Market Research Future (MRFR)’s Released “Global Diabetes Monitors Market Research Report”. It contains Company information, geographical Segmentation, in-depth Table of Content, and List of figures, data tables, Various Company Leaders & market synopsis up to 2023
Global Diabetes Monitors Market – Scenario
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. 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
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.
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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. In recent years various new glucose monitoring devices have been approved by FDA and European regulatory bodies such as DexCom G4 Platinum, Medtronic Diabetes Guardian Real-Time, Abbott Freestyle Libre, GMate Smart Blood Glucose Monitoring System by Philosys, Artificial pancreas system, and many others.
Thus, development of new devices may emerge as the new revenue pockets for the growth of this market. Also Obesity directly contributes to the risk for diabetes. According to 2016 WHO report, more than 1.9 billion adults, were overweight and of these over 650 million were obese. In North American and Europe rate of obesity is highest among lower-income population, who live in urban areas are littered with fast-food outlets. In the Asia-Pacific region, obesity is highly prevalent in urban residents and then in rural areas and urban slums. Obesity is caused due to diet imbalance, Genetics etc. are leading to various risk factors for diabetes, high blood pressure, heart disease and other health problems. Risk factors of diabetes and high blood pressure are increasing steadily with rise in prevalence of obesity. Thus the increasing prevalence of obesity globally, offers a great opportunity for the growth of the global diabetes monitors market.
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.
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