Blood Glucose Meter Market Scope
A Blood Glucose Meter is a device to measure the glucose content in the body of an individual. Though, it can be a glucose meter that measure glucose level once dipped into a substance. In this invasive method, very small drop of blood of individual drop is obtained using a lancet. Owing to rising cases of diabetes, the need for early detection and prevention have become important which led to rise in demand for blood glucose meter.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | North America |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | Omron (Japan), Andon Health Company Limited (China), Panasonic (Japan), Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. (China), Johnson & Johnson (United States), Haier (China), FOLEE (China), Philips (Netherlands), Guangzhou Kang Mai Medical Equipment Co., Ltd. (China) and SANNUO (China) |
CAGR | 5.24% |
"According to AMA, the Global Blood Glucose Meter market is expected to see growth rate of 5.24% and may see market size of USD19.54 Billion by 2030."The demand for Blood Glucose meters is increasing due to the growing diabetes population with each passing day. The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market soon. Players are expected to concentrate on the creation of novel compounds, which would likely boost the worldwide market's growth throughout the forecast period. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Blood Glucose Meter market throughout the predicted period.
Omron (Japan), Andon Health Company Limited (China), Panasonic (Japan), Jiangsu Yuyue Medical Equipment & Supply Co., Ltd. (China), Johnson & Johnson (United States), Haier (China), FOLEE (China), Philips (Netherlands), Guangzhou Kang Mai Medical Equipment Co., Ltd. (China) and SANNUO (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Roche (Switzerland), Abbott (United States), LifeScan (United States), Ascensia (Switzerland), Medtronic (Ireland), Dexcom (United States), Ypsomed (Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (United States), ACON Laboratories (United States) and Nova Biomedical (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Blood Glucose Meter market by Type , by Application (Hospital and Family) and Region with country level break-up.
On the basis of geography, the market of Blood Glucose Meter has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In August 2021- Smart Meter, the leader in cellular-connected remote patient monitoring (RPM) devices, data, and services, announced the availability of its iGlucose monitor for managing gestational diabetes. iGlucose provides those with gestational diabetes an easy and reliable way to test, monitor, and manage their blood glucose levels, ensuring that all care providers have immediate access to testing results.
In October 2018, United States company Abbott obtained necessary documentation requirement for its Freestyle Libre 2 device. The device is expected to be launched in 2019 after FDA approval. Using Bluetooth technology, the device provides customizable alarms for high glucose as well as for low glucose.
WHO aims to stimulate and support the adoption of effective measures for the surveillance, prevention, and control of diabetes and its complications, particularly in low and middle-income countries. It provides guidelines for the prevention of major noncommunicable diseases including diabetes. It also develops norms and standards for diabetes diagnosis and care.
Influencing Trend:
Emergence of Digital Blood Glucose Meter
Market Growth Drivers:
Increasing Prevalence of Diabetes Diseases and Technical Advancement in Blood Glucose Meter Devices
Challenges:
Glucose meters can only analyze whole blood, and glucose is unstable in whole blood.
Restraints:
High Cost Involved in Blood Glucose Meter System
Opportunities:
Heavy Investment in Ongoing Research Activities and Launch of New Products and Rising Cases of Diabetes Owing to Changing Lifestyle
Key Target Audience
Blood Glucose Monitoring Systems Manufacturers, Suppliers and Distributors of Blood Glucose Monitoring Systems, Hospitals, Diagnostic Centers, home-care service providers, and medical colleges, Teaching Hospitals and Academic Medical Centers, Government Bodies/Municipal Corporations, Business Research and Consulting Service Providers, Venture Capitalists, Market and Research Firms and Others