Press release
Blood Glucose Meters Market Expands with Key Drivers and Market Segments || Johnson & Johnson, Roche Holding AG, Bayer AG, Abbott Laboratories, Medtronic plc, Becton & Dickinson and Co., B Braun Medical lnc., Dexcom Inc
Blood Glucose Meters Market
The Business Research Company offers in-depth market insights through Blood Glucose Meters Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The blood glucose meters market size has grown strongly in recent years. It will grow from $17.32 billion in 2023 to $18.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increasing diabetes prevalence, rise in awareness of diabetes management, growing aging population, home healthcare trends, insurance coverage and reimbursement policies, patient empowerment.
The blood glucose meters market size is expected to see strong growth in the next few years. It will grow to $26.09 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to continuous glucose monitoring (cgm) integration, smartphone connectivity, artificial intelligence (ai) applications, focus on wearable devices, remote patient monitoring. Major trends in the forecast period include technological advancements in monitoring devices, continuous glucose monitoring (cgm) integration, smartphone connectivity, miniaturization and portability, data analytics and insights, telehealth and remote monitoring.
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Market Segmentation:
The blood glucose meters market covered in this report is segmented -
1) By Product type: Electrode Type Blood Glucose Meter, Photoelectric Blood Glucose Meter
2) By Application: Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes
3) By End User: Hospitals, Home Care
Major Driver - Rising Prevalence Of Diabetes In Blood Glucose Meters Market
The rising prevalence of diabetes is driving the blood glucose meters market. The changing lifestyle, increase in alcohol consumption, physical inactivity, and unhealthy eating habits are leading to an increase in obesity across the globe. Such exponential growth in obese people is causing a stern increase in the purchase of blood glucose meters. Due to obesity, fat tissues release more fat molecules into the blood affecting insulin-responsive cells, which results in reduced insulin sensitivity, in turn, causing diabetes. According to the study by the International Diabetes Federation (IDF), there will be a 48% increase in diabetes around the world by 2045. According to the International Diabetes Federation (IDF) in 2021, nearly 537 million people were suffering from diabetes.
Competitive Landscape:
Major companies operating in the blood glucose meters market report are Johnson & Johnson, Roche Holding AG, Bayer AG, Abbott Laboratories, Medtronic plc, Becton & Dickinson and Co., B Braun Medical lnc., Dexcom Inc., Tandem Diabetes Care, LifeScan lnc., Ascensia Diabetes Care, Lifespan Corporation, Medisana GmbH, I Sens Inc., Infopia Co.Ltd., Rossmax International Ltd., 77 Elektronika Kft, ACON Laboratories lnc., Arkray Inc., Bionime Corporation, Agamatrix Inc., Prodigy Diabetes Care LLC, DiaMon Tech GmbH, Mendor, Hainice Medical lnc., Nipro Corporation, Omron Healthcare lnc., Trivida Functional Medicine, All Medicus Co. Ltd., Sanofi S.A., Nova Biomedical Corporation, The Ypsomed Group
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Top Trend - Innovations Driving The Blood Glucose Meters Market With Point-Of-Care Blood Glucose Monitor
The launch of new products is a key trend gaining popularity in the blood glucose meters market. Companies in the market are focusing on the launch of new products to improve their product portfolio and strengthen their market position. For example, in January 2022, Roche, a Swiss multinational healthcare company, launched its new point-of-care blood glucose monitor designed for hospital professionals, with a companion device shaped like a touchscreen smartphone that will run its own apps. Glytec, a US based insulin management software company supplied software for the device, its Glucommander insulin-dosing program to help streamline the complex task of managing blood sugar levels during a patient's hospital stay.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Blood Glucose Meters Market Characteristics
3. Blood Glucose Meters Market Trends And Strategies
4. Blood Glucose Meters Market - Macro Economic Scenario
5. Blood Glucose Meters Market Size And Growth
…..
27. Blood Glucose Meters Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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