0

Blood Glucose Monitoring Devices Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR44338
Technavio

Enjoy complimentary customisation on priority with our Enterprise License!

Safe and Secure SSL Encrypted

info
close
  • Single:

    One user only.
    Quick & easy download option

  • Enterprise:

    Unlimited user access (Within your organization)
    Complimentary Customization Included

2500 USD

The blood glucose monitoring devices market share is expected to increase by USD 5.84 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8.16%.

This blood glucose monitoring devices market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blood glucose monitoring devices market segmentation by product (SMBG, CGM, and lancets) and geography (North America, Europe, Asia, and ROW). The blood glucose monitoring devices market report also offers information on several market vendors, including Abbott Laboratories, Agamatrix Inc., ARKRAY Inc., Ascensia Diabetes Care Holdings AG, Dexcom Inc., F. Hoffmann La Roche Ltd., Johnson and Johnson Inc., Medtronic Plc, Terumo Europe NV, and Trivida Health Inc. among others.

What will the Blood Glucose Monitoring Devices Market Size be During the Forecast Period?

Blood Glucose Monitoring Devices Market Size

Download Report Sample to Unlock the Blood Glucose Monitoring Devices Market Size for the Forecast Period and Other Important Statistics

 

Blood Glucose Monitoring Devices Market: Key Drivers, Trends, and Challenges

Technological advances in BGM devices are notably driving the blood glucose monitoring devices market growth, although factors such as the high cost of BGM devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blood glucose monitoring devices industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Blood Glucose Monitoring Devices Market Driver

Technological advances in BGM devices are one of the major drivers of the blood glucose monitoring devices market growth. An increase in technological advances in BGM devices is being witnessed in the market. Vendors are investing in R&D for designing and developing innovative BGM devices that are portable, patient-friendly, pain-free, and accurate. Moreover, the availability of non-invasive devices that use ultrasound is attracting customers as this does not require pricking skin several times a day. For instance, Roche Diagnostics has designed a product called Accu-Chek mobile, which, unlike conventional glucose meters, uses test strips in the form of a ribbon rolled like the recording tape in a cassette. About 50 tests can be conducted on a continuous tape, eliminating the need to handle individual test strips. Moreover, CGM devices are increasing the potential of this market as they allow recording the blood sugar level of a patient throughout the day. CGM devices are also programmed to alert users in case of high or low glucose levels, enabling timely intervention and reducing the risk of complications associated with drastic changes in glycemic levels.

Key Blood Glucose Monitoring Devices Market Trend

Smart watch-based apps are one of the major trends in the blood glucose monitoring devices market growth. The Dexcom CGM and its mobile apps Follow and Share 2 are the first mobile-connected systems approved by the US FDA. This device allows users to view the glucose data directly on their iPhones. Currently, Dexcom provides its devices G4 platinum CGM with Share that supports the Apple Watch. Along with this, the users can invite up to five people to view their glucose information, and an alert message can be sent when the user's glucose levels are above the normal range. This is a significant breakthrough in diabetes management. The use of glucose meters is supplemented by CGM devices in diabetes management. Meters still play a major role in calibrating CGM devices and in guiding therapy and meal decisions. In addition to providing the glucose levels, CGM devices provide the direction and rate of change in glucose levels with the push of a button and alert users when the glucose level is too low or too high.

Key Blood Glucose Monitoring Devices Market Challenge

The high cost of BGM devices is one of the major challenges for the blood glucose monitoring devices market growth. The high cost of BGM devices is a major challenge hindering the growth of the global BGM devices market. Most invasive BGM devices are both painful as they use a lancet to prick the fingertip to extract blood required for testing. They are also expensive due to the consumable test strips that are needed to test the blood. So, many diabetic patients are reluctant to adopt BGM devices and do not monitor their blood glucose levels as often as they should. Moreover, the calibration of the BGM systems is also very expensive. So, despite the numerous benefits, the high cost of BGM devices hinders their acceptance among patients. The average price of lancing devices ranges from $30 to $35 in most countries.

This blood glucose monitoring devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global blood glucose monitoring (BGM) devices market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blood glucose monitoring devices market during the forecast period.

Who are the Major Blood Glucose Monitoring Devices Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Agamatrix Inc.
  • ARKRAY Inc.
  • Ascensia Diabetes Care Holdings AG
  • Dexcom Inc.
  • F. Hoffmann La Roche Ltd.
  • Johnson and Johnson Inc.
  • Medtronic Plc
  • Terumo Europe NV
  • Trivida Health Inc.

