Report Code: CMI18790

Published Date: September 2022

Pages: 220+

Category: Medical Devices

Report Snapshot

CAGR: 10.1%
15.94B
2021
18.11B
2022
31.34B
2030

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Abbott Laboratories
  • Medtronic plc
  • Hoffmann-La Roche Ltd.
  • Others

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Reports Description

The blood glucose monitoring system market has projected a growth Of USD 15.94 billion by 2021 and is expected to reach USD 18.11 billion in 2022 and is expected to reach USD 31.34 billion by the end of 2030 at a compound annual growth rate of 10.1%.

The rapidly increasing number of patients who have diabetes has increased the demand for efficient blood glucose monitoring systems in the market. The key market players make huge investments to carry out rapid research and development programs which will help them to introduce advanced machines and monitoring systems for diabetes. A continuous monitoring system helps to constantly evaluate the patient’s condition and can be reevaluated to select the suitable line of treatment and diet.

The pandemic outbreak considerably impacted the growth of the blood glucose monitoring system as the COVID infection is directly related to the individual’s blood glucose level. Many cases of diabetes emerged after the occurrence of the pandemic. The use of insulin was rapidly increased in the hospital sector to control the sugar levels of the patients.

Growth Factors

The rapidly increasing number of complications in the individual’s body after the occurrence of diabetes has helped boost the market for blood glucose monitoring systems. Non-healing of wounds becomes a major complication that must be managed by evaluating the glucose levels in the body, which directly impacts the healing process. Increasing awareness regarding the available facilities and advanced technologies for monitoring blood glucose and controlling it has helped the market of blood glucose monitoring systems to show tremendous growth. Key market players are making constant efforts to make these systems affordable for patients to increase the demand and supply all over the world.

Segmental Insights

Segmentation of blood glucose monitoring system based on Device Type

Based on device type, the segment of continuous glucose monitoring systems acquired the largest market share due to its huge demand in the market. Many developing countries all over the world are adopting the usage of the continuous glucose monitoring system to have a close watch on the diabetic parameters of the individual and maintain their health.

Regular checkup of glucose levels makes it easier for the healthcare industry to obtain better results by administering the required drugs and medicines per the patient’s condition. The results provided by continuous blood glucose monitoring systems are far more useful and accurate than the other types of systems available on the market.

The self-monitoring blood glucose system is observing a huge market in the current scenario. This market is foreseen to face a declining phase in the future due to the costly devices available in the market, which do not make it affordable for the common people to opt for such advanced technologies. This hampers the glucose monitoring system and has a direct impact on the health of the individual.

The increasing rates of consumables in the market have also been a reason to reduce the disposable income available to the people, hampers the growth of the market. These devices’ lack of penetration capacity encourages the adoption of continuous glucose monitoring system devices, which are capturing the market faster.

  • Segmentation of blood glucose monitoring system based on Modality

Based on mortality, the segment of non-wearable maintained a dominating status in the market pertaining of its huge demand among the people. The existence of key market players in this sector who have great potential, along with huge economic backup, has helped this segment to perform better than its counterparts in the market. This becomes the primary reason for the great support behind the market’s growth during the forecast period. On the other hand, the wearable segment is emerging at a faster rate, and it’s foreseen to become a larger market in the future due to its rapid development.

The huge number of innovations and products being launched into the market by the key market players and manufacturers has helped the market to strengthen its foothold for the future. Increasing people’s awareness of the system’s pros and cons is helping the market to show tremendous results.

Global Blood Glucose Monitoring System Market 2023 – 2032 (By Modality)

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  • Segmentation of blood glucose monitoring system based on Type

Based on type, this segment of invasive devices has dominated the market due to the huge demand and supply experienced in the market, which stops people from considering self-monitoring systems to manage their glucose levels which has boosted the demand for invasive devices due to their easy operating systems.

Invasive devices do not require special skills and hence can be used easily by common people to monitor their blood glucose levels. On the other hand, reducing tolerance for pain during the invasive procedure carried out for monitoring blood glucose levels has increased the demand for noninvasive systems, making it easier for the operator and reducing the risk of associated injury. Another reason which boosts the demand for noninvasive devices is the non-healing capacity of the diabetic individual, which may impose a greater risk for the person’s health in case the needle prick injury develops into a bigger wound.

