Global Self-Monitoring Blood Glucose (SMBG) Devices Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Blood Glucose Meters, Testing Strips, Lancets & Lancing Devices), By Indication (Type I Diabetes, Type II Diabetes, Gestational Diabetes), By End Users (Hospitals And Clinics, Ambulatory Care Settings, Diagnostic Centres, Home Care Settings), And By Geography - Forecasts From 2022 To 2027

  • Published : Mar 2022
  • Report Code : KSI061612026
  • Pages : 102

The global self-monitoring blood glucose (SMBG) device market is expected to reach a market size worth US$15.013 billion by 2027, growing at a CAGR of 6.39%. This market was valued at US$9.731 billion in 2020.

A self-monitoring blood glucose device is used to measure the blood glucose to monitor a person's glucose level. Both high and low blood glucose has the potential to cause a severe impact on the human body and hence require regular checks. Diabetes is a widely prevailing insulin or blood glucose chronic disease that results in disturbance in insulin production in the body and hence harms the body. The rising cases of diabetes owing to complex and stressful lifestyles and work culture that disturbs a persons’ dietary intake creates the requirement of recurring checks of insulin level in the body, especially for those suffering from the disease. Self-Monitoring blood glucose (SMBG) devices are portable, faster, result-yielding devices that provide the glucose level in the blood within a few minutes and hence have witnessed a wider adoption for monitoring glucose. Technological advancement in the market also plays a vital role in encouraging market growth. Furthermore, increasing healthcare expenditure is also expected to drive the market.

Geographically, the global self-monitoring blood glucose (SMBG) device market is divided into North America, South America, Europe, the Middle East, Africa, and the Asia Pacific regions for the study. The Asia Pacific self-monitoring blood glucose device market is expected to grow at a lucrative rate during the forecasted period. The rise in cases of chronic diseases in the region has significantly increased the cases of diabetes, which has surged the adoption of self-monitoring blood glucose devices. Rising disposable income and increasing expenditure on healthcare in the region are also expected to drive the market during the forecast period. The North American and European self-monitoring blood glucose device markets are projected to hold a large market share.

Testing strips are small; one-time-use strips cost significantly and are expected to account for a large share of the market.

Based on product type, the global self-monitoring blood glucose device market is segmented into blood glucose meters, testing strips, and lancets & lancing devices. Blood glucose meters are electronic devices that calculate and display blood glucose levels using the sample of blood drops injected through a testing strip and hence have a significant share of the market. Testing strips, on the other hand, are disposable, one-time-use strips on which blood is placed so that it can be injected into the blood glucose meter. Since testing strips are single-use, they account for a large market share in terms of quantity. Furthermore, owing to significant costs, the market value share is also notable for these strips. Hence, it is anticipated that testing strips will dominate the market for global self-monitoring blood glucose devices.

Growth Factor

  • Growing cases of diabetes owing to lifestyle complexities and inaccurate dietary intake has increased the market for global self-monitoring blood glucose device.

Diabetes has been emerging as a problematic chronic disease causing a great threat to life. The World Health Organization reports that around 1.5 million people died due to diabetes in 2019, while many were severely impacted by it.  Diabetes Research Institute reports that in the US, approximately 34.2 million people have diabetes, accounting for 10.5% of the population. Of these, only 10.2% of the population, or 26.8 million people, were diagnosed with diabetes, while 7.3 million people go undiagnosed. The disease was also diagnosed in children in the state, with 210,000 children and adolescents who have diabetes. Increasing cases of diabetes are expected to increase the market adoption of self-monitoring blood glucose devices during the forecast period.

Market Restraints

  • The significant cost of self-monitoring blood glucose devices has the potential to hinder market growth.

One of the prime constraints facing the market for the self-monitoring blood glucose device market is the significant cost of the device. Self-monitoring blood glucose device involves blood glucose meters, testing strips, and lancets & lancing devices. The initial cost of this device is significant. Furthermore, the device has a recurring cost of testing strips since these strips are single-use strips and can not be reused. The notable cost of such a device has the potential to constrain the market in lower-middle and lower-income countries.

Covid-19 Insights

With the widespread of the COVID-19 virus, patients were reluctant to visit hospitals or laboratory centers for their blood glucose checkups for fear of contracting the virus. Home visits were also avoided until the case of an emergency owing to widespread fear. Furthermore, any laboratories conducting the COVID-19 test temporarily discontinued other testing services for better containment. However, patients with diabetes require regular monitoring. Therefore, a rise in self-monitoring blood glucose device sales was observed in the home care setting segment. Hence the COVID-19 pandemic supported the market growth.

