The worldwide blood glucose monitoring market is expanding rapidly as the prevalence or incidence of diabetes rises and blood glucose monitoring devices become more widely used. Furthermore, the global demand for self-monitoring blood glucose (SMBG) devices is likely to drive market expansion. Nevertheless, considerations such as the high cost and inadequate reimbursement of blood glucose monitoring devices, as well as rigorous rules for self-monitoring blood glucose devices, are predicted to have an impact. The worldwide blood glucose monitoring market is expanding rapidly as the prevalence or incidence of diabetes rises and blood glucose monitoring devices become more widely used. Furthermore, the global demand for self-monitoring blood glucose (SMBG) devices is likely to drive market expansion. Nevertheless, issues such as high blood glucose monitoring device costs and inadequate reimbursement, as well as rigorous rules for self-monitoring blood glucose devices, are projected to stifle growth in the worldwide blood glucose monitoring market.
According to Coherent Market Insights, the global Blood Glucose Monitoring Market was valued at US$ 18,466.3 Mn in 2021 and is forecast to reach a value of US$ 34,581.2 Mn by 2028 at a CAGR of 9.4% between 2022 and 2028.
Key Leaders in the Blood Glucose Monitoring Industry:
1. Senseonics
On February 2022, Senseonics expected to receive the agency’s sign-off—the diabetes technology developer has finally scored approval for its implanted continuous glucose monitor designed for long-term use.The Eversense E3 sensor can be used for up to six months, longer than any other CGM system currently on the market, and requires calibration only once per day with fingerstick blood draws, rather than the twice-a-day requirements of past models. On august 2020, Senseonics Holdings, Inc. implantable continuous glucose monitoring (CGM) systems for people with diabetes, announced the formation of a strategic partnership with Ascensia Diabetes Care (Ascensia), through a commercialization and collaboration agreement, which will make Ascensia the exclusive worldwide distributor of Senseonics’ Eversense® CGM systems. The company also announced a concurrent financing agreement with PHC Holdings Corporation, the parent company of Ascensia. In addition, Senseonics also announced a financing agreement with Masters Special Situations, LLC and affiliates thereof (“MSS”). Senseonics Holdings, Inc., a medical technology company, develops and commercializes continuous glucose monitoring (CGM) systems for people with diabetes in the United States, Europe, the Middle East, and Africa. The company has a collaboration agreement with the University Hospitals Accountable Care Organization. Senseonics Holdings, Inc. was founded in 1996 and is headquartered in Germantown, Maryland.
2. Medisana AG
Medisana Healthcare is a health, wellness and fitness company based out of Terrassa. Medisana Healthcare is headquartered in Terrassa, Catalonia, Spain. Founded in 1981.
3. Acon Laboratories Inc.
On March 19 Inverness Medical Innovations, Inc. , a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, announced today that it has entered into a definitive agreement with ACON Laboratories, Inc. and certain affiliates to acquire ACON's world-wide business of researching, developing, manufacturing, marketing and selling lateral flow immunoassay diagnostic test kits for the consumer, point-of-care and laboratory markets. The company was founded in 1996 and is headquartered in San Diego, California. Its manufacturing facility is located in Hangzhou, China. ACON Laboratories is a biotechnology firm that offers medical diagnostic and healthcare products. It makes Point-of-care medical diagnostics affordable to people all around the world. It provides rapid diagnostics and healthcare products based on a philosophy of high quality, affordability, and superior flexibility.
