Diabetes Monitors Market is expected to grow at a CAGR of 8.3% during the forecast period 2017-2023. Diabetes mellitus is a chronic disease resulting from an inadequacy of insulin in the body. The condition causes either elevated blood-glucose concentrations, named as hyperglycaemia, or low glucose level known as hypoglycaemia. Monitoring glucose level is expected to prolong life expectancy as it enables the management of hypo- or hyperglycaemia. Self-monitoring method is most commonly used to check blood glucose level.
Diabetes Monitors Market Key Players are:
F. Hoffmann-La Roche Ltd
Inc., Sanofi, and others.
The method involves sampling blood from a finger or any other body part, to be analyzed with the help of test strips and a glucometer. Although blood remains the most commonly used sample, other biological fluids such as ocular fluid, sweat, breath, interstitial fluid, saliva or urine can also be used as an alternative samples for non-invasive continuous monitoring. As a cure for diabetes is yet to be developed so, managing this condition is the most successful means for its control. Glucose monitoring is used to optimize treatment strategies, and provide an insight to the effect of diet, medications, and exercise on the patient.
The global diabetes monitors market is segmented on the basis of sample, type, component, and end-users. On the basis of sample, the market is segmented into blood samples, sweat samples, urine samples, and others. On the basis of type, the market is classified into point sample test based glucose monitors, continuous glucose monitors, and enzyme free sensor based glucose monitors. Continuous glucose monitors are further segmented into disposable sensor based CGM, and re-usable sensor based CGM. On the basis of components, the market is classified into lancet, glucose test strips, and sensors. Sensors are further segmented into enzyme-based sensors, and enzyme-free sensors. On the basis of end -users, the market is segmented into diagnostic clinics, hospitals, and home.
- The global diabetes monitors market is expected to reach USD 17458.1 million by 2023 at a CAGR of 8.3%.
- On the basis of sample, blood sample market is expected to command the largest market share of 75.70% over the review period and it is also expected to grow at the fastest CAGR of 8.6% during the forecast period 2017-2023
- The Americas hold the largest share of the diabetes monitors market and is expected to reach USD 6623.4 million by 2023
- Asia Pacific is the fastest growing market, which is expected to grow at a CAGR of 8.9% over the 2017-2023
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The Americas dominate the diabetes monitors market owing to the presence of patient population, a well-developed technology, high healthcare expenditure, and the presence of the leading players. Due to high prevalence of the condition, companies, private organization, and government associations actively participates to improve diabetes care. For instance, The Merck Foundation provided funding of USD 10,000,000 for the projects designed to improve access to diabetes care and to reduce health disparities for vulnerable populations with type 2 diabetes in the United States.
Europe holds the second position in the diabetes monitors market. It is expected that the support provided by the government bodies for research & development, along with a well-developed technology drives the market in European region. According to the German maternity guidelines, every pregnant women can undergo glucose-challenge test for early diagnosis of Gestational diabetes mellitus (GDM). The charges for the test are completely covered by women’s health insurance.
List of Tables:
TABLE 1 GLOBAL DIABETES MONITORS MARKET,BY SAMPLE USD MILLION 2014-2023 41
TABLE 2 GLOBAL DIABETES MONITOR MARKET FOR BLOOD SAMPLE USD MILLION 2014 – 2023 42
TABLE 3 GLOBAL DIABETES MONITOR MARKET FOR SWEAT SAMPLE USD MILLION 2014 – 2023 43
TABLE 4 GLOBAL DIABETES MONITORS MARKET BY TYPE USD MILLION 2014 – 2023 45
TABLE 5 GLOBAL CONTINUOUS GLUCOSE MONITORS MARKET BY TYPE USD MILLION 2014 – 2023 46
TABLE 6 GLOBAL DIABETES MONITOR MARKET FOR POINT SAMPLE TEST BASED GLUCOSE MONITORS
USD MILLION 2014 – 2023 47
TABLE 7 GLOBAL DIABETES MONITOR MARKET FOR CONTINUOUS GLUCOSE MONITORS
USD MILLION 2014 – 2023 47
TABLE 8 GLOBAL DIABETES MONITOR MARKET FOR ENZYME FREE SENSOR BASED GLUCOSE MONITORS
USD MILLION 2014 – 2023 48
TABLE 9 GLOBAL DIABETES MONITORS MARKET BY COMPONENTS USD MILLION 2014 – 2023 49
TABLE 10 GLOBAL DIABETES MONITORS SENSORS MARKET BY TYPE USD MILLION 2014 – 2023 50
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