The report for Global Diabetes Monitors Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. Outlet till 2023
Diabetes Monitors Market – Insights
Diabetes is a metabolic disease that occurs when blood glucose level is too high either due to inadequate insulin production or because of low response towards insulin. The three most common type of diabetes are Type 1, Type 2, and gestational diabetes.
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Other less common type includes cystic fibrosis-related diabetes, and monogenic diabetes. The frequent blood glucose monitoring is critical for diabetic management, as the maintenance of standard glucose level, i.e. 4–8 mM, is the only way that a diabetic person can lead a healthy lifestyle. It is estimated that diabetes monitors market is expected to grow at a CAGR of 8.3% during the forecast period 2017-2023.
Further The Food and Drug Administration (FDA), and other government bodies are establishing a new standard for diabetes monitors accuracy. The FDA standard is majorly driven by technological advances, improved meter accuracy, reports of hospital and outpatient deaths, research studies, and consumer complaints about product. Due to increasing incidence rate of diabetes, competition among blood glucose monitor manufacturers is also rising. Existing and new marketers are continuously coming up with innovative products to meet the proposed FDA guidelines.
Key Players:
LifeScan
Panasonic
Dexcom
Abbot Laboratories
F.Hoffmann La-Roche
Medtronic and Sanofi.
Diabetes Monitors Market – Segmentation:
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.
Diabetes Monitors Market – Regional Analysis:
The global diabetes monitors market is segmented on the basis of regions: America, Europe, Asia Pacific, and the Middle East & Africa. The Americas accounts for the major share of the market owing to the increasing prevalence of diabetes mellitus (DM), well-developed technology, and high healthcare expenditure. Europe accounts for the second largest market, which is followed by Asia Pacific. Increasing government support for research & development, well-developed healthcare infrastructure, and presence of geriatric population have driven the diabetes monitors market in Europe. Asia Pacific is the fastest growing diabetes monitors market due to rapidly changing healthcare sector, and the presence of huge opportunities for the development of this market. However, the Middle East & Africa has the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. The Middle East holds the major share of the regional market due to well-developed technology and high spending.
Moreover Across the globe, health systems are developing in response to multiple factors such as new medical technology, new health services, changes in health policies, new organizational structures, innovations in drug development, and greater access to health services.
According to the WHO, Diabetes and its related complications lead to the substantial economic loss to diabetic people and to national economies through loss of work and wages, and direct medical costs. Whereas hospital and outpatient care are the major cost drivers.
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