Blood glucose monitoring system market is expected to gain market growth in the forecast period of 2021 to 2028. The market is growing with the CAGR of 8.24% in the forecast period of 2021 to 2028 and is expected to reach USD 26.13 billion by 2028. The increase in the prevalence of diabetes cases among the population across the globe is escalating the blood glucose monitoring system market. Blood Glucose Monitoring System Market, By Product (Self-Monitoring Systems, Continuous Blood Glucose Monitoring Systems), Testing Site (Fingertip, Alternate Site), Patient Care Setting (Self/Home Care, Hospital, Clinics), Application (Type 2 Diabetes, Type 1 Diabetes, Gestational Diabetes), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
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Blood glucose monitoring systems refer to diagnostics systems which are utilized for the monitoring and treatment of diabetic patients. Diabetes is a chronic disease which could lead to serious implications such as kidney damage, stroke and even heart attack, if the levels of blood sugar in the patient is not measured and monitored on a regular basis. Generally, the monitoring systems take blood samples but with technological advancement, sensors are being used for continuous monitoring.
The rise in the number of diabetic patients globally and the increasing demand for the monitoring systems because of the growth in population are the major factors driving the blood glucose monitoring system market. The rise in demand for blood glucose monitoring system owning to its features such as economic efficiency and accurate diagnosis and treatment accelerate the blood glucose monitoring system market growth. The availability of different blood glucose monitors varying in ease of use, size, length of testing time and price and the effective approach of these medical devices in preventing other health conditions including retinopathy, cardiovascular diseases and neuropathy also influence the blood glucose monitoring system market. Additionally, the change in lifestyles of people such as consumption of alcohol and unhealthy food, smoking, increasing rate of obesity cases, growing geriatric population and rise in awareness regarding diabetes preventive care positively affect the blood glucose monitoring system market. Furthermore, technological advancement leading to early detection of hypo and hyperglycemic diabetes, support from the government and launch of new products extend profitable opportunities to the blood glucose monitoring system market players in the forecast period of 2021 to 2028.
On the other hand, the volatile economic distribution in the developing nations and the availability of cheap alternative devices are expected to obstruct the blood glucose monitoring system market growth. Global blood glucose monitoring systems market implementation of stringent regulatory norms and decreasing investment in laboratories are projected to challenge the blood glucose monitoring system market in the forecast period of 2021-2028.
This blood glucose monitoring system market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on blood glucose monitoring system market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Blood Glucose Monitoring System Market Scope and Market Size
The blood glucose monitoring system market is segmented on the basis of product, testing site, patient care setting and application. The growth amongst these segments will help you analyze meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
· On the basis of product, the blood glucose monitoring system is segmented into self-monitoring systems and continuous blood glucose monitoring systems. Self-monitoring devices are further segmented into blood glucose meter, testing strips and lancets. Continuous blood glucose monitoring devices are further segmented into sensors, transmitter and receiver and lancets.
· On the basis of testing site, the blood glucose monitoring system is segmented into fingertip and alternate site.
· On the basis of patient care setting, the blood glucose monitoring system is segmented into self/home care, hospital and clinics.
· On the basis of application, the blood glucose monitoring system is segmented into type 2 diabetes, type 1 diabetes and gestational diabetes.
Global Blood Glucose Monitoring System Market Country Level Analysis
The blood glucose monitoring system is analyzed and market size insights and trends are provided by country, product, testing site, patient care setting and application as referenced above.
The countries covered in the blood glucose monitoring system report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the blood glucose monitoring system because of the rise in the obese population, well-developed healthcare infrastructure, increasing technological investment, new medical products and high cost of treatments in the region. Asia-Pacific is estimated to grow in the forecast period of 2021-2028 due to the large diabetic population, rise in awareness about diabetes preventive care, favorable reimbursement policies and enhancement in healthcare facilities in the region.
The country section of the blood glucose monitoring system report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The blood glucose monitoring system also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for blood glucose monitoring system, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the blood glucose monitoring system. The data is available for historic period 2010-2019.
Competitive Landscape and Blood Glucose Monitoring System Market Share Analysis
The blood glucose monitoring system competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to blood glucose monitoring system.
The major players covered in the blood glucose monitoring system report are Medtronic, Abbott, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services Inc., PHC Holdings Corporation, Dexcom Inc., Ypsomed, B. Braun Melsungen AG, NIPRO, Sanofi, ARKRAY Inc., Prodigy Diabetes Care LLC, ACON Laboratories Inc., Nova Biomedical, Bayer AG, BD, Roper Technologies Inc., TERUMO CORPORATION, Novo Nordisk A/S, Eli Lilly and Company, LifeScan IP Holdings, LLC among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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