The glucometer market has seen considerable growth due to a variety of factors.
• The market for glucometers has seen a robust expansion in the past few years. The market is projected to increase from $14.15 billion in 2024 to $15.51 billion in 2025, with a compound annual growth rate (CAGR) of 9.6%.
Factors such as insurance coverage, consumer education, the convergence of the healthcare industry, and health awareness initiatives have contributed to growth during the historical period.
The glucometer market is expected to maintain its strong growth trajectory in upcoming years.
• The projected market size of glucometers is anticipated to experience substantial growth over the years to come, expanding to $24.46 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 12.0%.
The surge in this market in the forecast period is linked to the growing number of diabetes cases, the escalation in health infrastructure spending, the rising elderly population, and the growing demand for self-monitoring devices. Key trends expected to shape the forecast period include the application of artificial intelligence in healthcare, remote monitoring and telehealth, technological advancements, and an uptick in collaboration.
The surge in diabetes cases is propelling the glucometer market's growth. Diabetes is a chronic metabolic disorder featuring heightened blood glucose or blood sugar levels. Over time, this condition can inflict serious damages to the heart, blood vessels, eyes, kidneys, and nerves. Individuals suffering from diabetes utilize glucometers to keep track of their blood glucose levels. Hence, with the rise in diabetes occurrences, the need for glucometers has shot up as well. For instance, the International Diabetes Federation, a US-based umbrella group comprising over 230 national diabetes associations from 170 nations, states that around 537 million adults aged between 20-79 have diabetes worldwide. This figure is expected to escalate to 643 million by 2030 and reach 783 million by 2045. Consequently, the increasing instances of diabetes stimulate the glucometer market's advancement.
The glucometer market covered in this report is segmented –
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
Subsegments:
1) By Continuous Glucose Monitoring Devices: Real-Time CGM Systems, Flash Glucose Monitoring Systems
2) By Self-Monitoring Blood Glucose System: Blood Glucose Meters, Test Strips, Lancets
The emergence of product innovations is a noteworthy trend in the glucometer market, with major players unveiling a variety of products to maintain their market standing. Roche, a Swiss healthcare company, introduced a sophisticated point-of-care blood glucose monitor catered to hospital staff in January 2022, accompanied by a device bearing similarities to a touchscreen smartphone that hosts its applications. The Cobas pulse device, flaunting distinctive qualities such as a touchscreen, camera, and automated glucose test strip reader, also has a robust body that can undergo disinfection and serves to record additional diagnostic data.
Major companies operating in the glucometer market include:
• Johnson & Johnson Services Inc.
• Bayer AG
• Abbott Laboratories
• F. Hoffmann-La Roche Ltd.
• Medtronic plc.
• Arkray Inc.
• B Braun Melsungen AG
• Omron Corporation
• Terumo Corporation
• Nipro Corporation
• Dexcom Inc.
• Bionime Corporation
• LifeScan Inc.
• NOVA Biomedical
• Sinocare Inc.
• TaiDoc Technology Corporation
• i-SENS Inc.
• EKF Diagnostics Holdings plc
• ForaCare Inc.
• LabStyle Innovations Corp.
• Acon Laboratories Inc.
• Ascensia Diabetes Care Holdings AG
• Omnis Health LLC
• Entra Health Systems LLC
• Hainice Medical Inc.
• PTS Diagnostics
• Ypsomed AG
• WaveForm Technologies Inc.
• Medtrum Health Inc.
• Cellnovo Group
North America was the largest region in the glucometer market in 2024. The regions covered in the glucometer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.