on preventive healthcare and wellness through adoption of healthier lifestyles are also contributing to growth of the Glucose Monitoring Devices market.

Glucose Monitoring Devices Market Restraining Factor Insights

• High Costs of Devices and Consumables: Costs associated with Glucose Monitoring Devices, particularly continuous glucose monitors, can present a significant barrier to accessibility for many individuals with diabetes. Out-of-pocket expenses for such devices and systems can be significantly high, especially in developing economies and budget constrained healthcare organizations. This factor coupled with inability to access comprehensive health insurance in such economies can have a significant impact on potential market growth.
• Research and Development Challenges: Manufacturers face substantial Research and Development (R&D) challenges, including competitive, regulatory body, and consumer pressures to improve the accuracy and reliability of devices, particularly among older patients and those with specific conditions. Use of sensor technologies and inconsistent demonstration in terms of accuracy or usability can also restrain user adoption. In addition, new diabetes medications that influence glucose levels may challenge existing CGM technologies.
• User Experience and Disadvantages: A number of disadvantages are impacting adoption rates of Glucose Monitoring Devices. Issues such as erratic or poor Bluetooth connectivity problems, site irritation from sensor insertions, and the need for regular calibration can frustrate users. Furthermore, the reliance on semi-invasive techniques may deter potential users who seek non-invasive alternatives for glucose monitoring.
• Impact of Reimbursement Policies: Current reimbursement landscape can have negative impact on wider adoption of Glucose Monitoring Devices. Variations in coverage among different health insurance plans can lead to high out-of-pocket costs for patients, limiting access to essential diabetes monitoring technologies. This lack of consistent support can restrain market growth and user adherence to prescribed monitoring regimens.

Glucose Monitoring Devices Market Opportunities

• Non-Invasive Glucose Monitoring Technologies: Development of non-Invasive glucose monitoring technologies presents significant opportunities in the market. Products like the GlucoRx BioXensor, which utilize radio frequency technology for continuous monitoring without skin punctures, are gaining preference among users, and such alternatives to more invasive approaches to glucose monitoring can be appealing to an increasing number of health-conscious consumers.
• Data Analytics Integration and Personalization: Integrating data analytics and providing personalized diabetes management solutions can create additional revenue streams. Manufacturers can leverage the vast amounts of data generated from continuous glucose monitors to offer tailored health insights and lifestyle recommendations, potentially partnering with healthcare providers or insurers to enhance patient care and adherence.
• Mergers and Acquisitions: Companies can explore mergers and acquisitions and gain access to innovative startups or form alliances with tech companies. This strategy can enable established players to enhance their product offerings and quickly adapt to emerging trends such as telehealth. Expansion into emerging markets, particularly in regions with rising diabetes prevalence, can also drive growth. This can be further leveraged through development and introduction of affordable and effective glucose monitoring solutions to suit affordability and local needs in specific, and large and untapped market segments.

Glucose Monitoring Devices Market Segmentation:

By Diabetes Type:

• Type 1 Diabetes
• Type 2 Diabetes
• Gestational Diabetes

By Product:

• Self-Monitoring Blood Glucose Devices
• Continuous Glucose Monitoring Systems
• Flash Glucose Monitoring Systems
• Smartphone Apps
• Wearables

By End-Use:

• Hospitals
• Clinics
• Home Care Settings
• Diagnostic Centers

By Distribution Channel:

• Retail Sales
• Institutional Sales

Segment Insights:

By Diabetes Type:

The Type 2 diabetes segment is expected to account for the largest revenue share among the diabetes type segments over the forecast period. This projection is supported by increasing prevalence of Type 2 diabetes worldwide, which is primarily driven by rising obesity rates, sedentary lifestyles, aging global population, and increasing number of women with Polycystic Ovary Syndrome (PCOS), which increases the risk of developing type 2 diabetes. According to the International Diabetes Federation, the majority of diabetes cases are classified as Type 2, accounting for approximately 90% of all diabetes diagnoses.

By Product:

The Continuous Glucose Monitoring (CGM) systems segment among the product segments is projected to account for largest revenue share over the forecast period. This growth can be attributed to the increasing adoption of CGM systems among patients with Type 1 diabetes, as these devices provide real-time glucose monitoring and alerts for hyperglycemia and hypoglycemia. The convenience of continuous monitoring allows users to make immediate adjustments to their insulin dosages and dietary choices based on glucose fluctuations, significantly improving glycemic control. In addition, advancements in CGM technology, such as enhanced accuracy and integration with mobile applications and insulin pumps, are expected to contribute rising demand for CGM devices.

