Press release
Glucose Monitoring Devices Market: Trends, Growth, and Forecast 2024-2031
Glucose Monitoring Devices Market - DataM Intelligence
Glucose Monitoring Devices market is estimated to grow at a CAGR of 10.5% during the forecast period 2024-2031
A glucose meter, also referred to as a glucometer, is a compact device that measures the concentration of glucose in a blood sample. Typically, a small drop of blood obtained from a finger prick is enough for a test strip. The fingertip can be pricked using a specific needle, known as a lancet, or a spring-loaded device designed for quick and minimal discomfort.
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Glucose Monitoring Devices Market Trends
The market growth in the forecast period is expected to be driven by technological advancements in glucose monitoring devices.
Diabetes technology encompasses the hardware, devices, and software used by individuals with diabetes to manage their blood glucose levels, prevent diabetes complications, reduce the burden of living with diabetes, and enhance their quality of life. Traditionally, diabetes technology has been divided into two categories: insulin delivery via syringe, pen, or pump, and blood glucose monitoring via a meter or continuous glucose monitor.
Recently, diabetes technology has evolved to include hybrid devices that both monitor glucose levels and deliver insulin, some of which are automated, and software that functions as a medical device and aids in diabetes self-management. The most recent method of blood glucose monitoring is Continuous Glucose Monitoring (CGM). Patients can purchase FDA-approved devices that use single-use disposable electrochemical sensor elements that can be worn for 72 hours to 7 days, depending on the model.
In January 2020, Tandem Diabetes Care launched the t:slim X2 insulin pump with Control-IQ technology. This technology combines the Dexcom G6 CGM with an insulin pump to regulate insulin levels with minimal user intervention. It's the first technology to automatically regulate basal (background) insulin levels and administer bolus (mealtime) doses to prevent blood sugar levels from dropping too low or rising too high.
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Market Segmentation
By Device Type
Self-Monitoring
Continuous Wearable Devices
By End-User
Hospitals
Clinics and Diagnostic centers
Home Setting
Ambulatory Settings
Market Key Players
Major players are Abbott Laboratories, Medtronic plc, F. Hoffmann-La Roche Ltd., Lifescan, Inc., Sanofi, B Braun Melsungen AG, Dexcom, Senseonics, Novabiomedical and Omnis Health.
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