Glucose Monitoring consist of products that are essential for patients suffering diabetes. With the projected rise in aged population and awareness about such conditions, the market is focused on growing with newer technology and improved products. According to IQ4I analysis, the Glucose Monitoring global market is expected to grow at single digit CAGR to reach $11,248.5 million by 2023. Factors driving the Glucose Monitoring market are global rise in the prevalence and incidence of diabetes, continuous technological advancement, increasing demand for less invasive products, and increase in R&D investments are driving the market growth. Increase in obesity population due to lifestyle changes, increase in urbanization, untapped markets like Middle East, Africa shows that glucose monitoring market has vast opportunities in the coming years. Frequent product recalls i.e. glucose testing strips due to manufacturing defects or supply of expired test strips and less product differentiation among the self blood glucose monitors are the factors that are restraining the market growth. The limited reimbursement facilities and alternative treatments that include cell based assays, biomarkers identification and artificial pancreas and high cost associated with Continuous Glucose Monitoring (CGM) are threats for the market growth.
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Glucose Monitoring global market is classified based on products, sample type, end-users and geography. The products segment is divided into three segments i.e., Invasive, Non-Invasive and lab based glucose monitoring products. The Invasive glucose monitoring products segment accounted the largest share in 2016 due to technological advancements, easy use, patient friendly etc. Invasive products are classified into Self glucose monitoring and continuous glucose products. The self glucose monitoring segment accounted the largest share in 2016 due to development of minimally invasive products. The Self glucose monitoring products are further classified into blood glucose monitors, blood glucose test strips, lancets and others. The blood glucose testing strips segment accounted for the largest share in 2016 due development of no coding strips. The continuous glucose monitoring market includes sensors/receiver and transmitter. The continuous glucose market includes products sensors/receiver and transmitter. Continuous glucose segment is fastest growing segment and is projected to grow at a strong CAGR of XX% from 2016 to 2023.
Based on sample type the market is segmented into blood, urine and others. The blood segment accounted the largest share in 2016 and is projected to grow at a CAGR of 0.3% from 2016 to 2023 due to the accuracy of results. Other source based glucose monitoring segment is fastest growing segment and is projected to grow at a strong CAGR of XX% from 2016 to 2023 due to increases R & D investment, many product are CE approved and expected launch very soon in market.
Based on end users the market is segmented into hospitals, private clinics, home care and ambulatory settings. Among end-users, home care segment accounted for the largest share in 2016 and is projected to grow at a strong CAGR of X% from 2016 to 2023 due to availability of self blood monitor over the counter and ease in operating these monitors and thereby reduces dependence on any clinics for glucose check.
Based on geography the market is segmented into North America (U.S. and Others), Europe (Germany, France, U.K. and Others), Asia-Pacific (Japan, China, India and Others) and Rest of the World (Brazil, Middle East & others and Rest of Latin America). North America accounts for the highest market share of XX% followed by Europe. The steep rise in aging population, advancement in technology, awareness of people about treatment options and favorable government policies are driving factors of glucose monitoring market. However, Asian countries especially India and China are the fastest growing regions with its growing demand for glucose monitoring products.
Major players in Glucose monitoring market include Roche (Switzerland), Dexcom (U.S.), B. Braun Melsungen AG (Germany), Medtronic, Inc. (Ireland), Johnson & Johnson (U.S.), Abbott Laboratories (U.S.), AgaMatrix (U.S.), Arkray (Japan), Ascensia (Switzerland), Trividia Health, Inc (U.S.) etc.
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The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
- North America
- Rest of the World (RoW)
o Rest of Latin America
o Middle-East (Middle East & Others)
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