Recent report published by research nester titled “Smart Blood Glucose Meters Market: Global Demand Analysis & Opportunity Outlook 2024”delivers detailed overview of the global smart blood glucose meters market in terms of market segmentation by technology, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global smart blood glucose meters market is segmented into technology such as invasive blood glucose meters and non-invasive blood glucose meters. Among these segments, invasive blood glucose meters segment is expected to occupy the top position in the market. Moreover, the rise of invasive blood glucose meters segment is attributed to the huge usage invasive blood glucose meters due rising prevalence of diabetic patients globally. In addition to this, wide use of these compact devices for the measurement of blood glucose level is also bolstering the market of smart blood glucose meters.
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Global smart blood glucose meters market is expected to register a significant CAGR over the forecast period i.e. 2017-2024. Moreover, the global smart blood glucose meters market is anticipated to expand at noteworthy revenue by 2024. The market is expected to expand on the back of availability of innovative technology and increasing aging population.
In terms of geography, the most prominent regional markets are North America and Europe. North America region is envisioned to dominate the overall market of smart blood glucose meters over the forecast period owing to rapid urbanization and wide use of these compact devices for the measurement of blood glucose level. Moreover, Europe region captured the second largest market of smart blood glucose meters in 2016 due to increasing diabetic patients.
Spiked penetration of smart devices
Integration of internet of things (IoT) into healthcare devices and rising healthcare expenditure across the globe are believed to be the dynamic factor behind the rapid growth of smart blood glucose meters market. Furthermore, growing demand for accurate measurement of blood sugar level is also expected to expand the market of smart blood glucose meters across the globe.
Swelled disposable income
Rising disposable income of the population across the globe supported by the positive GDP figures in growing nations are supporting the penetration of smart healthcare devices such as smart blood glucose meters.
Further, rapid urbanization coupled with technological advancement in measuring blood glucose level and increasing geriatric population affected with diabetes are fuelling the demand for smart blood glucose meters. These factors are projected to flourish the growth of smart blood glucose meters market during the forecast period.
On the contrary, high cost associated with smart blood glucose meters is expected to dampen the growth of smart blood glucose meters market. Further, less adoption of smart gadgets by developing and underdeveloped nations is also believed to restrain the growth of smart blood glucose meters market by the end of 2024.
This report also provides the existing competitive scenario of some of the key players of the global smart blood glucose meters market which includes company profiling of Contour next, Gmate, Nova Biomedical, ForaCare Suisse AG , Diabeto, Dario, Ihealth, Keya smart, Glucowise and Beato.
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart blood glucose meters market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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