Blood Glucose Monitoring Market Profile, Sales, Cost, Dynamics and Capacity To 2027
Blood Glucose Monitoring Market Highlights
The Blood glucose monitoring market is one
of the rapidly growing markets across the world owing to huge growth in urbanization
leading to the increased incidence of obesity, unhealthy diet, and physical
inactiveness, which has increased the diabetic population around the globe.
Regular monitoring of glucose level is important to avoid further
complications. Furthermore, invention of new technology, increasing awareness,
investment in research and development have boosted the blood glucose
monitoring market globally. However, high cost associated with monitoring and
diagnosis of disease may restrain the market growth.
The global blood glucose monitoring market
is expected to grow at a CAGR of 7.1% during forecasted period 2017-2023.
Regional Analysis
Geographically,
global blood glucose monitoring market is segmented into America, Europe, Asia
Pacific and the Middle East & Africa.
The
Americas commands the largest blood glucose monitoring market due to the
presence of a well-developed healthcare sector and large patient population.
Americas dominate the global blood glucose monitoring market owing to high
healthcare spending, increasing population, increased research &
development activities and the concentration of major companies have fuelled
the growth of the market in this region.
Europe
holds the second position in the global blood glucose monitoring market owing to
the government support for research & development and availability of funds
for research. According to WHO, Globally, around 3.4 million people died
annually owing to high blood glucose and almost 80% of these deaths occur in
lower and middle income countries, and this statistics is coupled with the fact
that almost 50% were people aged under 70 years.
Asia
Pacific is the fastest growing blood glucose monitoring market owing to the
presence of rapidly developing healthcare technology, huge patient population,
high healthcare expenditure, and increase in prevalence of nerve injuries or
disorder related to nerve. Moreover, increasing demand for new treatment
methods in countries like India and China are likely to emerge as the fastest
growing market across the globe.
On the
other hand, in the Middle East and Africa has the lowest market for blood
glucose monitoring due to lack of technical knowledge and poor medical
facilities.
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Segmentation
Global
blood glucose monitoring devices market is segmented on the basis of product
type, application, and end user. On the basis of the product type, it is
segmented into invasive glucose monitoring devices, continuous glucose
monitoring devices (CGM), flash glucose monitoring devices, and others. On the
basis of the application, it is segmented into type 1 diabetes, type 2
diabetes, and others. On the basis of the end user, it is segmented into
diagnostic centers, hospitals, clinics, research centers, and home care
diagnostics.
Key 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.).
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