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Glucometer Market: Global Industry Growth Factors, Trends, Demand Status And Forecast To 2033
Glucometer Market Size
As per the report, 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 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%.
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Rising Diabetes Prevalence Drives Growth In The Glucometer Market
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.
Product Innovations Drive Advancements In The Glucometer Market
Product innovations are a key trend gaining popularity in the glucometer market. Major companies in the market are introducing various products to sustain their position in the market. For instance, in January 2022, Roche, a Switzerland-based healthcare company introduced a brand-new point-of-care blood glucose monitor for hospital staff, along with a companion device resembling a touchscreen smartphone that would run its apps. The unique features of this portable Cobas pulse device have a touchscreen, camera, and automated glucose test strip reader. It also has a hardened body that can be disinfected and is used for logging other diagnostic data.
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
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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
Contents of the report:
1. Executive Summary
2. Glucometer Market Report Structure
3. Glucometer Market Trends And Strategies
4. Glucometer Market - Macro Economic Scenario
5. Glucometer Market Size And Growth
…..
27. Glucometer Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Market Size And Growth Forecast:
The glucometer market size has grown rapidly in recent years. It will grow…
