The global blood glucose monitoring devices market exhibited a value of USD 11,989.9million in 2017, and is projected to reach USD 18,522.7 million by 2025, growing at a CAGR of 5.6% during 2018–2025.The key factors boosting the market growth are growing awareness about diabetes coupled with an increase in the number of diabetic patients and innovations and technological advancement in blood glucose monitoring devices.
The global blood glucose monitoring devices market is expected to register a robust growth during the forecast period due to increasing adoption of blood glucose monitoring devices at homecare setting, growing incidence of diabetes diseases, rising technological advancement and spending on healthcare facilities across the globe.
Blood glucose test strip is expected to dominate the global blood glucose monitoring devices market during the forecast period. In 2017, continuous blood glucose monitoring system held more than one-third of the market share and is anticipated to witness the fastest growth in the coming years on the back of growing adoption among healthcare professionals and patients due to its characteristics of high stability and advanced properties.
Technological advancement in diabetes device industry and increasing research & developments are likely to steer the growth of global blood glucose monitoring devices market in near future. Glucose meters and continuous glucose measuring devices are emerging device technologies in the global blood glucose monitoring devices market.
“To maintain their leadership in the competitive blood glucose monitoring devices market, companies are consistently focussing on research & development. For instance, in April, 2017, Abbott introduced next generation widely used Flash Glucose Monitoring System for the diabetes patients around the globe. The blood glucose monitoring devices market is witnessing significant growth in Asia-Pacific due to the increase in diabetes prevalence in the region, specifically, in the countries, such as China and India.”—-GMI Research
In 2017, Asia-Pacific dominated the market in terms of market share on account of the large patient pool, high volume of homecare setting procedures and growth in medical tourism. However, Europe is third largest market and the market is expected to grow at a moderate rate. As the incidence of diabetes is on the rise, governments across the world are spending more on prevention and care of diabetes.
Key takeaways/key essentials:
• The continuous blood glucose monitoring devices are anticipated to grow at the highest rate during the forecast period from 2018 to 2025.
• Glucose meters and continuous blood glucose monitoring devices are emerging technologies in the blood glucose monitoring device field.
• Asia-Pacific region occupied maximum revenue share in the global blood glucose monitoring devices market in 2017.
Some of the key players operating in the global blood glucose monitoring devices market include Abbott Laboratories, ARKRAY, Inc, F. Hoffmann-La Roche Ltd, Terumo Corporation, Nipro Diagnostics, Medtronic, Becton Dickinson and Company, Dexcom, Inc., Sanofi, and others.
The global blood glucose monitoring devices market has been segmented on the basis of product type, end user and key geographies. Based on product type, the global blood glucose monitoring devices market comprises of blood glucose test strip, lancing device, glucose meter and continuous glucose monitoring device. The end user segment includes, homecare setting, hospitals and others (clinics, ambulatory surgical centers).
The research report “global blood glucose monitoring devices market” provides in-depth analysis of the blood glucose monitoring devices market across the globe, based on product type, end user and major geographies for the forecast period from 2018 to 2025. The report highlights the major market drivers propelling the growth as well as challenges faced by the market participants. The research report also provides market size and forecast for the global blood glucose monitoring devices market. The report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
For more details, browse the Table of Contents: https://www.gmiresearch.com/report/global-blood-glucose-monitoring-devices-market-opportunities-forecast-end-user-share.html
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