By End-User:

The hospital segment is expected to account for largest revenue share among the end-user segments in the Glucose Monitoring Devices market over the forecast period. This projection is supported by the growing number of hospitalizations related to diabetes and its complications, as hospitals require reliable, instantaneous data for effective patient management. Glucose Monitoring Devices play a crucial role in inpatient settings, where prompt and accurate measurements are vital for adjusting treatment plans and preventing adverse outcomes. Popularity of Point-Of-Care Testing (POCT) devices is also increasing owing to convenience for patients and cost-effectiveness in diabetes management using these devices. Moreover, integration of continuous glucose monitoring systems into hospital protocols further enhances patient safety and treatment efficacy by allowing healthcare professionals to monitor patients closely and respond swiftly to drastic changes in glucose levels. In addition, increasing healthcare expenditure and supportive policies are supporting use of advanced medical technologies, including Glucose Monitoring Devices, in hospitals.

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By Distribution Channel:

Among the distribution channel segments, the retail sales segment is expected to account for largest revenue share over the forecast period. This projection is supported by the shift in consumer behavior towards purchasing healthcare products through accessible retail outlets, including pharmacies and online platforms, owing to convenience, visibility, delivery, discounts, warranties, and other benefits. In addition, consumers can access these devices easily and without need for a prescription or consulting with healthcare personnel or expert. This flexibility is especially favorable for individuals seeking to monitor health and wellness parameters and indications, driven by preventive healthcare and fitness trends. Also, expansion of online health platforms and telemedicine options are further enhancing accessibility, making it easier for consumers to purchase glucose monitoring tools as part of their daily health management routine. Moreover, key players are strategically focusing on building strong retail partnerships to ensure product availability, and this is another major factor driving growth of the retail sales segment.

Regions and Countries

North America

• United States
• Canada
• Mexico

Europe

• Germany
• United Kingdom
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India

Rest of Asia Pacific

• Latin America
• Brazil
• Argentina

Rest of Latin America

• Middle East & Africa
• Saudi Arabia
• South Africa
• United Arab Emirates
• Israel
• Rest of MEA

Glucose Monitoring Devices Market Regional Landscape:

Among the regional markets, the North America Glucose Monitoring Devices market accounted for largest revenue share in 2023, and this is attributed to presence of advanced healthcare infrastructure and favorable reimbursement policies. The US is the leading market in the region, driven by high prevalence of diabetes and increasing focus on innovative diabetes management technologies.

The Asia Pacific Glucose Monitoring Devices market is expected to register fastest revenue growth rate, with China and India emerging as significant markets due to large populations and rising prevalence of diabetes. China, in particular, accounts for largest revenue share contribution to the regional market, with approximately 129 million reported cases of diabetes, highlighting a substantial demand for glucose monitoring solutions.

Europe Glucose Monitoring Devices market is also registering significantly steady demand for various devices, with Germany leading in terms of number of devices sold. This can be attributed to rapidly aging population and strong emphasis on chronic disease management in the country. Growth of the Latin America Glucose Monitoring Devices market growth is driven majorly by Brazil and Mexico, where healthcare expenditure and rising number of diabetic patients are key factors. The Middle East and Africa Glucose Monitoring Devices market has also been registering incline in sales of various Glucose Monitoring Devices more recently. Increasing demand is primarily driven by rising prevalence of diabetes and awareness in this regard, as well as improving healthcare infrastructure.

Glucose Monitoring Devices Market Competitive Landscape:

Company List:

• Abbott Laboratories
• Dexcom Inc.
• Medtronic PLC
• Roche Holding AG
• LifeScan Inc.
• Senseonics Holdings, Inc.
• Ascensia Diabetes Care
• Arkray Inc.
• Sinocare Inc.
• Menarini Diagnostics S.r.l
• Ypsomed AG
• Nemaura Medical Inc.
• i-Sens Inc.
• Medtrum Technologies
• Omron Healthcare Inc.

Competitive Landscape:

The competitive landscape in the global Glucose Monitoring Devices market is characterized by rapid technological advancements and significant activities and initiatives. Leading companies such as Dexcom, Abbott Laboratories, Medtronic, and Roche are at the forefront of innovation, continually enhancing product offerings and focusing on ease of use, convenience, accuracy, and user experience. Trends in the market include companies integrating new features into devices and this is creating a dynamic environment where constant improvement is essential for maintaining an edge.