The presence of a huge geriatric population all over the world has boosted the number of patients suffering from blood glucose disorders and diabetes, and hence the requirement for advanced technologies to monitor the levels in the body becomes the need of the hour. Noninvasive blood glucose monitoring is very comfortable and easy for older people and hence is seen a rapid demand in the current market. 

  • Segmentation of blood glucose monitoring system based on Diabetes Type

Based on the type of diabetes, the increasing number of patients with type 2 diabetes has boosted the market to a great extent, and hence it emerges as a dominant market. The huge number of patients with this disorder increases the consumption of insulin and other anti-glycemic drugs used to control the glucose level in the blood. These patients are insulin dependent and hence require the use of glucose monitoring devices which are usually of the invasive type and produce a very minimal amount of pain in the individual’s body.

Key market players are conducting extensive research and development programs to make these devices into a noninvasive pattern, making it easier for the geriatric population to administer these medicines. A notable contribution has been recorded on behalf of type 1 diabetes; hence, the requirement for continuous glucose monitoring systems has increased. This system provides high efficiency in monitoring the individual’s blood glucose level. People who have type 1 diabetes have a high risk of low blood sugar levels or hypoglycemia, which might prove to be fatal for the body of the individual and lead to fainting spells or dizziness. The increasing prevalence of this type of diabetes has emerged as a leading market and is foreseen to show considerable growth during the forecast period.

Global Blood Glucose Monitoring System Market 2023 – 2032 (By Type)

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  • Segmentation of blood glucose monitoring system based on Distribution Channel

Based on distribution channels, the retail sales segment has emerged as a dominant market due to the huge demand and supply chain, which results from the existence of a huge number of people suffering from this disease. Usually, only in the initial stages of this disorder do people visit a hospital sector, and after that, they usually prefer to purchase the medicines according to the prescription from the retail stores. This tendency to purchase medicines over the counter from retail stores has proved to be a major factor that has boosted the economy for retail sales.

The regular demand and supply experienced in retail sales owing to the huge client base available in the market has supported the growth of this segment to a great extent and is foreseen to dominate the market during the future period as well. The institutional sales segment has presented a moderate pace in the market due to the lower adoption rate of blood glucose monitors in hospitals and clinics. After the pandemic outbreak, many healthcare sectors adopted these systems, which included continuous glucose monitors on a larger scale; hence, it expects considerable growth in the future.

Report Scope

Feature of the Report Details
Market Size in 2021 USD 15.94 Billion
Projected Market Size in 2030 USD 31.34 Billion
CAGR Growth Rate 10.1% CAGR (2022-2030)
Base Year 2023
Forecast Period 2024-2033
Prominent Players Abbott Laboratories, Medtronic plc, F. Hoffmann-La Roche Ltd., Ascensia Diabetes Care, Dexcom, Inc., Sanofi, Novo Nordisk, Insulet Corporation, Ypsomed Holdings, Glysens Incorporated, and Others
Key Segment By Device, Modality, Type, Patient Type, Distribution Channel, and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Regional Insights

Based on geography, the huge number of people suffering from diabetes and blood glucose disorders in North America has proved to be a major factor that has made this region a dominant market and is foreseen to continue similarly in the future. As a result of the developed status of the country, these sedentary lifestyle practices have increased to a great extent, resulting from the huge number of multinational companies that demand long working hours. Hence the increasing amount of stress and lifestyle disorders have proved to be the causative factors for diabetes and other blood glucose-related disorders.

The demand for blood glucose monitoring systems has seen a tremendous boost in this region, supported by the high disposable income available to the people. The next largest market follows there is the region of Europe which comprises a huge client base suffering from diabetes. The rapidly growing awareness regarding the management of diabetes among people has boosted the blood glucose monitoring systems market size.

The region of Asia Pacific has emerged as the next sector, which has shown considerable growth due to the increasing number of people who have diabetes; hence, the demand and supply of blood glucose monitoring systems have increased.

Recent developments

  • In February 2021 – Ascensia diabetes care holding AG acquired the distribution channel of Eversense XL, which is located in Germany, Spain, Italy, Netherlands and Switzerland, to meet the increasing demands in the market of Europe.
  • In March 2021 – F. Hoffmann- la Roche Co Introduced Accuchek instant product, which connects directly to the mySugr app. This app provides the data for blood glucose parameters in real time.

