Russia Self-monitoring Blood Glucose Devices Market Size
| Study Period | 2018-2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 226.17 Million |
| Market Size (2029) | USD 293.93 Million |
| CAGR (2024 - 2029) | 5.38 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Russia Self-monitoring Blood Glucose Devices Market Analysis
The Russia Self-monitoring Blood Glucose Devices Market size is estimated at USD 226.17 million in 2024, and is expected to reach USD 293.93 million by 2029, growing at a CAGR of 5.38% during the forecast period (2024-2029).
Diabetes patients were at a higher risk of being extremely unwell if infected with the virus during the COVID-19 pandemic. Diabetes was a risk factor for developing severe and critical forms of infection and was among the most frequently reported comorbidities in patients infected with COVID-19. Obesity, the main risk factor for incident type-2 diabetes, was more common in patients with critical forms of COVID-19 requiring invasive mechanical ventilation. As a result, the demand for self-monitoring blood glucose devices to monitor and maintain optimum blood glucose levels increased during the pandemic.
The measurement of blood glucose is necessary to keep the blood glucose levels within a specified target range. Blood monitoring glucose devices help understand the effectiveness of blood glucose metabolism and guide in achieving optimal glucose control within the body. Self-monitoring blood glucose devices allow a patient to check their blood glucose levels as often as they need to or as recommended by their doctor. Over time, the readings provide the patient and their health professionals with the information required to determine the best management strategy for diabetes.
According to the Diabetes UK report on diabetes in Russia published in September 2022, about fifty percent of diabetes cases are undiagnosed. The gaps in diabetes management by undiagnosed patients are expected to be filled through government support and initiatives over the forecast period. The growing diabetic population is expected to act as a driver for diabetes care devices. In obese individuals, the fat cells in the body release pro-inflammatory chemicals, which may make the body less sensitive to the insulin it produces by disrupting the function of insulin-responsive cells. Thus, these individuals need external insulin shots and must use a monitoring device, such as a glucometer. Technological advancements have increased over the period in Diabetes care devices for safer and more accurate administration of insulin. These therapies are only possible through proper Self-monitoring of blood glucose devices and self-care.
Russia Self-monitoring Blood Glucose Devices Market Trends
Rising diabetes prevalence
In Russia, the diabetes population is expected to increase by 6.4% over the forecast period.
According to the Diabetes UK 2022 estimates, Russia may be placed the third number in the register of countries with the highest number of diabetics in the world, with an estimated 9,613 thousand cases. The Russian Government instructed the Cabinet to launch a large-scale program to combat diabetes in 2023 by the Council for Strategic Development and National Projects.
In 2022, the Federal Project Combating diabetes mellitus 2023鈥�2030 was developed and submitted for approval to the Government of Russia, which is expected to significantly improve the practice of working with patients with diabetes mellitus, ensuring maximum access to medical care, including in updated and technologically re-equipped regional endocrinology centers, Diabetic Foot rooms, diagnostic laboratories, new forms of communication with patients, including the use of personal physician assistants.
Diabetes poses an emerging healthcare burden across the country and is one of the leading causes of premature death, morbidity, and loss of economic growth. Technological development is gaining momentum in the glucose monitoring market. Over the years, several technological innovations have been developed that have led to the creation of new types of devices that are much less cumbersome and more comfortable for patients compared to traditional ones. Such advantages have helped the rise in the adoption of these products in the market.
The Glucometer Devices Segment is expected to register the highest CAGR over the forecast period
The glucometers segment is expected to register for the highest CAGR of about 6.25% in the market over the forecast period owing to the increasing adoption of glucometers in home care settings, growing preference for home-based self-monitoring, and recent product launches of advanced glucometers.
Glucose monitoring gives people living with diabetes a more complete picture of their blood sugar levels, which can influence short- and long-term treatment decisions and improve health outcomes. It allows them and their healthcare providers to assess the glycemic status and adverse effects and to determine the effectiveness of glucose-lowering therapies. Glucose monitoring improves blood sugar management and quality of life for people living with diabetes, resulting in physical, social, emotional, and functional benefits. Self-monitoring of blood glucose is a way for people living with diabetes to measure and assess their glucose levels. It uses a drop of blood from a finger prick to get blood glucose readings using a blood glucose meter or glucometer.
