Recent advances in technology have revolutionized how patients and medical professionals understand and manage diabetes leading to emergence of devices and solutions for self-monitoring of blood glucose. This is an important component in modern therapy for diabetes and is recommended by different medical professionals and organizations including American Diabetes Association. Self-monitoring of blood glucose assists diabetic patients to monitor their blood sugar levels at multiple instances without having to visit a medical facility and prevents the incidence of hypoglycemia (low blood sugar level condition). Market players are continuously innovating self-monitoring blood glucose devices and solutions for improving user convenience. For instance, Roche Diabetes Care launched a new self-monitoring blood glucose meter in January 2020 which has an intuitive user interface and improved testing experience. This device is powered by wireless connectivity which enables it to share the data with user through a mobile app. Thus, the emergence and on-going innovation in self-monitoring devices is driving the growth of global blood glucose meter market.
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Diabetes patients are highly vulnerable to becoming severely ill by coronavirus infection which has increased the demand of devices and solutions for effective diabetes management. For instance, Snapdeal, an Indian e-commerce company, stated in a press release of August 2020 that it has witnessed an upsurge in demand for blood glucose monitoring devices. Also, medical researchers from CoviDIAB Project of King’s College London and Monash University have found that COVID-19 leads to on-set of diabetes in some patients. This is anticipated to further increase the demand in global blood glucose meter market.
The detailed research study provides qualitative and quantitative analysis of blood glucose meter market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Key Findings of the Report:
- The global blood glucose meter market was valued at US$ 10726.36 Mn in 2018 and is anticipated to witness a compound annual growth rate of 7.11% over the forecast period due to the growing number of diabetes patients.
- Based on the type, wearable glucose monitoring devices are anticipated to witness high growth in global blood glucose meter market over forecast years. The continuous glucose monitoring capabilities of these devices provide regular updates to the user and prevents adverse outcomes resulting from steep fall or rise in blood sugar levels.
- The need for regular monitoring of blood glucose for determining the dosage of insulin and tracking fluctuations in sugar levels is driving the share of self-usage/homecare application across global blood glucose meter market.
- North America accounted for the highest market share in global blood glucose meter market in 2018. Asia Pacific is expected to register the highest compound annual growth rate over the period of next eight years. The rising awareness about diabetes management amidst various government programs, is anticipated to drive the growth.
- Some of the players operating in the blood glucose meter market are Abbott, Ascensia Diabetes Care Holdings AG, B. Braun Melsungen AG, Dexcom, Inc., DiaMonTech AG, Dottli, Dr Trust., Dr.Morepen, Gluco-wise, Health2Sync, Informed Data Systems Inc. and One Drop, Integrity Applications, La société PKvitality, LifeScan IP Holdings, LLC, Medtronic, Medtronic Pvt. Ltd, Roche Diabetes Care, Sanofi-Deutschland GmbH, Senseonics, Incorporated, SOCIALDIABETES, S.L. and Terumo Europe NV amongst others.
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Global Blood Glucose Meter Market:
- By Product
- Self-Monitoring Blood Glucose (SMBG) Systems
- Continuous Glucose Monitoring Devices
- Digital Solutions
- By Type
- Wearable
- Handheld
- By Sales Channel
- Online
- Offline
- By Application
- Hospitals
- Clinical Laboratories
- Physicians
- Self-Usage/Homecare
- Diagnostics Centers
- Others
- By Region
- North America
- U.S
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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