The global blood glucose monitoring market is estimated to be valued at USD 18.85 Bn in 2024 and is expected to exhibit a CAGR of 10.2% during the forecast period (2024-2031). Blood glucose monitoring is crucial for managing diabetes as it helps patients monitor their blood sugar levels and take corrective measures on a regular basis. Easy availability and affordability of self-monitoring devices along with growing awareness about diabetes care have been driving the greater adoption of blood glucose monitoring solutions globally. In addition, technological advancements leading to the development of innovative monitoring devices with enhanced features for accuracy, convenience, and connectivity are expected to further propel the market growth in the coming years.
Market Dynamics:
The global blood glucose monitoring market has been witnessing steady growth attributed to rising diabetic population worldwide coupled with growing focus on diabetes management. Various factors, such as increasing prevalence of obesity and sedentary lifestyles, are contributing to the diabetes burden globally, which, in turn, is driving the adoption of blood glucose monitoring devices. Additionally, the development of user-friendly and affordable monitoring solutions along with favorable reimbursement policies in developed regions are encouraging the greater uptake of self-monitoring devices. However, high costs associated with advanced blood glucose monitors remains a key challenge, especially in developing countries. Moreover, vulnerabilities to cyber threats and data breaches could hamper the transition towards connected monitoring devices. Nonetheless, ongoing technological upgrades including the development of minimally invasive continuous glucose monitoring systems presents bright prospects for market players.
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*Browse 24 market data tables and 28 figures on "Blood Glucose Monitoring Market” - Global forecast to 2031
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