Global Blood Glucose Monitoring System Market 2023 – 2032 (By Billion)

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Key Players

  • Abbott Laboratories
  • Medtronic plc
  • Hoffmann-La Roche Ltd.
  • Ascensia Diabetes Care
  • Dexcom, Inc.
  • Sanofi
  • Novo Nordisk
  • Insulet Corporation
  • Ypsomed Holdings
  • Glysens Incorporated

Segments covered in the report

By Device

  • Self monitoring blood glucose system
  • Continuous glucose monitoring system

By Modality

  • Non wearable
  • Wearable

By Type

  • Invasive
  • Non invasive

By Patient Type

  • Type 1 diabetes
  • Type 2 diabetes

By Distribution Channel

  • Retail sales
  • Institutional sales

On the basis of Geography

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Blood Glucose Monitoring System Market, (2022 – 2030) (USD Billion)
    • 2.2 Global Blood Glucose Monitoring System Market: Snapshot
  • Chapter 3. Global Blood Glucose Monitoring System Market – Industry Analysis
    • 3.1 Blood Glucose Monitoring System Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Complications In The Individual’s Body
      • 3.2.2 Non-Healing Of Wounds
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market Attractiveness Analysis By Device
      • 3.7.2 Market Attractiveness Analysis By Modality
      • 3.7.3 Market Attractiveness Analysis By Type
      • 3.7.4 Market Attractiveness Analysis By Patient Type
      • 3.7.5 Market Attractiveness Analysis By Distribution Channel
  • Chapter 4. Global Blood Glucose Monitoring System Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Blood Glucose Monitoring System Market: Company Market Share, 2021
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, collaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Blood Glucose Monitoring System Market – Device Analysis
    • 5.1 Global Blood Glucose Monitoring System Market Overview: By Device
      • 5.1.1 Global Blood Glucose Monitoring System Market Share, By Device, 2021 and 2030
    • 5.2 Self-Monitoring Blood Glucose System
      • 5.2.1 Global Blood Glucose Monitoring System Market by Self-Monitoring Blood Glucose System, 2022 – 2030 (USD Billion)
    • 5.3 Continuous Glucose Monitoring System
      • 5.3.1 Global Blood Glucose Monitoring System Market by Continuous Glucose Monitoring System, 2022 – 2030 (USD Billion)
  • Chapter 6. Global Blood Glucose Monitoring System Market – Modality Analysis
    • 6.1 Global Blood Glucose Monitoring System Market Overview: By Modality
      • 6.1.1 Global Blood Glucose Monitoring System Market Share, By Modality, 2021 and 2030
    • 6.2 Non Wearable
      • 6.2.1 Global Blood Glucose Monitoring System Market by Non-Wearable, 2022 – 2030 (USD Billion)
    • 6.3 Wearable
      • 6.3.1 Global Blood Glucose Monitoring System Market by Wearable, 2022 – 2030 (USD Billion)
  • Chapter 7. Global Blood Glucose Monitoring System Market – Type Analysis
    • 7.1 Global Blood Glucose Monitoring System Market Overview: By Type
      • 7.1.1 Global Blood Glucose Monitoring Systems Market Share, By Type, 2021 and 2030
    • 7.2 Invasive
      • 7.2.1 Global Blood Glucose Monitoring System Market by Invasive, 2022 – 2030 (USD Billion)
    • 7.3 Non-invasive
      • 7.3.1 Global Blood Glucose Monitoring System Market by Non-invasive, 2022 – 2030 (USD Billion)
  • Chapter 8. Global Blood Glucose Monitoring System Market – Patient Type Analysis
    • 8.1 Global Blood Glucose Monitoring System Market Overview: By Patient Type
      • 8.1.1 Global Blood Glucose Monitoring System Market Share, By Patient Type, 2021 and 2030
    • 8.2 Type 1 Diabetes
      • 8.2.1 Global Blood Glucose Monitoring System Market by Type 1 Diabetes, 2022 – 2030 (USD Billion)
    • 8.3 Type 2 Diabetes
      • 8.3.1 Global Blood Glucose Monitoring System Market by Type 2 Diabetes, 2022 – 2030 (USD Billion)
  • Chapter 9. Global Blood Glucose Monitoring System Market – Distribution Channel Analysis
    • 9.1 Global Blood Glucose Monitoring System Market Overview: By Distribution Channel
      • 9.1.1 Global Blood Glucose Monitoring System Market Share, By Distribution Channel, 2021 and 2030
    • 9.2 Retail Sales
      • 9.2.1 Global Blood Glucose Monitoring Systems Market by Retail Sales, 2022 – 2030 (USD Billion)
  • Chapter 10. Blood Glucose Monitoring System Market – Regional Analysis
    • 10.1 Global Blood Glucose Monitoring System Market Regional Overview
    • 10.2 Global Blood Glucose Monitoring System Market Share, by Region, 2021 & 2030 (USD Billion)
    • 10.3. North America
      • 10.3.1 North America Blood Glucose Monitoring System Market, 2022 – 2030 (USD Billion)
        • 10.3.1.1 North America Blood Glucose Monitoring System Market, by Country, 2022 – 2030 (USD Billion)
    • 10.4 North America Blood Glucose Monitoring System Market, by Device, 2022 – 2030
      • 10.4.1 North America Blood Glucose Monitoring System Market, by Device, 2022 – 2030 (USD Billion)
    • 10.5 North America Blood Glucose Monitoring System Market, by Modality, 2022 – 2030
      • 10.5.1 North America Blood Glucose Monitoring System Market, by Modality, 2022 – 2030 (USD Billion)
    • 10.6 North America Blood Glucose Monitoring System Market, by Type, 2022 – 2030
      • 10.6.1 North America Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030 (USD Billion)
    • 10.7 North America Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030
      • 10.7.1 North America Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030 (USD Billion)
    • 10.8 North America Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030
      • 10.8.1 North America Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030 (USD Billion)
    • 10.9. Europe
      • 10.9.1 Europe Blood Glucose Monitoring Systems Market, 2022 – 2030 (USD Billion)
        • 10.9.1.1 Europe Blood Glucose Monitoring Systems Market, by Country, 2022 – 2030 (USD Billion)
    • 10.10 Europe Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030