Global Self-Monitoring Blood Glucose (SMBG) Devices Market Scope:

Report Metric Details
 Market size value in 2020  US$9.731 billion
 Market size value in 2027  US$15.013 billion
 Growth Rate  CAGR of 6.39% from 2020 to 2027
 Base year  2020
 Forecast period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Indication, End Users, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered Abbott, Hoffmann-La Roche Ltd., Lifescan Inc., Bayer Corporation, ARKRAY, Inc., B. Braun Melsungen AG, Sanofi, Ypsomed AG, Bionime Corporation, Ascensia Diabetes Care Holdings AG
 Customization scope  Free report customization with purchase

 

Key Market Segments

  • By Type
    • Blood Glucose Meters
    • Testing Strips
    • Lancets & Lancing Devices
  • By Indication
    • Type 1 Diabetes
    • Type 2 Diabetes
    • Gestational Diabetes
  • By End Users
    • Hospitals and Clinics
    • Ambulatory Care Setting
    • Diagnostic Centers
    • Home Care Setting
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • United Kingdom
      • Germany
      • Spain
      • France
      • Others
    • Middle East and Africa
      • UAE
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Taiwan
      • Thailand
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the self-monitoring blood glucose (SMBG) device market size by 2026?
A1. The self-monitoring blood glucose (SMBG) device market is expected to reach a market size of US$15.013 billion by 2027.


Q2. What are the growth prospects for the self-monitoring blood glucose (SMBG) device market?
A2. The global self-monitoring blood glucose device market is expected to grow at a CAGR of 6.39% over the forecast period.


Q3. What factors are anticipated to drive the self-monitoring blood glucose device market?
A3. Increasing cases of diabetes are expected to increase the market adoption of self-monitoring blood glucose devices during the forecast period.


Q4. What is the size of the self-monitoring blood glucose (SMBG) device market?
A4. Self-Monitoring Blood Glucose (SMBG) Devices Market was valued at US$9.731 billion in 2020.


Q5. Which region holds the maximum market share in the self-monitoring blood glucose device market?
A5. North America and Europe regions are projected to hold a large share of the self-monitoring blood glucose (SMBG) device market.


1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation

2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions

3. EXECUTIVE SUMMARY
3.1. Research Highlights

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. GLOBAL SELF-MONITORING BLOOD GLUCOSE (SMBG) DEVICES MARKET, BY TYPE
5.1. Introduction
5.2. Blood Glucose Meters
5.3. Testing Strips
5.4. Lancets & Lancing Devices

6. GLOBAL SELF-MONITORING BLOOD GLUCOSE (SMBG) DEVICES MARKET, BY INDICATION
6.1. Introduction
6.2. Type 1 Diabetes
6.3. Type 2 Diabetes
6.4. Gestational Diabetes

7. GLOBAL SELF-MONITORING BLOOD GLUCOSE (SMBG) DEVICES MARKET, BY END-USERS
7.1. Introduction
7.2. Hospitals and Clinics
7.3. Ambulatory Care Setting
7.4. Diagnostic Centers
7.5. Home Care Setting 

8. GLOBAL SELF-MONITORING BLOOD GLUCOSE (SMBG) DEVICES MARKET, BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. United States
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. France
8.4.3. United Kingdom 
8.4.4. Spain 
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Israel
8.5.4. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. India
8.6.3. South Korea
8.6.4. Taiwan
8.6.5. Thailand
8.6.6. Indonesia 
8.6.7. Japan
8.6.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES
10.1. Abbott
10.2. Hoffmann-La Roche Ltd.
10.3. Lifescan Inc.
10.4. Bayer Corporation
10.5. ARKRAY, Inc.
10.6. B. Braun Melsungen AG
10.7. Sanofi
10.8. Ypsomed AG
10.9. Bionime Corporation
10.10. Ascensia Diabetes Care Holdings AG

Abbott

Hoffmann-La Roche Ltd.

Lifescan Inc.

Bayer Corporation

ARKRAY, Inc.

B. Braun Melsungen AG

Sanofi

Ypsomed AG

Bionime Corporation

Ascensia Diabetes Care Holdings AG