Saudi Arabia Blood Glucose Monitoring Devices Market To Reach $148.19 Million By 2030

Saudi Arabia Blood Glucose Monitoring Devices Market Growth & Trends

The Saudi Arabia blood glucose monitoring devices market size is anticipated to reach USD 148.19 million by 2030, growing at a CAGR of 8.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Technological advancements, the growing prevalence of diabetes in the country, and an aging population are the primary factors contributing to the market growth. Technological advancements and the growing emphasis on R&D activities in blood glucose monitoring devices in the country are expected to contribute to the market growth. For instance, in January 2024, King Abdullah University of Science and Technology (KAUST) and Saudi health tech firm amplifAI health collaborated to develop an innovative diabetes detection system. 

Advancements in blood glucose monitoring (BGM) technology have significantly enhanced the monitoring experience for individuals with diabetes in Saudi Arabia. Modern BGM devices now come equipped with features such as wireless connectivity, smartphone integration, and continuous glucose monitoring (CGM) capabilities, providing users with convenient, accurate, and accessible tools to track their glucose levels more effectively. This empowers individuals to make informed decisions about their health and manage their condition with greater confidence.

Moreover, expanding healthcare infrastructure, including the proliferation of hospitals, clinics, and pharmacies, has played a crucial role in improving access to BGM devices across the country. This increased availability in Saudi Arabia ensures that individuals with diabetes have easier access to the necessary tools for monitoring and managing their condition, promoting better overall health outcomes.

Companies within the market are actively enhancing their product offerings by upgrading existing products, fostering strategic collaborations, exploring potential acquisitions, and seeking necessary government approvals. These efforts aim to expand their customer base and gain a larger share of the market. For instance, in April 2022, Medtronic collaborated with GE Healthcare to address the distinct needs and demand for care at ambulatory surgery centers and office-based laboratories. Customers can access a wide range of products, financial solutions, and service excellence through this new alliance.

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Saudi Arabia Blood Glucose Monitoring Devices Market Report Highlights

• In 2023, self-monitoring devices segment dominated the product segment by capturing a share of 67.1%. The level of convenience and easy accessibility of these devices are considered to boost the segment growth

• The continuous glucose monitoring devices segment is anticipated to grow at the fastest CAGR during the forecast period

• Among end-use, hospitals held a majority share of the market of 41.8% in 2023 due to increasing geriatric population and hospital admissions

• Home care segment is expected to grow at the fastest CAGR over the forecast period due to technological advancements leading to the easy usage of blood glucose monitoring devices

Saudi Arabia Blood Glucose Monitoring Devices Market Segmentation

Grand View Research has segmented the Saudi Arabia blood glucose monitoring devices market based on product and end-use:

Saudi Arabia Blood Glucose Monitoring Devices Product Outlook (Revenue, USD Million, 2018 - 2030)

• Self-monitoring Devices

  • Blood Glucose Meters

  • Testing Strips

  • Lancets

• Continuous Glucose Monitoring Devices

  • Sensors

  • Transmitter & Receiver

  • Insulin Pumps

Saudi Arabia Blood Glucose Monitoring Devices End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Homecare

• Diagnostic Centers

List of Key Players in the Saudi Arabia Blood Glucose Monitoring Devices Market

• Medtronic plc

• Abbott Laboratories

• F. Hoffmann-La Roche Ltd

• Bayer AG

• Lifescan, Inc.

• Dexcom Inc.

• Insulet Corporation

• Sanofi

• Novo Nordisk A/S