Diabetes Monitoring Devices Market Growth Drivers, Business Strategies and Future Prospects (2022-2027)

An alarming rate of diabetes prevalence among both children, and adults continues to drive demand for diabetes monitoring devices. Aggravating rate of obesity in a sizeable population across the globe remains the most vital risk factor associated with the prevalence of diabetes type 2. While this has been a prominent trend across the developed western world over the years, it has also been influencing the developing regional markets over the past couple of decades. Diabetes monitoring devices will thus be high in demand over the course of next few years.

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A new ongoing market intelligence study of Fairfield Market Research indicates an impressive growth outlook for global diabetes monitoring devices market. With increasing introduction of products like continuous glucose monitoring devices that have an edge over traditional blood glucose meters in terms of accuracy, demand for diabetes monitoring devices is likely to be on an upswing.

Brands to Benefit from Evolving Patient Preferences, and Growing Awareness

Elevated, and uncontrolled blood sugar levels can potentially result in complications like complete/partial blindness, lower extremities amputation, renal failure/kidney-related disorders, high blood pressure, and even stroke and heart attack. Increasing patient awareness regarding this has been significantly benefiting the brands manufacturing innovative diabetes monitoring devices. While growing inclination toward minimally invasive procedures remains a strong push factor for break-through introductions like no pain blood glucose monitoring systems, the same tends to further encourage diabetic patients to opt for diabetes monitoring devices rather than repeatedly visiting healthcare providers for mere monitoring.

Growing Preference for Home Monitoring Bodes Well for Market

The home healthcare sector firms up, and a majority of patients have already turned to self-management of diabetes with devices such as glucometers, and insulin pumps. Moreover, hospitals, physicians, as well as diabetes care facilities are increasingly recommending home monitoring, and self-management of diabetes and associated conditions. This according to the report will serve as a significant growth booster to market.

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Competition Analysis - Diabetes Monitoring Devices Market

As diabetes demands frequent monitoring of blood glucose levels, and a few other parameters, brands have been focusing on innovating technologically advanced models that are suitable for usage not only at homes but also at workplaces. Online sales have been playing a crucial role in shaping up the demand dynamics of such diabetes monitoring devices. Some of the leading brands like Genteel, Bayer, One Touch, and Accu-Chek continue to record notable online sales. The competition is likely to heat up with growing focus of companies on innovations. Some of the top players stirring competition in the diabetes monitoring devices market, include Abbott Diabetes Care, Dexcom Inc., Roche Holding AG, Lifescan, and Medtronic PLC.

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