At 8.0% CAGR, the Middle East & Africa Glucose Monitoring Devices Market is Projected to be Worth US$ 1,736.39 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Middle East & Africa glucose monitoring devices market was valued at US$ 935.02 million in 2022 and is expected to reach US$ 1,736.39 million by 2030, registering a CAGR of 8.0% from 2022 to 2030. Rapid technological advancements in glucose monitoring devices is a critical factor attributed to the Middle East & Africa glucose monitoring devices market expansion.        

Products with advanced technologies offer more effective benefits in diabetes treatment. As the prevalence of diabetes increases worldwide, the demand for more products with advancements also accelerates. Thus, researchers have been carrying out research activities resulting in product innovations over the years. There are many methods to deliver insulin into the body, such as needles, insulin pens, and insulin pumps. Insulin pumps are small, computerized diabetes management devices connected with a cannula under the skin to deliver a slow, continuous insulin level. The individual can control the program depending on the requirements. Optimal diabetes management depends on accurate glucose monitoring devices. The increasing advancements in glucose monitoring devices have resulted in smaller required blood volumes with improved accuracy. The ability to transfer data between the blood glucose meter and glucose monitoring devices has also been improved. The increasing advancements in blood glucose monitoring technology have improved accuracy, smaller required blood volumes, and the ability to transfer data between the blood glucose meter and glucose monitoring devices. In June 2022, Abbott announced a new bio wearable that continuously monitors glucose and ketone levels in one sensor. Thus, the technological advancements coupled with the increasing influx of new products are expected to propel the market growth over the forecast years.

On the contrary, high cost of glucose monitoring devices hampers the Middle East & Africa glucose monitoring devices market.  

Based on type, the Middle East & Africa glucose monitoring devices market is bifurcated into continuous glucose monitoring devices and self-glucose monitoring devices. The self-glucose monitoring devices held 58.6% share of Middle East & Africa glucose monitoring devices market in 2022, amassing US$ 547.83 million. It is projected to garner US$ 991.62 million by 2030 to expand at 7.7% CAGR during 2022–2030. 

Based on application, the Middle East & Africa glucose monitoring devices market is bifurcated into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held 62.2% share of Middle East & Africa glucose monitoring devices market in 2022, amassing US$ 581.50 million. It is projected to garner US$ 1,063.37 million by 2030 to expand at 7.8% CAGR during 2022–2030.

Based on testing site, the Middle East & Africa glucose monitoring devices market is bifurcated into fingertip testing and alternate site testing. The fingertip testing segment held 65.6% share of Middle East & Africa glucose monitoring devices market in 2022, amassing US$ 613.51 million. It is projected to garner US$ 1,165.78 million by 2030 to expand at 8.4% CAGR during 2022–2030.

Based on end user, the Middle East & Africa glucose monitoring devices market is bifurcated into healthcare setting and self/homecare. The self/homecare segment held 59.7% share of Middle East & Africa glucose monitoring devices market in 2022, amassing US$ 557.95 million. It is projected to garner US$ 999.48 million by 2030 to expand at 7.6% CAGR during 2022–2030.

 Based on country, the Middle East & Africa glucose monitoring devices market has been categorized into the Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 35.6% share of Middle East & Africa glucose monitoring devices market in 2022. It was assessed at US$ 333.33 million in 2022 and is likely to hit US$ 635.56 million by 2030, exhibiting a CAGR of 8.4% during 2022–2030.      

Key players operating the Middle East & Africa glucose monitoring devices market are B. Braun SE, F. Hoffmann-La Roche Ltd, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, Nipro Corp, GE HealthCare Technologies Inc, and Terumo Corp, among others.

• In Mar-2022, Medtronic plc announced that reimbursement for continuous glucose monitoring (CGM) had been recently expanded or initiated in several countries throughout North and South America. CGM systems provide critical information on glucose levels to help simplify the management of diabetes.
• In June-2023, Senseonics Holdings, Inc. announced that UnitedHealthcare, the largest health insurance company in the United States, began providing coverage for the Eversense E3 CGM System effective July 1, 2023, for people with type 1 and insulin-requiring type 2 diabetes.

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