Market Size of Self-Monitoring Blood Glucose Industry
| Study Period | 2018 - 2029 |
| Market Size (2024) | USD 14.56 Billion |
| Market Size (2029) | USD 19.70 Billion |
| CAGR (2024 - 2029) | 6.23 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Self-Monitoring Blood Glucose Market Analysis
The Self-Monitoring Blood Glucose Market size is estimated at USD 14.56 billion in 2024, and is expected to reach USD 19.70 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).
During the COVID-19 pandemic, hyperglycemia, caused by both stress and diabetes mellitus, could be present in patients in the intensive care unit or non-ICU patients. The maintenance of euglycemia was essential to decrease both morbidity and mortality. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe and improved inpatient glycemic outcomes and played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients. According to the article published by the American Association of Clinical Endocrinology in December 2022, the inpatient standard of care for glucose monitoring consisted of capillary glucose measurement using glucometers. COVID-19 treatment involved high doses of corticosteroids with subsequent hyperglycemia and the need for higher insulin doses to control glucose. This dosing required more frequent glucose monitoring with glucometer checks.
According to the International Diabetes Federation (IDF), the adult diabetes population in 2021 is approximately 537 million, and this number is going to increase by 643 million in 2030. The main diagnosis for diabetes patients is imbalances in blood glucose levels, which do not comply with the standard blood glucose levels. General lab diagnostic tests can only help physicians diagnose the disease. Patients with more fluctuations in glucose levels need to get it checked daily. Patients administering insulin need to check their blood glucose levels frequently, adjust their insulin doses, or change the medication if necessary.
Technological advancements in blood glucose meters, including cellular-connected devices that automatically upload SMBG data to secure cloud-based databases, allow for improved sharing and monitoring of SMBG data. Real-time monitoring of SMBG data presents opportunities to provide timely support to patients responding to abnormal SMBG recordings. Such diabetes remote monitoring programs can provide patients with poorly controlled diabetes additional support needed to improve critical outcomes, thereby enhancing the market prospects in the years to come.
