The global Blood Glucose Monitoring (BGM) Market is anticipated to grow at a significant rate in the forecast period owing to rising prevalence of diabetes and increase in adoption of continuous sugar surveillance systems. Regular monitoring of blood sugar levels is both clinically and economically beneficial and vital for proper diabetes diagnosis and treatment. It also helps in preventing related health conditions including diabetic retinopathy, neuropathy, and cardiovascular diseases. There are various types of monitors available in the market which is ranging in price, size, ease of use, the length of testing time and portability.
The glucose monitoring devices market is a very profitable market with a tremendous development potential owing to continuous technological advancement in these devices, the rapid increase in aging population, the convenience of continuous sugar monitoring over conventional monitoring, increasing the number of diabetic patients and early detection of hypo and hyperglycemic diabetes. Growth in this segment is expected to owe to rising use such devices by healthcare professionals to monitor real-time blood sugar levels for better management of diabetes. Increased patient awareness and concern about the sugar level has increased the number of self-monitoring blood sugar users.
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Key industry players include Life scan Inc. and Roche Diagnostic. New players are encouraged owing to innovative technologies and clinically beneficial CGM technology. Though these new players currently occupy a small share of the overall market, uptake of CGM technology is expected to cause a significant shift in market share.
Key players include Becton, Dickinson and Co., Terumo Corporation, Acon Laboratories Inc., Roche Diagnostics Ltd., Johnson & Johnson, ARKRAY Inc., Novo Nordisk A/S, Medtronic, Abbott Laboratories, Bayer AG, Ypsomed AG and Sanofi.
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