Global Self-Monitoring Blood Glucose Market

Global Self-Monitoring Blood Glucose Market was valued US$ 7.80 Bn in 2019 and is expected to reach US$ 16.10 Bn by 2027, at a CAGR of 9.48 % during a forecast period.

The report has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same is reflected in our analysis.

The self-monitoring blood glucose monitoring has become an integral part of diabetes care. The Self-monitoring blood glucose aids diabetic patients in determining the dosage of insulin, food intake, and type of physical exercise needed. It is a modern procedure of diabetes management, which is widely used for checking glucose levels.

Global Self-Monitoring Blood Glucose Market, Dynamics:

Market Drivers:

The population of diabetes patients are expected to increase at a rapid rate during the forecast period. The Centers for Disease Control estimates that more than 30 million people newly diagnosed diabetes patients in 2019 in the United States. Furthermore, the World Health Organization forecasts the global diabetes population is expected to grow from 463 million in 2019 to 578 million by 2030. In addition, growth in obese population, geriatric population worldwide, and an adoption of sedentary lifestyle demand for faster and safer diagnosis & treatment of diabetes are some of the prominent factors, which are expected to boost the global self-monitoring blood glucose market growth during the forecast period.

Technological advancements in diabetes devices and availability of diabetes software programs, which allow medical professionals to easily download patient data from glucose meters are also expected to drive the market growth. It is expected to facilitate more open communication between healthcare providers and patients about blood glucose monitoring.
Despite the self-monitoring blood glucose monitoring has become an integral part of diabetes care, it has some limitations in accuracy. It can be limited because of the strip manufacturing variances, strip storage, and aging. It has also some limitations on the environment such as temperature or altitude or to patient factors such as improper coding, incorrect hand washing, and altered hematocrit, which is expected to hamper the market growth.

Global Self-Monitoring Blood Glucose Market, Segment Analysis:

The test strips segment held the xx% market share in 2019 and is projected to remain dominant during the forecast period because of economical pricing of test strips over glucose meters. In addition, easy availability of these strips are also expected to boost the global self-monitoring blood glucose market. The Blood glucose test strips are used to measure the glucose level in the blood. High adoption and expenditure on testing strips by diabetes patients are expected to contribute xx% share in the market. For instance, in the UK, 90% diabetes patients are prefering blood glucose meter with testing strips. The technology advancements in testing strips like the Solo meter helps to provide rapid and more accurate test outcomes. The developments coupled with availability of test strips at affordable cost are expected to boost testing strips market growth during the forecast period.

Global Self-Monitoring Blood Glucose Market, Regional Analysis:

North America held the dominant position in 2019 and is projected to continue its dominance during the forecast period. Growing prevalence of diabetes across the developed countries are expected be the key drivers that will boost the market growth. The prevalence of obesity is increasing because of the physical inactivity, unhealthy food consumption and other lifestyle factors, which also increases the diabetic population base. In addition, preference for CGMs, rise in awareness among people regarding diabetes management along with greater demand for advanced diabetes care products are expected to drive the North America self-monitoring blood glucose devices industry growth during the forecast period.

In the region, large number of self-monitoring blood glucose devices manufacturers are focusing on the development and manufacture of novel diabetes products to meet the medical need of patients with the favorable support of the government. For instance, the U.S. Food and Drug Administration has granted clearance for DarioHealth Corp, who is the manufacturer of Dario blood glucose monitoring system for its components such as meter, test strips, and apps on the Apple iOS 6.1 platform. The key developments are expected to augment the global self-monitoring blood glucose devices in the near future.

Global Self-Monitoring Blood Glucose Market, Competitive Analysis:

Technology innovations is an important aspect of the self-monitoring blood glucose market , which allows the SMBG vendors to remain competitive with each other and have contributed to the foreseeable fluctuations in market share gains. An emergence of continuous blood glucose monitoring, where a sensor implanted under the skin provides continuous glucose measurements is becoming recent technology trends in the market. The growth in competitive nature of the SMBG business is expected be difficult for a new entrant to succeed in the SMBG market in the absence of a truly major technological innovation. Furthermore, the penetration from private-label brands in retail outlets at discounted prices has increased. Major drug store chains have their own self-monitoring blood glucose brands, which has driven the overall average price per test strip downward.

The objective of the report is to present a comprehensive analysis of the Global Self-Monitoring Blood Glucose Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Self-Monitoring Blood Glucose Market dynamics, structure by analyzing the market segments and projects the Global Self-Monitoring Blood Glucose Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Self-Monitoring Blood Glucose Market make the report investor’s guide.
Scope of the Global Self-Monitoring Blood Glucose Market

Global Self-Monitoring Blood Glucose Market, By Product Type

• Glucose meters
• Lancets
• Test strips
Global Self-Monitoring Blood Glucose Market, By Distribution Channel

• Online retailers
• Hospital pharmacies
• Retail pharmacies
• Mail order pharmacies
Global Self-Monitoring Blood Glucose Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Self-Monitoring Blood Glucose Market

• Abbott Laboratories
• Ascensia Diabetes Care Holdings AG
• All Medicus Co. Ltd.
• Arkray Inc.
• B. Braun Melsungen AG
• Bayer Corporation
• Bionime Corporation
• Dexcom Inc.
• Essenlife Bioscience Inc.
• Eumed Biotechnology Ltd.
• F. Hoffmann-La Roche
• Johnson & Johnson
• Medtronic plc
• Nova Biomedical
• Sinocare
• Rossmax
• Medisana

For More Information Visit @:https://www.maximizemarketresearch.com/market-report/global-self-monitoring-blood-glucose-market/77583/

 

 This Report Is Submitted By :Maximize Market Research Company

Customization of the report:

Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities.

About Maximize Market Research: 

Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.

 

 

 

 

 

Comments are closed