Quadintel published a new report on the Blood Glucose Monitoring Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
The global blood glucose monitoring market size was US$ 13.95 billion in 2021. The global blood glucose monitoring market is forecast to grow to US$ 27.01 billion by 2030 by registering a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
Blood Glucose Monitoring Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Quadintel, is an in-depth analysis of 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. It places the market within the context of the wider Blood Glucose Monitoring Market , and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Factors Influencing the Market
Blood glucose monitoring systems are widely adopted by healthcare providers to offer effective diabetic management. In addition, they are cost-efficient, which makes them convenient for home use. As a result, the global blood glucose market will grow at a substantial growth rate.
The global blood glucose market is forecast to benefit from ongoing technological innovations. For instance, Roche introduced its new Accu-Chek Instant system in Feb 2021. This new “connected” blood glucose monitoring (BGM) system supports integrated Personalised Diabetes Management (iPDM). Thus, more such advancements in the blood glucose monitoring industry will contribute to the growth of the market.
The growing cases of diabetes will drive the blood glucose monitoring market forward. According to the report by International Diabetes Federation (IDF), around 450 million adults were diagnosed with diabetes in 2020. Thus, the high prevalence of this disease will contribute to the growth of the market.
Rising awareness related to the health hazards of diabetes and necessary measures to prevent the disease will fuel the growth of the global blood glucose monitoring market.
The trending use of smart monitoring apps will also offer ample growth opportunities for the blood glucose monitoring market.
COVID-19 Impact Analysis
The wake of the COVID-19 raised the demand for home healthcare, thereby boosting the growth of the global blood glucose monitoring market. In addition, diabetic patients were at a high risk of acquiring the virus. As a result, the need for proper care and regular diagnosis increased significantly. The growing inclination towards home health monitoring offered favorable opportunities for market growth. Companies operating in the healthcare devices segment witnessed soaring revenue. In addition, the rising number of FDA approvals further contributed to the growth of the global blood glucose monitoring market.
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Regional Analysis
North America is forecast to dominate the global blood glucose monitoring market, followed by Asia-Pacific. The growth of the market is attributed to the presence of large pool of diabetic patients. In addition, high healthcare expenditure and rising awareness among the citizens related to early diagnosis will contribute to the market expansion.
Competitors in the Market
Abbott Laboratories
ARKRAY, Inc.
Bayer AG
Dexcom, Inc.
Lifescan Inc.
Ascensia Diabetes Care Holdings AG
B. Braun Melsungen AG
Terumo Medical Corporation
Medtronic plc
Nipro Diagnostics, Inc.
F. Hoffmann-La Roche Ltd
NU Skin Enterprises
NBTY Inc.
Herbalife International
Bionava Lifesciences
Other Prominent Players
Market Segmentation
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The global blood glucose monitoring market segmentation focuses on Type, Device, End-User, and Region.
Based on Type
Invasive
Non-invasive
Based on Device
Continuous blood glucose monitoring system
Self-monitoring blood glucose monitoring system
Based on End-User
Hospitals
Diagnostic Center
Clinics
Others
Based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Final Report will add the analysis of the impact of COVID-19 on this industry.”
In the highly import dependent Blood Glucose Monitoring Market , a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
The report provides a snapshot of the Blood Glucose Monitoring Market . It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section. A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability.
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