Glucometer Market Size

Glucometer Market Size

Glucometer Market size was valued at around USD 16.3 billion in 2023 and is estimated to grow at 12.8% CAGR from 2024 to 2032. A glucometer, also known as a blood glucose meter or blood sugar meter, is a portable electronic device designed for measuring and monitoring blood glucose levels in individuals, particularly those with diabetes. The significant increase in the prevalence of diabetes in both developed and developing economies is a crucial factor stimulating the market expansion.

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For instance, according to the International Diabetes Federation (IDF), in 2021, 537 million adults (aged 20-79) were living with diabetes, representing 1 in 10 individuals. Furthermore, projections indicate that this number is expected to rise to 643 million by 2030 and further to 783 million by 2045. Notably, over three-quarters of adults with diabetes reside in low- and middle-income countries.
 

Moreover, in 2021, diabetes resulted in 6.7 million deaths, equivalent to one every 5 seconds. Thus, the sustained increase in diabetes cases and its expanding prevalence over recent decades underscore the urgent global health need, reinforcing the growing market demand for glucometers.
 

Furthermore, the accelerated progress in technology aimed at improving reliability and efficiency will contribute to the increase in adoption of glucometers. Technological advancements are leading to the development of more accessible, portable, and convenient testing devices, making them more appealing to individuals with insulin-dependent diabetes. The growing availability of compact and user-friendly devices, such as continuous glucose monitoring devices which is estimated to reach USD 20.2 billon by 2032,  and glucose meters, is expected to have a positive impact on revenue growth in the market.