Global self-monitoring blood glucose market size to expand at 4.2% CAGR through 2027
Self-Monitoring Blood Glucose Market - Overview
The business intelligence report on ‘Global Self-Monitoring Blood Glucose Market’ is consists of business analysis over the historical period of 2017-2019, while studying the prevailing trends and the latest developments to reckon market valuation by the year 2027. It highlights the expansion catalysts, restraints, challenges, and prospects which influence the growth graph the market over 2020-2027.
According to credible sources, worldwide self-monitoring blood glucose market was appraised at USD 8.5 billion in the year 2019 and is projected to showcase a y-o-y growth rate of 4.2% during 2020-2027. Increasing pervasiveness of diabetes across the world, coupled with government focus on creating mass awareness regarding right health treatments are propelling the market growth.
As per the report, the industry sphere is scrutinized based on product terrain, application gamut, and end-use scope. The revenue share held by each segment, and their grow patterns over the analysis timeframe are presented in the document. It further entails the factors propelling the regional market trends, while estimating the contributions of each region during forecast period. Moreover, competitive hierarchy of the industry is elucidated, with vital information such as business profile, product portfolio, as well as expansion strategies of each market players.
It is to be noted that self-monitoring blood glucose (SMBG) devices are vital for management of diabetes. These devices are easy to use and monitor the blood glucose levels in diabetic patients, thereby helping them in accessing insulin dosage.
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As per the data released by International Diabetes Federation, number of adults suffering from diabetes was 463 million in 2019, and this sum is estimated to reach 700 million by the year 2045. Also, as per IDF Diabetes Atlas 2019, total diabetic patients in Europe are poised to cross 68 million by the year 2045.
Hence, increasing cases of diabetes, owing to sedentary lifestyle and genetic causes, in consort with emphasis on safer and faster diagnosis of the disorder are augmenting global self-monitoring blood glucose market scenario.
On the downside, high cost of SMBG devices, and ill-defined medical reimbursement scenario will arrest the remuneration scale of the overall market.
Elaborating the segmentations:
Global self-monitoring blood glucose industry, as per product terrain, is classified into blood glucose meters, lancets, and test strips. Based on application spectrum, the market is fragmented into gestational diabetes, type 2 diabetes, and type 1 diabetes. Meanwhile, the various end-users include diagnostic centers, home settings, and hospitals.
Elucidating geographical outlook:
Key regions scrutinized for understanding worldwide self-monitoring blood glucose market dynamics are Latin America, North America, Europe, and Asia Pacific. As per industry experts, North America contributed significantly towards the industry remuneration in the recent past, owing to swift adoption of innovative devices, alongside presence of major vendors in the region.
To access a sample pages of this report titled “Global Self-Monitoring Blood Glucose Market Size study, by Product (Test Strips, Lancets, Blood Glucose Meters), by Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), by End-Use (Hospitals, Home Settings, Diagnostic Centers) and Regional Forecasts 2020-2027” in detail along with the table of contents, please click the link below:
Parallelly, Asia Pacific self-monitoring blood glucose industry size is touted to grow with strong CAGR over 2020-2027, creditable to soaring proportion of diabetic population in the region, in consort with improved cognizance of SMBG devices among patients in China and India.
Global Self-Monitoring Blood Glucose Market by Product Type (Revenue, USD Billion, 2017-2027)
- Blood Glucose Meters
- Test Strips
Global Self-Monitoring Blood Glucose Market Application Spectrum (Revenue, USD Billion, 2017-2027)
- Gestational Diabetes
- Type 2 Diabetes
- Type 1 Diabetes
Global Self-Monitoring Blood Glucose Market End-use Gamut (Revenue, USD Billion, 2017-2027)
- Diagnostic Centers
- Home Settings
Global Self-Monitoring Blood Glucose Market Regional Overview (Revenue, USD Billion, 2017-2027)
- South Korea
- Rest of APAC
- United Kingdom
- Rest of Europe
- United States
Rest of the World
Global Self-Monitoring Blood Glucose Market Competitive Dashboard (Revenue, USD Billion, 2017-2027)
- Trividia Health Inc.
- Terumo Corporation
- Sanofi S.A.
- PHC Holdings Corporation
- Medtronic plc
- Johnson & Johnson
- F. Hoffmann-La Roche AG
- B. Braun Melsungen AG
- Becton, Dickinson and Company (BD)
- Abbott Laboratories
Global Blood Glucose Monitoring Systems Market Size, Regional Forecasts 2020-2026
Global Blood Glucose Monitoring Systems Market is valued approximately at USD 10.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.8% over the forecast period 2020-2026, as per new research report. A Blood glucose monitoring system is a type of diagnostics system that is used for the care and treatment of diabetes. It is used to measure and monitor the levels of blood sugar in the patients. These systems also help in preventing other health-related conditions such as neuropathy, retinopathy, and cardiovascular diseases. There are several types of blood glucose monitoring systems available in the market varying in price, size, duration of testing time, and ease of utilization.
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