Blood glucose monitoring system is the type of diagnostics system, used for the care & treatment of diabetes. It is used to measure & monitor the levels of blood sugar in the patients. These systems help in preventing other health-related conditions for instance retinopathy, neuropathy, and cardiovascular diseases. There are numerous types of blood glucose monitoring systems available in the market, which is known as blood glucose meter that are varying in price, size, duration of testing time, and ease of utilization.
According to study, “Global Blood Glucose Monitoring Systems Market to reach USD 17.1 billion by 2026” the key companies operating in the global blood glucose monitoring system market are F. Hoffman-La Roche Ltd., Ascencia Diabetes Care Holdings AG, Abbott Laboratories, Terumo Medical Corporation, Dexcom Inc., B. Braun Melsungen AG, Medtronic, Diamon Tech GmbH, Lifescan Inc. and Nova Biomedical. Major players are primarily concentrating on research & development (R&D) initiatives and innovative product developments to cater the needs of customers.
Based on product type, blood
glucose monitoring system market is segmented as continuous glucose monitoring
systems and self-monitoring blood glucose monitoring systems. Continuous
glucose monitoring systems include transmitters, sensors and receivers.
Continuous glucose monitoring system segment dominates the global market owing
to rise in adoption of minimally invasive procedures. Self-monitoring blood
glucose monitoring systems include testing strips, blood glucose meters and
lancets & lancing devices. Based on testing site, market is segmented as
alternate site testing and fingertip testing. Based on patient care setting,
market is segmented as hospitals/clinics and self/home care. Self/home care segment
is anticipated to witness higher CAGR due to growth in diabetic population,
increase in product launches enhancing patient comfort when used at home and
rise in awareness about regular monitoring of glucose levels during the
forecast period. In addition, based on application, market is segmented as
diabetes and others. Diabetes includes Type 1 diabetes, Type 2 diabetes and
gestational diabetes.
The blood glucose monitoring system
market is driven by rise in prevalence of diabetic population, followed by
increase in preference for less invasive technologies and growth in number of
product launches. However, inadequate reimbursement and high cost of monitoring
systems may impact the market. Moreover, growth in technological advancement in
products and surge in online marketing strategies are key opportunities for
market.
Based on geography, the
North-American region holds major share in global blood glucose monitoring
system market owing to favorable reimbursements policies, increase in FDA
approvals for these systems & supplies in the region. Whereas, the
Asian-Pacific and European regions are anticipated to exhibit highest growth
rate due to large number of diabetic patients coupled with rapid economic
growth in countries such as China and India over the forecast period. In upcoming years, it is estimated that
future of the global market will be optimistic on account of rise in awareness
programs for diabetes owing to its high prevalence during the forecast period.
The global blood glucose monitoring systems market is valued approximately at
US $10.8 billion in 2019 and is expected to grow with a healthy growth rate of
more than 6.8% over the forecast period 2020 to 2026.
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Global
Blood Glucose Monitoring Systems Market
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Ken Research
Ankur Gupta, Head Marketing &
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