Self-Monitoring Blood Glucose Devices Market Overview:
Diabetes is a clinical condition where the glucose level in the blood increases due to inability of the pancreas to produce insulin. Glucose monitoring is one of the essential steps toward diabetes management. Monitoring of blood glucose helps patients decide the amount of food intake, dosage of insulin, as well as type of physical exercise required for the day. Self-monitoring blood glucose (SMBG) is modern diabetes management procedure, which involves the use of blood glucose meters to check glucose levels and provide an accurate measure of capillary glucose concentrations. SMBG technology uses test strips, lancets, and blood glucose meters to achieve better long-term glycemic control.
The global self-monitoring blood glucose devices market was valued at $7,768 million in 2017 and is projected to reach $10,828 million by 2025 at a CAGR of 4.2% from 2018 to 2025. Factors such as rise in prevalence of diabetes caused by rapid urbanization and sedentary lifestyle significantly drive the growth of the global self-monitoring blood glucose devices market. Moreover, technological advancements in the field of diabetes devices, rise in obese population, consumption of junk food, and surge in need for faster & safer diagnosis as well as treatment of diabetes further boosts the market growth. However, blood glucose monitoring devices provide the glucose level reading as a range and do not measure the exact level of glucose in blood. Moreover, high cost of blood glucose measuring devices hinders the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, and rise in awareness about diabetes monitoring devices are expected to offer lucrative opportunities to the market players.
The global self-monitoring blood glucose devices market is segmented based on product, application, end user, and region. Depending on product, the market is divided into test strips, lancets, and blood glucose meters. By application, the self-monitoring blood glucose devices market is categorized into type 1 diabetes, type 2 diabetes, and gestational diabetes. Based on end user, the market is classified into hospitals home settings, and diagnostic centers. Based on region, the self-monitoring blood glucose devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Self-Monitoring Blood Glucose Devices Market:
Self-Monitoring Blood Glucose Devices Key market segments:
By Product
By End User
By Region
LIST OF KEY PLAYERS PROFILED IN THE REPORT
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
Diabetes is a clinical condition where the glucose level in the blood increases due to inability of the pancreas to produce insulin. Glucose monitoring is one of the essential steps toward diabetes management. Monitoring of blood glucose helps patients decide the amount of food intake, dosage of insulin, as well as type of physical exercise required for the day. Self-monitoring blood glucose (SMBG) is modern diabetes management procedure, which involves the use of blood glucose meters to check glucose levels and provide an accurate measure of capillary glucose concentrations. SMBG technology uses test strips, lancets, and blood glucose meters to achieve better long-term glycemic control.
The global self-monitoring blood glucose devices market was valued at $7,768 million in 2017 and is projected to reach $10,828 million by 2025 at a CAGR of 4.2% from 2018 to 2025. Factors such as rise in prevalence of diabetes caused by rapid urbanization and sedentary lifestyle significantly drive the growth of the global self-monitoring blood glucose devices market. Moreover, technological advancements in the field of diabetes devices, rise in obese population, consumption of junk food, and surge in need for faster & safer diagnosis as well as treatment of diabetes further boosts the market growth. However, blood glucose monitoring devices provide the glucose level reading as a range and do not measure the exact level of glucose in blood. Moreover, high cost of blood glucose measuring devices hinders the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, and rise in awareness about diabetes monitoring devices are expected to offer lucrative opportunities to the market players.
The global self-monitoring blood glucose devices market is segmented based on product, application, end user, and region. Depending on product, the market is divided into test strips, lancets, and blood glucose meters. By application, the self-monitoring blood glucose devices market is categorized into type 1 diabetes, type 2 diabetes, and gestational diabetes. Based on end user, the market is classified into hospitals home settings, and diagnostic centers. Based on region, the self-monitoring blood glucose devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Self-Monitoring Blood Glucose Devices Market:
- The study provides an in-depth analysis of the global self-monitoring blood glucose devices market along with the current trends and future estimations from 2018 to 2025 to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on the global & regional scale are provided.
- Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Self-Monitoring Blood Glucose Devices Key market segments:
By Product
- Test Strips
- Lancets
- Blood Glucose Meters
- By Application
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
By End User
- Hospitals
- Home Settings
- Diagnostic Centers
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Abbott Laboratories
- Becton, Dickinson and Company
- B. Braun Melsungen AG
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Medtronic plc
- PHC Holdings Corporation
- Sanofi
- Terumo Corporation
- Trividia Health, Inc.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
- ARKRAY USA
- Nova Biomedical
- Bionime Corporation
- Sinocare, Inc.
- All Medicus Co., Ltd.
Frequently Asked Questions about the Global Self-Monitoring Blood Glucose Devices Market
What is the estimated value of the Global Self-Monitoring Blood Glucose Devices Market?
What is the growth rate of the Global Self-Monitoring Blood Glucose Devices Market?
What is the forecasted size of the Global Self-Monitoring Blood Glucose Devices Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | September 2018 |
| Forecast Period | 2017 - 2025 |
| Estimated Market Value ( USD | $ 7768 million |
| Forecasted Market Value ( USD | $ 10828 million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SELF-MONITORING BLOOD GLUCOSE DEVICES MARKET, BY PRODUCT
CHAPTER 5: SELF-MONITORING BLOOD GLUCOSE DEVICES MARKET, BY APPLICATION
CHAPTER 6: SELF-MONITORING BLOOD GLUCOSE DEVICES MARKET, BY END USER
CHAPTER 7: SELF-MONITORING BLOOD GLUCOSE DEVICES MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
Executive Summary
According to a new report titled, Self-Monitoring Blood Glucose Devices Market, by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025, the market was valued at $7,768 million in 2017, and is projected to reach $10,828 million by 2025 at a CAGR of 4.2% from 2018 to 2025.Diabetes is a clinical condition where the glucose level in blood increases due to inefficiency of pancreas to produce insulin. Diabetes management is used to control the blood sugar levels, which can be monitored by using blood glucose meters. Self-monitoring blood glucose devices are used to track and monitor blood glucose levels in diabetic patients.
The self-monitoring blood glucose devices market is anticipated to exhibit significant growth in the near future, owing to factors such as rise in prevalence of diabetes, surge in obese population who are prone to diabetes, technological advancements in diabetes devices, and surge in need for faster & safer diagnosis as well as treatment of diabetes. However, blood glucose monitoring devices do not measure the exact level of glucose in blood, whereas provide the readings in the form of a particular range. In addition, adverse effects associated with some of the diabetes care devices hinder the market growth. Rise in awareness about diabetes monitoring devices and untapped market opportunities in the developing regions are expected to provide numerous opportunities for the market growth.
By product, the test strips segment accounted for the maximum share of the global self-monitoring blood glucose devices market in 2017 and is projected to exhibit prominent growth rate, owing to increase in demand for test strips in various diabetes monitoring devices.
In 2017, the type 2 diabetes application segment occupied almost three-fourths share of the market, and is anticipated to maintain its dominant position through 2025, due to rise in prevalence of type 2 diabetes across the world.
In 2017, based on end user, the hospitals segment occupied more than two-fifth share of the market, highest amongst all other end users. Whereas, the home settings segment is anticipated to grow at the fastest rate during the forecast period.
Key findings of the Self-Monitoring Blood Glucose Devices Market:
Blood glucose meters accounted for more than one-eighth of the share of the self-monitoring blood glucose devices market in 2017.
The type 1 diabetes segment is anticipated to grow with the moderate CAGR throughout the forecast period.
Europe accounted for more than one-fourth of the global self-monitoring blood glucose devices market in 2017.
The LAMEA region is anticipated to grow at the high rate in the self-monitoring blood glucose devices market during the study period.
North America accounted for more than two-fifths share of the global market in 2017 and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of diabetes, growth in geriatric population, and adoption of sedentary lifestyle of people that leads to diabetes. In addition, high adoption rate of technologically advanced devices and presence of sophisticated healthcare infrastructure are expected to offer new growth opportunities to the market players in future.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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