At 5% CAGR, Global Blood Glucose Monitoring System Market Size to Surpass USD 12,618 Million By 2026 - Industry Trends, Share, Growth, Analysis & Forecast Report by Facts & Factors

Blood Glucose Monitoring System Market by Product (Self-Monitoring Blood Glucose Systems and Continuous Blood Glucose Monitoring Systems), By Testing Site (Fingertip Testing and Alternate Site Testing), By Indication (Type-I Diabetes, Type-II Diabetes, and Gestational Diabetes), By End-User (Hospitals, Clinics, Homecare, and Others), and By Regions: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 20 According to the findings of our research, the global market for blood glucose monitoring systems are expected to reach approximately USD 12,618 Million by the year 2026 from its current valuation of approximately USD 9,113 Million in 2019. From 2020 to 2026, it is estimated that the market for blood glucose monitoring systems will expand at a CAGR of approximately 5%.

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Introduction:

Monitoring blood glucose is a method that can be used to determine the concentration of glucose in the blood. In the context of the therapy of diabetes, this procedure is very significant. Diabetes is a condition in which the body's ability to process blood sugar is impaired. Diabetes mellitus type 1, type 2, and gestational diabetes are the three types of diabetes that are most commonly seen. The monitoring of blood glucose helps keep track of the fluctuations in blood glucose levels so that corrective actions can be taken.

Market Forces That Are Driving the Global Blood Glucose Monitoring System Industry:

The prevalence of diabetes mellitus continues to rise.
According to a report by the WHO, there were around 1.6 million fatalities caused by diabetes in the year 2016. In 2017, there were over 30 million persons in the United States were diagnosed with diabetes. As a result, the growing number of people diagnosed with diabetes is driving growth in the global market for blood glucose monitoring systems. In addition, serious complications brought on by uncontrolled or untreated diabetes, such as renal failure, blindness, foot ulcers, and so on, are anticipated to raise the demand for blood glucose monitoring systems.

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Blood glucose monitoring systems with superior clinical safety and effectiveness
The blood glucose monitoring device is quite dependable with regard to both the clinical safety and the accuracy of the information that it provides. As a result, there will be an increase in demand for blood glucose monitoring systems during the period covered by the projection. In addition, factors such as rising healthcare costs on a per-person basis, advances in technology, and increased awareness of the importance of clinical safety are anticipated to contribute to an increase in the demand for blood glucose monitoring systems around the world.

Market Impediments for the Worldwide Blood Glucose Monitoring System Industry:

Unappealing reimbursement situation
It is projected that the regularly shifting reimbursement regulations in countries such as the United Kingdom, the United States, and others will act as a barrier to the expansion of the global market for blood glucose monitoring devices. The market will continue to suffer as a result of the falling prices and the uncertainty surrounding healthcare policy.

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Opportunities for the Industry:

Recent Developments in Technology
As a result of the ongoing research as well as the developments that companies have achieved in the blood glucose monitoring system, new chances for the market demand for blood glucose monitoring systems have become available.

Dominance in the Market:

In 2018, the Self-Monitoring Blood Glucose Systems category held a market share that was greater than 69.69% of the overall worldwide Blood Glucose Monitoring System market. It is anticipated that the user-friendliness and cost-efficiency of self-monitoring devices will drive growth in the market for blood glucose monitoring systems worldwide.
In 2018, the Fingertip Testing category held the largest market share, accounting for 84.60% of the total market, and it is anticipated that this category would continue to have the largest market share during the projected period due to its simple operation.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭@https://www.fnfresearch.com/inquiry/blood-glucose-monitoring-system-market-report

Because of the rising prevalence of type 2 diabetes and the development of less invasive new products, the Type-II Diabetes category has a commanding lead in the indication segment. In 2018, it had the greatest market share, accounting for 67.10% of the total.
It is anticipated that the hospital sector would dominate due to rising costs associated with healthcare and improvements made to the infrastructure.

Key Players:

Some of the essential players operating in the global Blood Glucose Monitoring System market, but not restricted include

Hoffmann-La Roche Ltd.
Abbott Laboratories
Sanofi
Nova Biomedical
Lifescan Inc.
B. Braun Melsungen
Ascensia Diabetes Care
Terumo Corporation
ARKRAY Inc.
Ypsomed Holding AG
Becton Dickinson and Company
Medtronic

The taxonomy of the Blood Glucose Monitoring System Market by its scope and segmentation is as follows:

Global Blood Glucose Monitoring System Market: By Product Segmentation Analysis

Self-Monitoring Blood Glucose Systems
Blood Glucose Meters Testing Strips
Lancets & Lancing Devices
Continuous Glucose Monitoring Systems

Global Blood Glucose Monitoring System Market: By Testing Site Segmentation Analysis

Fingertip Testing
Alternate Site Testing

Global Blood Glucose Monitoring System Market: By Indication Segmentation Analysis

Product Type-I Diabetes
Adult
Pediatrics
Product Type-II Diabetes
Adult
Pediatrics
Gestational Diabetes

Global Blood Glucose Monitoring System Market: By End-User Segmentation Analysis

Hospitals
Clinics
Homecare
Others

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Global Blood Glucose Monitoring System Market: By Regional Segmentation Analysis

North America
The U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
South-East Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
The Middle East and Africa
GCC Countries
South Africa
Rest of Middle-East Africa

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