The market of glucose monitoring devices is highly vibrant. The global glucose monitoring devices market is expected to reach USD XXmillion by 2022 from USD XXmillion in 2016, at a CAGR of XX%. In last one decade, a large number of diabetes patients’ cases being recorded worldwide. Blood glucose monitoring devices are used to monitor the blood glucose in patients suffering from diabetes or other glucose-related diseases like glucose intolerance. Eventually a need for continuous monitoring of blood glucose levels is on a rise to avoid the bad consequences such as cardiovascular diseases, blood disorder, blindness, kidney disorder and many other conditions.
The rapid increase in diabetes has shown a steady growth in the overall blood glucose monitoring market. WHO estimated the prevalence of diabetes among adults over 18 years of age to have risen from 4.7% in 2012 to 8.5% by 2014. With that the diabetes due to high blood glucose level I expected to be ranked 7th leading cause of death by 2030. Moreover, such patients are at a potential risk of having multiple associated chronic and life threatening diseases globally. This has led to the spread of awareness about continuous monitoring of blood glucose level. With rising awareness for better health and education regarding blood glucose level, this factor majorly drives the growth of glucose monitoring devices market.
With high support for the growth of this market, there are several factors limiting the growth of this industry in particular such as high cost of diagnosis and treatment especially in the emerging market. Despite having the massive potential for growth, the emerging economies find it difficult to include in day to day life in the large patients pool due to lack of proper understanding of multiple associated diseases, traditional influence in rural places, inadequate reimbursements and support for innovation technologies. These factors highly affects the prospects of growth in most part of the world.
This market is highly fragmented because of several large and small companies collaborating in an intense competitive environment. The market is segmented based on self-monitoring devices, continuous monitoring devices and on the application in various areas. Self-monitoring devices are the conventional methods of blood glucose monitoring and have been used for decades. They have found their utilization in homes, hospitals and clinic setups. The self-monitoring devices market has been further segmented into blood glucose meters, blood glucose strips, lancets, and others. The glucose monitoring strip market has the largest market size. However, recent technological innovations have seen the growth of the continuous glucose monitoring (CGM) devices. These are small wearable devices that track glucose throughout the day and night, notifying of the highs and lows of sugar levels. They are real-time monitoring devices that have helped in better diabetes management. The continuous glucose monitoring devices market is segmented into sensors, transmitters and activators, insulin pumps and others. The sensors, owing to their small life cycle, have the highest demand and also account for the highest market share.
Some of the key players in this market include –
Abbott Laboratories, F. Hoffmann-La Roche Ag, Bayer Healthcare Ag, Medtronic Inc, Dexcom Inc, Arkay Inc, Novo Nordisk A/S, Terumo Corporation, Lifescan Inc, Insulet Corporation and Others
Market analysis for the market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the Glucose Monitoring Devices Market. Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.