Glucose Sensor Market

Global Glucose Sensor Market Size (2024 to 2029)

The global glucose sensor market size is anticipated to be valued at USD 11145 million by 2029 from USD 8336 million in 2024, growing at a CAGR of 5.98% from 2024 to 2029.

MARKET DRIVERS

The growing prevalence of diabetes worldwide is one of the major factors propelling the glucose sensor market growth. The International Diabetes Federation predicts that the population of adults with diabetes will reach 700 million by 2045 and this growing prevalence of diabetes necessitates effective and efficient glucose monitoring solutions for diabetes management. Glucose sensors play a crucial role in the management of diabetes by providing real-time glucose readings that enable individuals to make informed decisions regarding their diet, medication and lifestyle.

Technological advancements further drive the glucose sensor market growth. Continuous glucose monitoring (CGM) systems that utilise glucose sensors to provide continuous glucose data have surpassed conventional blood glucose metres in terms of popularity. CGM systems provide real-time monitoring, reducing the need for numerous finger pricks and providing comprehensive information on glucose fluctuations throughout the day. The development of implantable glucose sensors that are minimally invasive has also revolutionised glucose monitoring. These sensors can be implanted beneath the epidermis or within the body, allowing for continuous glucose monitoring without the need for external devices. Technological advances continue to enhance sensor precision, usability, and integration with digital health platforms, thereby enhancing the overall user experience and propelling market expansion.

The growing need for effective management of diabetes and patient centred care contributes to the glucose sensor market growth.  Healthcare providers and organisations are placing a greater emphasis on early detection, regular monitoring, and individualised treatment plans for diabetics. Glucose sensors provide a practical and effective method for monitoring blood glucose levels and implementing timely interventions. They enable patients to play an active role in the management of their condition, resulting in better health outcomes. Glucose sensors also allow medical professionals to make data-driven decisions and provide individualised guidance to patients. The shift towards patient-centred care and the incorporation of glucose sensors into care management systems, electronic health records, and telehealth platforms are driving the growth of the glucose sensor market.

MARKET RESTRAINTS

Stringent regulatory requirements and approvals delay new product introductions and updates, limited reimbursement policies hinder widespread adoption due to out-of-pocket expenses and concerns about accuracy and reliability of glucose sensors undermine patient trust majorly hamper the market growth. High costs of devices and supplies limit accessibility for patients and healthcare systems and competition from alternative glucose monitoring technologies further hinders the market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Glucose Sensor Market Analysis By Type

Based on type, the self-monitoring devices segment is expected to account for the major share of the worldwide market during the forecast period. SMBG is considered an essential component of daily diabetes management. Self-monitoring of blood sugar is a technique in which individuals measure their blood sugar levels using a glucose metre. The rising demand for convenient and accessible glucose monitoring by individuals with diabetes, growing prevalence of diabetes worldwide, increasing need for self-monitoring and advancements in self-monitoring device technology including smaller sizes and improved accuracy drive the growth of the self-monitoring devices segment in the global market. The growing awareness and emphasis on diabetes management and self-care and availability of a wide range of self-monitoring devices from various manufacturers further boost the growth rate of the self-monitoring devices segment in the global market.

The continuous blood glucose monitoring (CBGM) devices segment is anticipated to grow at the highest CAGR over the forecast period. CBGM is an essential diabetes management aid for type 1 diabetic patients, who are especially susceptible to severe and potentially life-threatening hypoglycaemia. The growing adoption of continuous glucose monitoring (CGM) for improved diabetes management, increasing interest in reducing hypoglycemic and hyperglycemic events, growing preference for CGM systems among healthcare professionals and patients and technological advancements in CGM technology including accuracy and wearability improvements contributes to the growth of the CBGM segment in the global market.

Global Glucose Sensor Market Analysis by End-Use

Based on end-use, the hospitals segment is expected to play the leading role in the global market during the forecast period. The growing volume of patients visiting hospitals for diabetes management and treatment, growing need for accurate and real-time glucose monitoring for hospitalized patients and the integration of glucose sensing technology into hospital information systems drive the growth of the hospital segment in the global market. The rising emphasis on glycemic control and patient safety in hospitals, increasing collaborations between glucose sensor manufacturers and healthcare institutions and growing use of continuous glucose monitoring systems in critical care settings contribute to the growth of the hospital segment in the worldwide market.

