BGMS (Blood Glucose Monitoring System) Market was valued at USD 9.0 Billion in 2022 and is projected to reach USD 15.0 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
From 2023 to 2033, the BGMS market is poised for even more remarkable growth. The increasing prevalence of diabetes, particularly in emerging markets, combined with advancements in digital health, will propel demand for BGMS devices. Market forecasts predict that the BGMS market will reach a value of USD 30 billion by 2033, with significant contributions from both wearable and implantable CGM systems. Emerging regions like India and China are expected to contribute heavily to this demand, as the need for affordable and accessible diabetes management solutions grows.
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The Blood Glucose Monitoring System (BGMS) market has seen significant advancements from 2018 to 2022. The rise in diabetes prevalence worldwide, coupled with increasing health awareness, contributed to the expansion of this market. During these years, the demand for continuous glucose monitoring (CGM) systems surged, driven by technological innovations and growing adoption among patients and healthcare providers. In 2020, the global market for BGMS was valued at approximately USD 12.8 billion, with a strong focus on non-invasive glucose monitoring technologies. As a result, the market experienced steady growth, with significant developments in smartphone-integrated BGMS solutions and wireless technology.
Roche
Lifescan
Abbott
All Medicus
Terumo
Ascensia (Bayer)
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global BGMS (Blood Glucose Monitoring System) Market
Type 2 Diabetes
Type 1 Diabetes
Based on Types the Market is categorized into Below types that held the largest BGMS (Blood Glucose Monitoring System) market share In 2023.
Blood Glucose meters
Testing strips
Lancets & Lancing Devices
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global BGMS (Blood Glucose Monitoring System) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global BGMS (Blood Glucose Monitoring System) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global BGMS (Blood Glucose Monitoring System) Market, By Type
6. Global BGMS (Blood Glucose Monitoring System) Market, By Application
7. Global BGMS (Blood Glucose Monitoring System) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global BGMS (Blood Glucose Monitoring System) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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