The self-monitoring blood glucose (smbg) devices market size is expected to see strong growth in the next few years. It will grow to $22.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to rising home healthcare, telehealth expansion, rise in disposable income, rising demand for remote monitoring, rise in e-commerce. Major trends in the forecast period include continuous glucose monitoring (cgm) integration, artificial intelligence (ai) and machine learning, wearable smbg devices, non-invasive monitoring, mobile apps and connectivity.
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Segmentation & Regional Insights
The self-monitoring blood glucose (smbg) devices market covered in this report is segmented –
1) By Product: Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics & Centers
3) By Application: Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes
North Americawas the largest region in the self-monitoring blood glucose (SMBG) devices market in 2023. Europeis expected to be the fastest-growing region in the forecast period. The regions covered in the self-monitoring blood glucose (smbg) devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising prevalence of diabetes is expected to propel the growth of the self-monitoring blood glucose device market going forward. Self-monitoring of blood glucose is a method in which person with diabetes use a glycemic reading gadget to measure their blood sugar (glucose meter) where they can change or monitor the effectiveness of their treatment (diet, exercise, insulin, antidiabetics) or see their physician based on the results of the test. For instance, according to the report published by the International Diabetes Federation in December 2021, diabetes affected 537 million adults (20–79 years old) in 2021, and it is predicted that the number is going to climb to 643 million people by 2030 and a total of 783 million by 2045. Therefore, the rising prevalence of diabetes is driving the growth of the self-monitoring blood glucose devices market.
Key Industry Players
Major companies operating in the self-monitoring blood glucose (smbg) devices market include Abbott Laboratories, Bionime Corporation, B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd, LifeScan Inc, PHC Holdings Corporation, Home Diagnostics Inc, Terumo Pharmaceutical Solutions, ARKRAY Inc, Ypsomed Holding AG, Dexcom Inc, Medtronic plc, Novo Nordisk A/S, Glysens Incorporated, Senseonics Holdings Inc., AgaMatrix Inc., All Medicus Co. Ltd., Ascensia Diabetes Care Holdings AG, Bayer AG, Becton Dickinson and Company, Bio-Rad Laboratories Inc., Bioptik Technology Inc., Cnoga Medical Ltd., ForaCare Inc., Glucovation Inc., Hainice Medical Inc., Infopia Co. Ltd., Insulet Corporation, Integrity Applications, Johnson & Johnson, Menarini Diagnostics, Nemaura Medical Inc., Nipro Corporation, Nova Biomedical Corporation, Omron Healthcare Inc., Optiscan Biomedical Corporation, OrSense Ltd., Pinnacle Technology Inc., Prodigy Diabetes Care LLC, PTS Diagnostics, TaiDoc Technology Corporation, Trividia Health Inc., WaveForm Technologies Inc.
The self-monitoring blood glucose (smbg) devices market report table of contents includes:
1. Executive Summary
2. Self-Monitoring Blood Glucose (SMBG) Devices Market Characteristics
3. Self-Monitoring Blood Glucose (SMBG) Devices Market Trends And Strategies
4. Self-Monitoring Blood Glucose (SMBG) Devices Market – Macro Economic Scenario
5. Global Self-Monitoring Blood Glucose (SMBG) Devices Market Size and Growth
…………………..
31. Global Self-Monitoring Blood Glucose (SMBG) Devices Market Competitive Benchmarking
32. Global Self-Monitoring Blood Glucose (SMBG) Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Self-Monitoring Blood Glucose (SMBG) Devices Market
34. Self-Monitoring Blood Glucose (SMBG) Devices Market Future Outlook and Potential Analysis
35. Appendix
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