Rapid Increase in End-use Adoption to Self-Monitoring Blood Glucose Devices Market Revenue Growth

Rise in prevalence of diabetes, increase in obese and geriatric population, sedentary lifestyle, technological advancements in diabetes devices and increased need for faster, safer diagnosis and treatment of diabetes drive the growth of the global self-monitoring blood glucose devices market.

However, an inability of blood glucose monitoring devices to measure the exact level of glucose and adverse effects associated with some of the diabetes care devices hinder the market growth. Conversely, the rise in awareness about diabetes monitoring devices as well as high potential in untapped markets in emerging economies are expected to provide lucrative growth opportunities for the market growth.

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According to Allied Market Research, the global self-monitoring blood glucose devices market garnered $7.76 billion in 2017 and is projected to reach $10.82 billion through 2025, growing at a CAGR of 4.2% from 2018 to 2025, the report offers insights on major market segments, top investment pockets, key player positioning, drivers & opportunities, and strategic developments in the industry.

Major Players:

• Abbott Laboratories
• Becton
• Dickinson and Company
• B. Braun Melsungen AG
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson
• Medtronic plc
• PHC Holdings Corporation
• Sanofi S.A.
• Terumo Corporation
• Trividia Health Inc.

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Test strips product segment to retain its lion's share through 2025 -

Among products, the test strips segment captured 81% of the total market share in 2017 and would maintain its lion's share throughout the study period. This is due to the widespread availability of test strips and the cost-effective nature of these products. However, the lancets segment is expected to grow at the fastest CAGR of 6.2% from 2018 to 2025. The blood glucose meters segment is expected to grow at a steady rate during the forecast period.

Type 2 diabetes application segment to be lucrative through the study period

The type 2 diabetes segment accounted for three-fourths of the total market share in 2017 and is expected to maintain its dominance through 2025. The segment is expected to grow at the fastest CAGR of 4.4% during the forecast period, as it is the most prevalent form of diabetes, which affects a greater percentage of the population. The other applications analyzed in the study are type 1 diabetes and gestational diabetes.

Home settings end-user segment to capture the highest share and grow at the fastest rate -

Among end users, the hospital's segment held 41% of the total market share in 2017 and would maintain its highest share by 2025, registering the fastest CAGR of 4.9% during the forecast period. This is attributed to the advent of portable, user-friendly glucose meters that can be used at home. The diagnostic center's segment is expected to grow at a steady rate during the forecast period.

Key Benefits for Stakeholders:

• The study provides an in-depth analysis of the global self-monitoring blood glucose devices market with current trends and future estimations from 2018 to 2025 to elucidate the imminent investment pockets.

• Comprehensive analysis of the factors that drive and restrict the growth of the market is provided.

• Identification of factors instrumental in changing the market scenario, the rise in opportunities, and identification of key companies that can influence this market on the global & regional scale are provided.

• Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.

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