Glucose Monitoring System Market Analysis | 2022-2028

“The Glucose Monitoring System Market was estimated at US$ 2.02 billion in 2021 and is expected to grow at a CAGR of 6.19% during 2022-2028 to reach US$ 3.06 billion by 2028.”

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Market Dynamics

Introduction

A Glucose Monitoring System is a medical gadget that helps in managing the amount of glucose in the blood. It usually comprises of a tiny, hand-held, blood glucose testing device, and a series of single-use, easy-touch testing strips. Individuals decide to use a lancet to get a small amount of blood and drip it onto the strip. The meter then devotes the blood sample and offers the numerate value of glucose, most often in milligrams per deciliter (mg/dL) or millimoles per liter (mmol/L).

Some of the most widely used applications include monitoring glucose levels enabling diabetic patients to keep track of their blood sugar levels. The best outcome is that by using this application participants can frequently monitor their consumption of medication and food items as well as physical activities, which enables them to achieve and maintain proper glycemic levels and control the consequences of having diabetes.

Market Drivers

The growth of the glucose monitoring system market is driven by the following factors-

• An increasing number of people suffering from diabetes driving the growth of the glucose monitoring system market

• The rising prevalence of chronic disease due to changing lifestyles and unhealthy eating habits is expected to propel market growth significantly.

• Growing emphasis on research and development activities to develop advanced glucose monitoring systems creating lucrative opportunities for market players.

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COVID-19 Impact

The outbreak of the COVID-19 virus has affected the growth of the healthcare industry significantly. Stringent lockdown measures and restricted movement of people affected the product supply for a short period and thus affected the market growth.

Segments Analysis

End-User Trends

“The hospitals segment accounted for the largest market share.”

The glucose monitoring system market has been bifurcated into hospitals, clinics, and home healthcare. Under these, the hospitals segment accounted for the largest market share and is projected to register significant growth during the forecast period. The segment growth can be attributed to the presence of established healthcare infrastructure, technical expertise, and professional healthcare staff.

Regional Analysis

“North America accounted for the largest market share.”

North America accounted for the largest market share and is projected to grow at a significant CAGR during the forecast period. The regional growth is primarily attributed to an expanding geriatric populace and rising incidences of diabetes coupled with the presence of key market players such as Echo Therapeutics Inc. (US) and Insulet Corporation (US).

The market growth in the Asia-Pacific region is expected to be driven by the increasing number of people having diabetes due to a sedentary lifestyle in developing countries, particularly China and India.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.  

The following are the key players in the glucose monitoring system market (arranged alphabetically).

• Abbott Laboratories (US)
• AgaMatrix Inc. (Germany)
• DexCom, Inc. (US)
• Echo Therapeutics Inc. (US)
• F. Hoffmann-La Roche AG (Switzerland)
• Glysure Ltd (UK)
• Insulet Corporation (US)
• Johnson & Johnson (US)
• Medtronic plc (Ireland)
• ORSENSE LTD (Israel)
• Senseonics Holdings, Inc. (US)
• Ypsomed (Switzerland)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

Here is the list of customers that the glucose monitoring system market hopes to have the greatest opportunity to convert-

• Glucose Monitoring System Distributors
• Suppliers
• Manufacturers
• Logistics Organizations
• Government Bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. 

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.