According to the Federal Law of the President of the Russian Federation dated December 5, 2022, on the federal budget for 2023 and for the planning period of 2024 and 2025 approved the financing of activities in a separate line within the framework of the federal project Combating diabetes mellitus for 2023鈥�2025. Diabetes is a costly chronic illness that needs control of blood sugar levels using medical devices. The Government of Russia is strategically planning to contain the growing burden of diabetes and invest to control it. Thus, with the rising prevalence, the market for self-monitoring blood glucose devices is expected to grow in Russia over the forecast period.
Russia Self-monitoring Blood Glucose Devices Industry Overview
The Russian self-monitoring blood glucose devices market is fragmented, with few significant and other generic players. Manufacturers like Abbott, LifeScan, Ascensia, etc. occupy a major share.
Russia Self-monitoring Blood Glucose Devices Market Leaders
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Abbott
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Lifescan
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Roche
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i-Sens
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Ascensia
*Disclaimer: Major Players sorted in no particular order
Russia Self-monitoring Blood Glucose Devices Market News
- May 2023: LifeScan announced positive data from a study of real-world evidence supporting its Bluetooth-connected blood glucose meter. Evidence from more than 55,000 people with diabetes demonstrated sustained improvements in readings in range. The analysis focuses on changes over 180 days. LifeScan published results in the peer-reviewed journal Diabetes Therapy. The company鈥檚 OneTouch Bluetooth-connected blood glucose meter and mobile diabetes app provide simplicity, accuracy, and trust.
- January 2023: LifeScan announced that the peer-reviewed Journal of Diabetes Science and Technology published Improved Glycemic Control Using a Bluetooth Connected Blood Glucose Meter and a Mobile Diabetes App: Real-World Evidence from Over 144,000 People with Diabetes, detailing results from a retrospective analysis of real-world data from over 144,000 people with diabetes 鈥� one of the largest combined blood glucose meter and mobile diabetes app datasets ever published.
Russia Self-monitoring Blood Glucose Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component
5.1.1 Glucometer Devices
5.1.2 Test Strips
5.1.3 Lancets
6. MARKET INDICATORS
6.1 Type-1 Diabetes population
6.2 Type-2 Diabetes population
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Abbott Diabetes Care
7.1.2 Roche Holding AG
7.1.3 LifeScan
7.1.4 Trividia Health
7.1.5 Ascensia Diabetes Care
7.1.6 Acon Laboratories Inc.
7.1.7 Agamatrix Inc.
7.1.8 Bionime Corporation
7.1.9 Sinocare
7.1.10 Arkray Inc.
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
7.2.1 Abbott Diabetes Care
7.2.2 Roche Holding AG
7.2.3 LifeScan
7.2.4 Other Company Share Analyses
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Russia Self-monitoring Blood Glucose Devices Industry Segmentation
Self-monitoring blood glucose devices are used for measuring the concentration of glucose in the blood for effective diabetes management. The Russian market for self-monitoring blood glucose devices is segmented into components (glucometer devices, test strips, and Lancets).
The report offers the value (in USD) and volume (in Units) for the above segments.
| Component | |
| Glucometer Devices | |
| Test Strips | |
| Lancets |
Russia Self-monitoring Blood Glucose Devices Market Research FAQs
How big is the Russia Self-monitoring Blood Glucose Devices Market?
The Russia Self-monitoring Blood Glucose Devices Market size is expected to reach USD 226.17 million in 2024 and grow at a CAGR of 5.38% to reach USD 293.93 million by 2029.
What is the current Russia Self-monitoring Blood Glucose Devices Market size?
In 2024, the Russia Self-monitoring Blood Glucose Devices Market size is expected to reach USD 226.17 million.
Who are the key players in Russia Self-monitoring Blood Glucose Devices Market?
Abbott, Lifescan, Roche, i-Sens and Ascensia are the major companies operating in the Russia Self-monitoring Blood Glucose Devices Market.
What years does this Russia Self-monitoring Blood Glucose Devices Market cover, and what was the market size in 2023?
In 2023, the Russia Self-monitoring Blood Glucose Devices Market size was estimated at USD 214.00 million. The report covers the Russia Self-monitoring Blood Glucose Devices Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Russia Self-monitoring Blood Glucose Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Russia Self-monitoring Blood Glucose Devices Industry Report
Statistics for the 2024 Russia Self-monitoring Blood Glucose Devices market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Russia Self-monitoring Blood Glucose Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
