Vision 2025 - The Future of Global Glucose Meter Market Transformations and Growth Opportunities

Market Overview

One of the growth drivers for the global BGM device market is the availability of reimbursement options for glucose meters. Generally, it has been noted that glucose meter devices must be replaced within six to eight months and are very expensive. As a result, most people prefer selecting health insurance plans that cover almost 80% of the total expenditure on healthcare devices. Such schemes also cover the cost of diabetes testing supplies, blood glucose test strips, and blood glucose meters. For instance, Medicare, the federal health insurance program in the US, covers approximately 80% of the cost of BGM devices for people with diabetes

Another key trend that fosters market growth is the recent increase in online marketing strategies. To increase the sales and brand equity, vendors are increasing their online marketing and promotional activities. Also, since online channels reduce the set-up and operational costs and provide easy access for the customers, the demand for online purchase of glucose meters is growing. Some of the leading vendors provide online services for purchasing blood glucose meters, blood glucose strips, and lancets. All these factors, together, intensify the level of market competition in the forthcoming years.

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Extensive research carried out by the analysts has also shown that the American Association of Diabetes Educators has released a reimbursement procedure for primary care practice, which states that the costs of medical services that are incurred by diabetic patients can be reimbursed through Medicare. Due to the availability of such reimbursement facilities, the sales of BGM devices have increased.

Industry Top Player’s

Roche, JNJ, Bayer, Abbott, Omron, Arkray, Grace, B.Braun, I-SENS, Inc, Infopia Co., Ltd, Hainice Medical Inc, Mendor, All Medicus Co., Ltd, 77 Elektronika Müszeripari Kft, Delta Group, Ok Biotech, Medisana, FIFTY50(USA), Nova Biomedical(USA), Oak Tree Tree Health, Inc.(USA), Omnis Health(USA), Simple Diagnostics(USA), US Diagnostics(USA), SD Biosensor, INC(Korea), Nipro, Terumo Corporation, Homemed (Pty) Ltd(South Africa), Sannuo, Yuwell Medical, YICHENG

The market is highly fragmented with the presence of several large and small vendors, due to which it witnesses an intense competitive environment. To develop new products and enhance the competitiveness, most vendors partner with other vendors of the market. For instance, a vendor known as Ascensia Diabetes Care partnered with Medtronic for developing and marketing diabetes management solutions. Furthermore, to develop and market test strips and blood glucose meters, vendors are also undertaking strategic alliances due to which the market presents a significant opportunity for new players.

Market Segments

Market Segment by Regions, regional analysis covers
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
• 0.5uL/0.6uL
• 1uL
• 1.5uL
• Others

Market Segment by Applications, can be divided into
Medical, Home Care

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