A recent report published by Infinium Global Research on blood glucose monitoring device market provides in-depth analysis of segments and sub-segments in the global as well as regional blood glucose monitoring device market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional blood glucose monitoring device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global blood glucose monitoring device market.
The blood glucose monitoring device market is dedicated to producing and supplying devices and products aimed at monitoring and managing blood glucose levels, primarily catering to individuals with diabetes. These tools play a crucial role in enabling individuals with diabetes to monitor their blood sugar levels, thereby empowering them to make informed decisions regarding their diet, medication, and lifestyle. Within this market, you'll find handheld blood glucose meters that measure blood glucose levels using a small blood sample, typically obtained by pricking the skin with a lancet. People with diabetes often use these meters to track their blood sugar multiple times throughout the day. Additionally, the market encompasses Continuous Glucose Monitoring (CGM) systems. These systems offer real-time and continuous blood glucose monitoring, typically consisting of a sensor placed beneath the skin, which transmits data to a receiver or a smartphone app, providing a comprehensive view of glucose fluctuations. The blood glucose monitoring system market has witnessed notable technological advancements with a focus on enhancing device convenience, accuracy, and user-friendliness. These innovations aim to elevate the quality of life for individuals with diabetes by improving blood glucose control, reducing the risk of diabetes-related complications, and enhancing overall well-being.
The blood glucose monitoring system market is being propelled by the escalating prevalence of diabetes. This market is experiencing a rising demand for glucose-monitoring devices, in sync with the growing number of individuals being diagnosed with diabetes, encompassing both type 1 and type 2 diabetes. Furthermore, the market is benefiting from the increasing global aging population since older individuals are more susceptible to developing diabetes. The prevalence of diabetes serves as a significant market catalyst, creating a robust market landscape where the demand for effective glucose monitoring solutions is consistently increasing. Nonetheless, there are challenges associated with lower rates of diabetes diagnosis and treatment that could hinder market expansion. However, ongoing advancements in sensor technology and the development of wearable devices present substantial opportunities. These innovations are laser-focused on improving the accuracy, convenience, and non-invasiveness of glucose monitoring. By delivering more user-friendly and easily accessible monitoring solutions, businesses operating in this market can overcome barriers linked to diagnosis and treatment rates, ultimately broadening their market presence and reaching a more extensive customer base.
In the forthcoming forecast period, North America is anticipated to dominate the market, particularly the United States, owing to its notably high prevalence of diabetes. For instance, in April 2023, the Centers for Disease Control and Prevention (CDC) reported that over 37 million people in the U.S. have diabetes, with millions more at risk. This substantial disease burden creates a thriving market for blood glucose monitoring devices. Moreover, the region boasts a well-established and advanced healthcare infrastructure that facilitates diabetes diagnosis, treatment, and management, including the utilization of blood glucose monitoring devices. North America also serves as a center for technological innovation and healthcare research and development. Numerous prominent companies in the blood glucose monitoring market are headquartered in or have a significant presence in North America, fostering a culture of continuous innovation and the creation of cutting-edge monitoring devices. Conversely, the Asia-Pacific (APAC) region is emerging as the fastest-growing market for blood glucose monitoring systems. The escalating prevalence of diabetes in countries such as India and China has turned diabetes into a significant health concern in the APAC region. As the number of individuals with diabetes continues to grow, there is an increasing demand for blood glucose monitoring devices to manage this condition. Additionally, there has been a surge in diabetes awareness and management in the APAC region, driven by active engagement from governments, healthcare organizations, and non-governmental organizations (NGOs) in promoting awareness about diabetes and the significance of regular blood glucose monitoring.
|Market Size in 2022||USD 12.52 Billion|
|Market Size by 2030||USD 26.44 Billion|
|Growth Rate from 2023 to 2030||CAGR of 8.38%|
|Largest Market||North America|
|No. of Pages||255|
|Market Segmentation||By Product, By Patient Care Setting, and By Application|
|Regional Scope||North America, Europe, Asia Pacific, and RoW|
The report on global blood glucose monitoring device market covers segments such as product, patient care setting, and application. On the basis of product, the sub-markets include self-monitoring, and continuous glucose monitoring devices. On the basis of patient care setting, the sub-markets include hospital, and homecare. On the basis of application, the sub-markets include type 1, type 2, and gestational diabetes.
The report provides profiles of the companies in the market such as F. Hoffmann-La Roche Ltd, Abbott Laboratories, Ascensia Diabetes Care Holdings AG, Medtronic, Ypsomed AG, B. Braun SE, Nipro Medical Corporation, ARKRAY, Inc., Prodigy Diabetes Care, LLC., and ACON Laboratories, Inc..
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the blood glucose monitoring device market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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