PUBLISHER: The Business Research Company | PRODUCT CODE: 1675524
PUBLISHER: The Business Research Company | PRODUCT CODE: 1675524
A glucometer, also known as a glucose meter, is a medical instrument used to estimate glucose levels in the blood. This compact and portable device measures blood glucose levels, commonly utilized by individuals with diabetes to aid in disease management.
The primary glucometers come in two main types: continuous glucose monitoring devices and self-monitoring blood glucose systems. Continuous glucose monitoring devices are medical instruments automatically monitored throughout the day and night. These devices employ various techniques, both invasive and non-invasive, and are distributed through institutional sales, hospitals, clinics, retail sales, hospital pharmacies, retail pharmacies, and online pharmacies.
The glucometer market research report is one of a series of new reports from The Business Research Company that provides glucometer market statistics, including the glucometer industry's global market size, regional shares, competitors with a glucometer market share, detailed glucometer market segments, market trends and opportunities, and any further data you may need to thrive in the glucometer industry. This glucometer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The glucometer market size has grown strongly in recent years. It will grow from $14.15 billion in 2024 to $15.51 billion in 2025 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to insurance coverage, consumer education, healthcare industry integration, healthcare awareness programs.
The glucometer market size is expected to see rapid growth in the next few years. It will grow to $24.46 billion in 2029 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to the rising prevalence of diabetes, increasing healthcare infrastructure expenditure, growing geriatric population, increasing demand for self-monitoring devices. Major trends in the forecast period include artificial intelligence in healthcare, remote monitoring and telehealth, advancements in technology, and increasing collaboration.
The rising prevalence of diabetes is fueling the demand for the glucometer market moving forward. Diabetes is a chronic metabolic disorder characterized by elevated blood glucose (or blood sugar) levels, which can cause significant damage to the heart, blood vessels, eyes, kidneys, and nerves over time. Individuals with diabetes utilize glucometers to monitor their blood glucose levels. Consequently, as diabetes rates increase, the demand for glucometers is also on the rise. For instance, the International Diabetes Federation, a US-based umbrella organization representing over 230 national diabetes associations across 170 countries, reports that approximately 537 million adults (aged 20-79) worldwide were living with diabetes. This number is expected to grow to 643 million by 2030 and 783 million by 2045. Therefore, the increase in diabetes prevalence is driving the glucometer market.
The glucometer market is expected to witness growth driven by the increasing aging population. Glucometers are utilized by the aging population to monitor and manage blood glucose levels at home, facilitating proactive diabetes management. As of August 2023, Eurostat reported a rising median age in the EU, reaching 44.4 years in January 2022. With approximately 21.1% of the EU population aged 65 or older in 2022, the aging population significantly contributes to the growth of the glucometer market.
Product innovation is a key trend in the glucometer market, with major companies introducing various products to maintain their market position. For example, in January 2022, Roche, a Switzerland-based healthcare company, introduced a new point-of-care blood glucose monitor for hospital staff, along with a companion device resembling a touchscreen smartphone. The portable Cobas pulse device features a touchscreen, camera, and automated glucose test strip reader, with a hardened body that can be disinfected and used for logging other diagnostic data.
Leading companies in the glucometer market are prioritizing the development of built-in cellular technology to improve real-time data transmission and enable remote monitoring. Built-in cellular technology involves embedding cellular communication capabilities directly within a device, allowing it to connect to mobile networks without additional modules or external devices. For example, in May 2024, Smart Meter, a US-based monitoring device company, introduced iGlucose Plus for enhanced diabetes management. This technology enables devices to transmit and receive data over cellular networks, similar to smartphones, providing timely access to health data, boosting patient engagement, and enabling healthcare providers to monitor and manage patients' glucose levels more effectively. This advancement ultimately contributes to better health outcomes and more personalized care.
In February 2022, Sorrento, a San Diego-based healthcare company, acquired Virex Health for an undisclosed amount. Through this acquisition, Sorrento gains access to Virex's patented technology, which employs enzymatic and electrochemical amplification to detect biological analytes such as SARS-CoV-2, Flu A/B, and indicators for liver cancer, inflammation, and hormone monitoring. Virex Health is a US-based company specializing in the development of glucometers.
Major companies operating in the glucometer market include Johnson & Johnson Services Inc., Bayer AG, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Medtronic plc., Arkray Inc., B Braun Melsungen AG, Omron Corporation, Terumo Corporation, Nipro Corporation, Dexcom Inc., Bionime Corporation, LifeScan Inc., NOVA Biomedical, Sinocare Inc., TaiDoc Technology Corporation, i-SENS Inc., EKF Diagnostics Holdings plc, ForaCare Inc., LabStyle Innovations Corp., Acon Laboratories Inc., Ascensia Diabetes Care Holdings AG, Omnis Health LLC, Entra Health Systems LLC, Hainice Medical Inc., PTS Diagnostics, Ypsomed AG, WaveForm Technologies Inc., Medtrum Health Inc., Cellnovo Group
North America was the largest region in the glucometer market in 2024. The regions covered in the glucometer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the glucometer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The glucometer market consists of the sale of testing strips, lancing pens, lancets. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Glucometer Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on glucometer market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for glucometer ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The glucometer market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.