Press release
Glucometer Market Growing Popularity & Emerging Trends
Glucometer
The Business Research Company presents an extensive market research report on the Glucometer Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The glucometer market size has grown rapidly in recent years. It will grow from $13.15 billion in 2023 to $14.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to insurance coverage, consumer education, healthcare industry integration, healthcare awareness programs.
The glucometer market size is expected to see rapid growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to the rising prevalence of diabetes, increasing healthcare infrastructure expenditure, growing geriatric population, increasing demand for self-monitoring devices. Major trends in the forecast period include artificial intelligence in healthcare, remote monitoring and telehealth, advancements in technology, and increasing collaboration.
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Key Market Players:
Major companies operating in the glucometer market report are Johnson & Johnson Services Inc., Bayer AG, Abbott Laboratories, F. Hoffmann-La Roche Ltd., Medtronic plc., Arkray Inc., B Braun Melsungen AG, Omron Corporation, Terumo Corporation, Nipro Corporation, Dexcom Inc., Bionime Corporation, LifeScan Inc., NOVA Biomedical, Sinocare Inc., TaiDoc Technology Corporation, i-SENS Inc., EKF Diagnostics Holdings plc, ForaCare Inc., LabStyle Innovations Corp., Acon Laboratories Inc., Ascensia Diabetes Care Holdings AG, Omnis Health LLC, Entra Health Systems LLC, Hainice Medical Inc., Glucostratus Ltd., PTS Diagnostics, Ypsomed AG, WaveForm Technologies Inc., Medtrum Health Inc., Dexilon S.r.l., Cellnovo Group
Market Drivers:
The increase in the prevalence of diabetes is driving the demand for the glucometer market going forward. Diabetes is a long-lasting metabolic condition. It is characterized by high blood glucose (also known as blood sugar) levels, which over time cause significant harm to the heart, blood vessels, eyes, kidneys, and nerves. People who are suffering from diabetes use a glucometer to monitor their blood glucose levels. Therefore, with an increase in diabetes among people, the demand for glucometers is also increasing. For instance, in December 2021, according to the statistics published by International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20-79 years) recorded living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide will have diabetes. Therefore, the increase in the prevalence of diabetes drives the glucometer market.
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https://www.thebusinessresearchcompany.com/report/glucometer-global-market-report
The glucometer market covered in this report is segmented -
1) By Product: Continuous Glucose Monitoring Devices, Self-Monitoring Blood Glucose System
2) By Technique: Invasive, Non-Invasive
3) By Distribution Channel: Institutional Sales, Hospitals, Clinics, Retail Sales, Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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