BGMS (Blood Glucose Monitoring System) Market Size by Deployment, by Applications, by Type, by End-User & by Technology 2032
Global BGMS (Blood Glucose Monitoring System) Market was valued at USD 1.2 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 8.0% from 2024 to 2030.
The BGMS (Blood Glucose Monitoring System) market is experiencing a significant rise, driven by the increasing prevalence of diabetes worldwide and the growing demand for real-time, accurate blood glucose measurements. These systems, which enable individuals to track their blood sugar levels at home, are becoming increasingly sophisticated, with advanced features like continuous glucose monitoring (CGM), mobile app connectivity, and more. The global diabetes epidemic, coupled with rising health awareness, has placed BGMS at the forefront of healthcare solutions in the last few years.
According to recent studies, the global BGMS market size is expected to witness substantial growth in the coming years. In 2023 alone, the market was valued at over $10 billion and is forecasted to reach over $15 billion by 2028. This growth is driven not only by the rise in diabetes cases but also by the growing adoption of wearable technologies. Continuous Glucose Monitors (CGMs) and smart glucose meters are gaining traction among individuals who want to maintain their health while managing diabetes more effectively.
One of the key factors contributing to this growth is the increasing preference for minimally invasive monitoring devices. Traditional glucose meters required fingerstick testing, which was not only painful but also inconvenient. New technologies now allow for non-invasive or less invasive testing methods, making it easier for users to manage their condition with minimal disruption to their daily lives.
Regionally, North America leads the BGMS market, driven by the high awareness of diabetes management and the presence of advanced healthcare infrastructure. However, markets in Asia-Pacific are rapidly expanding, with countries like China and India witnessing increased demand for BGMS due to the rising number of diabetes patients and improved healthcare access.
Despite the market's expansion, challenges remain. High costs of advanced BGMS devices, insurance coverage issues, and a lack of widespread accessibility in certain regions can be barriers to broader adoption. Manufacturers are actively addressing these issues by introducing more affordable devices without compromising on accuracy or reliability.
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Who are the largest Global manufacturers in the BGMS (Blood Glucose Monitoring System) industry?
- Roche
- Lifescan
- Abbott
- All Medicus
- Terumo
- Ascensia (Bayer)
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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What are the factors driving the growth of the Global BGMS (Blood Glucose Monitoring System) Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Global BGMS (Blood Glucose Monitoring System) Market
- Type 2 Diabetes
- Type 1 Diabetes
What are the types of BGMS (Blood Glucose Monitoring System) available in the Market?
Based on Types the Market is categorized into Below types that held the largest BGMS (Blood Glucose Monitoring System) market share In 2023.
- Blood Glucose meters
- Testing strips
- Lancets & Lancing Devices
Which regions are leading the Global BGMS (Blood Glucose Monitoring System) Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global BGMS (Blood Glucose Monitoring System) Market Research Report, 2024-2032
1. Introduction of the Global BGMS (Blood Glucose Monitoring System) Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global BGMS (Blood Glucose Monitoring System) Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global BGMS (Blood Glucose Monitoring System) Market, By Type
6. Global BGMS (Blood Glucose Monitoring System) Market, By Application
7. Global BGMS (Blood Glucose Monitoring System) Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global BGMS (Blood Glucose Monitoring System) Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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