Self Monitoring Blood Glucose (SMBG) Devices Market - Forecasts From 2018 to 2023

The global Self-Monitoring Blood Glucose (SMBG) Devices market is expected to reach US$13.412 billion by 2023 from US$10.125 billion in 2017 growing at a CAGR of 4.80%. Self-Blood Glucose Monitoring refers to the approach whereby people themselves their glycemic levels using a glycemic reader (glucose meter). Based on the glycemic levels, they can adjust or check the effect of their treatment (diet, exercise, insulin, antidiabetics and stress management) and also adjust the medication and diet as needed. These devices are easy to use and enable people to monitor their blood glucose level irrespective of the location and time. These devices are used for effective diabetes diagnosis and management. The Self-Monitoring Blood Glucose (SMBG) Devices market is expected to show robust growth during the forecast period owing to the rising prevalence of diabetes across the globe. Ease of use associated with the Self-Monitoring Blood Glucose (SMBG) Devices will also boost the market growth during the given forecast period. However, market growth of these devices may be hampered by lack of favourable reimbursement policies. Stringent regulatory environment will also retrain the growth of Self-Monitoring Blood Glucose (SMBG) devices during the given time-frame.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical region. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global Healthcare Self-Monitoring Blood Glucose (SMBG) market value chain. Last step involves complete market engineering which includes analysing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the global Self-Monitoring Blood Glucose (SMBG) market.

Major industry players profiled as part of the report are Ascensia Diabetes Care Holdings AG, Sanofi and Ypsomed AG among others.

Segmentation

By Types

Blood Glucose Meters
Testing Strips
Lancets & Lancing Devices

By Indication

Type I Diabetes
Type II Diabetes
Gestational Diabetes

By End Users

Hospitals and Clinics
Ambulatory Care Settings
Diagnostic Centres
Home Care Settings

By Geography

North America
United States
Canada
Others

South America
Brazil
Argentina
Others

Europe
United Kingdom
Germany
France
Others

Middle East and Africa
Saudi Arabia
UAE
Israel
Others

Asia Pacific
China
India
Australia
South Korea
Others