Global Blood Glucose Monitoring Market Is Expected To Grow At A CAGR Of 7.1% During The Forecast Period 2017-2023.

blood glucose monitoring market is one of the rapidly growing markets across the world owing to huge growth in urbanization leading to the increased incidence of obesity, unhealthy diet, and physical inactiveness, which has increased the diabetic population around the globe. Regular monitoring of glucose level is important to avoid further complications. Furthermore, invention of new technology, increasing awareness, investment in research and development have boosted the blood glucose monitoring market globally. However, high cost associated with monitoring and diagnosis of disease may restrain the market growth.
The global blood glucose monitoring market is expected to grow at a CAGR of 7.1% during forecasted period 2017-2023.

Geographically, global blood glucose monitoring market is segmented into America, Europe, Asia Pacific and the Middle East & Africa.

The Americas commands the largest blood glucose monitoring market due to the presence of a well-developed healthcare sector and large patient population. Americas dominate the global blood glucose monitoring market owing to high healthcare spending, increasing population, increased research & development activities and the concentration of major companies have fuelled the growth of the market in this region.

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Europe holds the second position in the global blood glucose monitoring market owing to the government support for research & development and availability of funds for research. According to WHO, Globally, around 3.4 million people died annually owing to high blood glucose and almost 80% of these deaths occur in lower and middle income countries, and this statistics is coupled with the fact that almost 50% were people aged under 70 years.

Asia Pacific is the fastest growing blood glucose monitoring market owing to the presence of rapidly developing healthcare technology, huge patient population, high healthcare expenditure, and increase in prevalence of nerve injuries or disorder related to nerve. Moreover, increasing demand for new treatment methods in countries like India and China are likely to emerge as the fastest growing market across the globe.

On the other hand, in the Middle East and Africa has the lowest market for blood glucose monitoring due to lack of technical knowledge and poor medical facilities.

Segmentation

Global blood glucose monitoring devices market is segmented on the basis of product type, application, and end user. On the basis of the product type, it is segmented into invasive glucose monitoring devices, continuous glucose monitoring devices (CGM), flash glucose monitoring devices, and others. On the basis of the application, it is segmented into type 1 diabetes, type 2 diabetes, and others. On the basis of the end user, it is segmented into diagnostic centers, hospitals, clinics, research centers, and home care diagnostics.

Key Players

Some of key the players in the market are Abbott Laboratories (U.S.), Arkay, Inc. (U.S.), Bayer Healthcare AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Goldsite Diagnostics Inc., GlySure Ltd (U.K), Sphere Medical Holding plc. (U.K), Dexcom, Inc. (U.S.), and LifeScan, Inc. (U.S.).

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Blood glucose monitoring is the process of testing the diabetes level in the blood. It helps to recognize the glucose level of blood within the specified target range. The blood glucose monitoring devices provide useful insight to manage diabetes. It helps to track the progress of treatment goal as well as observe the effect of meditation on blood sugar level and understand how ailment effect the glucose level in blood.

Various blood glucose monitoring devices are present in the market, which is known as blood glucose meter. These devices are designed to apply to the different type of diabetes such as Type 1, Type 2, and gestational diabetes. The blood glucose monitoring devices market growth is majorly attributed to the increasing prevalence of diabetes, developing technology for monitoring and diagnosis of diabetes, early detection of diabetes, and increasing demand for continuous glucose monitoring devices.

According to the Diabetes prevalence figures suggested by the Australian Bureau of Statistics, more than 5.1% of the Australian population was diagnosed with diabetes in 2016. However, as per the Centers for Disease Control and Prevention (CDC), in 2015, around 30.3 million of Americans were suffering from diabetes that is 9.4% of the total U.S. population. According to IDF, in 2017, total 8.8% of adults aged 20-79 years have diabetes.

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