The global blood glucose monitoring devices market size USD 11,989.9 million in 2017 and is projected to reach USD 18,522.7 million by 2025, growing at a CAGR of 5.6% during 2018–2025.
Diabetes is a global concern and socioeconomic issue that affects several million people each year. Blood glucose monitoring devices are widely used in the diagnosis and treatment of diabetes and monitoring blood glucose. Surging adoption of these devices to treat diabetes is likely to augment the blood glucose monitoring devices market, globally. However, inadequate reimbursement and high cost associated with the application of CGM systems and product recalls are some of the key factors hampering the growth of this market. In addition, rapid growth in geriatric population and continuous advancement in blood glucose monitoring device are major driving factors of the market.
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Blood glucose test strip is expected to dominate the global blood glucose monitoring devices market
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. 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
Asia-Pacific is expected to dominate the market, followed by North America owing to the reimbursement facilities, and presence of large number of companies which aid in product availability. Improvement in the healthcare infrastructure by increased government and private funding in emerging economies is projected to boost the market growth in the course of next few years.
Various notable players operating in 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 the product type, the 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 centres).
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 market participants. The research report provides market size and forecast for 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.
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Key questions answered in this research report:
- At what pace is the blood glucose monitoring devices market growing, globally? What will be growth trend in future?
- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the blood glucose monitoring devices market?
- What are the various application areas and how they are poised to grow?
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