 

This statistical study of the blood glucose monitoring devices market encompasses successful business strategies deployed by the key vendors. The blood glucose monitoring devices market is fragmented and the vendors are deploying growth strategies such as investing huge amounts in R&D for designing, developing and manufacturing novel products to compete in the market.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The blood glucose monitoring devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Blood Glucose Monitoring Devices Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the blood glucose monitoring devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the healthcare equipment market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for the Blood Glucose Monitoring Devices Market?

Blood Glucose Monitoring Devices Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

43% of the blood glucose monitoring devices market growth will originate from North America during the forecast period. The US and Canada are the key markets for the blood glucose monitoring devices market in North America. 

Factors such as the increase in technological advances and a high incidence of type 1 and type 2 diabetes will facilitate the blood glucose monitoring devices market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 adversely affected all the countries in North America, especially the US. However, it had only a slightly negative impact on the BGM devices market in North America. As of June 17, 2020, more than 34.36 million cases of COVID-19 were reported in the US. A rise in the number of COVID-19 cases in the first quarter of 2020 and early 2021 led to partial lockdowns in several countries, including Canada and Mexico. Thus, various non-urgent treatments and clinical visits were either limited or were completely halted as per the government guidelines. Some scheduled treatments were either delayed or postponed. Hence, the sales of BGM devices declined slightly through offline medical stores; however, the pandemic also led to an increase in the use of e-commerce channels, which, in turn, led to a rise in the demand for BGM devices through online channels. Thus, the BGM devices market in North America witnessed a mixed impact in 2020 and Q1 of 2021 to some extent. However, by the second half of 2020, the lockdown-related restrictions were somewhat relaxed in various countries, which included the resumption of businesses and non-essential services. Thus, the resumption of healthcare equipment manufacturing will cater to the demand for BGM devices in North America through both online and offline channels, and the market in focus will register an accelerating growth momentum during the forecast period.

What are the Revenue-generating Product Segments in the Blood Glucose Monitoring Devices Market?

Blood Glucose Monitoring Devices Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The blood glucose monitoring devices market share growth by the SMBG segment will be significant during the forecast period. The global SMBG segment will grow rapidly due to the rise in the prevalence of diabetes worldwide. This report provides an accurate prediction of the contribution of all the segments to the growth of the blood glucose monitoring devices market size.

This report provides an accurate prediction of the contribution of all the segments to the growth of the blood glucose monitoring devices market size and actionable market insights on post-COVID-19 impact on each segment.

 

Blood Glucose Monitoring Devices Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.16%

Market growth 2021-2025

$ 5.84 billion

Market structure

Fragmented

YoY growth (%)

7.50

Regional analysis

North America, Europe, Asia, and ROW

Performing market contribution

North America at 43%

Key consumer countries

US, Germany, UK, Canada, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abbott Laboratories, Agamatrix Inc., ARKRAY Inc., Ascensia Diabetes Care Holdings AG, Dexcom Inc., F. Hoffmann La Roche Ltd., Johnson and Johnson Inc., Medtronic Plc, Terumo Europe NV, and Trivida Health Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request PDF sample

What are the Key Data Covered in this Blood Glucose Monitoring Devices Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive blood glucose monitoring devices market growth during the next five years
  • Precise estimation of the blood glucose monitoring devices market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the blood glucose monitoring devices industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of blood glucose monitoring devices market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis – Healthcare equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
    • 3.5 Hospitals and diagnostic laboratories
      • 3.6 POL
        • 3.7 Home care settings
          • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

        4 Five Forces Analysis

        • 4.1 Five forces summary
          • Exhibit 08: Five forces analysis 2020 & 2025
        • 4.2 Bargaining power of buyers
          • Exhibit 09: Bargaining power of buyers
        • 4.3 Bargaining power of suppliers
          • Exhibit 10: Bargaining power of suppliers
        • 4.4 Threat of new entrants
          • Exhibit 11: Threat of new entrants
        • 4.5 Threat of substitutes
          • Exhibit 12: Threat of substitutes
        • 4.6 Threat of rivalry
          • Exhibit 13: Threat of rivalry
        • 4.7 Market condition
          • Exhibit 14: Market condition - Five forces 2020

