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.
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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.
Product Outlook (Revenue, USD Billion)
Self-monitoring Devices
- Testing Strips
- Lancets
- Blood Glucose Meter
Continuous Blood Glucose Monitoring Devices
- Transmitter & Receiver
- Insulin Pumps
- Sensors
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End-use Outlook (Revenue, USD Billion)
- Home Care
- Diagnostic Centers
- Hospitals
Regional Outlook
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa (MEA
Key Takeaways
- These are the few key takeaways from the detailed report shared by Researchmoz. The reports would help the manufacturers and stakeholders with real-time data and information regarding all the aspects of the global market.
- The global blood glucose monitoring devices market will observe a substantial growth of 4.3% CAGR between 2019 to 2027
- The home testing under the end-user segment will witness the highest growth due to growing adoption of self-management of the disease using self-monitoring devices.
- Self-monitoring devices are in demand due to their easy use and efficacy in the readings.
- Obesity has a major role in diabetes prevention and treatment, driving the global blood glucose monitoring devices market to expand.
- Market players are leveraging technologies to bring innovation in the products to strengthen their market positions.
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