Overview of the Blood Glucose Monitoring System Market:
Blood glucose monitoring is simply the utilization of a particular glucose meter for analyzing the concentration of sugar in the blood. Particularly vital in diabetes management, a blood glucose monitor is typically carried out by puncturing the patient’s skin with a needle, then drawing blood into a chemically inactive disposable ‘test strip’ by applying pressure to the strip. Once these blood draws have been completed and processed, the analyzer will electronically read the results, which may range from a low blood sugar level to a high blood sugar level. In addition to this, the results can also show us whether the blood sugar level is correlated to changes in our bodily characteristics such as our body temperature, heart rate, or muscle activity.
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Blood Glucose Monitoring System Market – Dynamics
High prevalence of diabetes is expected to propel the growth of the global blood glucose monitoring system market over the forecast period. For instance, the economic burden associated with diagnosed diabetes, undiagnosed diabetes, prediabetes (adults), and gestational diabetes (mothers and newborns) reached US$ 327.2 billion, US$ 31.7 billion, US$ 43.4 billion for prediabetes, and US$ 1.6 billion for gestational diabetes, respectively, in 2017, in the U.S., according to a study published in the journal Diabetes Care in April 2019.
Moreover, the increasing geriatric population is also expected to aid in the growth of the global blood glucose monitoring system market. For instance, according to United Nations Population Fund, the geriatric population in the Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.
Major players operating in the global blood glucose monitors market are focused on the approval and launch of new products to expand their product portfolio. For instance, in August 2021, Smart Meter launched iGlucose monitor that can test, monitor, and manage blood glucose levels for people with gestational diabetes.
Blood Glucose Monitoring System Market – Key Takeaways
High prevalence of diabetes is expected to propel the growth of the global blood glucose monitoring system market over the forecast period
Major players operating in the global blood glucose monitoring system market are focused on adopting new distributions channels to enhance their market share. For instance, in April 2021, DexCom, Inc. ended its distribution collaboration with Zkope Healthcare and started selling the Dexcom G6 CGM system directly throughout the Netherlands.
Blood Glucose Monitoring System Market – Key Players
Major players operating in the global blood glucose monitoring system market include Abbott Laboratories, F. Hoffmann-La Roche, Lifescan, Ascensia Diabetes Care, Dexcom, Medtronic Plc, Ypsomed, B. Braun Melsungen, Nipro, Sanofi, Arkray, Terumo Corporation, Prodigy Diabetes Care, Acon Laboratories, and Nova Biomedical
COVID-19 Impact:
The updated report, free extract available, comes with an option to access premium features that covers extensive past, current, and future data. Other valuable updates to the global Blood Glucose Monitoring System Market report include a reviewed and refined pricing model for manufacturing and launch prices. The report incorporates new content to help give decision-makers key knowledge about the market and offers up-to-date forecasts accounting for the economic situation and impact of COVID-19.
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2028. For the purpose of this study, Stratagem Market Insights has segmented the global Blood Glucose Monitoring System Market report on the basis of Types, Applications, and Regions.
By Product Type, the market is primarily segmented into:
- Self-Monitoring
- Continuous Glucose Monitoring Devices
By Applications, the market is segmented into:
- Household
- Hospital
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Blood Glucose Monitoring System Market – Key Findings
- The report provides an extensive analysis of the current and emerging Blood Glucose Monitoring System market trends and dynamics.
- Depending on the Blood Glucose Monitoring System market, the segments dominated the market of the Blood Glucose Monitoring System, in terms of revenue in 2020 and are projected to grow at a CAGR xx% during the forecast period.
- By business, the sale segment led the Blood Glucose Monitoring System market in 2020.
- The Blood Glucose Monitoring System market is projected to register the highest growth rate in the coming years.
- The key market players within the market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the Blood Glucose Monitoring System industry.
- The report provides an extensive analysis of the Blood Glucose Monitoring System market growth and emerging opportunities of the market.
- An in-depth market analysis is conducted by constructing estimations for the key segments between 2021 and 2028.
- The Blood Glucose Monitoring System market forecast analysis from 2021 to 2028 is included in the report.
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