        5 Market Segmentation by Product

        • 5.1 Market segments
          • Exhibit 15: Product - Market share 2020-2025 (%)
        • 5.2 Comparison by Product
          • Exhibit 16: Comparison by Product
        • 5.3 SMBG - Market size and forecast 2020-2025
          • Exhibit 17: SMBG - Market size and forecast 2020-2025 ($ million)
          • Exhibit 18: SMBG - Year-over-year growth 2020-2025 (%)
        • 5.4 CGM - Market size and forecast 2020-2025
          • Exhibit 19: CGM - Market size and forecast 2020-2025 ($ million)
          • Exhibit 20: CGM - Year-over-year growth 2020-2025 (%)
        • 5.5 Lancets - Market size and forecast 2020-2025
          • Exhibit 21: Lancets - Market size and forecast 2020-2025 ($ million)
          • Exhibit 22: Lancets - Year-over-year growth 2020-2025 (%)
        • 5.6 Market opportunity by Product
          • Exhibit 23: Market opportunity by Product

        6 Customer landscape

        • 6.1 Customer landscape
          • Exhibit 24: Customer landscape

        7 Geographic Landscape

        • 7.1 Geographic segmentation
          • Exhibit 25: Market share by geography 2020-2025 (%)
        • 7.2 Geographic comparison
          • Exhibit 26: Geographic comparison
        • 7.3 North America - Market size and forecast 2020-2025
          • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
          • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
        • 7.4 Europe - Market size and forecast 2020-2025
          • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
          • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
        • 7.5 Asia - Market size and forecast 2020-2025
          • Exhibit 31: Asia - Market size and forecast 2020-2025 ($ million)
          • Exhibit 32: Asia - Year-over-year growth 2020-2025 (%)
        • 7.6 ROW - Market size and forecast 2020-2025
          • Exhibit 33: ROW - Market size and forecast 2020-2025 ($ million)
          • Exhibit 34: ROW - Year-over-year growth 2020-2025 (%)
        • 7.7 Key leading countries
          • Exhibit 35: Key leading countries
        • 7.8 Market opportunity by geography
          • Exhibit 36: Market opportunity by geography ($ million)

        8 Drivers, Challenges, and Trends

        • 8.1 Market drivers
          • 8.2 Market challenges
            • Exhibit 37: Impact of drivers and challenges
          • 8.3 Market trends

            9 Vendor Landscape

            • 9.1 Vendor landscape
              • Exhibit 38: Vendor landscape
            • 9.2 Landscape disruption
              • Exhibit 39: Landscape disruption
              • Exhibit 40: Industry risks
            • 9.3 Competitive Scenario

              10 Vendor Analysis

              • 10.1 Vendors covered
                • Exhibit 41: Vendors covered
              • 10.2 Market positioning of vendors
                • Exhibit 42: Market positioning of vendors
              • 10.3 Abbott Laboratories
                • Exhibit 43: Abbott Laboratories - Overview
                • Exhibit 44: Abbott Laboratories - Business segments
                • Exhibit 45: Abbott Laboratories – Key news
                • Exhibit 46: Abbott Laboratories - Key offerings
                • Exhibit 47: Abbott Laboratories - Segment focus
              • 10.4 Agamatrix Inc.
                • Exhibit 48: Agamatrix Inc. - Overview
                • Exhibit 49: Agamatrix Inc. - Product and service
                • Exhibit 50: Agamatrix Inc. - Key offerings
              • 10.5 ARKRAY Inc.
                • Exhibit 51: ARKRAY Inc. - Overview
                • Exhibit 52: ARKRAY Inc. - Product and service
                • Exhibit 53: ARKRAY Inc. - Key offerings
              • 10.6 Ascensia Diabetes Care Holdings AG
                • Exhibit 54: Ascensia Diabetes Care Holdings AG - Overview
                • Exhibit 55: Ascensia Diabetes Care Holdings AG - Product and service
                • Exhibit 56: Ascensia Diabetes Care Holdings AG – Key news
                • Exhibit 57: Ascensia Diabetes Care Holdings AG - Key offerings
              • 10.7 Dexcom Inc.
                • Exhibit 58: Dexcom Inc. - Overview
                • Exhibit 59: Dexcom Inc. - Business segments
                • Exhibit 60: Dexcom Inc. – Key news
                • Exhibit 61: Dexcom Inc. - Key offerings
                • Exhibit 62: Dexcom Inc. - Segment focus
              • 10.8 F. Hoffmann La Roche Ltd.
                • Exhibit 63: F. Hoffmann La Roche Ltd. - Overview
                • Exhibit 64: F. Hoffmann La Roche Ltd. - Business segments
                • Exhibit 65: F. Hoffmann La Roche Ltd. - Key offerings
                • Exhibit 66: F. Hoffmann La Roche Ltd. - Segment focus
              • 10.9 Johnson and Johnson Inc.
                • Exhibit 67: Johnson and Johnson Inc. - Overview
                • Exhibit 68: Johnson and Johnson Inc. - Business segments
                • Exhibit 69: Johnson and Johnson Inc. - Key offerings
                • Exhibit 70: Johnson and Johnson Inc. - Segment focus
              • 10.10 Medtronic Plc
                • Exhibit 71: Medtronic Plc - Overview
                • Exhibit 72: Medtronic Plc - Business segments
                • Exhibit 73: Medtronic Plc - Key offerings
                • Exhibit 74: Medtronic Plc - Segment focus
              • 10.11 Terumo Europe NV
                • Exhibit 75: Terumo Europe NV - Overview
                • Exhibit 76: Terumo Europe NV - Product and service
                • Exhibit 77: Terumo Europe NV - Key offerings
              • 10.12 Trivida Health Inc.
                • Exhibit 78: Trivida Health Inc. - Overview
                • Exhibit 79: Trivida Health Inc. - Product and service
                • Exhibit 80: Trivida Health Inc. - Key offerings

