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Global Glucose Monitoring Devices Market SWOT Analysis & Technological Innovation by Leading Industry Expertsdiamontech GmbH, 77 Elektronika Kft, Abbott, OrSense Ltd., GlySens Incorporated., Novo Nordisk India Pvt Ltd, Nemaura., PHC Holdings Corporation
Global Glucose Monitoring Devices Market
Market Analysis: Global Glucose Monitoring Devices Market
Global glucose monitoring devices market is registering a substantial CAGR of 7.81% in the forecast period of 2019-2026. This rise in the market can be attributed to the growing occurrence of diabetes, increasing awareness about the self-management of diabetes and quickly fluctuating regulatory policies and beneficial investment policies.
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Market Definition: Global Glucose Monitoring Devices Market
The rise in the diabetes globally is driving the need for glucose monitoring. Glucose monitoring keeps track of the blood glucose levels and helps to make balance between food and exercise. It tracks and measures the glucose levels and the readings are derived into the data for keeping track and to take decisions regarding dosage, diet and exercise. Due to changing blood sugar levels it has become necessary to track it regularly. The glucose monitoring devices are available at the pharmacy stores and online stores. The device consist lancet to prick the figure a machine and bandages to stop the blood. It is widely being used in the hospitals as well as people use it at homes.
Market Drivers
o Growing occurrence of diabetes is driving the growth of the market
o Increasing awareness about the self-management of diabetes is contributing to the growth of the market
o Quickly fluctuating regulatory policies and beneficial investment policies is boosting the growth of the market
o The amount of precision of the sample consequence, advice and medicine is driving the development of the industry
Market Restraints
o Strict regulation of glucose monitoring devices by regulatory organizations, like FDA, is restricting the growth of the market
o High cost associated with the frequent blood glucose tests is hindering the growth of the market
o Rapid technological advancement in glucose monitoring devices is hampering the growth of the market
Key Developments in the Market:
o In May 2019, LifeScan declared that it has signed a contract with Sanvita Medical, LLC, to supply continuous glucose monitoring (CGM) devices. Throughout this partnership, the businesses intend to introduce CGM schemes in North America and pick nations in Europe as soon as a mid-next year and then spread to other economies around the globe.
o In January 2019, Eris Lifesciences and Medtronic Pvt. Ltd. revealed its partnership on Diabetes Monitoring Project in India. Both corporations will use their corresponding talents to help patients properly monitor their diabetes. Medtronic will take its recent authorized Guardian Connect tool to India to evaluate glucose variation in clients with diabetes in real-time.
Competitive Analysis:
Global glucose monitoring devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of glucose monitoring devices market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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