      • 10.10.1 Europe Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030 (USD Billion)
    • 10.11 Europe Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030
      • 10.11.1 Europe Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030 (USD Billion)
    • 10.12 Europe Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030
      • 10.12.1 Europe Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030 (USD Billion)
    • 10.13 Europe Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030
      • 10.13.1 Europe Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030 (USD Billion)
    • 10.14 Europe Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030
      • 10.14.1 Europe Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030 (USD Billion)
    • 10.15. Asia Pacific
      • 10.15.1 Asia Pacific Blood Glucose Monitoring Systems Market, 2022 – 2030 (USD Billion)
        • 10.15.1.1 Asia Pacific Blood Glucose Monitoring Systems Market, by Country, 2022 – 2030 (USD Billion)
    • 10.16 Asia Pacific Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030
      • 10.16.1 Asia Pacific Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030 (USD Billion)
    • 10.17 Asia Pacific Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030
      • 10.17.1 Asia Pacific Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030 (USD Billion)
    • 10.18 Asia Pacific Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030
      • 10.18.1 Asia Pacific Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030 (USD Billion)
    • 10.19 Asia Pacific Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030
      • 10.19.1 Asia Pacific Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030 (USD Billion)
    • 10.20 Asia Pacific Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030
      • 10.20.1 Asia Pacific Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030 (USD Billion)
    • 10.21. Latin America
      • 10.21.1 Latin America Blood Glucose Monitoring Systems Market, 2022 – 2030 (USD Billion)
        • 10.21.1.1 Latin America Blood Glucose Monitoring Systems Market, by Country, 2022 – 2030 (USD Billion)
    • 10.22 Latin America Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030
      • 10.22.1 Latin America Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030 (USD Billion)
    • 10.23 Latin America Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030
      • 10.23.1 Latin America Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030 (USD Billion)
    • 10.24 Latin America Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030
      • 10.24.1 Latin America Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030 (USD Billion)
    • 10.25 Latin America Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030
      • 10.25.1 Latin America Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030 (USD Billion)
    • 10.26 Latin America Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030
      • 10.26.1 Latin America Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030 (USD Billion)
    • 10.27. The Middle East and Africa
      • 10.27.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, 2022 – 2030 (USD Billion)
        • 10.27.1.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Country, 2022 – 2030 (USD Billion)
    • 10.28 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030
      • 10.28.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Device, 2022 – 2030 (USD Billion)
    • 10.29 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030
      • 10.29.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Modality, 2022 – 2030 (USD Billion)
    • 10.30 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030
      • 10.30.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Type, 2022 – 2030 (USD Billion)
    • 10.31 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030
      • 10.31.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Patient Type, 2022 – 2030 (USD Billion)
    • 10.32 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030
      • 10.32.1 The Middle-East and Africa Blood Glucose Monitoring Systems Market, by Distribution Channel, 2022 – 2030 (USD Billion)
  • Chapter 11. Company Profiles
    • 11.1 Abbott Laboratories
      • 11.1.1 Overview
      • 11.1.2 Financials
      • 11.1.3 Product Portfolio
      • 11.1.4 Business Strategy
      • 11.1.5 Recent Developments
    • 11.2 Medtronic plc
      • 11.2.1 Overview
      • 11.2.2 Financials
      • 11.2.3 Product Portfolio
      • 11.2.4 Business Strategy
      • 11.2.5 Recent Developments
    • 11.3 F. Hoffmann-La Roche Ltd.
      • 11.3.1 Overview
      • 11.3.2 Financials
      • 11.3.3 Product Portfolio
      • 11.3.4 Business Strategy
      • 11.3.5 Recent Developments
    • 11.4 Ascensia Diabetes Care
      • 11.4.1 Overview
      • 11.4.2 Financials
      • 11.4.3 Product Portfolio
      • 11.4.4 Business Strategy
      • 11.4.5 Recent Developments
    • 11.5 Dexcom
      • 11.5.1 Overview
      • 11.5.2 Financials
      • 11.5.3 Product Portfolio
      • 11.5.4 Business Strategy
      • 11.5.5 Recent Developments
    • 11.7 Sanofi
      • 11.7.1 Overview
      • 11.7.2 Financials
      • 11.7.3 Product Portfolio
      • 11.7.4 Business Strategy
      • 11.7.5 Recent Developments
    • 11.8 Novo Nordisk
      • 11.8.1 Overview
      • 11.8.2 Financials
      • 11.8.3 Product Portfolio
      • 11.8.4 Business Strategy
      • 11.8.5 Recent Developments
    • 11.9 Insulet Corporation
      • 11.9.1 Overview
      • 11.9.2 Financials
      • 11.9.3 Product Portfolio
      • 11.9.4 Business Strategy
      • 11.9.5 Recent Developments
    • 11.10 Ypsomed Holdings
      • 11.10.1 Overview
      • 11.10.2 Financials
      • 11.10.3 Product Portfolio
      • 11.10.4 Business Strategy
      • 11.10.5 Recent Developments
    • 11.11 Glysens Incorporated
      • 11.11.1 Overview
      • 11.11.2 Financials
      • 11.11.3 Product Portfolio
      • 11.11.4 Business Strategy
      • 11.11.5 Recent Developments

