According to the report Europe Glucose Monitoring Devices Market, published by Market Data Forecast, the global market is projected to reach USD 550 million by 2021, at a CAGR of 5.95% from 2016 to 2021.
Blood glucose level can be tested through glucose monitoring devices of several kinds which include glucose meter, testing strips and lancets. The device offers the facility of self-testing by using the single glucose meter and different strips. These devices consume less time, as compared to the glucose testing by customary methods in laboratories.
The devices allow the test to be performed by the patient as per their convenience at their home, which makes them popular. It offers the services of monitoring glucose level in our blood as it tests quantitatively. The market is dominated by the glucose monitoring strip devices in the year 2015 and also has the highest growth rate.
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Glucose Monitoring Devices Market: Drivers & Restraints
Among the key drivers of this market is the increase in the number of diabetic patients, which supports growth the of Europe SMBG devices market. Increasing health care expenditure is the direct cause for rising growth of the market of self-monitoring blood glucose devices. However, this market has certain losses due to some manufacturing defect or error in results. The increasing prevalence of diabetes cases is due to unhealthy lifestyle, poor diet, excess alcohol consumption, and lack of physical activity. Also, the high price of CGM’s (Continuous Glucose Monitoring Devices) restrains the growth of this market.
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Glucose Monitoring Devices Market: Segmentation
By Wearable Devices
By Self-Monitoring Devices
- Blood Glucose Meters
- Blood Glucose Strips
- Haemoglobin A1C testing Kits
- Diagnostic Centers
- Home Settings
- Ambulatory settings
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Glucose Monitoring Devices Market: Overview
With rising number of diabetes cases being recorded, it is important that patients around the world have their blood glucose level checked continuously in order to avoid the dangers of high glucose level like cardiovascular diseases, blood disorders, kidney disorder, blindness and many more. WHO estimates the incidence of diabetes in people over 18 years of age to have increase from 4.7% in 2012 to 8.5% by 2014. It also estimates diabetes and high blood pressure to be the 7th leading cause of death by 2030.
Glucose Monitoring Devices Market: Region-wise Outlook
Europe has rapidly aging demographics leading to the growth of this market in this region. It has the second largest market in the world for this market. Europe Glucose Monitoring Devices Market can be classified into UK, Germany, Italy, France, Spain and others. Germany has the largest market share in this region and also the fastest growing. Demographic shifts to older populations are driving this market in Europe. This industry is expected to grow steadily in the coming times.
Key Questions Answered
- What is the current and future Glucose Monitoring Devices market outlook in Europe? What trends are affecting the Europe market?
- What is the competitive landscape and market share of major players in the Glucose Monitoring Devices space in Europe?
- What are the key, high growth markets that Glucose Monitoring Devices manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Glucose Monitoring Devices currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Glucose Monitoring Devices?
- What are the challenges and barriers that have hindered widespread adoption of Glucose Monitoring Devices?
Glucose Monitoring Devices Market: Key Players
Key players in the market are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc, AgaMatrix Inc, Arkray Inc, Medtronic, DexCom Inc, Nova Biomedical Corporation and Teruma Europe NV.
Reasons to buy Glucose Monitoring Devices Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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