Blood Glucose Monitoring Market Analysis, Upcoming Trends, Emerging Growth, Key Players Segments and Forecast to 2023
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.).
Market Overview
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.
Segmental Analysis
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.
·
Intended Audience
·
Blood Glucose Monitoring Devices Suppliers
·
Blood Glucose Monitoring Devices Manufacturers
·
Research and Development (R&D) Companies
·
Medical Research Laboratories
·
Academic Medical Institutes and Universities
·
Hospitals and Clinics
·
Homecare Diagnostics
Industry Updates
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.
Regional Insights
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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