Easy Adoption of Continuous Glucose Monitoring as Compared to Self-monitoring Devices
There have been continuous advances in the field of glucose monitoring over the last four decades, which have led to the development of highly evolved blood glucose meters, non-invasive glucose monitoring (NGM) devices, and continuous glucose monitoring systems (CGMS). CGMS have led to tremendous improvements in the diabetic management, as shown by the significant lowering of glycated hemoglobin (HbA1c) in adults with Type I diabetes. Most of the CGMS are minimally-invasive, however, the more recent ones are based on NGM techniques. CGMS detects the abnormal patterns of glycaemia many folds better than the conventional technology in pediatric Type 1 diabetes, which further enables a significant decrease in HbA1c.
Additionally, rising occurrence of Type I and Type II diabetes among all age groups, technological innovations, and growing demand for remote patient glucose monitoring devices are some other factors contributing to the market growth.
Less Attractive Reimbursement for Regular Monitoring
A laboratory is a crucial part of glucose monitoring. Laboratories have shifted from fee-for-service (FFS) to value-based reimbursement systems. Planned cuts in reimbursement rates are being made to the Centers for Medicare & Medicaid Services (CMS) that are responsible for healthcare insurance programs. Tests are reimbursed according to the Hospital Outpatient Prospective Payment System (OPPS), and are billed directly by the hospitals rather than the labs. Many labs are already affected by the transition in healthcare from FFS payments to value-based payments. The cuts in reimbursement rates have led to uncertainties in lab investments.
Additionally, high cost associated with the frequent blood glucose tests for economically strained countries and strict regulation of glucose monitoring devices by regulatory organizations, like FDA, are also restraining the glucose monitoring devices market growth.
North America to Dominate the Market
The global glucose monitoring devices market is segmented on the basis of glucose monitoring system, application, and geography. By geography, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to dominate the global market, due to the growing demand for a prompt and accurate diagnosis, treatment, and the presence of technically advanced healthcare infrastructure.
Major Players: ABBOTT LABORATORIES, LIFESCAN INC., F. HOFFMANN-LA ROCHE AG, BAYER HEALTHCARE AG, MEDTRONIC INC., DEXCOM INC., ARKAY INC., INSULET CORPORATION, NOVO NORDISK A/S, and TERUMO CORPORATION, among others.
Reasons to Purchase the Report
- Market analysis for the global glucose monitoring devices market, with region-specific assessments and competition analysis on the global and regional scale
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
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Table of Contents
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6.1.1 Rise in Diabetes Type I And Type II in all Age Groups
6.1.2 Easy Adoption of Continuous Glucose Monitoring as Compared to Self-monitoring Devices
6.1.3 Technological Innovations
6.1.4 Growing Demand for Remote Patient Glucose Monitoring Devices
6.2 Market Restraints
6.2.1 Cost associated with Frequent Blood Glucose Tests for Economically Strained Countries
6.2.2 Less Attractive Reimbursement for Regular Monitoring
6.2.3 Strict Regulation of Glucose Monitoring Devices
6.4 Key Challenges
7.1.1 Self-monitoring Glucose Monitoring Devices
22.214.171.124 Blood Glucose Meter
126.96.36.199 Blood Glucose Testing Strips
7.1.2 Continuous Glucose Monitoring Device
7.2 By Application
7.2.3 Home Settings
7.3 By Geography
7.3.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
7.3.4 Middle East & Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
7.3.5 South America
184.108.40.206 Rest of South America
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9.2 Arkay Inc.
9.3 Bayer Healthcare AG
9.4 Dexcom Inc.
9.5 F. Hoffmann-La Roche AG
9.6 Insulet Corporation
9.7 Lifescan Inc.
9.8 Medtronic Inc.
9.9 Novo Nordisk A/S
9.10 Terumo Corporation
A selection of companies mentioned in this report includes:
- Abbott Laboratories
- Lifescan Inc.
- F. Hoffmann-La Roche AG
- Bayer Healthcare AG
- Medtronic Inc.
- Dexcom Inc.
- Arkay Inc.
- Insulet Corporation
- Novo Nordisk A/S
- Terumo Corporation