Spain Blood Glucose Monitoring Market Size, Share, and COVID-19 Impact Analysis, By Device (Self-monitoring blood glucose devices and Continuous blood glucose monitoring devices), By Distribution Channel (Institutional Sales and Retail Sales), and Spain Blood Glucose Monitoring Market Insights, Industry Trend, Forecasts to 2033

Spain Blood Glucose Monitoring Market Insights Forecasts to 2033

• The Spain Blood Glucose Monitoring Market Size was valued at USD 434.5 Million in 2023.
• The Spain Blood Glucose Monitoring Market Size is growing at a CAGR of 9.04% from 2023 to 2033
• The Spain Blood Glucose Monitoring Market Size is expected to reach USD 1032.5 Million by 2033

The Spain Blood Glucose Monitoring Market Size is anticipated to exceed USD 1032.5 Million by 2033, growing at a CAGR of 9.04% from 2023 to 2033. The rising cases of type-1 diabetes population in the country are driving the growth of the blood glucose monitoring market in the Spain.     

Market Overview

The blood glucose monitoring market refers to the healthcare industry that includes devices that are used to measure blood sugar levels in people with diabetes. Blood glucose monitoring is the process of testing blood sugar levels using a glucose meter or a continuous glucose monitor (CGM). The device aids in identifying patterns in the fluctuation of blood glucose (sugar) levels that occur in response to diet, exercise, and medications, and pathological processes associated with blood glucose fluctuations, such as diabetes mellitus. One of the main causes of the increasing number of patients who need routine blood glucose testing is the rising incidence of diabetes in the general population. The demand for these devices is expected to be fueled by the expanding patient base and the market participants' increased efforts to create and launch new blood glucose monitoring systems with cutting-edge technologies. The rising need for non-invasive glucose monitoring device and awareness about diabetes health particularly in developing nations are offering lucrative market growth opportunities.

Report Coverage

This research report categorizes the market for the Spain blood glucose monitoring market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Spain blood glucose monitoring market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Spain blood glucose monitoring market.

Driving Factors

The upsurging incidences of diabetes and an increased emphasis on glycemic control are propelling the Spain market market for blood glucose monitoring. Technological advancements such as smaller sensors and longer wear times for enhancing patient experience are driving the market expansion. Further, the incorporation of advanced technologies like CGM devices and digital health platforms for efficient data sharing, remote monitoring, and personalized diabetes care management is promoting market growth.

Restraining Factors

The increased price of continuous glucose monitoring systems for blood glucose monitoring is challenging the blood glucose monitoring market. Further, the rising cost of the devices owing to the incorporation of innovative and advanced CGM systems by leading market players restrain the market growth.

Market Segmentation

The Spain blood glucose monitoring market share is classified into device and distribution channel.

• The continuous blood glucose monitoring devices segment held the major share of the blood glucose monitoring market in 2023 and is anticipated to grow at the fastest CAGR during the forecast period.

The Spain blood glucose monitoring market is segmented by device into self-monitoring blood glucose devices and continuous blood glucose monitoring devices. Among these, the continuous blood glucose monitoring devices segment held the major share of the blood glucose monitoring market in 2023 and is anticipated to grow at the fastest CAGR during the forecast period. The increased adoption of continuous glucose monitoring in the country owing to the prevalence of diabetes is propelling the market expansion.

• The retail sales segment dominated the blood glucose monitoring market with a substantial market share in 2023 and is anticipated to witness a significant CAGR growth during the forecast period.

The Spain blood glucose monitoring market is segmented by distribution channel into institutional sales and retail sales. Among these, the retail sales segment dominated the blood glucose monitoring market with a substantial market share in 2023 and is anticipated to witness a significant CAGR growth during the forecast period. The growing initiatives by the key market players for expanding their retail channels in order to strengthen their positions are driving the blood glucose monitoring market.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Spain blood glucose monitoring market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Abbott Diabetes Care
• Roche Holding AG
• LifeScan
• Dexcom Inc.
• Medtronic PLC
• Arkray Inc.
• Ascensia Diabetes Care
• Agamatrix Inc.
• Bionime Corporation
• Acon Laboratories Inc.
• Trivida Functional Medicine       
• Senseonics
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In February 2024, Dexcom announced that it launched its latest continuous glucose monitor (CGM) system, the Dexcom ONE+. ONE+ uses Dexcom’s established sensor design, with the company incorporating feedback from users and healthcare professionals to build it.

Market Segment

This study forecasts revenue at Spain, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Spain blood glucose monitoring market based on the below-mentioned segments:

Spain Blood Glucose Monitoring Market, By Device

• Self-monitoring blood glucose devices
• Continuous blood glucose monitoring devices

Spain Blood Glucose Monitoring Market, By Distribution Channel

• Institutional Sales
• Retail Sales