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According to the latest research, the global BGMS (Blood Glucose Monitoring System) market size was valued at USD 17901.0 million in 2022 and is expected to expand at a CAGR of 13.66% during the forecast period, reaching USD 38594.31 million by 2028.
A blood glucose monitoring system also known as BGM is an effective tool used for monitoring blood sugar levels, especially for diabetic patients. Blood glucose monitoring systems have helped patients become self-reliant and take control of their medical health. BGM systems track high or low glucose levels and encourage the patients to take relevant medication or treatment. The blood glucose monitoring devices market includes conventional handheld blood glucose meters (BGMs) that require frequent fingerstick, and new, sensor-based continuous glucose monitoring systems (CGMs) typically worn the upper arm or abdomen that conveniently monitor blood glucose 24/7. Blood glucose monitoring systems work by understanding the resistance to an electric current sent through a blood-stained test strip. Or by inserting a sensor under the patient's skin that reads the glucose level between cell fluids. The type of blood glucose monitoring system to be used depends on the requirements of the patient.
BGMS (Blood Glucose Monitoring System) Drivers
The key drivers of the market are the rising incidence of diabetes and the increasing geriatric population prone to diabetes. The market growth is further propelled by the increasing awareness regarding diabetes preventive care and new product launches. Diabetes is a serious and growing problem globally, where the inefficiency of the pancreas to produce insulin results in an increase in blood glucose levels. According to the estimations of the International Diabetes Federation (IDF), in 2021, around 537 million adults were suffering from diabetes and it is projected to reach around 783 million by 2045.with the increasing prevalence of diabetic patients globally, it is critical for patients to regularly monitor their blood glucose levels to avoid an episode of hyperglycemia or hypoglycemia. The adoption of these systems is growing at a faster pace owing to factors such as the increasing patient pool living with diabetes， rising awareness regarding blood sugar monitoring among patients, and the introduction of novel monitoring devices by key players.
Also, a significant increase has been observed in the number of patients suffering from type-1 or insulin-dependent type 2 diabetes, which has been instrumental in surging the uptake of these systems globally. For instance, according to the data published by International Diabetes Federation, in 2021, it was estimated that the incidence of type 1diabetes was 149.5 per 1,000 in children and adolescents of age (0-19) years and the global prevalence was around9.8% among the total population. Hence, the presence of a large patient population suffering from insulin-dependent diabetes， new product introduction by market players， and favorable reimbursement are fueling the demand and adoption of diabetes monitoring products, such as BGMs. As a result, the market is forecasted to grow during 2023-2028.
Region Overview:
North America had the highest growth rate of all regions.
Company Overview:
Abbott is one of the major players operating in the BGMS (Blood Glucose Monitoring System) market, holding a share of 25.07% in 2022.
Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.
Roche AG is a Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Roche Holding AG develops and manufactures pharmaceutical and diagnostic products. The Company produces prescription drugs in the areas of cardiovascular, infectious, autoimmune, respiratory diseases, dermatology, metabolic disorders, oncology, transplantation, and the central nervous system.
Segmentation Overview:
Among different product types, Blood Glucose Test Strips segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Household segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the BGMS (Blood Glucose Monitoring System) industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of BGMS (Blood Glucose Monitoring System). The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global BGMS (Blood Glucose Monitoring System) Market Report Include:
Market Size Estimates: BGMS (Blood Glucose Monitoring System) market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: BGMS (Blood Glucose Monitoring System) market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the BGMS (Blood Glucose Monitoring System) market
Segment Market Analysis: BGMS (Blood Glucose Monitoring System) market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: BGMS (Blood Glucose Monitoring System) market situations and prospects in major and top regions and countries
BGMS (Blood Glucose Monitoring System) Market
BGMS (Blood Glucose Monitoring System) Industry Chain: BGMS (Blood Glucose Monitoring System) market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
BGMS (Blood Glucose Monitoring System) Industry News, Policies by regions
BGMS (Blood Glucose Monitoring System) Industry Porters Five Forces Analysis
Key players in the global BGMS (Blood Glucose Monitoring System) market are covered in Chapter 2:
ARKRAY
Yuwell
Sinocare
ALL Medicus
Abbott
LifeScan
AgaMatrix
I-SENS
77 Elektronika
Acon
Terumo
B. Braun
Roche
Medtronic PLC
Ascensia
Omron
In Chapter 6 and Chapter 9, on the basis of types, the BGMS (Blood Glucose Monitoring System) market from 2018 to 2028 is primarily split into:
Blood Glucose Test Strips
Blood Glucose Meter
CGMS (Continuous Glucose Monitoring System)
In Chapter 7 and Chapter 10, on the basis of applications, the BGMS (Blood Glucose Monitoring System) market from 2018 to 2028 covers:
Hospital
Household
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global BGMS (Blood Glucose Monitoring System) market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the BGMS (Blood Glucose Monitoring System) industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of BGMS (Blood Glucose Monitoring System) market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the BGMS (Blood Glucose Monitoring System) industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on BGMS (Blood Glucose Monitoring System) market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the BGMS (Blood Glucose Monitoring System) market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed BGMS (Blood Glucose Monitoring System) market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
A blood glucose monitoring system also known as BGM is an effective tool used for monitoring blood sugar levels, especially for diabetic patients. Blood glucose monitoring systems have helped patients become self-reliant and take control of their medical health. BGM systems track high or low glucose levels and encourage the patients to take relevant medication or treatment. The blood glucose monitoring devices market includes conventional handheld blood glucose meters (BGMs) that require frequent fingerstick, and new, sensor-based continuous glucose monitoring systems (CGMs) typically worn the upper arm or abdomen that conveniently monitor blood glucose 24/7. Blood glucose monitoring systems work by understanding the resistance to an electric current sent through a blood-stained test strip. Or by inserting a sensor under the patient's skin that reads the glucose level between cell fluids. The type of blood glucose monitoring system to be used depends on the requirements of the patient.
BGMS (Blood Glucose Monitoring System) Drivers
The key drivers of the market are the rising incidence of diabetes and the increasing geriatric population prone to diabetes. The market growth is further propelled by the increasing awareness regarding diabetes preventive care and new product launches. Diabetes is a serious and growing problem globally, where the inefficiency of the pancreas to produce insulin results in an increase in blood glucose levels. According to the estimations of the International Diabetes Federation (IDF), in 2021, around 537 million adults were suffering from diabetes and it is projected to reach around 783 million by 2045.with the increasing prevalence of diabetic patients globally, it is critical for patients to regularly monitor their blood glucose levels to avoid an episode of hyperglycemia or hypoglycemia. The adoption of these systems is growing at a faster pace owing to factors such as the increasing patient pool living with diabetes， rising awareness regarding blood sugar monitoring among patients, and the introduction of novel monitoring devices by key players.
Also, a significant increase has been observed in the number of patients suffering from type-1 or insulin-dependent type 2 diabetes, which has been instrumental in surging the uptake of these systems globally. For instance, according to the data published by International Diabetes Federation, in 2021, it was estimated that the incidence of type 1diabetes was 149.5 per 1,000 in children and adolescents of age (0-19) years and the global prevalence was around9.8% among the total population. Hence, the presence of a large patient population suffering from insulin-dependent diabetes， new product introduction by market players， and favorable reimbursement are fueling the demand and adoption of diabetes monitoring products, such as BGMs. As a result, the market is forecasted to grow during 2023-2028.
Region Overview:
North America had the highest growth rate of all regions.
Company Overview:
Abbott is one of the major players operating in the BGMS (Blood Glucose Monitoring System) market, holding a share of 25.07% in 2022.
Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors.
Roche AG is a Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics. Roche Holding AG develops and manufactures pharmaceutical and diagnostic products. The Company produces prescription drugs in the areas of cardiovascular, infectious, autoimmune, respiratory diseases, dermatology, metabolic disorders, oncology, transplantation, and the central nervous system.
Segmentation Overview:
Among different product types, Blood Glucose Test Strips segment is anticipated to contribute the largest market share in 2027.
Application Overview:
By application, the Household segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the BGMS (Blood Glucose Monitoring System) industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of BGMS (Blood Glucose Monitoring System). The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global BGMS (Blood Glucose Monitoring System) Market Report Include:
Market Size Estimates: BGMS (Blood Glucose Monitoring System) market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: BGMS (Blood Glucose Monitoring System) market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the BGMS (Blood Glucose Monitoring System) market
Segment Market Analysis: BGMS (Blood Glucose Monitoring System) market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: BGMS (Blood Glucose Monitoring System) market situations and prospects in major and top regions and countries
BGMS (Blood Glucose Monitoring System) Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.BGMS (Blood Glucose Monitoring System) Industry Chain: BGMS (Blood Glucose Monitoring System) market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
BGMS (Blood Glucose Monitoring System) Industry News, Policies by regions
BGMS (Blood Glucose Monitoring System) Industry Porters Five Forces Analysis
Key players in the global BGMS (Blood Glucose Monitoring System) market are covered in Chapter 2:
ARKRAY
Yuwell
Sinocare
ALL Medicus
Abbott
LifeScan
AgaMatrix
I-SENS
77 Elektronika
Acon
Terumo
B. Braun
Roche
Medtronic PLC
Ascensia
Omron
In Chapter 6 and Chapter 9, on the basis of types, the BGMS (Blood Glucose Monitoring System) market from 2018 to 2028 is primarily split into:
Blood Glucose Test Strips
Blood Glucose Meter
CGMS (Continuous Glucose Monitoring System)
In Chapter 7 and Chapter 10, on the basis of applications, the BGMS (Blood Glucose Monitoring System) market from 2018 to 2028 covers:
Hospital
Household
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global BGMS (Blood Glucose Monitoring System) market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the BGMS (Blood Glucose Monitoring System) industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of BGMS (Blood Glucose Monitoring System) market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the BGMS (Blood Glucose Monitoring System) industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on BGMS (Blood Glucose Monitoring System) market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the BGMS (Blood Glucose Monitoring System) market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed BGMS (Blood Glucose Monitoring System) market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
