Covina, CA, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Rising incidence of diabetes, coupled with increasing geriatric population prone to diabetes, growing awareness about diabetes preventive care, new product launches, and supportive government initiatives also helping to boost market development.
The global blood glucose monitoring market is anticipated to register a CAGR of 9.5%.
The report "Global Blood Glucose Monitoring Market, By Type (Self-Monitoring Blood Glucose and Continuous Blood Glucose Monitoring), By Component (Glucometer Devices, Test Strips, Lancets, Sensors, and Receivers), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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Key Highlights:
- In August 2016, Roche launched the Accu-Chek Guide blood glucose monitoring system. The device is designed to make daily glucose monitoring easy.
- In October 2018, Platinum Equity acquired Lifescan from Johnson & Johnson diabetes care business, with an aim to increase its product offering.
- In August 2018, Dexcom acquired TypeZero Technologies, which was an extension of long partnership between both companies with an aim to improve its product offering through TypeZero Technologies automated insulin delivery system.
Analyst View:
Increasing prevalence of diabetes
Rising incidence of diabetes, coupled with increasing geriatric population prone to diabetes is the key factors to drive the market growth. According to the International Diabetes Federation, approximately 424 million people were living with diabetes in 2017 and this number is expected to reach 629 million by 2045. Increasing geriatric population is also propelling the market. According to the World Health Organization (WHO), the global aging population will rise from 12% in 2015 to 22% by 2050. This translates into significant development potential.
Technological advancements
The market has significantly benefited from continuous technological advancements and early detection of hypo and hyperglycemic diabetes. Rapidly changing lifestyles, such as smoking and consumption of alcohol and unhealthy foods, are contributing to the rise in the number of diabetes patients worldwide. Obesity is also one of the major factors contributing to diabetes. According to WHO, over 650 million people were obese in 2016 and this number is expected to grow further during the forecast period.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Blood Glucose Monitoring Market”, By Type (Self-Monitoring Blood Glucose, and Continuous Blood Glucose Monitoring), By Component (Glucometer Devices, Test Strips, Lancets, Sensors, and Receivers), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global blood glucose monitoring market is anticipated to register a CAGR of 9.5% during the forecasted period. The market report has been segmented on the basis of type, component and region.
- Depending upon type, the self-monitoring blood glucose segment is projected to grow at highest CAGR over the forecast period owing to its ease of use and low cost.
- Depending upon component, the test strips and lancets segment is projected to grow at highest CAGR over the forecast period.
- By region, North America has been leading the global market owing to its well-established healthcare sector. Increasing prevalence of obesity and high cost of treatment is also expected to drive the region, along with technological advancements and new product launches.
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Competitive Landscape:
The prominent player operating in the global blood glucose monitoring market includes Abbott Laboratories, Arkay, Inc., Bayer Healthcare AG, F. Hoffmann-La Roche Ltd, Goldsite Diagnostics Inc., GlySure Ltd, Sphere Medical Holding plc., Dexcom, Inc., and LifeScan, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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