"The best-in-class Glucose Monitoring Devices Market research report provides comprehensive insights into the Glucose Monitoring Devices Market industry based on business intelligence. Businesses can leverage this market report to gain superior expertise on the best market opportunities in their relevant markets. The report assesses market potential for each geographical region, considering growth rates, macroeconomic parameters, consumer buying patterns, product preferences, and market demand and supply scenarios. The reliable Glucose Monitoring Devices Market business report estimates CAGR values for the Glucose Monitoring Devices Market industry, indicating its rise or fall for the forecast period of 2021 to 2028.
The Global Glucose Monitoring Devices Market report is crafted using integrated approaches and the latest technology, yielding optimal results. This market report highlights categorization by companies, region, type, and end-use industry. The report meticulously studies and analyzes facts and figures about market segmentation, presenting them in the form of graphs for better end-user understanding. Businesses can utilize this information and data to make informed decisions about business strategies and achieve maximum return on investment (ROI). The Glucose Monitoring Devices Market analysis document provides insights into CAGR value fluctuations with respect to the rise or fall for the defined forecast period.
Data Bridge Market Research analyses that the global glucose monitoring devices market, which was USD 12.7 billion in 2022, would rise to USD 24.40 billion by 2030 and is expected to undergo a CAGR of 8.5% during the forecast period from 2023 to 2030.
Explore Further Details about This Research Glucose Monitoring Devices Market Report https://www.databridgemarketresearch.com/reports/global-glucose-monitoring-devices-market
Glucose Monitoring Devices Market Scope and Segmentation
REPORT METRIC | DETAILS |
Forecast Period | 2023 to 2030 |
Base Year | 2022 |
Historic Years | 2021 (Customizable to 2015 - 2020) |
Quantitative Units | Revenue in USD Billion, Volumes in Units, Pricing in USD |
Segments Covered | Product Type (Self-Monitoring Blood Glucose Devices, Continuous Glucose Monitoring Devices), Distribution Channel (Retail, Online), End User (Hospital, Clinics, Diagnostic Centers, Home Healthcare, Others) |
Countries Covered | U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America |
Market Players Covered | DiaMonTech AG (Germany), Abbott (U.S.), GlySens Incorporated (U.S.)., Novo Nordisk A/S (Denmark), Nemaura (U.S.), PHC Holdings Corporation (Japan), TaiDoc Technology Corporation (Taiwan), AgaMatrix (U.S.), Dexcom, Inc.(U.S.)., ACON Laboratories, Inc.(U.S.)., Ascensia Diabetes Care Holdings AG (Switzerland), Bayer AG (Germany), and F. Hoffmann-La Roche Ltd (Switzerland), Insulet Corporation (U.S.), Ypsomed AG (Switzerland), GlySens Incorporated (U.S.) |
Market Opportunities |
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Market Definition
Glucose monitoring devices are used to detect the sugar level in the blood and are of numerous types, such as glucose meters, testing strips, and lancets. These devices provide the facility of self-testing by using a single glucose meter and different strips. These devices allow patients and clinicians to identify high or low blood glucose levels. It also allows for therapy modifications and protecting patients by promptly confirming acute hypoglycemia or hyperglycemia and offering patients greater self-care.
Global Glucose Monitoring Devices Market Dynamics
Drivers
- Increasing Prevalence of Diabetes
The growing prevalence of diabetes is likely to contribute to this market's growth during the forecast period 2023-2030. According to the International Diabetes Federation Report for 2017, about 66.0 million people worldwide had diabetes, which is expected to rise to 81.0 million by 2045. In North America, it has been observed that there are more than 29 million diabetic patients, and this number is expected to increase to 34 million by 2027. This increasing prevalence leads to the higher adoption of glucose monitoring devices.
- Growth in Obesity Rates
Obesity is one of the leading causes of diabetes in the general population. As per the records of WHO, about 50% of the global population was overweight in 2014, with more than 20% of the population obese. Obesity is more incident in men. Several risk factors, such as the increasing occurrence of obesity, are directly related to the increasing incidence of diabetes. Therefore, the number of glucose monitoring devices is also increasing. Thus, this factor boosts market growth.
Opportunities
- Increasing Strategic Developments by Market Players
Increasing strategic developments, such as collaborations, lead to market growth. For instance, Roche collaborated with Eli Lilly and Company to work towards enhancing the management of insulin pen therapy in 2021. With this collaboration, Roche followed its aim to create an open ecosystem that includes its solutions, partner devices, and services across the continuum of care in diabetes. Thus, this factor boosts market growth.
- Growing Rate of Product Launches
There is a higher rate of product launches that leads to market growth. For instance, Roche announced the launch of the new Accu-Chek Instant system in 2021. This is a new "connected" blood glucose monitoring (BGM) system, which supports and allows Roche's approach of integrated personalized diabetes management (iPDM). It also features Bluetooth-enabled connectivity to the mySugr app, enabling the wireless transfer of blood glucose results to the mySugr app. Thus, this factor boosts market growth.
Table of Contents:
- Glucose Monitoring Devices Market Overview
- Economic Impact on Industry
- Competition by Manufacturers
- Production, Revenue (Value) by Region
- Supply (Production), Consumption, Export, Import by Regions
- Production, Revenue (Value), Price Trend by Type
- Market by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Glucose Monitoring Devices Market Strategy Analysis, Distributors/Traders
- Glucose Monitoring Devices Market Effect Factors Analysis
- Glucose Monitoring Devices Market Forecast
- Appendix
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