The Global Blood Glucose Monitoring Market is expected to grow at a CAGR of 7.1% during the forecast period 2018-2023. The Blood Glucose Monitoring Devices Industry is segmented on the basis of product type, application and end user.
Pune, India -- (SBWIRE) -- 01/15/2018 -- Blood glucose monitoring is the process of testing the diabetes level in the blood. It helps to recognize the glucose level of blood within the specified target range. The blood glucose monitoring devices provide useful insight to manage diabetes. It helps to track the progress of treatment goal as well as observe the effect of meditation on blood sugar level and understand how ailment effect the glucose level in blood.
The Worldwide Blood Glucose Monitoring Market growth is majorly attributed to the increasing prevalence of diabetes, developing technology for monitoring and diagnosis of diabetes, early detection of diabetes, and increasing demand for continuous glucose monitoring devices.
Various blood glucose monitoring devices are present in the market, which is known as blood glucose meter. These devices are designed to apply to the different type of diabetes such as Type 1, Type 2, and gestational diabetes.
Blood Glucose Monitoring Devices Market Segmentations:
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.
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Blood Glucose Monitoring Devices Market Regional Analysis:
The Americas command the largest market owing to notable increasing incidence of obesity, unhealthy diet, and physical inactivity. According to Centers for Disease Control and Prevention (CDC) in the year 2015, the prevalence of both diagnosed and undiagnosed diabetes population was 30.3 million people of all ages i.e. approximately 9.4% of the total United States population. And the total of diagnosed diabetes population was estimated to have 23.1 million people i.e. 7.2% of United States total population. Presence of well-developed technology, high healthcare spending, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region.
Europe holds the second position followed by Asia Pacific in the global blood glucose monitoring market, owing to the smoking, environmental pollutants, psychosocial factors and socioeconomic deprivation. Furthermore government support for research & development and availability of funds for research fuelled the blood glucose monitoring market for the forecast year.
Asia Pacific is the fastest growing blood glucose monitoring market owing to increasing aging population, urbanization, and associated lifestyle changes. Furthermore, increased the presence of rapidly developing healthcare technology, high healthcare expenditure, R&D activities and the concentration of major companies are fuelling the growth of the market in this region. Moreover, increasing demand for new treatment methods in countries like India and South Korea is likely to emerge as the fastest growing market across the globe. According to International diabetes federation (IDF), in 2015, there were 69.1 million people were suffered with diabetes.
On the other hand, in the Middle East and Africa has the lowest market for blood glucose monitoring owing to lack of technical knowledge and poor medical facilities. According to IDF, in 2015, around 399,900 cases of diabetes were found in Kuwait.
Blood Glucose Monitoring Devices Market 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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Table of Content Blood Glucose Monitoring Market:
1. Report Prologue
2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3. Research End Userology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
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