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 global self-monitoring blood glucose (smbg) devices market size grew from $13.24 billion in 2022 to $14.59 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The self-monitoring blood glucose (smbg) devices market size is expected to grow to $20.29 billion in 2027 at a CAGR of 8.6%.

What will drive the self-monitoring blood glucose (SMBG) devices market?
The Rise In The Prevalence Of Diabetes is expected to propel the growth of the self-monitoring blood glucose device market going forward.

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Who are the major players in the market?
Major Market Players in the self-monitoring blood glucose (SMBG) devices market include Abbott Laboratories, Bionime Corporation, B. Braun  Melsungen AG, F. Hoffmann-La Roche Ltd., LifeScan Inc., PHC Holdings Corporation, Home Diagnostics

Which trend is gaining popularity in the self-monitoring blood glucose (SMBG) devices market?
Technological advancement is a key trend gaining popularity in the self-monitoring blood glucose devices market. Major companies operating in the self-monitoring blood glucose devices market are focused on developing technologically advanced products to strengthen their position in the market. For instance, in September 2021, Know Labs Inc., a US-based company that manufactures glucose monitoring devices launched a new portable medical-grade glucose monitoring device named KnowU that utilizes Bio-RFID technology. This device is a non-invasive glucose monitoring machine that has a base that powers the device and displays readings and, a battery a powered monitor with Bio-RFID sensors that can be carried by the users to check sugar levels on the go. The KnowU is an affordable and convenient replacement for other expensive and painful blood glucose monitoring devices.

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How is the self-monitoring blood glucose (SMBG) devices market segmented?
Global Self-Monitoring Blood Glucose (SMBG) Devices Market Segments Include:
1) By Product: Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics & Centers
3) By Application: Type 1  Diabetes, Type 2 Diabetes, Gestational Diabetes

The Self-Monitoring Blood Glucose (SMBG) Devices Global Market Report 2023  provides an overview of the self-monitoring blood glucose (SMBG) devices market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The self-monitoring blood glucose (SMBG) devices market forecast analyzes self-monitoring blood glucose (SMBG) devices market size, self-monitoring blood glucose (SMBG) devices market share, leading competitor and their market positions.

Self-monitoring blood glucose (SMBG) device refers to portable instruments that can identify the possibilities of diabetes. These devices usually measure glucose levels by obtaining a small drop of blood from patients by pricking their fingers. International guidelines recommend this method for managing a patient’s diabetes successfully. The self-monitoring blood glucose (SMBG) device are used to measure the concentration of glucose in the blood.

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