Published on : Nov 17, 2014
The global glucose monitoring market has a growth rate that is directly linked to the growing number of diabetics in the world. Their numbers have prompted the need for more efficient and innovative diabetes management devices, especially when it comes to glucose monitoring. Glucose monitoring helps diabetics manage the disease and lessen or negate the problems it causes. Effective glucose monitoring equipment can allow a patient to take better decisions about food consumption, amount of physical activity, and the type of medications ingested.
The glucose monitoring products aimed at measuring A1C levels are in great demand as the stabilization of A1C reduces the risks of long terms complications in diabetes. The other driving factors of the glucose monitoring market are innovation of technology such as the development of artificial pancreas and rising rate of diabetes awareness in developed and developing nations. The restraining factors of the glucose monitoring market are strict regulatory impositions, lack of accuracy in regular monitoring equipment, and the overall high cost of glucose monitoring equipment.
A generalized perspective of the global glucose monitoring market can be achieved through segmentation between usage at healthcare institutes, diagnostic clinics, and home environments. The home environment segment is expected to show the highest amount of growth in the near future. Another aspect of segmentation includes the use of periodic and continuous glucose monitoring systems. Continuous glucose monitoring devices are newer, costlier and less accurate than the conventional devices used. As all devices are classified under medical categories, the Food and Drug Association (FDA) controls the approval of devices. Some of the top companies in the global glucose monitoring market include Roche, Johnson & Johnson, Abbott, and TERUMO.