Blood Glucose Measurement Market is Expected to Reach US$ 12,443.4 Mn by 2025
Analyst Speak:
“The Blood Glucose Measurement Market is increasing at prominent growth rate over the next seven years of forecast period to reach US$ 12,443.4 Mn by 2025, due to rise in incidence of diabetes in various countries around the world”
Precision Business Insights (PBI) in its report titled “Blood Glucose Measurement Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global blood glucose measurement market expected to reach US$ 12,443.4 Mn by 2025. The blood glucose measurement market burgeoning at significant CAGR over the forecast years due to surge in the prevalence of diabetes around the globe. For instance, according to International Diabetes Foundation 2017, approximately 425 Mn adults were living with diabetes and this will expected to reach 629 Mn by 2045. Moreover, rise in R&D for the development of technologically advanced devices such as point-of-care and digital devices, rise in adoption of glucose monitoring devices among the population, and increase in disposable income are anticipated to propel the blood glucose measurement market over the forecast years. However, high cost for the devices, low adoption of devices in underdeveloped economies, and stringent regulatory guidelines are the factors hinder the blood glucose measurement market over the forecast timeframe
Blood glucose measurement market segmented on the basis of product type, end user, and region.
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Self-Glucose Measurement Devices Segment Expected to Dominate the Market
Based on product type, the blood glucose measurement market is segmented into self-glucose measurement devices and continuous glucose measurement devices. Self-monitoring blood glucose devices contributed highest share in global blood glucose measurement market and is expected to grow at prominent growth rate over the forecast period owing to launch of technologically advanced devices such as Bluetooth enabled and audio enabled monitoring devices by the market players. For instance, in November 2018, Arkray, Inc. launched GLUCOCARD Shine Connex Bluetooth enabled and the GLUCOCARD Shine Express audio-enabled blood glucose monitoring systems in U.S. Moreover, approval for the innovative devices by various regulatory bodies and adoption of self-monitoring blood glucose monitoring systems in developed countries are anticipated to propel the blood glucose measurement market over the forecast years.
North America Accounts for Major Revenue Share for Blood Glucose Measurement Market
Precision Business Insights (PBI), blood glucose measurement market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among the all regions, North America dominated the global blood glucose measurement market and the market is expected to grow at significant CAGR over the forecast years owing to favorable reimbursement policies, increase in the prevalence of diabetes in U.S. and Canada, and presence of huge number of market players in the region. For instance, according to CDC 2015, approximately 30 Mn Americans have diabetes and another 84 Mn have prediabetes that may leads to type 2 diabetes within 5 years if they are not treated. In addition, Europe blood glucose measurement market creates lucrative opportunities over the forecast years owing to adoption of innovative devices and frequent product approval for blood glucose measurement systems in Europe.
Product Approval and Product Launches in Blood Glucose Measurement Market
Ø In September 2017, Abbott, Inc. received FDA approval for continuous glucose monitoring system that doesn’t need finger pricks
Key player’s profiles in the report are Abbott Laboratories, Nipro Diagnostics, Inc., Arkray, Inc., Medtronic plc, F. Hoffmann La Roche Ltd., Dexcom, Inc., Terumo Medical Corporation, F Hoffmann-La Roche Ltd., and Johnson and Johnson Services, Inc.
Detailed Segmentation
By Product Type
- Self-Glucose Measurement Devices
- Continuous Glucose Measurement Devices
- Hospitals and Clinics
- Diagnostic Centers
- Home Care
- Academic and Research Institutes
- Others
- Blood Glucose Meter
- Blood Glucose Testing Strips
- Lancets
- Others
By End User
Geography
North America
- US
- Canada
Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Poland
- Rest of Europe
Asia-Pacific
- Japan
- China
- India
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- Israel
- South Africa
- Rest of MEA
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