Glucose monitoring is a necessary step toward managing diabetes. Diabetes is a clinical condition wherein the glucose level in the blood increases due to the inability of the pancreas to produce insulin.
Global Self-monitoring Blood Glucose (SMBG) Market: Introduction
Glucose monitoring is a necessary step toward managing diabetes. Diabetes is a clinical condition wherein the glucose level in the blood increases due to the inability of the pancreas to produce insulin. Self-monitoring blood glucose (SMBG) helps diabetic patients in deciding the dosage of insulin, food intake, and type of physical exercise needed for a day. SMBG is a modern procedure of diabetes management wherein blood glucose meters are used to check glucose levels. This procedure provides a precise measure of capillary glucose concentrations. Apart from blood glucose meters, self-monitoring blood glucose technology also utilizes lancets and test strips to control glycaemia.
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Key Drivers of Global Self-monitoring Blood Glucose (SMBG) Market
Rising prevalence of blood disorders
According to Office of Disease Prevention and Health Promotion, a large number of people in the U.S. have genes for bleeding and clotting disorders and hemoglobinopathies. About 1.2 million U.S. develop blood clots in veins of the leg. This condition is called deep venous thrombosis (DVT). According to WHO World Health Organization, hemoglobin disorders were originally endemic in 60% of 229 countries, potentially affecting 75% of births; however, they are common in 71% of countries among 89% of births (either in the whole population or among minorities), which prompts policy makers to consider the most appropriate strategy for treatment and prevention. At least 5.2% of the world population (and over 7% of pregnant women) carry a significant variant. Hemoglobin S accounts for 40% of carriers but causes over 80% of disorders owing to localized very high carrier prevalence: around 85% of sickle-cell disorders, and over 70% of all affected births occur in Africa. Thus, rising blood disorders is expected to drive the market.
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Rising prevalence of diabetes
According to American Diabetes Association, the prevalence of diabetes for all age-groups worldwide was estimated to be 2.8% in 2000 and 4.4% in 2030. The total number of people with diabetes is projected to rise from 171 million in 2000 to 366 million in 2030. According to WHO, in 2019, an estimated 1.5 million deaths were directly caused by diabetes. Another 2.2 million deaths were attributable to high blood glucose in 2012. According to WHO, the number of people with diabetes rose from 108 million in 1980 to 422 million in 2014. The global prevalence of diabetes among adults over 18 years of age rose from 4.7% in 1980 to 8.5% in 2014. In 2016, an estimated 1.6 million deaths were caused directly by diabetes. In 2012, another 2.2 million deaths were attributable to high blood glucose. Regular checkup and analysis of blood components and management of insulin can reduce diabetic conditions. Thus, the diagnosis of such diseases is expected to drive the market.
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North America to Account for Major Share of Global Self-monitoring Blood Glucose (SMBG) Market
North America is projected to account for a major share of the global self-monitoring blood glucose (SMBG) market during the forecast period. North America is leading the global self-monitoring blood glucose (SMBG) market, as the region has witnessed rapid expansion of the healthcare industry. Growing funding by governments for the development of new and innovative products to treat diabetes are also fueling the self-monitoring blood glucose (SMBG) market in the region. However, a rise in the number of people suffering from diabetes in Asia Pacific is estimated to significantly boost the market in the region during the forecast period.
Key Players Operating in Global Self-monitoring Blood Glucose (SMBG) Market
The global self-monitoring blood glucose (SMBG) market is highly consolidated owing to the presence of several key players. Leading players operating in the global self-monitoring blood glucose (SMBG) market include:
- Abbott Laboratories
- Bionime Corporation
- B. Braun Melsungen AG
- F. Hoffmann-La Roche Ltd.
- LifeScan IP Holdings, LLC
- PHC Holdings Corporation
- Terumo Corporation
- Trividia Health, Inc. (Sinocare Inc.)
- ARKRAY, Inc.
- Ypsomed Holding AG
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