The market now has a greater need for effective blood glucose monitoring systems due to the constantly rising number of diabetes patients. The major market players invest a lot of money in rapid research and development projects that will allow them to introduce cutting-edge diabetic monitoring equipment. A continuous monitoring system aids in continuously monitoring the patient's status and allows for reevaluation to determine the best course of treatment and diet.
The Major Companies in the Blood Glucose Monitoring System Market Include Abbott Laboratories, Lifescan Inc., Hoffmann-La Roche Ltd., Sanofi, Nova Biomedical, B. Braun Melsungen, Terumo Corporation, Ascensia Diabetes Care, ARKRAY Inc., Becton Dickinson and Company, Ypsomed Holding AG, Medtronic, and Others.
As per recent studies published by the global research hub, the Blood Glucose Monitoring System market was valued at USD 13,618.3 Million in 2021 and is anticipated to reach a value of USD 23,420.6 Million by the year 2028. The Global Market is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 9.4 % over the forecast period.
Headquarters: CH-4070 Basel, Switzerland
Year of Establishment: 1896
Roche is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives. Founded in 1896, Roche is the world’s largest biotech company, with truly differentiated medicines in oncology, immunology, infectious diseases, ophthalmology, and diseases of the central nervous system. Roche is also the world leader in in vitro diagnostics and tissue-based cancer diagnostics, and a frontrunner in diabetes management.
Roche Holding AG's annual revenue for 2021 was USD 72.0B, a 11.94% increase from 2020.
Headquarters: Illinois, U.S.
Year of Establishment: 1888
The company manufactures and sells healthcare products worldwide. Abbott offers a wide range of branded and generic pharmaceutical, medical device, diagnostic, and nutrition products. the company offers medical tests and diagnostic instrument systems for various diseases such as HIV, hepatitis, cancer, heart failure, metabolic disorders, and other indicators of health that are used worldwide by hospitals, laboratories, blood banks, physician offices, etc. The company has a strong global presence in more than 160 countries and will have about 113K employees at the end of 2021.
Abbott Laboratories' annual revenue for 2021 was USD 43.0 billion, a 24.47% increase from 2020.
Ascensia Diabetes Care
Headquarters: Basel, Switzerland
Year of Establishment: 2016
Ascensia Diabetes Care is a global company dedicated to improving the lives of people with diabetes and helping empower them to take charge of their health and happiness. Ascensia Diabetes Care serves the needs of patients through innovation and specialized expertise in diabetes. It offers high-quality solutions and precision tools that help patients manage their conditions and take charge of their lives. Ascensia Diabetes Care was established in 2016 through the acquisition of Bayer Diabetes Care by Panasonic Healthcare Holdings. company has been serving people with diabetes for over 70 years, and its portfolio includes the world-renowned CONTOUR range of blood glucose monitoring systems.
Headquarters: Minneapolis, Minnesota, U.S.
Year of Establishment: 1949
Founded in 1949, Medtronic is a global healthcare solutions company committed to improving the lives of people through its medical technologies, services, and solutions. Medtronic operates from more than 260 locations in more than 155 countries. Medtronic manufactures and sells medical devices. The company is headquartered in Minneapolis, Minnesota, U.S. Its products include defibrillators, insertable cardiac monitors, implantable defibrillators, leads, and delivery systems, ablation products, electrophysiology catheters, coronary and peripheral stents, and related delivery systems.
The company also offers products for the spine; bone graft substitutes; biologic products; trauma and implantable neurostimulation therapies, and drug delivery systems for the treatment of chronic pain, movement disorders, obsessive-compulsive disorder, overactive bladder, urinary retention, fecal incontinence, and gastroparesis.
In 2021, Medtronic generated revenue worth USD 30.1 billion, while in 2020, revenue was USD 28.91 billion
Headquarters: Paris, France
Year of Establishment: 1973
Sanofi is a global biopharmaceutical company focused on human health and dedicated to supporting people through their health challenges. The company offers a product portfolio, including vaccines to prevent illness, and innovative pharmaceutical treatments to fight pain and ease suffering. In addition, the company provides solutions for rare diseases and long-term chronic conditions. With more than 100,000 people in 100 countries, Sanofi is transforming scientific innovation into healthcare solutions around the globe.
