Sensor Based Glucose Measuring Systems Market Size, Share, Analysis, 2032

Sensor Based Glucose Measuring Systems Industry Prospective:

The global sensor based glucose measuring systems market size was worth around USD 16.17 billion in 2023 and is predicted to grow to around USD 27.50 billion by 2032, with a compound annual growth rate (CAGR) of roughly 6.08% between 2024 and 2032.

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Sensor Based Glucose Measuring Systems Market: Overview

Sensor-based glucose monitoring systems are advanced medical tools designed to help people and patients monitor their blood sugar levels.

The sensor-based technology is less invasive compared to traditional sugar-measuring methods, requiring the user to be pricked with a medical needle. Conventionally, the blood obtained through pricking is used to measure blood glucose levels.

However, this method can make the patients uncomfortable. Also, some people do not prefer surgically invasive methods for conducting medical procedures. In such cases, sensor-based glucose measuring systems can prove highly beneficial.

The tools consist of 3 main aspects for proper functioning. The device consists of compact sensors that detect glucose levels. The second part consists of software and hardware tools that allow data to be transmitted from the sensors to a display device.

The third aspect deals with real-time access to information related to body glucose levels. The demand for sensor-based glucose measuring systems is expected to grow at a steady rate during the forecast period.

However, the high cost of the technology, along with competing from alternate solutions, will impact market revenue

Key Insights:

• As per the analysis shared by our research analyst, the global sensor based glucose measuring systems market is estimated to grow annually at a CAGR of around 6.08% over the forecast period (2024-2032)
• In terms of revenue, the global sensor based glucose measuring systems market size was valued at around USD 16.17 billion in 2023 and is projected to reach USD 27.50 billion by 2032.
• The sensor-based glucose measuring systems market is projected to grow at a significant rate due to the increasing number of diabetic patients across the globe
• Based on the product, the continuous glucose monitoring (CGM) system segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the application, the type 1 diabetes segment is anticipated to command the largest market share
• Based on region, North America is projected to dominate the global market during the forecast period

Sensor Based Glucose Measuring Systems Market: Growth Drivers

Increasing number of diabetic patients across the globe will drive the market demand rate

The global sensor based glucose measuring systems is expected to be driven by the growing number of diabetic patients worldwide.

According to the World Health Organization (WHO), more than 422 million people across the globe are affected by diabetes. Majority of the diabetic population is from low- and medium-income countries.

Similarly, the agency estimates that nearly 1.5 million deaths annually are attributed to diabetic conditions. As per the British Heart Foundation, the leading causes of diabetes include obesity, inactivity, family history of type 2 diabetes, or having pre-diabetes.

The market studies suggest that the obesity rate has been growing worldwide. As per official statistics, more than 2 billion people worldwide are obese as of 2024. By 2025, around 3 billion people are expected to cross the normal weight range.

In addition to this, a rise in the number of desk jobs or changing consumer lifestyles has further resulted in a higher number of diabetic patients. These trends are expected to fuel demand for technologies that help monitor glucose levels in the body either at regular intervals or perpetually.

Rising cases of gestational diabetes among pregnant women could contribute to industry’s expansion trend

Gestational diabetes leads to high blood pressure in women during pregnancy. It is caused when the body of a pregnant woman is unable to meet the biological changing needs.

According to the Cleveland Clinic, around 14% to 17% of pregnant women worldwide are at risk of contracting the disease. Mayo Clinic suggests that gestational diabetes can also be linked to high blood pressure and preeclampsia, which is a serious pregnancy-related complication.

The global sensor based glucose measuring systems market players must focus on providing medical solutions to pregnant women

Sensor Based Glucose Measuring Systems Market: Restraints

High cost of the technology to limit the industry’s expansion rate

The global industry for sensor based glucose measuring systems is expected to be restricted by the high cost of the technology. In most cases, the sensor is placed under the skin to detect and monitor glucose levels. The information is then communicated to a display device such as a smartphone or a laptop.

Users must be comfortable with using the technology. In addition, some patients may get intimidated by the idea of inserting a device under the skin.

Sensor Based Glucose Measuring Systems Market: Opportunities

Increasing introduction of new solutions in the commercial market will generate higher market opportunities

The global sensor based glucose measuring systems market is expected to generate more growth opportunities due to the rising introduction of new solutions in the market.