Companies are also strengthening their positions and expanding their consumer base by investing significantly in R&D to produce next-generation devices like advanced continuous glucose monitoring systems that integrate seamlessly with digital health platforms. Expansion into emerging markets, particularly in Asia Pacific and Latin America, is another key strategy, as these regions have been registering steady rise in diabetes prevalence and need for access for healthcare and devices. Strategic partnerships and collaborations have become prevalent, with companies focusing on enhancing insulin management solutions.

In addition, companies are engaging in mergers and acquisitions to strengthen their technological capabilities and expand market reach. Devising and deploying strategies to address consumer affordability and accessibility, and re-evaluating pricing strategies and exploring direct-to-consumer sales models are also major focal points in the market.

Recent Developments

• September 17, 2024: Senseonics Holdings, Inc., which is a medical technology company focused on development and manufacturing of long-term, implantable CGM systems for diabetes and Ascensia Diabetes Care, announced securing clearance from the U.S. Food and Drug Administration (FDA) for it’s next-generation Eversense 365 CGM system for persons with Type 1 and Type 2 diabetes aged 18 years and older. This new system is the first in the world One Year CGM or 365-day system, which represents a significant breakthrough in diabetes technology and management.
• August 7, 2024: Abbott announced entering into a unique global partnership with Medtronic to collaborate on an integrated continuous glucose monitoring system based on Abbott’s most advanced, world-leading FreeStyle Libre technology that will connect with Medtronic's Automated Insulin Delivery (AID) and smart insulin pen systems. Integration of Abbott’s CGM sensor with Medtronic’s AID algorithms will enable automatic adjustments of insulin to keep glucose in range. The CGM sensor, designed to work exclusively with Medtronic devices, will be developed by Abbott and sold by Medtronic. AID systems can benefit individuals with both Type 1 and Type 2 diabetes and those who need multiple daily injections of rapid-acting insulin.
• August 7, 2024: Medtronic plc, which is a global leader in healthcare technology, announced it has secured approval from the U.S. Food and Drug Administration (FDA) for its Simplera continuous glucose monitor (CGM). This solution is half the size of CGMs developed and offered by the company, and is also Medtronic’s first disposable, all-in-one CGM, with discreet design that simplifies insertion and wear experience, and eliminates need for overtape. Also, Medtronic’s Simplera platform features its newest CGM form factor designed to be used as part of a Smart MDI system with the InPen smart insulin pen and the Simplera Sync sensor, which is designed to be integrated with the MiniMed 780G system.
• February 6, 2024: DexCom, Inc. is a global leader in real-time continuous glucose monitoring solutions for persons with diabetes, and the company announced launch of its latest CGM system, Dexcom ONE+. This system is now available in Poland, Belgium, and Spain, and will shortly also be available in the Netherlands. The Dexcom ONE+ offers multiple possibilities for personalization and customization, and caters to specific settings, alert options, delay settings, as well as is waterproof and can be used while showering and exercising.

Frequently Asked Questions:

Q: What is the global Glucose Monitoring Devices market size in 2024 and what is the projection for 2034?

A: The global Glucose Monitoring Devices market size was calculated at USD 15.67 billion 2024 and expected to reach USD 44.88 billion in 2034

Which regional market accounted for largest revenue share in 2023, and what is the expected trend over the forecast period?

A: North America accounted for largest revenue share in 2023, and is also expected to continue to maintain dominance over the forecast period.

Q: Which are the major companies are included in the global Glucose Monitoring Devices market report?

A: Major companies in the market report are Abbott Laboratories, Dexcom Inc., Medtronic PLC, Roche Holding AG, LifeScan Inc., Senseonics Holdings, Inc., Ascensia Diabetes Care, Arkray Inc., Sinocare Inc., Menarini Diagnostics S.r.l, Ypsomed AG, Nemaura Medical Inc., i-Sens Inc., Medtrum Technologies, Omron Healthcare Inc.

Q: What is the projected revenue CAGR of the global Glucose Monitoring Devices market over the forecast period?

A: The global Glucose Monitoring Devices market is expected to register a CAGR of 11.1% between 2025 and 2034.

Q: What are some key factors driving revenue growth of the Glucose Monitoring Devices market?

A: Some key factors driving market revenue growth are rising global prevalence of diabetes, rise in obesity rates, increasing rates of Polycystic Ovary Syndrome (PCOS), sedentary lifestyles, rapidly aging population, increasing health awareness among individuals, and growing preventive healthcare trend.