Sanofi annual revenue for 2021 was USD 46.34B, an 8.58% increase from 2020.
Headquarters: Massachusetts, United States
Year of Establishment: 1976
The company develops, manufactures, and sells blood testing analyzers and diagnostic products for healthcare companies. It offers hospital blood gas and critical care analyzers, chemistry and cell analyzers for biotechnology, self-testing diabetes monitoring systems, hospital point-of-care connectivity meters and strips, veterinary blood gas and critical care analyzers, veterinary point-of-care analyzers, veterinary analyzers, and lactate measuring systems for athletes. The company also provides hospital glucose monitoring systems, hospital glucose and ketones monitoring systems, point-of-care whole blood creatinine and eGFR testing products, electrolyte/chemistry analyzers, prime electrolyte analyzers, blood lactate meters for sports training and conditioning, muscle performance indicators, and blood beta-hydroxybutyrate meters.
It markets and sells its products through distributors in North America, Europe, Russia, Eastern Europe, the Middle East, Africa, Asia, the Pacific Islands, Latin America, the Indian Subcontinent, and internationally.
Headquarters: Melsungen, Germany
Year of Establishment: 1839
Braun is one of the world's leading providers and manufacturers of healthcare solutions. In total, the B. Braun product range comprises 5,000 different products, 95 percent of which are manufactured by the company. B. Braun Melsungen AG is a subsidiary of B. Braun Holding GmbH & Co. KG. The company provides the global healthcare market with products for diabetes, anesthesia, intensive medicine, cardiology, extracorporeal blood treatment, and surgery, as well as services for hospitals, general practitioners, and the home care sector.
Headquarters: Tokyo, Japan
Year of Establishment: 1921
The company manufactures and sales medical products and equipment, including pharmaceuticals, nutritional food supplements, blood bags, disposable medical devices, cardiovascular systems, vascular grafts, peritoneal dialysis, blood glucose monitoring systems, medical electronic devices, and digital thermometers. The company operates in three main businesses: cardiac vascular, general hospital, and blood management. The company has locations in Japan, North & South America, Europe, the Middle East and Africa, China, and Asia.
In 2021, Terumo Corporation. generated revenue worth USD 5.77 billion while in 2020 revenue was USD 5.78 billion. Terumo's annual revenue for 2022 was USD 6.25 Billion, an 8.48% increase from 2021.
Headquarters: Kyoto, Japan
Year of Establishment: 1960
ARKRAY develops, manufactures, and distributes products that focus on diabetes testing and urinalysis, in addition to other simple test equipment that supports both medical professionals and patients. It offers instruments for diabetes diagnosis, urinalysis, and genetic testing; point-of-care systems for dry chemistry, electrolytes, and urinalysis; and self-care products that include blood glucose meters and lancing devices for diabetic patients.
Headquarters: New Jersey, U.S.
Year of Establishment: 1897
The company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products worldwide. It operates in two segments, BD Medical and BD Life Sciences. The BD Medical segment offers syringes, pen needles, and other products. The BD Life Sciences segment provides integrated systems for specimen collection, safety-engineered blood collection, automated blood culturing and tuberculosis culturing, microorganism identification and drug susceptibility systems, and other products. The company markets its products through independent distribution channels and sales representatives to healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry, and the general public.
BD generated revenue of USD 20.24 billion in 2021, up from USD 17.1 billion in 2020.
Headquarters: Burgdorf, Switzerland
Year of Establishment: 2003
The company, together with its subsidiaries, develops, manufactures, and sells injection and infusion systems for pharmaceutical and biotechnology companies. The company operates through Ypsomed Diabetes Care, Ypsomed Delivery Systems, and other segments. In addition, it offers contract manufacturing and other services. The company markets its products through biotechnology and pharmaceutical partners as well as through its own distribution network and independent distributors. It operates in Switzerland, other European countries, North America, and internationally.