In June 2024, Abbott, a leading player in the medical technology industry, announced that it had received the necessary approval from the US Food & Drugs Administration (FDA) authority for two novel continuous glucose monitoring (CGM) systems, namely Libre Rio™ and Lingo™.

Both systems are based on the company’s FreeStyle Libre® continuous glucose monitoring technology. According to the company claims, the engineering solution is helping more than 6 million people worldwide in monitoring their blood glucose levels.

The lingo system leverages biosensors to monitor the data and continuously stream it to a coaching application device on a smartphone. The industry is further going to benefit from the rising number of smartphones and wearable tools.

According to market research, around 5 billion people across the world are using smartphones. This allows them to seek other digital solutions that can be utilized using smartphones and wearable technologies.

Sensor Based Glucose Measuring Systems Market: Challenges

Concern over data privacy and security breaches will challenge the market expansion trend

Doubts related to users' privacy are expected to challenge the global sensor-based glucose monitoring systems industry. Glucose measuring systems using sensors are generally connected to external smart devices that are prone to cyberattacks.

Such incidents compromise the integrity of confidential patient information, including medical history, financial details, and others.

Sensor Based Glucose Measuring Systems Market: Segmentation

The global sensor based glucose measuring systems market is segmented based on product sensor, application, and region.

Based on the product sensor, the global market segments are glucose meter, self-monitoring blood glucose system, transmitter & insulin pump, testing stripe, glucose meter, continuous glucose monitoring system, and others.

The highest growth was observed in the continuous glucose monitoring (CGM) system in 2023. These sensors provide continuous information, in real time, about the user’s blood glucose level.

These tools are widely popular among athletes and fitness enthusiasts. The normal range of blood glucose in humans when fasting is around 70 to 99 mg/dL.

Based on the application, the sensor based glucose measuring systems industry divisions are gestational diabetes, type 2 diabetes, and type 1 diabetes. In 2023, the highest growth was issued in the type 1 diabetes segment.

People with the condition are required to ensure control over blood glucose levels since they are at a higher risk of diabetes-induced other severe medical conditions. Around 9 million people worldwide are reported to be living with type 1 diabetes.

Sensor Based Glucose Measuring Systems Market: Report Scope

Sensor Based Glucose Measuring Systems Market: Regional Analysis

North America to register the highest growth rate during the projection period

The global sensor based glucose measuring systems market will be led by North America during the projection period. The growing launch of new solutions in the US market, facilitated by a rise in FDA clearances and greater product awareness, will help the industry thrive.

In March 2024, the US FDA announced the approval of the first ever over-the-counter CGM technology called The Dexcom Stelo Glucose Biosensor System. It is an integrated continuous glucose monitoring system (iCGM) that can be used by anyone over the age of 18 years.

The product targets people who do not use insulin and are currently treating diabetes using oral medications. Stelo Glucose Biosensor leverages a wearable sensor, and it is available as an application that helps display blood glucose-related information.

Europe is a prominent market for sensor-based glucose-measuring systems. The regional industry is influenced by the growing number of patients with diabetes.

In addition, higher health awareness further assists in regional market expansion. In July 2023, a Welsh company, Afon, announced that the company was working on a non-invasive glucose monitoring sensor that will be released in 2024.

Sensor Based Glucose Measuring Systems Market: Competitive Analysis

The global sensor based glucose measuring systems market is led by players like:

• Eversense (Senseonics)
• Integrity Applications (GlucoTrack)
• Abbott Laboratories
• Novo Nordisk
• Medtronic
• DarioHealth
• Johnson & Johnson (LifeScan)
• GlucoMe
• Medisana
• Dexcom
• Ascensia Diabetes Care
• Biolinq
• Roche Diabetes Care
• AgaMatrix
• B. Braun Melsungen

The global sensor based glucose measuring systems market is segmented as follows:

By Product Sensor

• Glucose Meter
• Self-Monitoring Blood Glucose System
• Transmitter & Insulin Pump
• Testing Stripe
• Glucose Meter
• Continuous Glucose Monitoring System
• Others

By Application

• Gestational Diabetes
• Type 2 Diabetes
• Type 1 Diabetes

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa