Russia Blood Glucose Monitoring Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 528.51 Million |
| Market Size (2029) | USD 809.46 Million |
| CAGR (2024 - 2029) | 8.90 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Russia Blood Glucose Monitoring Market Analysis
The Russia Blood Glucose Monitoring Market size is estimated at USD 528.51 million in 2024, and is expected to reach USD 809.46 million by 2029, growing at a CAGR of 8.90% during the forecast period (2024-2029).
Russia is currently facing a significant challenge with the increasing number of diabetes cases, which has major implications for the health of its population. Recent data from the International Diabetes Federation (IDF) reveals that Russia is among the top ten countries worldwide in terms of the number of adults aged 20-79 years living with diabetes. The IDF estimates that approximately 11.4 million adults in Russia have diabetes, affecting around 7.8% of the adult population. This alarming prevalence indicates a growing epidemic that requires immediate attention and collaborative efforts from healthcare authorities and policymakers
There are several factors contributing to the high prevalence of diabetes in Russia. Sedentary lifestyles, poor dietary habits, and a rising rate of obesity are significant drivers of the disease. Moreover, limited access to healthcare services, particularly in remote and rural areas, hinders early diagnosis and proper management of diabetes. Socioeconomic factors, including poverty and disparities in healthcare access, further worsen the situation, disproportionately affecting vulnerable populations.
The implications of the diabetes epidemic in Russia are far-reaching, extending beyond individual health outcomes to socioeconomic burdens on the healthcare system and the overall economy. Complications associated with diabetes, such as cardiovascular disease, kidney failure, and lower limb amputations, place a heavy strain on public health resources and productivity.
Addressing this crisis necessitates a comprehensive approach that includes preventive measures, early detection, improved healthcare access, and comprehensive management strategies. Collaborative efforts between government agencies, healthcare providers, community organizations, and educational institutions are vital in curbing the prevalence of diabetes and minimizing its impact on the health and well-being of the Russian population.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Russia Blood Glucose Monitoring Market Trends
Increasing Type-1 diabetes population across Russia
According to IDF, to reduce the diabetes epidemic in the country, the Russian government needs to fully implement a National Diabetes Plan that establishes a state budget that guarantees diabetes care to all Russian citizens.
Russia is working towards improving the reimbursement system for all aspects of diabetes care, limiting out-of-pocket payments, and preventing households from incurring catastrophic expenditures. Also, implementing a national screening program to improve the early identification of disturbed carbohydrate metabolism and creating a specialized diabetes health service under the Ministry of Health of the Russian Federation.
The COVID-19 pandemic emphasized the need for good glycemic control in patients with diabetes, largely because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from a viral illness. The frequency of monitoring glucose levels depends on the type of diabetes, which varies from patient to patient. Type-1 diabetic patients must check their blood glucose levels regularly, monitor their blood glucose levels, and adjust the insulin dosing accordingly.
As a result of the factors above, the growth of the studied market in Russia is anticipated.
Continuous Glucose Monitoring Holds Highest Market Share in Russia Blood Glucose Monitoring Market.
Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated to the transmitter. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period.
The current CGM devices show a detailed representation of blood glucose patterns and tendencies compared to a routine check of glucose levels at set intervals. These technologies overcome many of the limitations of self-monitoring blood glucose (SMBG) by fingerprick, allowing it to go beyond HbA1c to check glucose control in diabetes.
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 continuous glucose monitoring (CGM) sensors have opened new scenarios to assess, off-line, the effectiveness of individual patient therapeutic plans and stimulated the development of innovative online applications, such as hypo/hyperglycemia alert systems and artificial pancreas closed-loop control algorithms. Continuous glucose monitoring devices are becoming cheaper with the advent of new technologies.
The increased diabetic prevalence in Russia and the above factors will likely drive segment growth during the forecast period.
Russia Blood Glucose Monitoring Industry Overview
The blood glucose monitoring market is highly fragmented, with few major manufacturers present in the market. The CGM devices market is dominated by major players like Dexcom, Medtronics, Abbott, and Senseonics. The market for BGM devices comprises more generic players like Roche, LifeScan, Arkray, Ascensia, etc. Technological innovations in the recent past helped companies to strengthen their market presence.
