Market Research Future (MRFR) evaluated the diabetes monitors market 2020 for the forecast period 2017-2023. By 2023, the diabetes monitor market can rise at 8.3% CAGR.
The increase in low fiber food intake is leading to rise in metabolic diseases. Among these, most are diabetic patients. Along with the rise in cases of type 1 diabetes, type 2 diabetes cases are also observed to peak. Diabetes is a silent killer and requires periodic check-up. Often, frequent visit to clinics becomes tedious. Hence, are large number of patients prefer diabetes monitor that can check blood glucose level at home. At the same time, to monitor types of diabetes and also, gestational diabetes, hospitals and clinics highly rely on diabetes monitors. Other type of diabetes, such as monogenic diabetes and cystic fibrosis-related diabetes can also be checked by diabetes monitors. These are some factors that are observed to promote the expansion of the diabetes market in the years ahead. Other causes that can favor the diabetes monitoring market are technological innovations, hefty research funds, rise in diabetes cases, rapid approval by regulatory bodies, and expansion of world obesity population. On the contrary, high diagnosis and treatment expense for diabetes, and lack of good reimbursement policies can limit the diabetes monitors market rise in the years to come.
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The segment assessment of the diabetes monitors market is done by type, sample, end-users, and component.
The sample based segment of the diabetes monitors market are sweat samples, blood samples, and urine samples among others.
The type based segment of the diabetes market are continuous glucose monitors (CGM), point sample test based glucose monitors, and enzyme free sensor based glucose monitors. The continuous glucose monitors are used largely. Re-usable sensor-based and Disposable sensor-based are two popular types of CGM.
The component based segment of the diabetes monitor market are sensors, lancet, and glucose test strips. Sensors sub-segments are enzyme-free sensors and enzyme-based sensors.
The end –users based segment of the diabetes monitor market are hospitals, diagnostic clinics, and home. The home segment to earn decent revenue for the world market.
Trends of the diabetes monitors market is assessed across EU, the Americas, APAC, and the MEA. The expansion of the diabetes patient in North America due to sedentary life style and high intake of low fiber content diet can tout North America diabetes monitor market in the analysis period. According to National Diabetes Statistics Report, a considerable population of the U.S. has type 1 diabetes. In addition, increase in cases of type 2 diabetes in the region is also creating the demand for diabetes monitors. These are identified as factors that can boost the regional market in the analysis period. In Europe, the diabetes monitor market can earn high revenue in the approaching years due to similar growth factors that are observed in North America. In addition, the rise in support from the regional government are observed to make substantial investment in the healthcare domain for effective innovations that can improve the momentum of Europe market. In Asia Pacific, the rise in the need for cost-effective glucose monitoring devices by the large pool of patient can drive the expansion of the regional diabetes monitor market. In MEA, the market can experience moderate growth as technical development in the region is yet to match the rest of the World.
Major Key Players
MRFR lists some noteworthy diabetes monitor marketers. They are; Abbott Laboratories, Panasonic, Dexcom, Inc., F. Medtronic, Hoffmann-La Roche Ltd, Sanofi, and LifeScan, Inc.
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