What Transformation Has the Self-Monitoring Blood Glucose (SMBG) Devices Market Undergone?
The self-monitoring blood glucose (smbg) devices market has seen considerable growth due to a variety of factors.
• In the last few years, there has been a significant expansion in the market size for self-monitoring blood glucose (SMBG) devices. Anticipated growth is from $15.23 billion in 2024 to an estimated $16.28 billion in 2025, following a compound annual growth rate (CAGR) of 6.9%.
Factors that have influenced this growth historically include an increase in cases of diabetes, enhanced awareness about healthcare, the aging demographic, the introduction of government initiatives and regulations, and an increase in healthcare expenditures.
How Will The Self-Monitoring Blood Glucose (SMBG) Devices Market Size Evolve In The Foreseeable Future?
The self-monitoring blood glucose (smbg) devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for self-monitoring blood glucose (SMBG) devices is predicted to significantly strengthen in the upcoming years, reaching a valuation of $22.75 billion by 2029 with a compound annual growth rate (CAGR) of 8.7%.
This anticipated growth during the forecast period is due to the increasing prevalence of home healthcare, the extension of telehealth, an increase in disposable income, heightened demand for remote monitoring, and a rise in e-commerce. The forecast period is also expected to see major trends such as the integration of continuous glucose monitoring (CGM), the application of artificial intelligence (AI) and machine learning, the emergence of wearable SMBG devices, non-invasive monitoring methods, as well as the introduction of mobile applications and connectivity.
Which Drivers Are Accelerating Growth In The Self-Monitoring Blood Glucose (SMBG) Devices Market?
The self-monitoring blood glucose device market is predicted to expand due to the growing incidence of diabetes. Individuals with diabetes use a blood glucose self-monitoring tool, which allows them to assess their blood sugar levels with a glucose meter, enabling them to adapt or track the effectiveness of their management plan based on diet, physical activity, insulin, and antidiabetics or consult their doctor depending on the test results. For instance, the Office for Health Improvement & Disparities in the UK reported in March 2024 that from March 2022 to March 2023, there was a 22% increase in individuals with type 1 diabetes receiving all eight recommended care procedures, and for those with type 2 diabetes, the increase was 21%. Furthermore, the percentage reaching target HbA1c levels escalated to 37.9%, the most significant level ever noted in the National Diabetes Audit (NDA). Consequently, the escalating incidence of diabetes is fuelling the growth of the self-monitoring blood glucose devices market.
What Are The Core Segments Of The Global Self-Monitoring Blood Glucose (SMBG) Devices Market?
The self-monitoring blood glucose (SMBG) devices market covered in this report is segmented –
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
Subsegments:
1) By Self-Monitoring Blood Glucose Meters: Traditional Glucose Meters, Smart Glucose Meters
2) By Continuous Glucose Monitors (CGMs): Real-Time CGMs, Flash Glucose Monitoring Systems
3) By Testing Strips: Standard Testing Strips, Test Strips for Specific Meters
4) By Lancets: Standard Lancets, Safety Lancets
Pre-Book The Self-Monitoring Blood Glucose (SMBG) Devices Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Emerging Trends Are Reshaping The Self-Monitoring Blood Glucose (SMBG) Devices Market Size?
Technological progression is a burgeoning trend seen in the market for self-monitoring blood glucose devices. Leading firms in the market are honing their focus on the creation of technologically superior products to consolidate their market presence. Know Labs Inc, a company based in the US and known for manufacturing glucose monitoring devices, has unveiled its latest product – a portable, medical-grade glucose monitoring device named KnowU that incorporates Bio-RFID technology. This device, which is non-invasive, comes with a base that both powers the device and displays readings. It also includes a battery-powered monitor with Bio-RFID sensors, allowing users to easily measure sugar levels while on the move. KnowU provides a cost-effective and hassle-free alternative to other blood glucose monitoring devices that are more expensive and invasive.
Who Are the Key Players in the Self-Monitoring Blood Glucose (SMBG) Devices Market?
Major companies operating 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 Inc
• Terumo Pharmaceutical Solutions
• ARKRAY Inc
• Ypsomed Holding AG
• Dexcom Inc
• Medtronic plc
• Novo Nordisk A/S
• Glysens Incorporated
• Senseonics Holdings Inc.
• AgaMatrix Inc.
• All Medicus Co. Ltd.
• Ascensia Diabetes Care Holdings AG
• Bayer AG
• Becton Dickinson and Company
• Bio-Rad Laboratories Inc.
• Bioptik Technology Inc.
• Cnoga Medical Ltd.
• ForaCare Inc.
• Glucovation Inc.
• Hainice Medical Inc.
• Infopia Co. Ltd.
• Insulet Corporation
• Integrity Applications
• Johnson & Johnson
• Menarini Diagnostics
• Nemaura Medical Inc.
• Nipro Corporation
• Nova Biomedical Corporation
• Omron Healthcare Inc.
• Optiscan Biomedical Corporation
• OrSense Ltd.
• Pinnacle Technology Inc.
• Prodigy Diabetes Care LLC
• PTS Diagnostics
• TaiDoc Technology Corporation
• Trividia Health Inc.
• WaveForm Technologies Inc.
What are the Regional Insights into the Self-Monitoring Blood Glucose (SMBG) Devices Market?
North America was the largest region in the self-monitoring blood glucose (SMBG) devices market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the self-monitoring blood glucose (SMBG) devices market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
