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Self-Monitoring Blood Glucose Devices Market Size Expected to Reach $10,828 Million by 2025, At a CAGR of 4.2%

06-13-2019 07:11 PM CET | Health & Medicine

Press release from: Allied Market Research

Self-Monitoring Blood Glucose Devices Market

Self-Monitoring Blood Glucose Devices Market

The growth of the global self-monitoring blood glucose devices market is majorly driven by increase in prevalence of diabetes, majorly type 2 diabetes. Other factors that boost the market growth include technological advancements in diabetes devices, rise in obese population, sedentary lifestyle, surge in need for faster and safer diagnosis & treatment of diabetes, and increase in geriatric population worldwide. Blood glucose monitoring devices present readings in a range rather than the exact number, which in turn could hamper the growth of the market. Conversely, high potential in untapped markets in the emerging economies are expected to provide lucrative growth opportunities for the market.

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The home care segment is projected to exhibit the highest growth during the forecast period owing to emergence of portable self-monitoring blood glucose devices and reduced overall cost of home diabetes care. Among applications, the type 2 diabetes market is expected to witness the highest growth due to surge in prevalence of type 1 diabetes.

Global Opportunity Analysis and Industry Forecast, 2018-2025," the market was valued at $7,768 million in 2017, and is projected to reach $10,828 million by 2025 at a CAGR of 4.2% from 2018 to 2025.

Diabetes is a clinical condition where the glucose level in blood increases due to inefficiency of pancreas to produce insulin. Diabetes management is used to control the blood sugar levels, which can be monitored by using blood glucose meters. Self-monitoring blood glucose devices are used to track and monitor blood glucose levels in diabetic patients.

The self-monitoring blood glucose devices market is anticipated to exhibit significant growth in the near future, owing to factors such as rise in prevalence of diabetes, surge in obese population who are prone to diabetes, technological advancements in diabetes devices, and surge in need for faster & safer diagnosis as well as treatment of diabetes. However, blood glucose monitoring devices do not measure the exact level of glucose in blood, whereas provide the readings in the form of a particular range. In addition, adverse effects associated with some of the diabetes care devices hinder the market growth. Rise in awareness about diabetes monitoring devices and untapped market opportunities in the developing regions are expected to provide numerous opportunities for the market growth.

North America accounted for more than two-fifths share of the global market in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of diabetes, growth in geriatric population, and adoption of sedentary lifestyle of people that leads to diabetes. In addition, high adoption rate of technologically advanced devices and presence of sophisticated healthcare infrastructure are expected to offer new growth opportunities to the market players in future.

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The key players profiled in the report include Abbott Laboratories, Becton, Dickinson and Company, B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd., Johnson & Johnson, Medtronic plc, PHC Holdings Corporation, Sanofi, Terumo Corporation, and Trividia Health, Inc.

The other players in the value chain include ARKRAY USA, Nova Biomedical, Bionime Corporation, Sinocare, Inc., and All Medicus Co., Ltd. These players have not been profiled in the report but can be included on request.

Table of Content

Chapter: 1: INTRODUCTION
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.3.1. List of key players profiled in the report
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2: EXECUTIVE SUMMARY
2.1. Key Findings of the Study
2.2. CXO perspective

Chapter: 3: MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Market Share Analysis, 2017 (%)
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Increase in the incidence rate of diabetes
3.4.1.2. Rise in geriatric population
3.4.1.3. Technological advancements in diabetes monitoring devices
3.4.1.4. Rise in risk factors that lead to diabetes
3.4.2. Restraints
3.4.2.1. Inaccurate results
3.4.3. Opportunity
3.4.3.1. Increase in awareness for diabetes monitoring devices
3.4.3.2. Untapped market opportunities in the developing regions
3.4.4. Impact analyses

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Web: www.alliedmarketresearch.com

About US:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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