The global blood glucose monitoring device market is segmented by device type into blood glucometers, blood glucose testing strips, lancets, continuous glucose monitoring devices, and blood glucose monitoring bands; by approach into invasive, minimally invasive and non-invasive; by end-user into hospitals, clinics, ambulatory surgical centers, diagnostic centers, home settings and others and by regions. The global blood glucose monitoring device market is anticipated to mask a CAGR of 10.2% during the forecast period i.e. 2019-2027.
Many multi-national companies are concentrating towards new product advances in these monitoring devices. Currently, the global blood glucose monitoring device market is observing vibrant growth owing to increasing demand for point of care testing furthering the requirement for glucose monitoring and diabetes control devices among the population worldwide.
North America is panned to observe substantial growth in blood glucose monitoring device market on the back of increasing diabetic patient pool across the region due to growing working population along with adoption of sedentary lifestyle. North America is expected to be followed by Europe in terms of consumption because of growing requirement of these devices among geriatric population accompanied with reduced medical costs. Asia Pacific is expected to positively impact the demand for these monitoring devices over the forecast period on account of rising disposable income, increasing awareness regarding disease management and growing healthcare infrastructures across countries such as, India, China and others that are promoting such devices across the region.
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Growing Pediatric Diabetic Population
The WHO states that the number of diabetics have nearly quadrupled since 1980 from 108 million to 422 million by the year 2014. Additionally, growing awareness among people regarding keeping diabetes under check in order to control blood sugar levels is estimated boost market shares during the forecast period. Moreover, the rising incidences of children suffering from type I diabetes as reported by International Diabetes Federation which was more than 1,106,500 children in the year 2017 is estimated to increase, further impacting the blood glucose monitoring device market positively in upcoming years.
However, associated restraining factors such as unfavorable reimbursement policies along with lack of awareness in the geriatric population across developing countries regarding these devices is expected to hinder the growth of market over the forecast period.
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The report titled “Global Blood Glucose Monitoring Device Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global blood glucose monitoring devices market in terms of market segmentation by device type, by approach, by end-user and by regions.
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.
This report also provides the existing competitive scenario of some of the key players of the global blood glucose monitoring device market which includes company profiling of Abbott Laboratories, Arkay Inc., B. Braun Melsungen AG, Bayer Healthcare AG, Becton Dickinson, F. Hoffmann-La Roche, LifeScan, Medtronic, Novel Biomedical Corporation, Terumo Europe N.V. and Other Prominent Players. 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 blood glucose monitoring device 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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