Blood Glucose Monitoring Market – Overview
A healthy body stays healthy due to all kinds of enzymes in the body being in proper balance. Excess of an enzyme can disturb balance while deficiency of another one can have the same effect. People who are suffering from genetic ailments like diabetes are more prone to such problems. Therefore, monitoring things like glucose in the blood is necessary for such people, and this is the reason for the global blood glucose monitoring market to take shape and grow. Blood glucose monitoring helps to recognize the glucose level of blood within the specified target range. The devices facilitating this monitoring provide useful insight to manage diabetes. These insights help to track the progress of treatment goal and observe the effect of medication on blood sugar level and understand how the ailment affects glucose level in blood.
Market Research Future (MRFR) has published a research report about the global blood glucose monitoring market that predicts the market growth with 7.1 % CAGR (Compound Annual Growth Rate) between 2017 and 2023. Devices known as blood glucose meter are designed to apply to the different type of diabetes. According to this report, the market for these devices is growing due to developing technology for monitoring and diagnosis of diabetes, early detection of diabetes, increasing demand for continuous glucose monitoring devices, and increasing prevalence of diabetes.
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Blood Glucose Monitoring Market - Key Players
Some of key the players in the market are
• Abbott Laboratories (U.S.)
• Arkay, Inc. (U.S.)
• Bayer Healthcare AG (Germany)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Goldsite Diagnostics Inc.
• GlySure Ltd (U.K)
• Sphere Medical Holding plc. (U.K)
• Dexcom, Inc. (U.S.)
• LifeScan, Inc. (U.S.)
Blood Glucose Monitoring Market - Segmentation
The Global Blood Glucose Monitoring Market has been segmented on the basis of application, product type, end-user, and region.
By mode of product type, the Global Blood Glucose Monitoring Market has been segmented into continuous glucose monitoring devices (CGM), invasive glucose monitoring devices, flash glucose monitoring devices, and others.
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By mode of application, the global blood glucose monitoring market has been segmented intotype 1 diabetes, type 2 diabetes, and others.Type-I and type-II diabetes are further sub-segmented into pediatrics and adult. The rising prevalence of type-II diabetes is fueling the growth of the use of blood glucose monitoring system.
By mode of end-users, the global blood glucose monitoring market has been segmented intohospitals, diagnostic centers, research centers, clinics,and home care diagnostics. Among these, the homecare segment is considered to dominate the global market owing to an increased diabetic population coupled with the growing preference for minimally invasive technologies which can be used at home.
Blood Glucose Monitoring Market - Regional Analysis
Geographically, Global Blood Glucose Monitoring Market is segmented into America, Europe, Asia Pacific and the Middle East & Africa.
The Americas commands the largest blood glucose monitoring market due to the presence of a well-developed healthcare sector and large patient population. Americas dominate the global blood glucose monitoring market owing to high healthcare spending, increasing population, increased research & development activities and the concentration of major companies have fueled the growth of the market in this region.
Europe holds the second position in the global blood glucose monitoring market owing to the government support for research & development and availability of funds for research. According to WHO, Globally, around 3.4 million people died annually owing to high blood glucose and almost 80% of these deaths occur in lower and middle-income countries, and this statistic is coupled with the fact that almost 50% were people aged under 70 years.
Asia Pacific is the fastest growing blood glucose monitoring market owing to the presence of rapidly developing healthcare technology, huge patient population, high healthcare expenditure, and increase in prevalence of nerve injuries or disorder related to nerve. Moreover, increasing demand for new treatment methods in countries like India and China are likely to emerge as the fastest growing market across the globe.
On the other hand, in the Middle East and Africa has the lowest Blood Glucose Monitoring Market due to lack of technical knowledge and poor medical facilities.
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