|01-11-2019 06:21 PM CET - Health & Medicine||
Top Companies Profiled in Self-Monitoring Blood Glucose Devices Market are Abbott, Ascensia Diabetes Care, ARKRAY,Inc., Nova Biomedical
Press release from: Global Market Insights
Technological innovations in self-monitoring blood glucose devices leading to development of portable, user-friendly and high efficiency self-monitoring blood glucose devices will boost the market growth over the analysis period.
For instance, in 2015, Dexcom launched Dexcom G4 Platinum, consisting of an in-built hypoglycemia safety alert, customizable alerts to monitor rise and fall above user-selected limits as well as water-resistant sensor with attached transmitter. It works with Dexcom share app that sends real-time glucose values to the cloud allowing caregivers to monitor blood glucose readings. Increasing adoption of such technologically advanced self-monitoring blood glucose devices for diabetes management will upsurge the self-monitoring blood glucose devices market size throughout the forecast period.
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Testing strips segment accounted for the largest market share of around 80% in 2017 and is projected to manifest similar trend during the forecast period due to rising prevalence of diabetes worldwide. Developments in testing strips such as Solo meter that contains 4-leads on the testing strips helps to provide rapid and more accurate test results. Aforementioned factors will spur testing strips market size throughout the forecast period.
Continuous glucose monitors (CGM) segment is expected to witness highest CAGR of 5.7% during the analysis timeframe. These devices are generally used in patients that require frequent blood glucose monitoring over a period. CGM systems help to predict future events of hypo or hyperglycemia up to 60 minutes and provides information regarding clinically relevant glucose patterns. Such benefits of continuous glucose monitors in elderly or ICU patients will accelerate segmental growth over the forthcoming years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Ascensia Diabetes Care
• Nova Biomedical
• Bayer Pharmaceuticals
• BKK B. Braun Melsungen AG
• BIONIME GmbH
• Essenlife Bioscience Inc.
• Roche Diagnostics Europe
• Roche Diagnostics Middle East
• Sinocare Inc.
Hospitals segment dominated the self-monitoring blood glucose devices market with a revenue of USD 6.9 billion in 2017 and is anticipated to show significant growth over the analysis period. Increasing need for efficient, accurate and continuous blood glucose monitoring in ICUs to monitor the risk of hypo or hyperglycemia in patients will boost the demand for advanced glucose monitors in hospitals. Availability of advanced healthcare facilities as well as presence of skilled professionals will drive the segmental growth over the forecast timeframe.
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North America market dominated the market with 39.1% revenue share in 2017 and is estimated to show robust growth over the analysis period. Growing prevalence of diabetes in the region is the key driver that will boost the self-monitoring blood glucose devices market growth over the coming years. Prevalence of obesity is high due to lifestyle changes, unhealthy dietary habits and other environmental factors escalating diabetic population. Moreover, awareness among people regarding diabetes management coupled with high demand for advanced diabetes care products will flourish the regional self-monitoring blood glucose devices market in the foreseeable future.
Self-Monitoring Blood Glucose Devices Market by Product
o Self-monitoring blood glucose meters
o Continuous glucose monitors
o Testing strips
Self-Monitoring Blood Glucose Devices Market by End-User
o Home settings
o Diagnostic centers and clinics
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