The rising geriatric population and increasing awareness regarding diabetes is predicted to expand market growth.
Demand for blood glucose meters is driven by sales of blood meters used to calculate and display the amount of blood sugar levels. The main factor boosting market demand is the rising prevalence of diabetes.
According to a report by the International Diabetes Federation in 2017, diabetes is predicted to rise by 48% by 2045. In 2016, WHO declared that about 1.6 million deaths were caused by diabetes. Change in lifestyle, growing alcohol consumption, unhealthy intake of foodstuff, and physical inactivity are some of the factors responsible for market expansion.
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Diabetes is considered as one of the most significant chronic disorders. Thus, glucose meters are used to monitor and maintain glucose levels in the blood. Blood glucose meters are available in a variety of sizes, right from basic models to advanced meters with various options and features, price, length and even testing time.
The increasing number of diabetic patients and the accuracy and reliability of blood glucose monitoring devices are the significant driving factors for the glucose meter market. The early detection of hypoglycaemia and hyperglycaemia and technological advances is increasing the market demand.
The invasive blood monitoring technique is less painful as compared to the conventional invasive method. Due to this, there has been a tremendous demand and introduction of new non-invasive glucose meters. For instance, in 2018, DiaMonTech GmbH introduced a shoe-sized device to diagnose blood glucose levels.
The high costs of a few advanced glucose meters is the only factor that can impact the overall growth of the glucose meter market.
North America dominated the glucose meter market in 2018 and is expected to maintain its dominance in the upcoming years. The increasing diabetic population and adoption of innovative and novel blood glucose meters are expected to drive the market in this region along with the rising number of diabetes patients.
Key findings in the report:
- Based on the product type, Self-glucose monitoring led to the highest market share in 2019 due to easy self-monitoring. In continuous glucose monitoring the senor is implanted under the skin to provide continuous monitoring after specified intervals.
- By type, wearable continuous monitoring is estimated to be in demand due to the ease of application of continuous blood glucose meters. This sector is predicted to have the largest market share during the forecast period.
- North America dominated the glucose meter market in 2018 and is expected to maintain its dominance in the upcoming years. The increasing diabetic population and adoption of innovative and novel blood glucose meters are expected to drive the market in this region along with the rising number of diabetes patients.
- The Asia Pacific region is expected to witness the highest CAGR during the projected period due to the increasing usage of glucose monitors, rising awareness among patients, and growing per capita healthcare expenditure.
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Key players in the glucose meter market:
- I-SENS, Inc
- Infopia Co., Ltd
- Hainice Medical Inc
- All Medicus Co,Ltd
- 77 Elektronika Müszeripari Kft
- Delta Group
- Ok Biotech
- Nova Biomedical(USA)
- Oak Tree Tree Health, Inc.(USA)
- Omnis Health(USA)
- Simple Diagnostics(USA)
- US Diagnostics(USA)
- SD Biosensor
- Terumo Corporation
- Homemed (Pty) Ltd(South Africa)
- Yuwell Medical
The Glucose Meter Market is further segmented based on type, product, application, and region.
- Continuous glucose monitoring devices
- Self-monitoring blood glucose systems
- Home Care
- Rest of EU
- Rest of APAC
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Table of Contents
1 Market Overview
1.1 Glucose Meter Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.3.2 Home Care
1.4 Market Analysis by Regions
1.4.1 North America (USA, Canada and Mexico)
220.127.116.11 USA Market States and Outlook (2012-2022)
18.104.22.168 Canada Market States and Outlook (2012-2022)
22.214.171.124 Mexico Market States and Outlook (2012-2022)
1.4.2 Europe (Germany, France, UK, Russia and Italy)
126.96.36.199 Germany Market States and Outlook (2012-2022)
188.8.131.52 France Market States and Outlook (2012-2022)
184.108.40.206 UK Market States and Outlook (2012-2022)
220.127.116.11 Russia Market States and Outlook (2012-2022)
18.104.22.168 Italy Market States and Outlook (2012-2022)
1.4.3 Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
22.214.171.124 China Market States and Outlook (2012-2022)
126.96.36.199 Japan Market States and Outlook (2012-2022)
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