Blood Glucose Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Blood Glucose Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

  • Transparency Market Research
  • Ongoing
  • Medical Equipments

Report Description

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Blood glucose monitoring devices are used to measure the amount of glucose in blood. Blood glucose monitoring devices are widely utilized by diabetic patients in order to keep the level of glucose in the blood within desired range. Blood glucose monitoring devices help diabetic patients determine the levels of glucose in their blood, in order to maintain the proper glucose levels and thereby prevents the chances of developing further complications arising from high or low glucose levels. Different types of blood glucose monitoring devices such as continuous glucose monitoring devices, glucose meters, glucose monitoring strips, and lancets are available. Most devices have inbuilt software systems to record glucose levels in different formats such as graphs and charts.

The rising prevalence and incidences of diabetes patients worldwide is likely to be a key driving factor for the global blood glucose monitoring devices market during the forecast period. Rapidly increasing geriatric population in developed countries such as the U.S., Germany, France, the U.K. and Japan is projected to fuel the demand for blood glucose monitoring devices in the near future. Increasing risk of developing diabetes in the obese population has led to the adoption blood glucose monitoring devices. Moreover, increased awareness and concern about blood glucose levels among diabetic patients has led to the significant increase in demand for blood glucose monitoring devices in homecare settings and diagnostics laboratories. Technological advancements in the continuous glucose device monitoring devices, consisting of disposable sensors and ease of use by means of wireless touchscreen display, is projected to drive the demand for  blood glucose monitoring devices. However the high cost of continuous glucose monitoring devices is likely to hamper the market during the forecast period. New product launch and approvals by the FDA and other healthcare regulatory institutes represents significant opportunities for global players operating in this market.

The global blood glucose monitoring devices can be segmented based on product type, end-user, and region. In terms of product type, the market can be classified into continuous glucose monitoring systems, blood glucose meters, glucose monitoring strips, and lancets. The glucose monitoring strips segment accounted for a key share of the global blood glucose monitoring devices in 2016. The blood glucose meters segment is projected expand at a significant growth rate during the forecast period. Based on end-user, the global blood glucose monitoring devices can be segmented into hospitals and clinics, diagnostics centers, and home care settings. The hospital segment is projected to account for a leading share of the global blood glucose monitoring devices market by the end of 2025.

In terms of region, the global blood glucose monitoring devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are projected to dominate the global market owing to the large population with diabetes, rapidly increasing geriatric and obese population, and high per capita healthcare expenditure in these regions. The market in Asia pacific is anticipated to expand at a significant growth rate during the forecast period due to the large number population of India and China. According to the International Diabetes Federation, more than 60% of world’s diabetic population lives in Asia, with more than half of it in China and India together. The market in Latin America and Middle East & Africa is likely to expand at moderate growth rate during the forecast period.

Key players operating in the global blood glucose monitoring devices include Abbott Laboratories, ARKRAY, Inc., Medtronic plc, Novo Nordisk A/S, Sanofi, F. Hoffmann-La Roche Ltd., Terumo Corporation, Novo Nordisk A/S, LifeScan, Inc., Johnson & Johnson, Becton, Dickinson and Company. A key trend of new product development and approval is observed among global players.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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