Diabetes Monitors Market - Overview

Diabetes is a metabolic disease that occurs when blood glucose level is too high either due to inadequate insulin production or because of low response towards insulin. The three most common type of diabetes are Type 1, Type 2, and gestational diabetes. Other less common type includes cystic fibrosis-related diabetes, and monogenic diabetes. The frequent blood glucose monitoring is critical for diabetic management, as the maintenance of standard glucose level, i.e. 4–8 mM, is the only way that a diabetic person can lead a healthy lifestyle

Further The Food and Drug Administration (FDA), and other government bodies are establishing a new standard for diabetes monitors accuracy. The FDA standard is majorly driven by technological advances, improved meter accuracy, reports of hospital and outpatient deaths, research studies, and consumer complaints about product. Due to increasing incidence rate of diabetes, competition among blood glucose monitor manufacturers is also rising. Existing and new marketers are continuously coming up with innovative products to meet the proposed FDA guidelines. In recent years various new glucose monitoring devices have been approved by FDA and European regulatory bodies such as DexCom G4 Platinum, Medtronic Diabetes Guardian Real-Time, Abbott Freestyle Libre, GMate Smart Blood Glucose Monitoring System by Philosys, Artificial pancreas system, and many others. Thus, development of new devices may emerge as the new revenue pockets for the growth of this market. Also Obesity directly contributes to the risk for diabetes. According to 2016 WHO report, more than 1.9 billion adults, were overweight and of these over 650 million were obese. In North American and Europe rate of obesity is highest among lower-income population, who live in urban areas are littered with fast-food outlets. In the Asia-Pacific region, obesity is highly prevalent in urban residents and then in rural areas and urban slums. Obesity is caused due to diet imbalance, Genetics etc. are leading to various risk factors for diabetes, high blood pressure, heart disease and other health problems. Risk factors of diabetes and high blood pressure are increasing steadily with rise in prevalence of obesity. Thus the increasing prevalence of obesity globally, offers a great opportunity for the growth of the global diabetes monitors market.

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Key Players:

Key players leading the global diabetes monitors market include Abbott Laboratories, Panasonic, Dexcom, Inc., Medtronic, F. Hoffmann-La Roche Ltd, LifeScan, Inc., and Sanofi among others.

Industry/ Innovation/ Related News:

January 07, 2019 –– InventHelp (USA), an inventor service firm that helps inventors announced the development of a Modified Glucose Monitor - Gluco Display – that provides an easy and effective way to assess blood glucose levels, offering an alternative to traditional glucose monitors. Gluco Display featuring a user-friendly design that is convenient and easy to use could help to reduce pain and discomfort.

January 07, 2019 –– Verily (US), a subsidiary research organization of Alphabet focused on the study of life sciences, and healthcare announced raising of USD 1 BN to support its healthcare to bolster growth in key areas such as investments in new strategic partnerships and potential acquisitions.

Verily also confirmed that it can leverage its partnerships with medical device companies Dexcom, Sanofi, and Sensile Medical to tap into a revenue stream. Verily is planning to develop devices spanning less intrusive blood glucose monitors and "all-in-one" medical-grade insulin pumps.

Global Diabetes Monitors Market – Segments

MRFR has segmented the report into five key dynamics for an easy grasp;

By Sample: Blood, Sweat, and Urine Samples.

By Type: Point Sample Test-based Glucose Monitors, and Continuous Glucose Monitors (CGM) among others.

By Component: Lancet, Glucose Test Strips, and Sensors (Enzyme-based and Enzyme-free Sensors) among others.

By End-users: Diagnostic Clinics, Hospitals, and Home among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

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Global Diabetes Monitors Market – Geographical Analysis

North America accounts for the leading position in the worldwide diabetes monitors market followed by the European and Asia Pacific regions, respectively. The region is expected to reach USD 6623.4 MN by 2023.

Factors substantiating the market growth include the presence of a vast patient population, the leading players, a well-developed technology, and high healthcare expenditure in the region. Moreover, the factors such as the high prevalence of diabetes and support from the companies, private organization, and government associations to improve diabetes care drives the market in the region.

Europe holds the next largest share in the global diabetes monitors market, the resurging economy in this region is playing a vital role in the growth of the market by availing the best possible healthcare and increasing the healthcare expenditures. Additionally, government support that encourages manufacturers of diabetes monitors to develop better devices is in turn, fostering the market growth in the region.

The Asia Pacific region accounts for a profitable market for diabetes monitors. The increasing number of diabetic patients and rapidly improving healthcare sector are positively impacting the market growth in the region. The APAC diabetes monitors market is expected to grow at 8.9% CAGR during the period - 2017-2023.

The spreading awareness among individuals towards the advantages and the availability of these devices drives the market growth in the region. Furthermore, the increasing per capita income alongside the rising healthcare concerns are leading to increasing the market size of the diabetes monitors market.

Global Diabetes Monitors Market – Competitive Analysis

The highly competitive, diabetes monitors market appears to be widely expanded and fragmented characterized by the several small and large-scale companies operating the market. Well-established players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansionn, and product launch to gain a competitive edge and to maintain their positions in the market.

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