Glucometer Global Market Report 2023: Rising Prevalence of Diabetes Fuels $13 Billion Industry

Dublin, May 19, 2023 (GLOBE NEWSWIRE) -- The "Glucometer Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

The global glucometer market is expected to grow from $11.98 billion in 2022 to $13.12 billion in 2023 at a compound annual growth rate (CAGR) of 9.5%. The glucometer market is expected to reach $18.65 billion in 2027 at a CAGR of 9.2%.

The increase in the prevalence of diabetes is driving the demand for the glucometer market going forward. Diabetes is a long-lasting metabolic condition. It is characterized by high blood glucose (also known as blood sugar) levels, which over time cause significant harm to the heart, blood vessels, eyes, kidneys, and nerves. People who are suffering from diabetes use a glucometer to monitor their blood glucose levels. Therefore, with an increase in diabetes among people, the demand for glucometers is also increasing.

For instance, in December 2021, according to the statistics published by International Diabetes Federation, a Belgium-based, non-profit diabetes association, 537 million adults (20-79 years) recorded living with diabetes, and 6.7 million people died of diabetes in 2021. However, by 2030, it is anticipated that there will be 643 million people worldwide will have diabetes. Therefore, the increase in the prevalence of diabetes drives the glucometer market.

Product innovations are a key trend gaining popularity in the glucometer market. Major companies in the market are introducing various products to sustain their position in the market. For instance, in January 2022, Roche, a Switzerland-based healthcare company introduced a brand-new point-of-care blood glucose monitor for hospital staff, along with a companion device resembling a touchscreen smartphone that would run its apps. The unique features of this portable Cobas pulse device have a touchscreen, camera, and automated glucose test strip reader. It also has a hardened body that can be disinfected and is used for logging other diagnostic data.

In February 2022, Sorrento, a San Diego-based healthcare company acquired Virex Health for an undisclosed amount. With this acquisition, The patented Virex technology employs enzymatic and electrochemical amplification to detect picogram levels biological analytes, such as SARS-CoV-2 and its variations, Flu A/B, as well as indicators for liver cancer, inflammation, and hormone monitoring. Virex Health is a US-based company that develops glucometers.

North America was the largest region in the glucometer market in 2022. The regions covered in the glucometer report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the glucometer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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Description:

Where is the largest and fastest growing market for glucometer? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The glucometer market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:
• The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
• The impact of higher inflation in many countries and the resulting spike in interest rates.
• The continued but declining impact of COVID-19 on supply chains and consumption patterns.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope
Markets Covered:

1) By Product: Continuous Glucose Monitoring Devices; Self-Monitoring Blood Glucose System
2) By Technique: Invasive; Non-Invasive
3) By Distribution Channel: Institutional Sales; Hospitals; Clinics; Retail Sales; Hospital Pharmacies; Retail Pharmacies; Online Pharmacies

Key Attributes:

Key Topics Covered:

1. Executive Summary

2. Glucometer Market Characteristics

3. Glucometer Market Trends And Strategies

4. Glucometer Market - Macro Economic Scenario

5. Glucometer Market Size And Growth

6. Glucometer Market Segmentation

7. Glucometer Market Regional And Country Analysis
7.1. Global Glucometer Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Glucometer Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

A selection of companies mentioned in this report includes

• Abbott Laboratories
• Medtronic plc.
• F. Hoffmann-La Roche Ltd.
• Bayer AG
• Dexcom Inc.
• B Braun Melsungen AG
• Johnson & Johnson Services Inc.
• Omron Corporation
• Acon Laboratories Inc.
• Arkray Inc.
• NOVA
• LifeScanInc.
• i-SENS Inc.
• Teromo Corporation
• Hainice Medical Inc.
• Glucostratus Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/9xc5mk

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Attachment

• Global Glucometer Market