Blood Glucose Monitoring Consumables Market - Global Outlook and Forecast 2021-2026: Increasing Vendor Focus on Recurring Revenue Through Consumables

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May 12, 2021, 09:15 ET

DUBLIN, May 12, 2021 /PRNewswire/ -- The "Blood Glucose Monitoring Consumables Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Blood Monitoring Consumables Market Report.

The global blood glucose monitoring consumables market by revenue is expected to grow at a CAGR of over 13% during the period 2020-2026.

The market has witnessed significant growth due to the growing prevalence of diabetes and the increasing awareness of self-management of diabetes. The prevalence of diabetes worldwide increases at an alarming rate due to changing lifestyles, growing alcohol consumption, and increasing smokers.

However, the outbreak of the COVID-19 pandemic and the introduction of advanced test strips and lancets influence the digital diabetes management market's growth. The increased demand for self-care/homecare devices is also contributing to the usage of BGM consumables.

With an increase in the sale of blood glucose meters, test strips, and lancets, the market offers tremendous growth opportunities for global, regional, and local vendors. Therefore, many vendors strategically focus on the development and commercial launches for regular blood glucose monitoring, which increases the demand for consumables.

INSIGHTS BY GEOGRAPHY

In 2020, North America dominated the market due to its developed healthcare infrastructure and increased awareness of diabetics among patients. The usage of CGM sensors, test strips, lancets, and lancing devices is high among patients. The impact of COVID-19 has been increased in the region, with the US accounting for the highest infection rates.

INSIGHTS BY VENDORS

Medtronic, F. Hoffmann-La Roche, LifeScan, Abbott, and Ascensia are the major global players in the blood glucose consumables market.

New product approvals/launches coupled with increased R&D activities are the major strategies implemented by vendors to expand presence, enhance market growth, and sustain the market position. Vendors are actively launching innovative devices to penetrate and tap the high growth potential of the market. Vendors are aggressively engaged in R&D activities and plan to launch several innovative products in the coming years.

For instance, Abbott, F. Hoffmann-La Roche, Medtronic, Dexcom, LifeScan, and Ascensia Diabetes Care dominate the market due to continuous product innovations and launches. Several companies are developing or commercializing products such as CGM sensors with increased lifespan, advanced test strips, lancets, and lancing devices, respectively, for continuous and self-monitoring blood glucose devices in the market.

Prominent Vendors

Abbott
F. Hoffmann-La Roche
Dexcom
Medtronic
Ascensia Diabetes Care Holding
LifeScan

Other Prominent Vendors

77 Elektronika Kft
ARKRAY
A. Menarini Diagnostics
AgaMatrix
Alliance International
B. Braun Melsungen
Bionime
Bioptik
BioTest Medical
BTNX
EASYMAX
i-SENS
iHealth Lab
MED TRUST
Medisana
Major BioSystem
Sanofi
TaiDoc Technology
Terumo
Trividia Health
HMD
Rossmax International
Bioland Technology
e-Linkcare Meditech
Diagnosis SA
Microlife
Ypsomed
National Diagnostics Products
Norditalia
IME-DC

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview

8 Market Opportunities & Trends
8.1 Increasing Demand for Test Strips & Lancets Due To COVID-19
8.2 Technological Advancements in Test Strips & Lancets
8.3 Availability of Large Number Of Generic Test Strips

9 Market Growth Enablers
9.1 Increasing Prevalence Of Diabetes
9.2 Increasing Vendor Focus On Recurring Revenue Through Consumables
9.3 Availability Of Wide Range Of Blood Glucose Monitoring Devices

10 Market Restraints
10.1 High Cost of Consumables & Lack Of Health Insurance
10.2 Presence of Large Undiagnosed Population
10.3 Increasing use Of Unauthorized & Counterfeit Test Strips

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis

12 Product
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Test Strips
12.4 Lancets & Lancing Devices
12.5 CGM Sensors

13 Distribution Channel
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Online
13.4 Offline

14 End-User
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Individuals
14.4 Hospitals &Clinics
14.5 Others

15 Geography
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview

For more information about this report visit https://www.researchandmarkets.com/r/4masph

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