Self-Monitoring Blood Glucose Devices Market Current Trends, Growth Analysis 2022-2028

Precision Business Insights published a research report on "Self-Monitoring Blood Glucose Devices Market: By Product (Blood Glucose Meter, Blood Glucose Testing Strips, Lancets, Others)By End Users( Hospitals, Clinics, Diagnostic Centers, Homecare) - Global/Region/Country Forecast to 2028".

People with diabetes utilise self-monitoring blood glucose (SMBG) devices to track their blood sugar levels. SMBG is typically performed before meals, after a fast, and before bedtime. A drop of capillary whole blood collected on the test strip of the SMBG device or analysis of interstitial fluid through skin prick can be used to evaluate blood sugar levels. Following the reading, the data will be displayed in mg/dL or mmol/L on the SMBG device's electronic display panel.

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Self-monitoring blood glucose monitors are in high demand due to increased knowledge of home monitoring and an emphasis on regular diabetes treatment to limit the risk of hyperglycemia. In addition, the government is launching a number of programmes to raise public awareness about early diagnosis. The National Diabetes Education Program (NDEP) is a collaboration between the NIH and the Centers for Disease Control and Prevention (CDC). The National Diabetes Education Program (NDEP) aims to reduce the prevalence of prediabetes by supplying diabetes-related education to a diverse group of people, including hard-to-reach populations, ethnic minorities, faith-based organisations, community-based organisations, and healthcare providers. Millions of individuals have been afflicted by the global epidemic, which has resulted in significant fatality rates. Because of the significant demand for home care, the pandemic has had a favourable impact on the market for self-monitoring blood glucose monitors. Furthermore, the prevalence of COVID-19 has resulted in a shift in the population's preference for home care. Diabetic patients were frequently controlling blood glucose levels throughout the pandemic to avoid difficulties and hospitalizations, as well as their sensitivity to COVID-19.

On the basis of product, the market is segregated into by product, which is sub-segmented into Test Strips, Blood Glucose Meters, and Lancets. On the basis of application, Type 1 Diabetes, Type 2 Diabetes, and Gestational Diabetes. On the basis of end use, the market is segregated into Hospitals, Home Settings, and Diagnostic Centers.

The high incidence of diabetes and rising healthcare expenditures in North America drove the market for self-monitoring blood glucose devices to gain 37 percent of revenue share in 2020. According to the CDC, 33.5 million Americans had diabetes in 2020, and one in every three people had prediabetes. Obesity, poor eating habits, and other environmental variables all contribute to an increase in the number of patients. Moreover, several government and international organizations' attempts to lessen the illness burden would propel the market forward during the projection period. In 2018, the market for self-monitoring blood glucose devices in China generated USD 756.3 million in sales. Over the projected period, the China self-monitoring blood glucose devices market will be driven by a growing older population prone to various chronic diseases and a high diabetes epidemiology. Rising diabetes and illness monitoring awareness will drive device acceptance across the country, propelling China SMBG device sales even higher.

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Some of the major key players in the Self-Monitoring Blood Glucose Devices Market are Abbott Laboratories (U.S.) ARKRAY, Inc. (Japan) Bayer AG (Germany) Dexcom, Inc. (U.S.) Hoffmann-La Roche Ltd (Switzerland) Johnson & Johnson (U.S.) Medtronic plc (U.S.) Nipro Diagnostics, Inc. (U.S.) Terumo Medical Corporation (U.S.)

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