The global blood glucose monitoring devices market will exhibit a growth of 4.3% CAGR and be valued up to USD 11.99bn by 2027, earlier in 2019 it was valued at USD8.49bn.
The
adult population is more susceptible to diabetes, therefore preventive care is
gaining importance in blood glucose treatment. Further, the growing geriatric
population is driving the blood glucose monitoring devices market.
Reserachmoz
sheds some insights into the market dynamics of the global blood glucose
monitoring devices market, covering growth drivers, restraints, opportunities,
and competitive edge.
Digitalization Amplifies Blood Glucose
Monitoring Device Market
The
glucose meter also known as Glucometer was invented by Ion Shanks and ever
since it has been recognized as a handy tool to measure glucose levels in the
blood. With the advent of technology, digital glucose meters are gaining
importance and eyeballs and becoming a part and parcel of daily life. Smart
technologies have birthed smart devices such as wristbands, phones, and apps,
which can be integrated with glucose meters using internal sensors. The
readings can even be tracked on Android and IOS apps and can be digitally
managed to keep the doctor in the loop. Therefore, increases the demand for
blood glucose monitoring devices market.
Rising Awareness Stimulates the Growth
With
the rising awareness of underlying health problems that come as a package with
diabetes if not managed well, self-management from home is becoming a new norm
among diabetes or borderline diabetes patients.
Poor
lifestyle choices and sedentary lifestyles are some of the reasons that could
cause obesity, owing to the expansion of the global blood glucose monitoring
device market.
However,
there is a lack of awareness about the frequency at which these tests could be
done at home, which further could hinder the global blood glucose monitoring
devices market.
Nonetheless,
increasing research and development in the field of innovation is expected to
drive the market during the forecast period.
Analysts Views
Year
on year the diabetic population is increasing worldwide which is adding to the
growth opportunities in the global blood glucose monitoring devices.
Digital
technologies are proving to be a boon in diabetes management and blood glucose
monitoring.
Growing
awareness about preventive care is thriving in the blood glucose monitoring
devices market and will continue to grow in the coming years as well.
Modern
lifestyle and habits such as smoking and unhealthy eating pattern are
increasing the chances of diabetes and also leads to diabetes if no precaution
is taken, driving the global blood glucose monitoring market.
North
America will lead the global blood glucose monitoring devices market owing to
the rising cases of obesity and advanced health care facilities.
Competitive Landscape
Researchmoz
provides a detailed report on the competitive angel of the global blood glucose
monitoring devices market. The report puts forward information on the
strategies adopted by the prominent players inclusive of innovations,
collaborations, etc. The detailed report will enable stakeholders to take the
right decision to witness success in this area of business.
The prominent players in
the global glucose monitoring devices include-
- Glysens Incorporated
- Dexcom, Inc.
- Sanofi
- Novo Nordisk
- Ascensia Diabetes Care
- Insulet Corporation
- Ypsomed Holdings
- Glysens Incorporated
- Abbott Laboratories
- Medtronic plc
- Hoffmann-La Roche Ltd.
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