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The self-monitoring blood glucose devices market is forecasted to achieve significantly growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!

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The Self-Monitoring Blood Glucose Devices Market Size In 2022 And Forecast

The global self-monitoring blood glucose devices market is expected to grow from $11.99 billion in 2021 to $13.18 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The global self-monitoring blood glucose (SMBG) devices market size is expected to grow to $18.10 billion in 2026 at a CAGR of 8.3%.

The self-monitoring blood glucose (SMBG) device market consists of the sale of self-monitoring blood glucose (SMBG) devices by entities (organizations, sole traders, and partnerships) that are used to measure the concentration of glucose in the blood.

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The Rising Prevalence Of Diabetes Is Driving The Growth Of The Self-Monitoring Blood Glucose Devices Market

For instance, according to the report published by International Diabetes Federation in 2021, there are 463 million individuals living with diabetes around the world in 2019, and increase to 537 million in 2021. Also, by the year 2030, the overall number of diabetics is expected to reach 643 million, and by 2045, it will reach 783 million. Therefore, the rising prevalence of diabetes is driving the growth of the self-monitoring blood glucose devices market.

Competitive Landscape And The Regional Analysis Of The Self-Monitoring Blood Glucose Devices Market

Major players in the self-monitoring blood glucose devices market are Abbott Laboratories, Bionime Corporation, B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd, LifeScan Inc, PHC Holdings Corporation, Home Diagnostics Inc, Terumo Pharmaceutical Solutions, ARKRAY Inc, Ypsomed Holding AG, Dexcom Inc, Medtronic Plc, Novo Nordisk, Glysens Incorporated, and Senseonics Holdings.

Additionally, as per TBRC’s research – North America was the largest region in the self-monitoring blood glucose devices market in 2021 holding the largest market share and Europe is expected to be the fastest-growing region in the forecast period.

The Self-Monitoring Blood Glucose Devices Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the self-monitoring blood glucose devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the self-monitoring blood glucose devices market.

Technological Advancement – A Key Trend 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.

Self-Monitoring Blood Glucose Devices Market Segmentation By The Business Research Company

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

Here Are Some Reports Related To The Self-Monitoring Blood Glucose Devices Market –

Continuous Blood Glucose Monitoring Global Market Report 2022

Blood Glucose Meters Global Market Report 2022

Digital Diabetes Management Global Market Report 2022

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