The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s glucometer market report forecasts the glucometer market size to grow to $18.65 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.

Learn More On The Glucometer Market Report 2023 – https://www.thebusinessresearchcompany.com/report/glucometer-global-market-report

Glucometer Market Size Forecast
The global glucometer market is expected to grow from $11.98 billion in 2022 to $13.12 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The glucometer market is expected to reach $18.65 billion in 2027 at a CAGR of 9.2%.

North America held the largest glucometer market share.

Key Glucometer Market Driver ­– Increase In The Prevalence Of Diabetes
For instance, in December 2021, according to the statistics published by International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20-79 years) recorded living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide will have diabetes. Therefore, the increase in the prevalence of diabetes drives the glucometer market.

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Key Glucometer Market Trend – Product Innovations
Major companies in the market are introducing various products to sustain their position in the market. For instance, in January 2022, Roche, a Switzerland-based healthcare company introduced a brand-new point-of-care blood glucose monitor for hospital staff, along with a companion device resembling a touchscreen smartphone that would run its apps. The unique features of this portable Cobas pulse device have a touchscreen, camera, and automated glucose test strip reader. It also has a hardened body that can be disinfected and is used for logging other diagnostic data.

Glucometer Market Segment
1) By Product: Continuous Glucose Monitoring Devices, Self-Monitoring Blood Glucose System
2) By Technique: Invasive, Non-Invasive
3) By Distribution Channel: Institutional Sales, Hospitals, Clinics, Retail Sales, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

Glucometer Market Major Players and Strategies
Major players in the glucometer market are Abbott Laboratories, Medtronic plc., F. Hoffmann-La Roche Ltd., Bayer AG, Dexcom Inc., B Braun Melsungen AG, Johnson & Johnson Services Inc., Omron Corporation, Acon Laboratories Inc., Arkray Inc., NOVA, LifeScanInc., i-SENS Inc., Teromo Corporation, Hainice Medical Inc., Glucostratus Ltd.

In February 2022, Sorrento, a San Diego-based healthcare company acquired Virex Health for an undisclosed amount. With this acquisition, The patented Virex technology employs enzymatic and electrochemical amplification to detect picogram levels biological analytes, such as SARS-CoV-2 and its variations, Flu A/B, as well as indicators for liver cancer, inflammation, and hormone monitoring. Virex Health is a US-based company that develops glucometers.

The Glucometer Global Market Report 2023 covers regional data on glucometer market size, glucometer market trends and drivers, opportunities, strategies, and glucometer market competitor analysis. The countries covered in the glucometer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A glucometer, also referred to as a glucose meter is a medical instrument for estimating the level of glucose in the blood. This compact portable instrument measures the quantity of glucose in the blood also known as the blood glucose level. This is a common tool used by people with diabetes to help them control their disease.

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