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Self-Monitoring Blood Glucose Devices Market Size By Product (Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets), By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics & Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI2743
  • Published Date: Nov 2021
  • Report Format: PDF

Industry Trends

Self-Monitoring Blood Glucose (SMBG) Devices Market size surpassed USD 19 billion in 2020 and is expected to grow at a CAGR of over 10% between 2021 and 2027. The market growth is attributed to the growing prevalence of diabetes. Moreover, factors such as lifestyle changes, dietary habits, increased smoking and alcohol consumption are likely to upsurge the prevalence rate of diabetes.
 

Self-Monitoring Blood Glucose Devices Market Overview

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Growing awareness regarding home monitoring and focus on regular diabetes management to reduce risk of hyperglycemic conditions has led to growing demand for self-monitoring blood glucose devices. Additionally, government is undertaking several initiatives to increase awareness among people regarding early diagnosis. The National Diabetes Education Program (NDEP) is the joint effort of the National Institutes of Health and Centers for Disease Control and Prevention (CDC). NDEP aims at reducing burden of prediabetes by providing diabetes-related education to a range of people such as hard-to-reach population, ethnic minorities, faith-based organizations, community-based organizations, and healthcare providers.
 

The global pandemic has affected millions of people worldwide, resulting into high mortality. The pandemic has positively impacted the self-monitoring blood glucose devices market due to high requirement of home care. Furthermore, incidence of COVID-19 has resulted in population shift towards home care. During pandemic, diabetic population were frequently managing blood glucose level to reduce complications and hospitalizations and owing to associated susceptibility to COVID-19.
 

Increasing awareness regarding use of continuous glucose monitors will offer several growth opportunities

Continuous glucose monitors segment is predicted to showcase 15.3% growth rate through 2027. CGMs are witnessing robust advances along with several novel launches by prominent firms. In addition, demand for continuous glucose monitoring devices increased during the COVID-19 pandemic. Moreover, rising demand for user-friendly homecare devices coupled with accessibility of various advanced continuous glucose monitoring devices in the market will impel the segment growth.
 

High risk of type 2 diabetes with adoption of unhealthy lifestyle will led to increase demand for SMBG devices

Type 2 diabetes segment is poised to expand at more than 10.1% CAGR till 2027. Growing obese population, physical inactiveness and consumption of unhealthy diet leads to increased risk of type 2 diabetes. Further, SMBG devices help type 2 diabetes patients to keep timely track of glycerine level in the body.
 

Significant increase in government funding to increase healthcare infrastructure will fuel distribution of SMBG devices

Self-Monitoring Blood Glucose Devices Market Size

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Hospital pharmacies held 30% of the market share in 2020. Growing government funding in developing and developed regions in order to establish advanced healthcare facilities will contribute to the segment expansion. Furthermore, rising geriatric population that is more susceptible to suffer from diabetes increases hospitalizations and patient visits that is further slated to boost the segment progression during the forecast period.
 

Rising demand for self-monitoring blood glucose (SMBG) devices will continue to strengthen the growth for North America region

North America self-monitoring blood glucose devices market captured 37% of revenue share in 2020 led by the high prevalence of diabetes and rising healthcare expenditure. According to the CDC, in 2020, 34.2 million Americans were suffering from diabetes, and one per 3 Americans had prediabetes. Obesity, unhealthy dietary habits and other environmental factors further increases the patient base. Additionally, numerous efforts undertaken by government and international organizations to reduce disease burden will drive the industry growth during the forecast timeframe.
 

Product launch and acquisition are assisting the organizations in business expansion

The global market consists of several players including Dexcom, F. Hoffmann-La Roche Ltd., Abbott, Medtronic Plc, and Ascensia Diabetes Care. These companies are adopting several expansion and growth strategies such as partnerships, acquisitions and product launches to increase their market presence.
 

The market research report of self-monitoring blood glucose devices includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Product

  • Self-monitoring Blood Glucose Meters
  • Continuous Glucose Monitors
  • Testing Strips
  • Lancets

Market, By Application

  • Type 1 Diabetes
  • Type 2 Diabetes
  • Gestational Diabetes

Market, By Distribution channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Sales
  • Diabetes Clinics & Centers

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Kuwait
    • UAE

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Market size of self-monitoring blood glucose devices surpassed USD 19 billion in 2020 and will witness a CAGR of over 10% through 2027 with the rising prevalence of diabetes.

Continuous glucose monitors segment will exhibit a CAGR of over 15.3% through 2027 driven by increasing demand for user-friendly homecare devices.

Type 2 diabetes segment will record a CAGR of over 10.1% through 2027 with the rising obese population, physical inactiveness and consumption of unhealthy diet leading to type 2 diabetes.

North America market had held 37% revenue share in 2020 owing to high prevalence of diabetes and rising healthcare expenditure in the region.

The major companies operating in the market are Dexcom, F. Hoffmann-La Roche Ltd., Abbott, Medtronic Plc, and Ascensia Diabetes Care.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 15
  • Tables & Figures: 210
  • Countries covered: 20
  • Pages: 152

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