The Blood Glucose Monitoring Devices Market Size by Product Type, by Conventional Blood Glucose Monitoring (BGM) Devices, by Continuous Glucose Monitoring (CGM) Devices, by Usage Distribution Channel, and by End-Users

Global Blood Glucose Monitoring Devices Market - Focused Insights 2024-2029

GLOBAL BLOOD GLUCOSE MONITORING DEVICES MARKET SIZE

The global blood glucose monitoring devices market was valued at USD 25.62 billion in 2023 and is expected to reach USD 52.46 billion by 2029, growing at a robust CAGR of 12.69% during the forecast period. This substantial growth is primarily driven by the escalating global burden of diabetes, rising obesity rates, increased awareness of health and wellness, and a growing elderly population vulnerable to chronic conditions. Technological advancements and the increasing adoption of self-care practices are significantly fueling the self-monitoring blood glucose device market as patients take a more proactive role in managing their health.

Blood glucose monitoring devices (BGMs), including conventional blood glucose monitors and continuous glucose monitors (CGMs), play a critical role in diabetes management. These tools provide real-time or near-real-time insights into blood glucose levels, allowing individuals and healthcare providers to personalize treatment strategies and avoid complications.

BLOOD GLUCOSE MONITORING DEVICES MARKET TRENDS & DRIVERS

Continuous Innovation in Glucose Monitoring Technology

The blood glucose monitoring market is undergoing a transformative shift with the introduction of next-generation technologies. Among these, optical sensing and non-invasive glucose monitoring methods are gaining traction. These solutions aim to eliminate the discomfort of finger pricking and improve patient compliance. The development of sensors capable of detecting glucose using light-based measurements has created new opportunities, making monitoring more seamless and user-friendly.

Rising Popularity of Flash Glucose Monitoring (FGM)

Flash glucose monitoring, a subset of CGM, is emerging as a pivotal trend. Unlike traditional methods, FGM systems offer users the convenience of checking glucose levels at any time without constant calibration. Their ability to provide 24-hour data with minimal intrusion is positioning them as a preferred choice, especially among younger, tech-savvy diabetic patients. Clinical evidence supports FGM’s ability to reduce hyperglycemic and hypoglycemic events, further accelerating its adoption.

Government and Public Health Initiatives Supporting Growth

Governments worldwide are implementing programs to combat the rising tide of diabetes and improve disease management. From the WHO's Global Diabetes Compact to national campaigns such as India’s NPCDCS, public health authorities are promoting early diagnosis, prevention, and the widespread use of self-monitoring blood glucose devices. These initiatives enhance access to BGM technologies, particularly in low-resource settings, driving both awareness and demand.

BLOOD GLUCOSE MONITORING DEVICES MARKET SEGMENT INSIGHTS

By Product Type

The global blood glucose monitoring devices market are segmented into conventional blood glucose monitoring devices (including test strips, lancets, and meters) and continuous glucose monitoring (CGM) devices (including sensors and reusable hardware). Despite the growing popularity of CGMs, conventional BGMs continue to dominate with the largest market share of 70%, due to their cost-effectiveness, user familiarity, and accessibility—especially in low- and middle-income countries. The affordability and simplicity of conventional BGMs make them indispensable in the glucose monitoring devices market.

By Usage

Personal BGM devices represent the fastest-growing segment, as individuals increasingly adopt self-monitoring routines. Particularly among Type 1 diabetics, frequent monitoring is essential for insulin dosage management. The proliferation of smartphone-compatible meters and apps is also contributing to the growth of self-monitoring blood glucose device market, supporting patient empowerment and reducing dependency on clinical visits.

By Distribution Channel

Offline channels, including hospital pharmacies, independent drug stores, and wellness retailers, continue to lead distribution. These outlets serve as the first point of access for diabetes patients across developed and emerging markets. However, the rise of e-commerce and online pharmacies is expected to gain momentum as digital health ecosystems expand.

By End-user

Individual users dominate the end-user segment, driven by the trend toward home-based health management. In many regions, limited healthcare infrastructure and high diagnostic costs make self-monitoring the most viable option. Reimbursement support and insurance coverage in developed countries further encourage personal adoption of BGM devices.

GEOGRAPHICAL ANALYSIS

North America holds the largest blood glucose monitoring devices market share, accounting for over 44% in 2023. The region benefits from strong healthcare infrastructure, high diabetes prevalence, and widespread insurance coverage for glucose monitoring technologies. Additionally, early adoption of digital health tools and continuous product innovation contribute to North America's market dominance.

VENDOR LANDSCAPE

The global glucose monitoring devices market is highly fragmented yet dynamic, with leading companies such as Abbott, Medtronic, Dexcom, F. Hoffmann-La Roche, and LifeScan spearheading innovation. These firms invest heavily in R&D to refine sensor technology, enhance user interfaces, and expand non-invasive monitoring capabilities. Startups and smaller firms are also entering the space with disruptive technologies, especially in the wearable and AI-integrated device segments, increasing competition and diversification within the market.

Recent Vendor Activities

1. In 2024, MTD Group acquired the pen needle and blood glucose monitoring systems of Ypsomed, as well as announced significant investment for its European product sites.
2. In 2023, Abbott acquired Bigfoot Biomedical- one of the leading smart insulin management system manufacturing companies. This transaction helped Abbott increase its presence in diabetes care by strengthening its FreeStyle Libre CGM Technology. 
3. In 2023, Medtronic entered into a set of definitive agreement to acquire EoFlow Co. Ltd., a pioneer in insulin delivery devices. Medtronic’s meal detection technology algorithm and next-generation CGM are expected to expand the company’s ability to deliver diabetes care solutions.
4. In 2022, Abbott collaborated with Sugar.fit, BeatO, Zyla Health, 1MG, PharmEasy, GOQii, Helthifyme, and Fitterfly to expand access to diabetes management care. Through this collaboration, Abbott aims to offer glucose monitoring solutions to around 8 billion people with diabetes. More than 6.5 billion people receive these solutions through PharmEasy and 1MG.
5. In 2022, embecta and Intuity Medical made a commercial collaboration to promote POGO -Automatic Blood Glucose Monitoring systems to medical professionals across the US.
6. In 2020, One Drop, a diabetes management company, acquired assets, IP, and certain Staff of Sano Intelligence who manufactured non-invasive connected CGM Patch.

Product Launched & Development

1. In Jun 2024, Prevounce Health launched a technologically advanced and cellular-connected blood glucose meter for remote patient monitoring. It is a rigorously tested and FDA-approved device widely available in the US and global markets.
2. In Jun 2024, the US FDA approved Abbott’s two over-the-counter continuous glucose monitoring devices, Libre Rio and Lingo, used by more than 6 million globally.
3. In May 2024, Smart Meter launched an iGlucose Plus glucose monitoring device globally. It is a handheld device connected to a smartphone and Wi-Fi systems.
4. In Feb 2024, Dexcom launched Dexcom ONE+, a real-time and customized glucose monitoring device that can be worn in three different body locations. Furthermore, it has a water-resistant sensor that enhances its brand image.
5. In Feb 2024, Know Labs launched KnowU –a wearable and non-invasive continuous glucose monitoring device with onboard computing power and machine learning technologies.
6. In Jan 2022, Roche launched a smart, handheld, and point-of-care blood glucose monitor device for the hospital’s bedside use.