[182 Pages Report] The Blood Glucose Testing Market size was estimated at USD 19.34 billion in 2023 and expected to reach USD 21.15 billion in 2024, at a CAGR 9.67% to reach USD 36.92 billion by 2030.
Blood glucose testing includes devices and supplies used to measure blood glucose levels in individuals with diabetes. Blood glucose testing includes glucose meters, test strips, lancets, and continuous glucose monitoring systems. The increasing prevalence of diabetes, growing awareness about the significance of glucose monitoring, and the growing adoption of self-monitoring devices are driving the adoption of blood glucose testing devices. According to International Diabetes Federation, approximately 537 million people were diagnosed with diabetes in 2021; this number is anticipated to rise to 643 million by 2030. The growing prevalence of diabetes and the global shortage of healthcare professionals (HCP) necessitates the development of new approaches to detect drastic changes in blood glucose, expanding the usage of blood glucose testing devices. However, concerns about the accuracy and precision of measurement with blood glucose testing hamper the market growth. The researchers and market players constantly focus on upgrading the blood glucose testing devices and bringing innovation to their product portfolio, creating opportunities for market growth. In addition, the recent FDA approvals for novel blood glucose testing with a fully implantable glucose sensor and compatible mobile app have encouraged market growth and offered new attractive devices for diabetic patients.
Regional Insights
The rising acceptance of technologically advanced medical devices and the increasing prevalence of diabetes is expected to expand the need for blood glucose testing devices in the Americas. According to a recent study, there are more than 30 million diabetic patients in North America and is expected to increase to 34 million by 2027. The increasing number of start-ups in countries including the United States, Canada, and Brazil and their efforts to bring new technologies associated with blood glucose testing are expected to contribute to the market growth in the Americas. For instance, in July 2020, Medtronic PLC and Tandem Diabetes Care Inc. announced that they entered into a non-exclusive patent cross-license agreement for certain technologies in the field of diabetes. The increasing prevalence of diabetic patients in Asia-Pacific is creating a platform for the growth of the blood glucose testing market in Asia-Pacific. According to the International Diabetes Federation (IDF), in 2021, approximately one in every ten adults in Asia had diabetes. One in every six diabetics globally comes from India, and one in every four comes from China. Furthermore, an increase in awareness regarding diabetes preventive care is augmenting the growth of the blood glucose testing market in Asia-Pacific.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Blood Glucose Testing Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Blood Glucose Testing Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Blood Glucose Testing Market, highlighting leading vendors and their innovative profiles. These include A. Menarini Diagnostics s.r.l., Abbott Laboratories, ACON Laboratories, Inc., AgaMatrix, Inc., ARKRAY, Inc., B. Braun Melsungen AG, Bionime Corporation, DexCom, Inc., DiaMonTech AG, F. Hoffmann-La Roche AG, GlySens Incorporated, Indigo Diabetes NV, Johnson & Johnson Services, Inc., LifeScan, Inc., Medisana GmbH, Medtronic PLC, Merck KGaA, Nipro Corporation, Nova Biomedical Corporation, Novo Nordisk A/S, Omnipod by Insulet Corporation, OrSense Ltd., PHC Holdings Corporation, Prodigy Diabetes Care, LLC, Rossmax International Ltd., Senseonics Holdings, Inc., Sinocare Inc., Terumo Corporation, Trividia Health, Inc., and Ypsomed AG.
Market Segmentation & Coverage
This research report categorizes the Blood Glucose Testing Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Product
- Glucose Meter
- Continuous Glucose Monitoring
- Discrete Glucose Monitoring
- Lancets
- Test Strips
- Glucose Meter
- Distribution Channel
- Offline
- Online
- End-User
- Home Care
- Hospital & Clinics
- Application
- Gestational Diabetes
- Type 1 Diabetes
- Type 2 Diabetes
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Blood Glucose Testing Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Blood Glucose Testing Market?
- What are the technology trends and regulatory frameworks in the Blood Glucose Testing Market?
- What is the market share of the leading vendors in the Blood Glucose Testing Market?
- Which modes and strategic moves are suitable for entering the Blood Glucose Testing Market?
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