Global Blood Glucose Monitoring Devices Market
The GMI Research forecasts that the Global Blood Glucose Monitoring Devices Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the continuous technological advancement and rapid growth in the aging population.
Introduction of the Global Blood Glucose Monitoring Devices Market:
Blood Glucose Monitoring Devices are implemented to measure and display the amount of sugar (glucose) in one’s blood Exercise, food, medications, stress, and other factors that might impact the blood glucose level. These devices help to manage diabetes by tracking any fluctuations in your blood glucose level.
Key Players of the Global Blood Glucose Monitoring Devices Market:
- Sanofi
- Dickinson and Company
- Medtronic
- Terumo Corporation
- ARKRAY, Inc.
- Hoffmann-La Roche Ltd
- Dexcom, Inc.
- Becton
- Nipro Diagnostics
- Abbott Laboratories
Global Blood Glucose Monitoring Devices Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The global blood glucose monitoring devices market is forecasted to experience a significant demand during the forecast period. This is primarily attributed to the substantial acceleration in the geriatric population, rising incidences of diabetes, and the increasing acquisition of continuous glucose monitoring systems. In accordance with the report published by the World Health Organization, the aging population is projected to witness a sharp growth from 12% in 2015 to approximately 22% by 2050. Also, unhealthy food habits, which include smoking, consumption of unhealthy food items, and alcohol, along with the sedentary lifestyle pattern of individuals, are directly expanding the prevalence of diabetes globally.
In addition, the ongoing technological modernizations, surging emphasis of patients to regularly monitor their glucose level, and the easy accessibility for self-monitoring of blood glucose (SMBG) are encouraging them to choose these sophisticated devices. The leading market players are increasingly involved in introducing technological advancements in devices to capture a significant market share. These innovations have made the supervision process easy, convenient, and economical.
The BGM devices are primarily used to treat diabetes which is bolstering their adoption, thus strengthening the market size. However, the insufficient indemnification and excessive cost associated with the employment of CGM systems and product cancellations are some major factors obstructing the market growth.
Global Blood Glucose Monitoring Devices Market Segmentation:
Segmentation by Product Type
- Blood Glucose Monitors
- Single Point Blood Glucose Meters
- Continuous Glucose Monitoring Systems
- Sensors
- Transmitter and Receivers
- External Monitor
- Glucose Monitoring Strips
- Lancets
Segmentation by End User
- Hospitals and Clinics
- Diagnostic Centers
- Home Settings
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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