The United States blood glucose meter market is poised to register a significant growth rate during the forecast period 2020-2027.
Blood glucose meter is a small medical device that detect the glucose concentration in the blood, which helps in monitoring the diabetes level in a patient.
Factors such as large patient pool of diabetes and rapid uptake of innovative, user-friendly and technologically advanced products are expected to drive the market growth.According to a data published by the Centers for Disease Control & Prevention (CDC) in February 2020, in the United States, 34.2 million people suffered from diabetes, i.e. 10.5% of the population of the country. Furthermore, as per a data published by the American Diabetes Association, diabetes caused around 83,564 deaths in the United States in the year 2017.Other factors responsible for the market growth include increasing geriatric population, supportive government initiativesand growing healthcare expenditure
However, lack of awareness regarding the usage of blood glucose meters, availability of alternatives for determining blood glucose level, and stringent government regulations for product approvals, is expected to negatively impact the market growth during the forecast period.
The United States blood glucose meter market is witnessing an emerging trend of using minimally-invasive and non-invasive devices. Companies have an opportunity to invest in the development of such products.
The Food and Drugs Administration (FDA) in April 2019 issued guidelines for the usage of test strips in the blood glucose meters. It warned the patients against using previously used test strips or unauthorized test strips in the region. Additionally, in March 2013, Medicare in the US reduced reimbursement for diabetes testing supplies up to 72%.
Key market players covered in the report includeF. Hoffmann – La Roche Ltd (Switzerland), Life Scan, Inc. (US), Arkray, Inc. (Japan), ForaCare (US), AgaMatrix, Inc. (Germany), Entra Health (US), Fifty50 Medical (US), iHealth Labs (US), Oak Tree Health (US), Livongo Health (US), Dario Health (Israel), One Drop (US), Sanofi (France), BioTel Care (US), Walgreens (US), U.S. Diagnostics (US),Omnis Health (US), Nova Diabetes Care (US), Trividia Health, Inc. (US), Simple Diagnostics (US), Smart Meter LLC (US),Ascensia Diabetes Care (Switzerland), Abbott (US), Genesis Health Technologies (US), Prodigy Diabetes Care, LLC (US), and others. These companies are involved in product approvals, mergers, and acquisitions to gain a competitive edge over the other market players. For instance, in June 2020, the FDA approved Abbott’s FreeStyle Libre 2 integrated continuous glucose meter for children aged 4 years and older. With this, Abbott expanded its product portfolio and strengthened its base in the continuous monitoring of blood glucose meters. Moreover, in February 2018, F. Hoffmann-La Roche Ltd. launched the first mass market glucometer for affordable diabetes monitoring. The glucometer is named Acc-Chek Instant S and it’s an addition to company’s product portfolio. Furthermore, in June 2017, F. Hoffmann-La Roche Ltd.acquired mySugr GmbH, Austria-based mobile diabetes platforms. This acquisition made mySugr GmbH an integral part of Roche’s new patient-centered digital health services platform in diabetes care. With this, F. Hoffmann-La Roche Ltd. expanded its position in the area of diabetes management.
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