              11 Appendix

              • 11.1 Scope of the report
                • 11.2 Currency conversion rates for US$
                  • Exhibit 81: Currency conversion rates for US$
                • 11.3 Research methodology
                  • Exhibit 82: Research Methodology
                  • Exhibit 83: Validation techniques employed for market sizing
                  • Exhibit 84: Information sources
                • 11.4 List of abbreviations
                  • Exhibit 85: List of abbreviations

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
                Interested in this report?
                Get your sample now!
                Blood Glucose Monitoring Devices Market market growth will increase by $5.84 bn during 2021-2025.
                The blood glucose monitoring devices market market is expected to grow at a CAGR of 8.16% during 2021-2025.
                Technavio has segmented the blood glucose monitoring devices market market by product (SMBG, CGM, and lancets) ,geography (North America, Europe, Asia, and ROW) , and geographic (North America, Europe, Asia, and ROW).
                Abbott Laboratories, Agamatrix Inc., ARKRAY Inc., Ascensia Diabetes Care Holdings AG, Dexcom Inc., F. Hoffmann La Roche Ltd., Johnson and Johnson Inc., Medtronic Plc, Terumo Europe NV, Trivida Health Inc. are a few of the key vendors in the blood glucose monitoring devices market market.
                North America will register the highest growth rate of 43% among the other regions. Therefore, the blood glucose monitoring devices market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the blood glucose monitoring devices market market growth are:
                • Rising global burden of diabetes
                • Smart watch-based apps
                The blood glucose monitoring devices market market vendors should focus on grabbing business opportunities from the smbg segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
                • What are the revenue-generating key market segments?
                • What are the key factors driving and challenging this market’s growth?
                • Who are the key market vendors and their growth strategies?
                • What are the latest trends influencing the growth of this market?
                • What are the variables influencing the market growth in the primary regions?
                • What are the factors influencing the growth of the parent market?
                • Off-the-shelf research reports
                • Reports can be tailored to meet the customer's needs
                • Trusted by more than 100 fortune 500 organizations
                • Information about the market's key drivers, trends, and challenges
                • Parent market analysis
                • Every week, 50,000 people visit our subscription platform
                • Detailed vendors report with competitive landscape
                • Covid-19 impact and recovery analysis
                • Data on revenue-generating market segments
                • Details on the market shares of various regions
                • Five-force market analysis

                Certified ISO 9001 : 2015

                We are ISO recognized

                We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.

                We are GDPR and CCPA compliant

                We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.

                Safe and Secure SSL Encrypted
                Technavio

                info
                close
                • Single:

                  One user only.
                  Quick & easy download option

                • Enterprise:

                  Unlimited user access (Within your organization)
                  Complimentary Customization Included

                2500 USD

                Technavio Get the report (PDF) sent to your email within minutes.

                Subscribe & Save

                Get lifetime access to our
                Technavio Insights

                Customized Report as per your Business Needs

                • Our analysts will work directly with you and understand your needs
                • Get data on specified regions or segments, competitor and Vendors
                • Data will be formatted and presented as per your requirements
                • We offer $1000 worth of FREE customization at the time of purchase

                Let us help you make report more suited to your requirements.

                • Get a competitive breakdown as per your niche industry
                • Customize the data with various metrics that meet your business prerequisite
                • Understand Revenue Sources, Customers and many more
                • Details on Market Share
                • These customizations are done in a short amount of time by our analysts and industry experts
                Technavio
                Enquire Before Buying
                17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>