The home care segment is anticipated to account for a substantial share of the worldwide market and is expected to showcase the highest CAGR during the forecast period. The growing adoption of self-monitoring of blood glucose levels by individuals with diabetes, the convenience and comfort of monitoring glucose levels at home and rapidly growing aging population and prevalence of diabetes drive the growth of the home care segment. Technological advancements in home glucose monitoring devices, growing focus on patient empowerment and self-management and the availability of insurance coverage for home glucose monitoring further fuel the growth rate of the home care segment.

REGIONAL ANALYSIS 

North America dominated the glucose sensor market in 2022 and the domination of the North American region is expected to continue throughout the forecast period. Factors such as high prevalence of diabetes in the North American region, the presence of advanced healthcare infrastructure supporting the adoption of glucose monitoring devices and strong support from government initiatives and organizations promoting diabetes management and control primarily drive the growth of the North American glucose sensor market. Favorable reimbursement policies for glucose monitoring devices, technological advancements in glucose sensor technologies and growing awareness and focus on proactive diabetes management and monitoring further fuel the growth of the North American glucose sensor market. The U.S. is expected to capture the major share of the North American market during the forecast period owing to the growing patient population of obesity, technological advancements and introduction of novel products. The growing aging population in the U.S. favours the U.S. market growth.

Europe had a substantial share of the global market in 2022 and is expected to grow at a promising CAGR during the forecast period. The growing awareness about diabetes management and the importance of regular glucose monitoring, favorable reimbursement policies for glucose monitoring devices and related healthcare services and increasing geriatric population prone to diabetes primarily drive the growth of the European market. The growing number of advancements in diabetes care technologies and glucose monitoring devices and rising emphasis on preventive healthcare and early detection of diabetes further accelerates the growth rate of the European market. The UK, Germany and Spain are expected to hold the leading share of the European market during the forecast period.

The Asia-Pacific region is anticipated to be the most lucrative region in the worldwide market during the forecast period. The growing diabetic population in the region, increasing number of improvements in the healthcare infrastructure and accessibility to healthcare services, growing disposable incomes and increased affordability of glucose monitoring devices propel the glucose sensor market in the Asia-Pacific region. Rising awareness about diabetes management and self-monitoring, technological advancements and innovation in glucose sensor technologies and supportive government initiatives and programs aimed at diabetes management and control further fuel the growth rate of the APAC market. China, India and Japan are estimated to occupy the leading share of the APAC market during the forecast period.

KEY PLAYERS IN THE GLOBAL GLUCOSE SENSOR MARKET

Abbott Laboratories, Dexcom, Inc., Medtronic plc, Roche Diagnostics, Johnson & Johnson (LifeScan, Inc.), Senseonics Holdings, Inc., Ascensia Diabetes Care Holdings AG, Ypsomed AG, Nova Biomedical and MicroPort Scientific Corporation are some of the major companies in the global glucose sensor market.

RECENT HAPPENINGS IN THE MARKET

• In January 2021, Abbott announced that the FDA had authorised paediatric patients to use its FreeStyle Libre 2 continuous glucose monitoring (CGM) system. The system provides glucose readings and alerts in real time to diabetic patients and can be utilised by children as young as four years old.
• Senseonics Holdings, Inc. announced the launch of its Eversense 180-day CGM system in Europe in March 2021. The system consists of a small implantable sensor that can be worn for up to six months and transmits glucose data in real time to the user's smartphone.

DETAILED SEGMENTATION OF THE GLOBAL GLUCOSE SENSOR MARKET INCLUDED IN THIS REPORT

This research report on global glucose sensor market has been segmented and sub-segmented based on the following categories.

By Type

• Self-monitoring Devices
  • Blood Glucose Meter
  • Testing Strips
  • Lancets
• Continuous Blood Glucose Monitoring Devices
  • Sensors
  • Transmitter & Receiver
  • Insulin Pumps

by End-Use

• Hospitals
• Private Clinics
• Home Care
• Ambulatory Settings
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa