DUBLIN, July 30, 2021 /PRNewswire/ -- The "Diabetes Management: Blood Glucose Monitoring Devices Market (2021)" report has been added to ResearchAndMarkets.com's offering.
The burgeoning global blood glucose monitoring market is expected to increase at a healthy CAGR of 13.8%, from nearly $9.1bn in 2019, $9.8bn in 2020, to an estimated $19.7bn in 2025.
The blood glucose monitoring devices market includes: conventional handheld blood glucose meters (BGMs) that require frequent fingersticks, and new, sensor-based continuous glucose monitoring systems (CGMs) typically worn the upper arm or abdomen that conveniently monitor blood glucose 24/7, as well as lucrative supplies and software/accessories.
The blood glucose monitoring devices market is thriving despite the COVID-19 pandemic due in part to remote patient use and steadily increasing demand, particularly for novel CGMs such as Abbott's FreeStyle Libre and Dexcom's G6 CGM, which are among the fastest-growing medical device markets in the world.
Revenues for these sensor-based CGMs are quickly cannibalizing cumbersome fingerstick-based handheld BGMs due to overall convenience and the ability to continuously monitor blood glucose 24/7, eliminate painful fingersticks, sync and instantly transfer glucose data to smartphones via digital diabetes management apps that provide useful charts/trending data, instant alerts of impending high and low blood glucose, and sharing of data with caregivers/healthcare professionals.
Overall, these "smart" CGMs are helping people with both type 1 and type 2 diabetes better understand their condition, achieve tighter glycemic control, and improve diabetes complications while substantially lowering healthcare costs.
The CGMs segment is expected to continue to flourish due to ongoing innovations (such as smaller, lighter, more comfortable, more accurate/improved algorithms and longer-wear sensors) and expansion into new indications such as the larger population pool of non-insulin intensive type 2 diabetes, hospital, and international markets.
Meanwhile, sales of BGMs are expected to continue to decline due to cannibalization of CGMs, pricing pressures, and other factors; yet, these handheld devices will remain relevant and widely used by consumers and healthcare professionals who prefer this well-established, readily available technology.
BGMs will also remain popular in areas of the world without access or affordability to more sophisticated and costly CGMs, and to supplement CGMs for infrequent calibration or to confirm glucose data.
Key competitors in the blood glucose monitoring devices market include: Abbott, Dexcom, Roche, Ascensia Diabetes Care, LifeScan, Medtronic, Senseonics, and dozens of other smaller companies.
This comprehensive medical market and technology report provides:
- Overview of type 1 and type 2 diabetes and prevalence
- BGMs and CGM technologies, including digital diabetes management apps
- Competitive advantages/features
- Emerging technologies and innovations
- Regulatory approvals
- In-depth market and competitive analyses (market drivers/limiters, 6-year market forecasts by segment and region, 2019 and 2020 global/regional market share)
- Overview of companies, financials, and strategic growth plans
Key Topics Covered:
1. Diabetes Overview
1.2.3 Diagnosis and treatment
1.2.4 Cost of diabetes
2. Blood Glucose Monitoring Devices
2.1 Blood glucose meters
2.1.2 Ascensia Diabetes Care
2.1.6 One Drop/Apple Watch
2.2 Continuous blood glucose monitoring systems
2.3 New or emerging wearable blood glucose monitoring patches
2.3.1 Nemaura Medical
3. Market Analysis
3.1 Blood glucose monitoring devices market
3.1.1 Market forecast: global
3.1.2 Market forecast: by region and segment
3.1.3 US market
3.1.4 Five major European markets
3.1.5 Japanese market
3.1.6 Rest of the world market
3.1.7 Market drivers and limiters
3.2 Competitive analysis
3.2.1 Market share: global/combined
3.2.2 Market share: by segment
3.2.3 Market share: by region
3.3 Corporate profiles
3.3.4 Nemaura Medical
For more information about this report visit https://www.researchandmarkets.com/r/5lrx32
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SOURCE Research and Markets