Market Size of South Korea Self-Monitoring Blood Glucose Devices Industry
| Study Period | 2019- 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 7.32 Million |
| Market Size (2029) | USD 9.26 Million |
| CAGR (2024 - 2029) | 1.90 % |
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?
South Korea Self-Monitoring Blood Glucose Devices Market Analysis
The South Korea Self-Monitoring Blood Glucose Devices Market size is estimated at USD 7.32 million in 2024, and is expected to reach USD 9.26 million by 2029, growing at a CAGR of 1.9% during the forecast period (2024-2029).
Various studies have shown that diabetes was one of the major comorbidities associated with the development of severe COVID-19-related adverse outcomes and mortality. Adults living with diabetes who contracted COVID-19 were at higher risk of developing adult respiratory distress syndrome, pneumonia, excessive uncontrolled inflammation responses, and a hypercoagulable state. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe, improved inpatient glycemic outcomes, and played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients.
Continued elevation in blood glucose levels in diabetes patients can contribute to progressive complications such as renal, nerve, and ocular damage. The measurement of blood glucose helps in determining the effectiveness of blood glucose metabolism and guides in achieving optimal glucose control within the body. Over time, the readings provide the patient and their health professionals with the information required to determine the best management strategy for diabetes. Appropriate and timely monitoring of blood glucose allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications.
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 who are responsive to abnormal SMBG recordings. Such advantages can provide patients with poorly controlled T2D with the additional support needed to improve critical outcomes, thereby enhancing the market's prospects in the years to come.
