The diabetes monitoring devices market comprises various devices such as self-monitoring blood glucose meters, continuous glucose monitoring systems, and insulin delivery devices that help diabetic patients in managing their blood glucose levels. The continuous monitoring devices provide real-time glucose readings to users and alert them about high or low levels, thereby helping in better management of diabetes. The prevalence of diabetes has been rising globally due to sedentary lifestyles and obesity. This has increased the demand for diabetes management devices for controlling blood sugar levels.

Global diabetes monitoring devices market size is expected to reach US$ 18.90 Bn by 2030, from US$ 10.90 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 8.2% during the forecast period.

Key Takeaways
Key players operating in the diabetes monitoring devices market are Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd, LifeScan, and Medtronic.

The key opportunities in the Diabetes Monitoring Devices Market Demand  include increasing adoption of digital health technologies for diabetes management and development of affordable and user-friendly glucose monitoring devices. Technological advancements are focused on development of minimally invasive and non-invasive continuous glucose monitoring systems, smart insulin pens, artificial pancreas devices, and other integrated diabetes management systems.

Market Drivers
The rising geriatric population diagnosed with diabetes is a key driver boosting the demand for diabetes monitoring devices. According to WHO, diabetes predominantly affects elderly people aged 60 years and above. As the global elderly population crosses 1 billion, the demand for diabetes management devices is expected to rapidly increase to control blood sugar levels in old people.

Get more insights on - Diabetes Monitoring Devices Market