Market Research Future (MRFR) asserts that the Global Blood Glucose Monitoring Market is predicted to garner 7.1% CAGR during the forecast period (2017-2023). Global Blood Glucose Monitoring Market Information: By Product Type (Invasive Glucose Monitoring, CGM, Flash Glucose Monitoring), Application (Type 1 Diabetes, Type 2 Diabetes), & End User (Diagnostic Centers, Hospitals, Clinics) – Forecast till 2023
Blood Glucose Monitoring can be defined as the process of testing the diabetes level in the blood. The devices help to identify the blood glucose level within the specific target range. The monitoring devices help to track the progression of treatment and observe the effects of medication on blood sugar level. The surging prevalence of diabetes is likely to favour the market growth in the coming years.
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Global Blood Glucose Monitoring Market – Competitive Dashboard
The prominent players operating in the Blood Glucose Monitoring Market comprises Arkay Inc. (U.S.), Abbott Laboratories (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Bayer Healthcare AG (Germany), GlySure Ltd (U.K), Goldsite Diagnostics Inc., Dexcom Inc. (U.S.), Sphere Medical Holding plc. (U.K), and LifeScan Inc. (U.S.).
April 16, 2019
A world leader in blood glucose monitoring, LifeScan Inc. has recently announced the latest OneTouch Verio Reflect system which has received the Health Canada’s authorization for sale. It is the only blood glucose monitoring system which comprises new Blood Sugar Mentor messages, analyzes and also informs the patients regarding blood glucose trend and offers them with personalized guidance regarding the causes of hyperglycemia.
Global Blood Glucose Monitoring Market – Regional Insights
Geographically, the Blood Glucose Monitoring Market span across regions namely, Asia Pacific, America, Europe, and the Middle East & Africa.
Considering the global scenario, the American region is estimated to command the largest market share and is likely to maintain its pole position in the coming years. The growth has been ascribed to the surging incidences of obesity, physical inactivity, and unhealthy diet. As per the D, in 2015 the incidences of diagnosed as well as undiagnosed diabetes population were 30.3 million of the total US population. Owing to the presence of high healthcare spending, presence of a well developed technology, concentration of prominent market players, and rising R&D activities, the market is experiencing an upsurge.
The European region is likely to occupy the second spot in the global market due to environmental pollutants, sociological deprivation, and psychological factors. Moreover, government support for R&D activities coupled with the high availability of funds for research has further boosted the market growth across the globe.
The Asia Pacific region is estimated to expand at the fastest rate due to surging geriatric population, changing lifestyle, and urbanization. The rapidly developing healthcare technology, increasing expenditure on healthcare, high concentration of prominent companies, and surging R&D activities are some of the top factors likely to offer the market a boom. The surging demand for new treatment technologies especially in the economies like South Korea and India is further estimated to contribute to the market growth. As per the International diabetes federation, there were approximately 69.1 million suffering from diabetes.
Global Blood Glucose Monitoring Market – Segmental Analysis
The Global Blood Glucose Monitoring Market has been segmented on the basis of application, product type, and end user.
By mode of product type, the global blood glucose monitoring market has been segmented into continuous glucose monitoring devices (CGM), invasive glucose monitoring devices, flash glucose monitoring devices, and others. Among these, the continuous glucose monitoring devices is likely to gain prominence in the coming years owing to the increased adoption of minimally invasive procedures.
By mode of application, the global blood glucose monitoring market has been segmented into type 1 diabetes, type 2 diabetes, and others. Among these, the type 2 diabetes is likely to command the major share in the global market due to the rising prevalence of type 2 diabetes and growing innovative product launches with less invasive techniques.
By mode of end users, the global blood glucose monitoring market has been segmented into hospitals, diagnostic centers, research centers, clinics, and home care diagnostics. Among these, the home care diagnostics is likely to gain prominence owing to the surging diabetic population, rising awareness regarding regular monitoring of the glucose levels, and growing product launches which enhances the patient comfort at home.
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