The Global Self-Monitoring Blood Glucose Device Market is projected to reach approximately US$ 21.05 billion by 2032, with a compound annual growth rate (CAGR) of 6.76% from 2024 to 2032, according to Renub Research. In 2023, the market was valued at US$ 11.68 billion.
Self-monitoring of blood glucose (SMBG) involves diabetics testing their blood sugar levels at home. This practice helps individuals manage their diabetes and adjust their treatment regimens. SMBG aids in identifying the most effective foods or diets for diabetes control and informs patients and doctors about the effectiveness of treatment plans. It is also crucial for managing blood glucose levels before engaging in potentially hazardous activities, such as driving or operating heavy machinery.
Key Trends in the Global Self-Monitoring Blood Glucose Device Market
- Rising Diabetes Prevalence Worldwide Diabetes is among the most widespread chronic illnesses, with 5–10% of cases being type 1 and 90–95% being type 2, according to the Centers for Disease Control. Despite type 2 diabetes being preventable through healthy lifestyle choices, the International Diabetes Federation’s Diabetes Atlas reported that the number of people with diabetes rose by 27.2% between 2014 and 2021, reaching approximately 537 million people.
- Increase in Obesity Obesity is a significant risk factor for type 2 diabetes. The World Health Organization (WHO) reports that obesity-related diabetes could triple to 300 million cases by 2025. Urbanization and modernization contribute to unhealthy diets, lack of exercise, and stress, leading to obesity and increased diabetes risk.
- Technological Advancements Advances in blood glucose meters, including miniaturization, smartphone integration, continuous monitoring, and AI analytics, are driving the market’s growth. These innovations improve accuracy, mobility, and connectivity, offering better diabetes management. Companies in the sector are forming alliances, partnerships, mergers, and acquisitions to strengthen their market positions.
- In January 2023, LifeScan announced that its research on improved glycemic control using Bluetooth-connected blood glucose meters and mobile diabetes apps was published in the Journal of Diabetes Science and Technology. The study analyzed data from over 144,000 people with diabetes.
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United States Self-Monitoring Blood Glucose Device Market
The United States is expected to see significant growth in the global SMBG device market due to rising diabetes cases. According to the American Presidency Project, over 10% of Americans have some form of diabetes, with millions more at risk. New trends include the integration of smartphone apps, wearable glucose monitoring devices, and artificial intelligence for enhanced user experiences.
- In June 2023, Know Labs planned to launch the first commercially available non-invasive glucose monitor, with its Generation 1 device connected to a smartphone app. The company also plans to release a wearable wristband for continuous monitoring.
Company News
Major companies in the global SMBG device market include Abbott Laboratories, Medtronic, Dexcom, B. Braun Melsungen AG, DarioHealth Corp, Sanofi, Bionime Corporation, and Novo Nordisk.
- DarioHealth Corp announced a new smart blood sugar meter designed for Apple iPhone 15 users in November 2023.
- Astellas Pharma Inc. partnered with Roche Diabetes Care Japan Co., Ltd. in March 2023 to develop and market the Accu-Chek® Guide Me blood glucose monitoring system, integrated with BlueStar®, a digital health solution for diabetes management.
- i-Sens Inc. acquired AgaMatrix, a U.S.-based manufacturer of blood glucose monitoring devices, in May 2023.
- Ascensia Diabetes Care Holdings AG partnered with SNAQ in February 2023 to develop a mobile application providing nutritional insights for people with diabetes.
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