As per the International Diabetes Foundation, the number of adults suffering from diabetes was around 425 million and is expected to reach 630 million by 2045. The prevalence of diabetes is primarily increasing owing to the rapid adoption of sedentary lifestyle and unhealthy food habits. This further shows that the demand for blood glucose monitoring systems will increase, thereby driving the global blood glucose monitoring systems market. As per the report, the global market was valued at USD 10.09 Billion in the year 2018 and is projected to be worth USD 17.06 Billion by 2026. In addition to this, the global market is expected to exhibit a CAGR of 6.7% during the forecast period.
Highlights of the Report:
- In-depth analysis of various insights, namely, Blood Glucose Monitoring Systems Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Blood Glucose Monitoring Systems Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Blood Glucose Monitoring Systems Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Hoffmann-La Roche Ltd.
- Ascensia Diabetes Care Holdings AG
- Dexcom, Inc.
- Braun Melsungen AG
- Lifescan Inc.
- Terumo Medical Corporation
- DiamonTech GmbH
India and China to Account for 44% of the Global Diabetic Population
The prevalence of diabetes is increasing especially in countries such as China and India. Factors such as rapid growth in urbanization and lifestyle changes are responsible for this prevalence. Moreover, China and India hold 44% of the overall diabetic population worldwide.
High cost associated with diabetes monitoring systems is expected to hamper the growth of the market especially in developing economies. This is mainly because these countries lack a good and favorable reimbursement policy.
In countries such as the U.S., the average annual cost of continuous glucose monitoring systems is estimated to be between USD 2,500 and USD 2,800. On the other hand, the annual cost of test strips, lancets meters required for self-monitoring blood glucose (SMBG) devices is likely to fall between USD 5,000 to 5,200.
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North America to Emerge Dominant Owing to Increasing Adoption of Technologically Advanced Systems
Among regions, North America is expected to maintain its dominance through the forecast years. This is ascribable to the rising awareness and expenditure about diabetes management. The rising adoption of technologically-advanced devices is another factor contributing to the growth. Some of the most recent blood sugar monitoring devices are more user-friendly, minimally-invasive, more convenient, and easy to handle.
Following North America, the market in Asia Pacific is expected to rise at a higher CAGR in the forecast years owing to the rising prevalence of diabetes. The International Diabetes Foundation found that around 7.1% of Indians suffered from diabetes in the year 2018. People in countries such as Japan, China, and Australia are continuously monitoring their blood glucose levels to maintain diabetes management.
Detailed Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1 Prevalence of Diabetes, By Key Countries/ Key Regions, 2018
4.2 Pricing Analysis, By Key Regions/ Key Market Players
4.3 New Product Launches, By Key Market Players
4.4 Detailed Product Mapping, By Key Market Players
4.4 Recent Industry Developments Such As Mergers & Acquisitions
- Global Blood Glucose Monitoring Systems Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Device
5.2.1 Continuous Glucose Monitoring Systems (CGM)
5.2.2 Self-Monitoring Blood Glucose (SMBG) Systems
5.3. Market Analysis, Insights and Forecast – By Type
5.4 Market Analysis, Insights and Forecast – By Modality
5.4.2 Non- Wearable
5.5. Market Analysis, Insights and Forecast – By Distribution Channel
5.5.1 Institutional Sales
5.5.2 Retail Sales
5.6. Market Analysis, Insights and Forecast – By Region
5.6.1 North America
5.6.3 Asia Pacific
5.6.4 Latin America
5.6.5 Middle East & Africa
- North America Blood Glucose Monitoring Systems Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Device
6.2.1 Continuous Glucose Monitoring Systems (CGM)
6.2.2 Self-Monitoring Blood Glucose (SMBG) Systems
6.3. Market Analysis, Insights and Forecast – By Type
6.4. Market Analysis, Insights and Forecast – By Modality
6.4.2 Non- Wearable
6.5. Market Analysis, Insights and Forecast – By Distribution Channel
6.5.1 Institutional Sales
6.5.2 Retail Sales
6.6. Market Analysis, Insights and Forecast – By Country
- Europe Blood Glucose Monitoring Systems Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Market Analysis – By Device
7.2.1 Continuous Glucose Monitoring Systems (CGM)
7.2.2 Self-Monitoring Blood Glucose (SMBG) Systems
7.3. Market Analysis, Insights and Forecast – By Type
7.4. Market Analysis, Insights and Forecast – By Modality
7.4.2 Non- Wearable
7.5. Market Analysis, Insights and Forecast – By Distribution Channel
7.5.1 Institutional Sales
7.5.2 Retail Sales
7.6. Market Analysis, Insights and Forecast – By Country/ Sub-region
7.6.7 Rest of Europe
- Asia Pacific Blood Glucose Monitoring Systems Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Device
8.2.1 Continuous Glucose Monitoring Systems (CGM)
8.2.2 Self-Monitoring Blood Glucose (SMBG) Systems
8.3. Market Analysis, Insights and Forecast – By Type
8.4. Market Analysis, Insights and Forecast – By Modality
8.4.2 Non- Wearable
8.5. Market Analysis, Insights and Forecast – By Distribution Channel
8.5.1 Institutional Sales
8.5.2 Retail Sales
8.6. Market Analysis, Insights and Forecast – By Country/ Sub-region
8.6.5 Southeast Asia
8.6.6 Rest of Asia Pacific
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Reasons to Purchase this Report:
- Comprehensive analysis of the Blood Glucose Monitoring Systems Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Blood Glucose Monitoring Systems Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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