Growth in Blood Glucose Monitoring Market to Get Driven by Increasing Prevalence of Prediabetes and Diabetes: Fortune Business Insights

The global blood glucose monitoring market is expected to register a considerable CAGR as blood glucose monitoring devices enable effective monitoring of diabetes. The above information was shared by Fortune Business Insights in a report, titled "Blood Glucose Monitoring Market Size, Share and Global Trend by Product (Self-Blood Glucose Monitoring, Continuous Blood Glucose Monitoring), By Distribution Channel (Hospital & clinics pharmacies, Retail pharmacies, Online pharmacies, Others), and Geography Forecast till 2026." Blood glucose monitoring devices help to monitor blood glucose levels to keep a check on diabetes. Diabetes occurs when people have high blood sugar levels and prediabetes occurs when people have elevated blood sugar levels. The rising prevalence of prediabetes and diabetes is increasing, which is driving the market.

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Demand for Continuous Blood Glucose Monitoring Device to Increase by 2026

The demand for products such as self-blood glucose monitoring and continuous blood glucose monitoring is likely to increase in the forthcoming years. Among these, continuous blood glucose monitoring is expected to grow at a faster CAGR in the global blood glucose monitoring market. The rising demand for minimally-invasive procedures and growing geriatric population are factors positively impacting the segment's growth. In addition to this, continuous blood glucose monitoring devices provide glucose levels in real-time and gives notifications to patients in case of emergency. On the other hand, self-blood glucose monitoring device is also expected to hold a substantial share in the global blood glucose monitoring market.

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Rising R&D Activities Drives Market in North America and Europe

Among regions, North America and Europe are anticipated to hold the majority of the share in the global market. These two regions witness the highest prevalence of diabetes, which fuels the demand for blood glucose monitoring machines. Furthermore, rising research and development (R&D) activities in these two regions for the development of blood glucose monitoring procedures creates growth opportunities for the market. The wide acceptance of advanced technologies in North America and Europe are likely to contribute to the growth of the market.

The market in Asia Pacific is expected to grow considerably in the forecast years. This is mainly on account of rising adoption of lifestyle changes among people. This can further lead to the emergence of some chronic health problems such as obesity, diabetes, cardiovascular disorders among others. Countries such as China and India are expected to grow at a faster rate owing to the rising prevalence of diabetes. In addition to this, the per capita income of people in these countries is increasing rapidly, which is allowing people to conveniently spend on healthcare. Spurred by such factors, the market is expected to expand in the forecast period in Asia Pacific.

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New Product Launches by Abbott and Roche Helps the Market to Expand

Hoffmann-La Roche Ltd., Abbott, Becton, LifeScan, Inc., Dickinson, and Company (BD), Ascensia Diabetes Care Holdings AG, Johnson & Johnson Services, Inc., and ARKRAY, Inc. are some of the key players functioning in the global blood glucose monitoring market. Among these, Abbott and F. Hoffmann-La Roche Ltd announced the launch of new products to broaden their product portfolio. In August 2016, Roche launched an advanced blood glucose monitoring system enabled with technologies such as spill-resistant test strip vial. A year before this i.e. in April 2015, Abbott successfully launched an innovative and advanced blood glucose monitoring system called Flash Glucose Monitoring System. Recently, in March 2019, a digital healthcare platform called POPS! Diabetes Care Inc. announced the launch of a novel diabetes management system. This system allows diabetic patients to monitor their blood glucose levels in real-time.

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