Market Trends of Global Blood Glucose Monitoring Industry
The Self-blood Glucose Monitoring Segment held the Highest Market Share in the Current Year
The self-blood glucose monitoring segment held a major market share of about 66.09% in the blood glucose monitoring market in the current year.
Self-monitoring of blood glucose is an approach used by diabetic patients to measure their blood sugar level themselves, using a glucometer, test strips, and lancets. Based on the readings, patients can adjust or check the effect of their treatment. Although CGM is an advanced way for people living with diabetes to check glucose readings in real-time, SMBG is the most preferred device by patients due to its economic affordability and less sophisticated usage when compared to CGM.
The international guidelines suggest that self-monitoring blood glucose (SMBG) should be used regularly for effective diabetes management and treatment. Although there may be discrepancies between glucometer readings and actual blood glucose levels, the immediate results provided by glucometers are more convenient than those obtained through laboratory testing, which can be time-consuming. As a result, SMBG devices have become widely used in medical settings, from patients' homes to hospital emergency rooms.
The growth in market volume and share of test strips are expected to be higher than that of glucose meters because of the difference in use-case frequency. The average efficiency of the glucose meter ranges between six months to three years, whereas test strips are for one-time use. Introducing new kinds of lancet devices that induce lesser pain to the users is expected to help the market’s growth, as the acceptance rate is likely to rise during the forecast period.
Innovative technologies, such as digital health apps that display and summarize individual blood glucose measurements and incorporate additional relevant data, such as insulin doses, meals/snacks, and physical activity, can further support self-management while decreasing disease burden and benefitting overall diabetes care. Integration of Blood Glucose Monitoring with insulin calculators, automated insulin titration software, and remote coaching are further developments that provide patients with poorly controlled diabetes additional support needed to improve critical outcomes, thereby enhancing the market prospects in the years to come.
The market players are adopting various strategies such as collaborations, partnerships, mergers, acquisitions, product development, and expansions to increase market share. For instance, in January 2023, LifeScan announced that the peer-reviewed Journal of Diabetes Science and Technology published Improved Glycemic Control Using a Bluetooth Connected Blood Glucose Meter and a Mobile Diabetes App: Real-World Evidence From Over 144,000 People With Diabetes, detailing results from a retrospective analysis of real-world data from over 144,000 people with diabetes one of the largest combined blood glucose meter and mobile diabetes app datasets ever published.
Thus, the above-mentioned factors are expected to drive the segment growth over the forecast period.
North America Expected to Dominate the Blood Glucose Monitoring Market
In the current year, North America, especially the United States, held the largest share of about 54.5% in the blood glucose monitoring market due to the large patient pool and wide acceptance of advanced technologies, followed by Europe, with moderate growth.
The Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report 2022 estimated that more than 130 million adults are living with diabetes or prediabetes in the United States. Type 2 diabetes is more common, and diabetes is more consequential among communities of color, those who live in rural areas, and those with less education, lower incomes, and lower health literacy.
The American Diabetes Association (ADA), the Endocrine Society, the American College of Physicians, the American Academy of Pediatrics, the Society of General Internal Medicine, and the National Academy of Medicine published statements. It issued calls to action to address social determinants of health (SDOH) at the individual, organizational, and policy levels. In 2021, the ADA also published a scientific review describing the associations between SDOH and diabetes risk and outcomes, focusing on socioeconomic status, health literacy, the food environment, food insecurity, and neighborhood and physical environments, among other topics.
Furthermore, the current continuous glucose monitoring devices can either retrospectively display the trends in blood glucose levels by downloading the data or give a real-time picture of glucose levels through receiver displays. The newest CGM models, the Abbott Freestyle Libre 3 and the Dexcom G7, overcame many technical barriers. Technological advances such as Eversense E3 CGMs have significantly improved providers' ability to treat diabetes and patients' ability to manage their blood glucose levels.
According to the Centre for Health Care Strategies for Medicaid agencies that can cover and increase access to CGMs for their beneficiaries and the larger healthcare system, there is strong evidence that supports the benefits of CGM use for all people who are insulin-treated with an insulin pump or multiple daily insulin injections, and emerging evidence is showing the benefit of CGMs in patients on basal insulin.
Therefore, owing to the aforementioned factors, the growth of the studied market is anticipated in the North American region.