4. Bionime Corporation
Bionime Corporation designs, manufactures, and sells medical instruments in China, Switzerland, the United States, Algeria, Egypt, and internationally. The company offers blood glucose monitors, as well as accessories, such as test strips and lancing devices medical equipment companies, pharmacies, and hospitals. It is also involved in the provision of biotechnology services; examining of pharmaceuticals; and selling of precision instruments. The company was incorporated in 2003 and is based in Taichung, Taiwan. Bionime Corporation to Launch the Rightest iFree CGM, Proposed to Offer Precise and Accurate Blood Glucose Measurement and Monitoring, declared on 11/01/2022. Published on 12 September 2022 With MySQL HeatWave on AWS, Bionime has seen gains of 50X faster resolution of complex queries compared to AWS RDS. The high-performance data platform improves scalability, adding more data with less administration and generating real-time analytics to accelerate application development. The modern data platform of MySQL HeatWave is helping Bionime to launch its next-generation product, Continuous Glucose Monitoring, with more accurate, real-time reporting to improve patient’s lives.
5. AgaMatrix Inc.
AgaMatrix develops and manufactures a line of diabetes products designed to improve the quality of diabetes care. The company’s products feature WaveSense, a new technology that personalizes each test to provide world class accuracy. It detects and corrects for many errors caused by differences in blood samples and environmental conditions. Zero-Click™, the WaveSense diabetes data management system, was designed to simplify data download. The company is headquartered in Hampshire, U.S. founded in 2001. On July 3, 2019 AgaMatrix, Inc. and WaveForm Technologies, Inc. ("WaveForm"), wholly owned subsidiaries of AgaMatrix Holdings LLC, announced that it closed on a total capital raise of $56 million.
6. Ascensia Diabetes Care
Ascensia Diabetes Care is a global company dedicated to improving the lives of people with diabetes and helping empower them to take charge of their health and happiness. The company is acquired in PHC holdings. Founded in 2016, headquartered in Switzerland.
7. Medtronic PLC
Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. The company was founded in 1949 and is headquartered in Dublin, Ireland. On Oct. 24, 2022 Medtronic plc, a global leader in healthcare technology, today announced its intention to pursue a separation of the company's combined Patient Monitoring and Respiratory Interventions businesses ("NewCo"), which are part of the company's Medical Surgical Portfolio.
8. DexCom Inc.
DexCom, Inc., a medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally. DexCom, Inc. has a collaboration and license agreement with Verily Life Sciences LLC and Verily Ireland Limited to develop blood-based or interstitial glucose monitoring products. The company markets its products directly to endocrinologists, physicians, and diabetes educators. DexCom, Inc. was incorporated in 1999 and is headquartered in San Diego, California. DexCom, Inc. Announced Acquisition of SweetSpot Diabetes Care, Inc. on February 23, 2012
9. Roche Diagnostics
Roche Holding AG engages in the pharmaceuticals and diagnostics businesses in Switzerland, Germany, the United States, and internationally. It has a research collaboration agreement with Synlogic, Inc. for the discovery of a novel synthetic biotic for the treatment of inflammatory bowel disease (IBD). Roche Holding AG was founded in 1896 and is headquartered in Basel, Switzerland. On 11 MARCH 2021 Roche has announced the launch of the new Accu-Chek Instant system, a new "connected" blood glucose monitoring (BGM) system, which supports and enables Roche’s approach of integrated Personalised Diabetes Management (iPDM). On January 2022, Roche launched smart, hand held glucose meter for the hospital bedside.
10. Trivida Functional Medicine
Trivida has been recognized as a leader in Colorado for providing a medically guided weight loss solution. Trivida offers an online platform that enables its customers to find articles and schedule medical appointments. It also facilitates online customized workout programs. Trivida was founded by Bradley Allen and Peter Price in 2013. It is based in Aurora, Colorado.
11. Rossmax International Ltd.
Rossmax International Ltd. engages in the development and supply of healthcare products and solutions in Taiwan. Rossmax International Ltd. was incorporated in 1988 and is based in Taipei, Taiwan.
*Defintion-The use of a glucose metre to assess the levels of glucose in the blood is known as blood glucose monitoring. Diabetes management relies heavily on self-monitoring blood glucose (SMBG) equipment. Continuous glucose monitoring systems, on the other hand, track blood glucose levels, commonly known as blood sugar, throughout the day and night.
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