Worldwide Blood Glucose Monitoring Market Research Report - Global Forecast till 2023 Size, Growth, Emerging Technologies, Demand, Competitive, Regional Landscape with Global Forecast To 2023
Global blood glucose monitoring market is expected to grow at a CAGR of 7.1% during the forecast period 2017-2023.
Leading Market Players
Some of key the players in the market are Abbott Laboratories (U.S.), Arkay, Inc. (U.S.), Bayer Healthcare AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Goldsite Diagnostics Inc., GlySure Ltd (U.K), Sphere Medical Holding plc. (U.K), Dexcom, Inc. (U.S.), and LifeScan, Inc. (U.S.).
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.
The blood glucose monitoring market is considered one of the rapidly expanding markets, mainly due to the surging growth in urbanization, leading to soaring incidences of obesity. Developments in technology, increased investment in R&D activities, and surging awareness regarding these devices are some of the primary growth stimulants of the market.
By mode of product type, continuous glucose monitoring devices (CGM), invasive glucose monitoring devices, flash glucose monitoring devices, and others.
By mode of application, type 1 diabetes, type 2 diabetes, and others.Type-I and type-II diabetes are further sub-segmented into pediatrics and adult. The rising prevalence of type-II diabetes is fueling the growth of the use of blood glucose monitoring system.
By mode of end-users, hospitals, diagnostic centers, research centers, clinics,and home care diagnostics. Among these, the homecare segment is considered to dominate the global market owing to an increased diabetic population coupled with the growing preference for minimally invasive technologies which can be used at home.
January 03, 2019: A team of researchers at KTH Royal Institute of Technology, Stockholm have recently developed a promising alternativefor people with diabetes. A microneedle patch with 50 times smaller than the needles used in the CGM systems, this glucose monitor is a reliable and comfortable blood-sugar monitoring system which has proven to be virtually painless and more accurate.
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
The European region is likely to occupy the second spot in the global market due to environmental pollutants, sociological deprivation, and psychological factors
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.
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