Press release
Smart Glucose Meter Market to See Huge Growth: Key Players Novo Nordisk, Medtronic plc, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Bayer AG, LifeScan IP Holdings LLC, Dexcom Inc., Sanofi SA, Elly Lilly and Company, and B Braun Melsungen AG
The global smart glucose meter market is expected to grow at a CAGR of over 7.5% during the forecast period. The market growth is attributed to the increasing cases of diabetes, which in turn, is propelling the need for smart glucose monitors and hence driving the market growth.
There is high demand for blood glucose monitoring devices especially among the diabetic population as these devices read blood sugar levels in real-time. The rise in patient awareness and concerns about blood sugar levels has resulted in the increasing number of self-monitoring blood sugar users. This is estimated to fuel the growth of the global smart glucose monitors market.
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Market Segmentation
The global smart glucose meter market has been analyzed on the basis of product type, application, distribution channel, end use, and region. Based on product type, the market is segmented into self-monitoring blood glucose (SMBG) systems and continuous glucose monitoring (CGM) systems. Among these, SMBG is estimated to hold a prominent share in the market while CGM is projected to exhibit a considerable growth rate during the forecast period. Based on application, the market is segmented into type-2 diabetes, type-1 diabetes, and gestational diabetes. Type 2 diabetes is projected to witness substantial growth due to soaring obesity problems.
Based on distribution channel, the market is segmented into online and offline. Among these, offline channel is estimated to hold a prominent share in the market while online segment is estimated grow at a significant rate during the forecast period. By end use, the market is segmented into hospitals, home care, retail pharmacies, diagnostic centers, and others. Among these, hospital segment is estimated to hold a prominent share in the market. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to hold a prominent share in the market.
Market Structure and Competition Landscape
The smart glucose meter market is characterized by the presence of a significant number of players operating in the market. Some of the prominent players include Novo Nordisk, Medtronic plc, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Bayer AG, LifeScan IP Holdings LLC, Dexcom Inc., Sanofi SA, Elly Lilly and Company, and B Braun Melsungen AG among others. These companies use several tactics to reinforce their market share and acquire a competitive advantage over their competitors. Mergers & acquisitions, partnerships and collaborations, expansions, and product launches are some of the strategies followed by industry players. Some of the key developments in the smart glucose meter market include:
• In April 2022, DexCom, Inc launched the new Dexcom ONE Continuous Glucose Monitoring System, which will be available in the UK. The Dexcom ONE system is a simple-to-use real-time CGM (rt-CGM) that will be more inexpensive and accessible for diabetics in the UK and it will be evaluated for inclusion in drug tariffs in the United Kingdom.
• In December 2021, Medtronic plc announced that the US Centers for Medicare & Medicaid Services (CMS) will expand into all forms of continuous glucose monitors (CGMs), including adjunctive and non-adjunctive CGMs, and would be covered by Medicare. CGMs that work with Medtronic insulin Smart Glucose Meter are included in this category.
Objective to buy this Report:
1. Smart Glucose Meter analysis predicts the representation of this market, supply and demand, capacity, detailed investigations, etc.
2. Even the report, along with the international series, conducts an in-depth study of rules, policies and current policy.
3. In addition, additional factors are mentioned: imports, arrangement of commodity prices for the market, supply and demand of industry products, major manufacturers.
4. The report starts with Smart Glucose Meter market statistics and moves to important points, with dependent markets categorized by market trend by application.
5. Applications of market may also be assessed based on their performances.
6. Other market attributes, such as future aspects, limitations and growth for all departments.
Questions And Answers: Global Smart Glucose Meter Market
Q1. What is the CAGR that the Smart Glucose Meter Market is expected to register through the projected duration?
Answer: The Smart Glucose Meter Market is likely to register a CAGR of 7.5% over the forecast period.
Q2. Which Application category is slated to contribute significantly to worldwide Smart
Glucose Meter market earnings?
Answer: Type 2 Diabetes, Type 1 Diabetes, Gestational Diabetes.
Q3. Which Are the Key Players in Global Smart Glucose Meter Market?
Answer: Novo Nordisk, Medtronic plc, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Bayer AG, LifeScan IP Holdings LLC, Dexcom Inc., Sanofi SA, Elly Lilly and Company, and B Braun Melsungen AG among others.
For More Details on This Report: https://www.marketstudyreport.com/reports/global-smart-glucose-meter-market-investment-growth-opportunity-analysis-2019-2028
Ritesh Tiwari
Head - Press and Media
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