Russia Blood Glucose Monitoring Market Leaders
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Roche
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Abbott
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Dexcom
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Medtronics
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LifeScan
*Disclaimer: Major Players sorted in no particular order
Russia Blood Glucose Monitoring Market News
- October 2023: Phillips-Medisize, a subsidiary of Molex, specializes in the design, engineering, and manufacturing of pharmaceutical drug delivery, in-vitro diagnostic, and MedTech devices. They have partnered with GlucoModicum, a pioneering medtech company from Finland, to collaborate on the development and eventual launch of a unique non-invasive wearable device. This innovative device aims to overcome obstacles in technology and patient care, specifically in continuous glucose monitoring (CGM).
- March 2022: DexCom announced the receipt of CE Mark for its G7 CGM system in Europe, intended for people who have diabetes and are two years and older, including pregnant women. With this approval, the highly popular and best-selling real-time CGM in the world is now more powerful and easier to use with a small, all-in-one wearable and completely redesigned mobile app.
Russia Blood Glucose Monitoring Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Drivers
4.3 Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Self-monitoring blood glucose devices
5.1.1 Glucometer Devices
5.1.2 Test Strips
5.1.3 Lancets
5.2 Continuous blood glucose monitoring devices
5.2.1 Sensors
5.2.2 Durables (Receivers and Transmitters)
6. MARKET INDICATORS
6.1 Type-1 Diabetes population
6.2 Type-2 Diabetes population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Abbott Diabetes Care
7.1.2 Roche Holding AG
7.1.3 LifeScan
7.1.4 Dexcom Inc.
7.1.5 Medtronic PLC
7.1.6 Arkray Inc.
7.1.7 Ascensia Diabetes Care
7.1.8 Agamatrix Inc.
7.1.9 Bionime Corporation
7.1.10 Acon Laboratories Inc.
7.1.11 Trivida Functional Medicine
7.1.12 Senseonics
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
7.2.1 Self-monitoring Blood Glucose Devices
7.2.1.1 Abbott Diabetes Care
7.2.1.2 Roche Holding AG
7.2.1.3 LifeScan
7.2.2 Continuous Glucose Monitoring Devices
7.2.2.1 Dexcom Inc.
7.2.2.2 Medtronic PLC
7.2.2.3 Abbott Diabetes Care
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Russia Blood Glucose Monitoring Industry Segmentation
A blood glucose monitoring device is a medical tool designed to measure the concentration of glucose in a person's blood. These devices are primarily used by individuals with diabetes to monitor their blood sugar levels, helping them manage their condition effectively. Russia's blood glucose monitoring market is segmented into types. The report offers the value (in USD) and volume (in units) for the above segments.
| Self-monitoring blood glucose devices | |
| Glucometer Devices | |
| Test Strips | |
| Lancets |
| Continuous blood glucose monitoring devices | |
| Sensors | |
| Durables (Receivers and Transmitters) |
Russia Blood Glucose Monitoring Market Research FAQs
How big is the Russia Blood Glucose Monitoring Market?
The Russia Blood Glucose Monitoring Market size is expected to reach USD 528.51 million in 2024 and grow at a CAGR of 8.90% to reach USD 809.46 million by 2029.
What is the current Russia Blood Glucose Monitoring Market size?
In 2024, the Russia Blood Glucose Monitoring Market size is expected to reach USD 528.51 million.
Who are the key players in Russia Blood Glucose Monitoring Market?
Roche, Abbott, Dexcom, Medtronics and LifeScan are the major companies operating in the Russia Blood Glucose Monitoring Market.
What years does this Russia Blood Glucose Monitoring Market cover, and what was the market size in 2023?
In 2023, the Russia Blood Glucose Monitoring Market size was estimated at USD 481.47 million. The report covers the Russia Blood Glucose Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Russia Blood Glucose Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Russia Blood Glucose Monitoring Industry Report
Statistics for the 2024 Russia Blood Glucose Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Russia Blood Glucose Monitoring analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
