Self-Monitoring Blood Glucose Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product (Blood Glucose Meter, Blood Glucose Testing Strips, Lancets, Others), By End Users( Hospitals, Clinics, Diagnostic Centers, Homecare) and Region Forecast 2020-2031

Self-Monitoring Blood Glucose Devices Market size was valued at US$ 13.12 billion in 2023. It is expected to reach a value of US$ 23.84 billion by 2024, at a significant CAGR of 9.2% from 2024-2030. Self-monitoring blood glucose technology methods are small, portable devices that can detect disease risk. These instruments often take a tiny blood sample from patients by pricking their fingertips in order to measure their blood sugar levels. This approach is advised by international recommendations for effectively managing diabetes in patients. The blood glucose concentration is measured using a self-monitoring blood glucose monitor. The COVID-19 pandemic had a favourable effect on the expansion of the self-monitoring blood glucose market. Diabetes problems, aberrant glucose variability, and increased blood glucose levels may be experienced by COVID-19-infected patients who have diabetes.

The COVID-19 emergency has highlighted the significance of self-monitoring blood glucose devices, therefore it is important to keep an eye on a patient's blood glucose monitoring to prevent aggravation. Going forward, it is anticipated that the market for self-monitoring blood glucose devices would expand due to the increased prevalence of diabetes. Self-monitoring of blood glucose is a technique whereby a person with diabetes uses a glycemic reading device to measure their blood sugar (glucose metre) so that they can adjust or monitor the effectiveness of their treatment (diet, exercise, insulin, antidiabetics), or see their doctor, based on the test results.