Blood Glucose Monitoring Market Global Analysis 2022 to 2030 | Industry Demand, Size, Share, Trend, Key Players Review and Fast Forward Research

The global blood glucose monitoring market is expected to grow at a CAGR of 10.70% during forecasted period.

Market Dynamics

The blood glucose monitoring market is one of the fastest-growing markets in the world, owing to rapid urbanization, which has resulted in a rise in obesity, unhealthy eating habits, and physical inactivity, both of which have resulted in an increase in the diabetic population across the world. To prevent further problems, it is important to check the glucose levels on a regular basis. Furthermore, the global blood glucose monitoring market has been fuelled by the introduction of new technologies, increased knowledge, and investment in research and development. While continuous glucose monitoring (CGM) is a more advanced way for people with diabetes to check glucose levels in real time, patients prefer SMBG because it is more affordable and has a simpler interface. As a result, the global rise in the prevalence and incidence of diabetes, as well as the growing adoption of continuous glucose monitoring (CGM) systems, are driving the market's growth. Furthermore, continuous technological advances in blood glucose monitoring systems, as well as the rapid growth of the aging population, are driving up demand for these devices.

The demand for blood glucose monitoring systems is increasing due to features such as cost effectiveness and reliable diagnosis and treatment, which is propelling the blood glucose monitoring system market forward. The blood glucose monitoring system market is influenced by the availability of various blood glucose monitors that vary in ease of use, size, testing time, and price, as well as the effectiveness of these medical devices in preventing other health conditions such as retinopathy, cardiovascular disease, and neuropathy. Furthermore, in the forecast era, technical advancements leading to early detection of hypo and hyperglycemic diabetes, government funding, and the introduction of new products provide lucrative opportunities for blood glucose monitoring device market players.

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Key Players

B Braun Melsungen AG

Abbott Laboratories

Elly Lilly and Company

Hoffmann-La Roche Ltd.

Sanofi

Dexcom, Inc.

Lifescan, Inc.

Medtronic plc

Bayer AG

Segmental Analysis

Global blood glucose monitoring devices market is segmented on the basis of product type, application, and end user

On the basis of the product type, it is segmented into invasive glucose monitoring devices, continuous glucose monitoring devices (CGM), flash glucose monitoring devices, and others.

On the basis of the application, it is segmented into type 1 diabetes, type 2 diabetes, and others.

On the basis of the end user, it is segmented into diagnostic centers, hospitals, clinics, research centers, and home care diagnostics.

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Regional Analysis

The regional segmentation of global blood glucose monitoring market segments the market into regions namely The Americas (North America & South America), Europe, Asia Pacific, and Middle East & Africa (MEA). The Americas command the largest market share due to the notable increasing incidence of obesity, physical inactivity, and unhealthy diet. With medical facilities being more advanced in North America, it is a bigger market than South America. In North America, the biggest markets comprise of the United States of America (USA) and Canada. Many key players in this market are based in the USA.

Due to reasons same as The Americas, in Europe, Western Europe is greater market than Eastern Europe. Europe is the second largest market for blood glucose monitoring, followed by the Asia Pacific in the global blood glucose monitoring market, owing to the environmental pollutants, psychosocial factors, smoking, and socioeconomic deprivation. Furthermore, government support via for research & development (R & D) regarding blood glucose monitoring boosts this market. The biggest markets in Europe, include France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe.

In the Asia Pacific region, the market is growing rapidly due to high population and increasing number of diabetes patients. In this region, people are not as health conscious as they are in North America and Europe. Due to increasing demand for new treatment methods in countries like India and South Korea, Asia Pacific is likely to emerge as the fastest growing market across the globe during the forecast period. Apart from India and South Korea, the biggest markets in this region include Australia and Japan, followed by the rest of Asia Pacific.

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