Blood Glucose Monitoring Device Market, [By Products (Single Point Blood Glucose Meters, Continuous Glucose Monitoring Systems (Sensors, Transmitters), Glucose Monitoring strips, Lancet); By End Use (Hospitals & Clinics, Diagnostic Centers, Home care Settings); By Region]: Market Size & Forecast, 2018 – 2026
New York, NY -- (SBWIRE) -- 12/10/2018 -- The global blood glucose monitoring device market is estimated to reach USD 2.61 billion by 2026 from USD 1.31 billion in 2017. The market is anticipated to grow at a CAGR of 8.0% during the forecast period.
These are the test system that can be use at home or in health care settings to calculate the amount of sugar (glucose) in your blood. If the person is suffering from diabetes then these are the idol sugar level calculating devices that can be used for diagnosing through the blood sample.
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The blood glucose monitoring device can help to determine your daily adjustments in treatment, know if you have dangerously high or low levels of glucose and understand how your diet and exercise change your glucose levels. Different players in the market of blood glucose monitoring device are manufacturing these devices using different technology, but most systems measure an electrical characteristic, and use this to determine the glucose level in the blood.
Blood Glucose Monitoring Device Market is on hike due to various factors for its significant growth. Due to the continuous technological advancement in these devices they are becoming more precise and accurate, the is rapidly increasing aging population across the globe, these devices facilitate with the convenience of continuous sugar monitoring over conventional monitoring, increasing the number of diabetic patients and early detection of hypo and hyperglycaemic diabetes needs these blood glucose monitoring devices to monitor real-time blood sugar levels for better management.
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According to WHO, approximately there were direct deaths if 1.6 million in 2015, and this number is attributed to rise by 2030 making diabetes the 7th leading cause of death globally. But there are certain factors that proving themselves as a big challenge for the Blood Glucose Monitoring Device Market such as high cost associated with the diagnosis of diabetes, product recalls, patent expiry issue and inadequate reimbursement related to the application of CGM systems. Sometimes the blood glucose level monitoring with these devices is painful and this pain arises due to the usage of a lancet which punctures on the tip of the finger to get the required drop of the blood for testing purposes.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Blood Glucose Monitoring Device Market, 2017-2026. This report also comprises a detailed geographic analysis of the market across North America, Europe, APAC, Latin America, and MEA regions. North America is further segmented into U.S., Canada, and Mexico.
European regional analysis section covers Germany, UK, Italy, and France. While the Asia Pacific region is bifurcated into China, India, and Japan. In 2017, North America Blood Glucose Monitoring Device Market was estimated to dominate the market growth due to developed healthcare infrastructure, favourable reimbursement schemes, higher healthcare expenditure, and increasing awareness among the population.
Competitive Landscape and Key Vendors
Some of the leading companies profiled in the blood glucose monitoring device market report include Abbott Laboratories, Terumo Corporation, ARKRAY Inc., Medtronic Plc., Acon Laboratories Inc., Roche Diagnostics Ltd., Johnson & Johnson, Novo Nordisk A/S, Becton, Dickinson and Co., Sanofi, Bayer AG, Ypsomed AG. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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- Single Point Blood Glucose Meters
- Continuous Glucose Monitoring Systems
- Glucose Monitoring strips
- Hospitals & Clinics
- Diagnostic Centers
- Home care Settings
- North America
o Rest of Europe
o Rest of Asia-Pacific
- Latin America
o Rest of Latin America
- Middle East and Africa
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