List Of Figures

Figures No 1 to 29

List Of Tables

Tables No 1 to 127

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2028
  • Market revenue estimates and forecasts up to 2028, by technology
  • Market revenue estimates and forecasts up to 2028, by application
  • Market revenue estimates and forecasts up to 2028, by type
  • Market revenue estimates and forecasts up to 2028, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Key Players

  • Abbott Laboratories
  • Medtronic plc
  • Hoffmann-La Roche Ltd.
  • Ascensia Diabetes Care
  • Dexcom, Inc.
  • Sanofi
  • Novo Nordisk
  • Insulet Corporation
  • Ypsomed Holdings
  • Glysens Incorporated
  • Others

FAQs

“North America” region will lead the global Blood Glucose Monitoring System market during the forecast period 2022 to 2030.

The key players operating in the Blood Glucose Monitoring System market are Abbott Laboratories, Medtronic plc, F. Hoffmann-La Roche Ltd., Ascensia Diabetes Care, Dexcom, Inc., Sanofi, Novo Nordisk, Insulet Corporation, Ypsomed Holdings, Glysens Incorporated.

The global Blood Glucose Monitoring System market is expanding growth with a CAGR of approximately 10.1% during the forecast period (2022 to 2030).

The global Blood Glucose Monitoring System market size was valued at USD 15.94 Billion) in 2021 and it is projected to reach around USD 31.34 Billion by 2030.

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