Dublin, March 25, 2024 (GLOBE NEWSWIRE) -- The "Blood Glucose Monitoring System Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
Blood Glucose Monitoring System Market Growth Trajectory
The global blood glucose monitoring system market is expected to exhibit robust growth, reaching a market size of $34.5 billion by 2030 with a compound annual growth rate (CAGR) of 7.5% from 2024 to 2030. This expansion is fueled by the rising incidence of diabetes, an aging population increasingly prone to the ailment, and a surge in awareness regarding new product advancements and the importance of diabetes prevention.
Segment Outlook and Forecasts
The market study forecasts that the homecare segment will retain its dominance in the forecast period, driven by an uptick in diabetic patient numbers and enhanced consciousness about consistent glucose monitoring. Geographically, North America is projected to secure its position as the largest regional market, attributable to factors such as prevalent obesity, costly healthcare, cutting-edge product developments, and technological enhancements.
Market Dynamics and Strategic Analysis
The blood glucose monitoring system market is benefitting from increased healthcare expenditures, strategic mergers and acquisitions, and progressive product innovations. Competing based on product quality, key market players are engaged in expanding their manufacturing facilities, and are actively investing in research and development to meet the rising market demand, thereby ensuring their competitive edge. With the heightened focus on healthcare and preventive medicine, the market is seeing emerging trends and shifting consumer demands that are influencing the direction of market growth. Industry players are responding by introducing new developments and technology improvements to satisfy the evolving needs of the healthcare sector.
Industry Impact and Competitive Landscape
The competitive intensity of the blood glucose monitoring system industry is at an all-time high, with organizations such as Thermo Fisher Scientific, Agilent Technologies, and Abbott leading the charge with strategic initiatives and innovations. These companies, along with others such as Promega, Bio-Rad Laboratories, and Ascensia Diabetes Care Holdings, are contributing to the dynamic landscape of the market. As the industry continues to evolve, stakeholders are keenly observing the development of new products, strategic initiatives pursued by key players, and the impact of mergers and acquisitions within the market. These elements cumulatively shape the competitive landscape and the future growth trajectory of the blood glucose monitoring system industry.
The global market for blood glucose monitoring systems is advancing towards a future characterized by innovation, strategic alliances, and a customer-centric approach, heralding a new era of diabetic care management. As this market surges forward, it remains a key area of focus for healthcare providers and patients alike, aiming to enhance the quality of life for those managing diabetes.
A selection of companies mentioned in this report includes
- Thermo Fisher Scientific
- Promega
- Agilent Technologies
- Bio-Rad Laboratories
- QIAGEN
- Merck
- B.D.
For more information about this report visit https://www.researchandmarkets.com/r/ovfbtu
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