DUBLIN, Dec. 22, 2017 /PRNewswire/ --
The "Blood Glucose Monitoring System Market by Product, Testing Site, Patient Care Setting, Application - Global Forecast to 2022" report has been added to Research and Markets' offering.
The global blood glucose monitoring system market is projected to reach USD 10.58 Billion by 2022 from an estimated USD 8.35 Billion in 2017, at a CAGR of 4.8% during the forecast period. T
he growth of this market is majorly driven by factors such as rising prevalence of diabetic population, and increasing product launches.
The blood glucose monitoring system market is segmented on the basis of product, testing site, patient care setting, application, and region. Based on product, the market is segmented into self-monitoring blood glucose systems and continuous glucose monitoring systems. The continuous glucose monitoring system segment is expected to grow at the highest CAGR during the forecast period. The high growth in the continuous glucose monitoring system segment can be primarily attributed to the rising adoption of minimally invasive procedures.
The high cost and poor reimbursements of blood glucose monitoring systems and supplies is expected to restrain the growth of this market during the forecast period. For instance, in emerging countries such as China and India, patients bear the expenses of the blood glucose monitors and testing strips. Additionally in developed countries such as Canada and some European nations there is a limitation on the quantity of testing strips supplied per patient per year based on the treatment plan of the patient
Roche is one of the leading companies in the blood glucose monitoring system market, as it offers an extensive range of glucometers and lancets. To maintain its market position in diabetes care, the company focuses on expanding its product portfolio through acquisitions. For instance, in 2017, the company acquired mySugr GmbH, which is likely to expand Roche's product portfolio in the area of diabetes management.
Geographically, Roche has a strong presence in North America, Europe, and Asia Pacific. Its strong distribution channels help it to cater to the rising demand for diabetes care devices across the globe. However, increasingly stringent government regulations and global financial fluctuations are major threats to the company's revenue generation.
- Growing Prevalence of Diabetes
- Increasing Number of Product Launches
- High Cost and Poor Reimbursement of Blood Glucose Monitoring Systems and Supplies
- Pipeline Products and Ongoing Research
- Invasiveness of Blood Glucose Monitors
- Abbott Laboratories
- Acon Laboratories
- Ascensia Diabetes Care
- B. Braun Melsungen
- F. Hoffmann-La Roche
- Nova Biomedical
- Prodigy Diabetes Care
For more information about this report visit https://www.researchandmarkets.com/research/mhtdmr/global_blood?w=5
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets