The global blood glucose monitoring system market is growing at 9.7% CAGR owing to the increased adoption of monitoring devices by the type-2 diabetic population. The rising diabetic population, obesity, technological innovations, and advancement will propel the growth of the global blood glucose monitoring system market. There will be continuous monitoring and help in detecting hypo and hyperglycemic conditions resulting in the growth of the blood glucose monitoring system market.

According to International Diabetes Federation (IDF) in 2020, approximately 463 million adults were having diabetes and out of it 10% of diabetic patients are suffering from type 1 diabetes and 90% are suffering from type 2 diabetes.

Furthermore, the favorable reimbursement policies to have self-monitor blood glucose (SMBG) and continuous glucose monitor systems (CGM) will lead to the adoption of these devices and bolster the growth in the blood glucose monitoring system market.

The COVID-19 pandemic has a positive impact on the blood glucose monitoring system market as there is a raising need for home use monitoring devices to manage the blood glucose levels of diabetic patients. For instance, Abbott's revenue has increased by 59.3% during the first quarter of 2020 owing to the people purchasing glucose monitoring device FreeStyle Libre.

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Based on the product, the continuous blood glucose monitoring system is anticipated to have a significant growth owing to the frequent blood sugar reading. The continuous blood glucose monitoring system is sub-divided into sensors, insulin pumps, and transmitter and receiver.

Based on end-user, the home care setting is anticipated to have substantial growth it has revolutionized self-monitoring of blood glucose and is a widely adopted method for short-term glucose monitoring globally.

North America dominates the blood glucose monitoring system market owing to the rising prominence of obesity, technological development, and novel product launch in the region. The favorable reimbursement policies and raising awareness of developed diabetic care solutions among individuals and healthcare providers will propel the growth in the region.

F. Hoffmann-La Roche has launched Accu-Chek Instant System and connect directly with the app mySugr and provides real-time data of blood glucose level.
Ascensia Diabetes Care took a distribution in Germany, Switzerland, Italy, Spain, Netherlands, and Poland of EVERSENSE XL of Senseonics, Inc. and further expand it in the European market.

The prominent players in the blood glucose monitoring system industry are Abbott Laboratories, B. Braun Melsungen, F. Hoffmann-La Roche, Ypsomed, Lifescan, Medtronic, Ascensia Diabetes Care, Dexcom, Nipro, and Sanofi.

Source: VynZ Research