Global Glucose Monitoring Devices Market To Expand At A 6.52% CAGR From 2016 To 2021 Due To Rising Prevalence Of Diabetes

MarketResearchReports.biz has announced the addition of a recent report, titled ‘Global Glucose Monitoring Devices Market: Trends, Opportunities And Forecasts (2016-2021) (By Devices Type: BGM - Monitors, Strips, Lancets And CGM - Monitors, Transmitters And Receivers, Sensors; By Region-North America, Latin America, Asia Pacific, Africa, Europe, Middle East; By Country- US, Canada, Brazil, Chile, South Africa, India, China, UK, Germany),’ to its online repository. According to the report, the global glucose monitoring devices market is predicted to expand at a 6.52% CAGR during the period from 2016 to 2021 owing to factors such as the growing focus on technology and rising occurrence of diabetes.

Over the past few years, there has been an increase in the number of diabetic patients due to the rising prevalence of sedentary lifestyles. The growth in per capita healthcare expenditure and the constantly rising disposable income have led to increasing healthcare spending, including the expenditure on diabetes.

The global glucose monitoring devices market is segmented on the basis of device type and region. Based on device type, the global glucose monitoring devices market is classified into continuous glucose monitoring devices and blood glucose monitoring devices. At present, the blood glucose monitoring devices segment holds the dominant position in the global glucose monitoring devices market. Factors such as affordability and ease of use are predicted to propel the blood glucose monitoring devices segment. However, in the years to come, the continuous glucose monitoring devices segment is expected to grow at a rapid pace due to technological advancements and innovations in these products.

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By region, the global glucose monitoring devices market is divided into Latin America, North America, the Middle East, Africa, Asia Pacific, and Europe. The global glucose monitoring devices market is widespread, with leading players covering various regions across the globe. Changing market trends, improved research and development procedures, and advancements in medical devices are some of the factors expected to contribute towards the growth of the global glucose monitoring devices in the next few years. Further, the global glucose monitoring devices market is expected to benefit from the increasing adaptability of new devices, especially in developed nations.

Hoffmann-La Roche AG, Abbott Laboratories, Bayer Healthcare AG, Arkray, Inc., Medtronic Inc., Novo Nordisk, DexCom Inc., Bionime Corp., Ypsomed AG, and LifeScan, a Johnson & Johnson Company, are some of the leading players operating in the global glucose monitoring devices market. At present, leading players are concentrating on introducing top-end devices to stay in the competition. The entry of new players is expected to increase the level of competition in the market in the years to come. However, mergers, acquisitions, and partnerships are expected to help leading players maintain their dominance in the global glucose monitoring devices market in the next few years.
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