Self-monitoring Blood Glucose Devices Market Report: Comprehensive Analysis and Forecast 2023-2032

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Self-monitoring Blood Glucose Devices Market
Research Report Analysis and Forecasts to 2032
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• Industry Insights

• Self-monitoring Blood Glucose Monitoring Devices
  Market is anticipated to garner substantial
  momentum during 2023-2032 owing to the constant
  technological innovations in self-monitoring
  blood glucose devices.
• Advancements in technology offer easier, more
  portable, and more convenient testing devices
  that are anticipated to increase its popularity
  among insulin-dependent diabetes patients.
• Self-monitoring technologies for blood glucose
  monitoring have become mainstream as they have
  proven to be pragmatic and convenient for
  diabetic population. According to credible
  reports, by 2045, more than 700 million people
  across the world will have diabetes.
• Based on the product, the self-monitoring blood
  glucose meters segment is estimated to grow at
  over 14.5 CAGR through 2032. The growth will be
  majorly due to the convenience offered by these
  meters in home settings. Besides, the ongoing
  launch of new products by the major giants will
  also positively influence segment expansion.

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• Considering the application, the type 1 diabetes
  segment is anticipated to be valued at over 2.4
  billion by 2032. The rising need for continuous
  monitoring of blood glucose levels among patients
  with type 1 diabetes to manage the dosing, will
  generate significant market revenue.
• As per reports, there were more than 8.4 million
  individuals living with type 1 diabetes in 2021.
• By distribution channel, the hospital pharmacies
  segment is slated to register strong growth
  during the estimated timeframe.
• The increasing prevalence of diabetes and high
  susceptibility in the elderly population, coupled
  with a rise in hospital visits to manage the
  disease, will drive segment adoption in the
  ensuing years.
• Besides, the availability of innovative and
  advanced self-monitoring blood glucose devices at
  hospital pharmacies will stimulate the segment
  growth potential.

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• Regional Analysis

• Regionally, the Asia Pacific self-monitoring
  blood glucose monitoring devices market is
  anticipated to be valued at over USD 13 billion
  by 2032. Growing geriatric population base and
  constantly surging cases of diabetes in the
  region will offer lucrative growth opportunities
  to the SMBG device market. The presence of some
  leading industry players, who are constantly
  working on launching new products, will support
  regional expansion. In addition, increasing
  healthcare expenditure and government initiatives
  to reduce the burden of the disease will further
  drive the SMBG device demand.

• Competitive Analysis

• Abbott Laboratories, AgaMatrix, Arkray, Inc., All
  Medicus Co., Ltd., Ascensia Diabetes Care
  Holdings AG., B. Braun Melsungen AG, Dexcom,
  Inc., Johnson Johnson (Lifescan, Inc.), F.
  Hoffmann-La Roche Ltd., Medtronic Plc, Nova
  Biomedical, Inc., Sinocare Inc., Essenlife
  Bioscience, Inc., DarioHealth Corp., Bionime
  Corporation

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