Blood Glucose Monitoring Devices Market Poised to Grow at a CAGR of 8.80% by 2024
Infinium Global Research has added a new report on Blood Glucose Monitoring Devices Market. The report presents analysis of global as well as regional markets of blood glucose monitoring devices market over the period of 2016 to 2024.
Glucose is a sugar that body uses as a source of energy. Body regulates the amount of glucose in the blood, unless a person is affected with diabetes. Blood glucose monitoring devices is a test system used to measure the amount of sugar in your blood. This devices can be used at home or in healthcare centers. This is a quantitive test that helps to find out the amount of glucose present in the blood sample of the user. Blood glucose monitoring devices are used by diabetic people to monitor its blood glucose level. The result obtained after taking test helps to identify if a person have dangerously high or level of glucose and also helps to determine daily adjustment in treatment.
Global rise in the prevalence and incidence of diabetes is one of the key factor for driving the blood glucose monitoring devices market. Continuous blood glucose monitoring helps get a complete picture of the glucose levels by continuous monitoring of glucose level that can lead to better treatment decision and better glucose control. Furthermore, increase adoption of continuous glucose monitoring system is likely to augment the blood glucose monitoring devices market. However, inadequate reimbursement and high cost associated with the application of CGM systems and product recalls are some of the key factors hampering the growth of this market. In addition rapid growth in geriatric population and continuous advancement in blood glucose monitoring devices.
Among the geographies, North America held the largest market share in 2017, followed by Europe. U.S drives the North America blood glucose monitoring devices market on account of increased expenditure on healthcare, rising adoption of new innovative blood glucose monitoring devices. Asia Pacific is projected to grow at the highest CAGR due to number of factors such as presence of large patient pool, increasing population access to healthcare services and rising awareness about the point of care testing.
Recent Development- On May 2018, Dexcom one of the leading medical device company introduced its newest diabetes device that can read diabetic patient blood sugar without any blood. This new life-changer devices has been approved by the FDA to require no blood at all. This device allow diabetics to see their blood sugar throughout the day and night with a sensor that is inserted under the skin.
Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global blood glucose monitoring devices market but also make strategic decisions to capture the most lucrative markets in the near future.
The market size is presented in terms of value for the historic year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that North America dominated the global blood glucose monitoring devices market over the last couple of years, while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the blood glucose monitoring devices market worldwide.
The report segments the global blood glucose monitoring devices market on the basis of Product, Application and Distribution Channel.
Global Blood Glucose Monitoring Devices Market by Product
· Blood Glucose Monitors
· Glucose Monitoring Strips
Global Blood Glucose Monitoring Devices Market by Application
· Hospitals And Clinics
· Diagnostic Centers
· Home Settings
Global Blood Glucose Monitoring Devices Market by Distribution Channel
· Retail Stores
· Online Website
Companies Profiled in the Report
· Abbott Laboratories
· ARKRAY, Inc.
· Bayer AG
· Dexcom, Inc.
· F. Hoffmann-La Roche Ltd
· Johnson & Johnson
· Medtronic plc
· Nipro Diagnostics, Inc.
· Terumo Medical Corporation
About Infinium Global Research
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