Optical and Non-Invasive Techniques Form Part of Product Portfolio of Key Companies in Blood Glucose Monitoring Systems Market, Global Valuation to Touch ~US$ 25 Bn by 2027: Transparency Market Research
- Technological advancements aim at improving diagnostic techniques and equipment, self-monitoring blood glucose systems held the major market share in 2018 and is anticipated to maintain its prominence during 2019 - 2027
- High prevalence of diabetes mellitus calls for smart blood glucose monitoring systems to aid treatment in decision-making in patients and for clinicians
ALBANY, N.Y., Nov. 4, 2020 /PRNewswire/ -- Research in next-generation, continuous glucose monitoring among diabetics have been propelling the constant evolution in the blood glucose monitoring systems market. A number of biomarkers of glycemic control have emerged whose monitoring can provide long-term benefits to patients, thereby fueling the adoption of smart glucose monitoring technologies among patient population. Advances in sensors are paving way to new avenues for industry players.
All these will propel the global blood glucose monitoring systems market to expand at a CAGR of 5.5% from 2019 to 2027.
Researchers at TMR foresee that developments in optical and non-invasive monitoring techniques will open potential revenue streams for medical device manufacturers in the blood glucose monitoring systems market.
These will focus on unveiling reliable, easy to use, and accurate blood glucose monitoring systems to reduce the disease burden of both Type 1 and type 2 diabetes.
Explore 258 pages of top-notch research, incisive insights, and detailed country-level projections on Blood Glucose Monitoring Systems Market (Product: Self-monitoring Blood Glucose Systems [Blood Glucose Meters, Testing Strips, Lancing Devices, and Lancets] and Continuous Glucose Monitoring Systems [Sensors, Transmitters, and Receivers]; Application: Type 1 Diabetes, Type 2 Diabetes, and Gestational Diabetes; Testing Site: Fingertip Testing and Alternate Site Testing; and Patient Care Setting: Self/Home Care, Hospitals, and Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/76761
Key Findings of Blood Glucose Monitoring Systems Market Report
Of the various product types, self-monitoring blood glucose systems segment held the major share in blood glucose monitoring systems market in 2018
Testing strips are potentially lucrative sub-segment in self-monitoring blood glucose systems segment
The segment expected to expand at leading growth rate during 2019 – 2027
By 2027, the valuation of the global market to reach ~US$ 25 Bn
Geographically, the Americas held the major market share in 2018
Europe is the second leading segment in global market
Asia Pacific blood glucose monitoring systems market to expand at high CAGR during 2019 - 2027
Blood Glucose Monitoring Systems Market: Key Driving Factors and Promising Avenues
Rise in awareness about the disease burden of diabetes in populations around the world has propelled the market prospects of blood glucose monitoring systems. The burden is compounded by high morbidity, and mortality and reduced life expectancy.
The need for easily accessible and affordable technologies for improving measures of glucose control has augmented the demand for continuous glucose monitoring (CGM) systems in patients. Their adoption helps in long-term prognosis.
The marked prevalence of type 1 diabetes mellitus in numerous countries around the world is a key trend boosting the market.
Per a report published on epidemiology of diabetes in NCBI, the global prevalence of diabetes is expected to climb to 592 million by 2035.
Substantial advances have been made in developing and commercializing non-invasive monitoring techniques in the blood glucose monitoring systems market.
Rapidly rising geriatric populations are key to comorbidities in diabetics. This is propelling the use of self-monitoring devices and better CGM systems.
Growing adoption of smart blood glucose monitoring systems in young adults has been boosting the market growth.
The advent of smart insulin pens and other smart devices will help the blood glucose monitoring systems market to emerge rapidly. This is supported by the discovery of reliable biomarkers of glycemic control.
Favorable policies in numerous developed and developing economies are supporting the adoption of smart devices.
Blood Glucose Monitoring Systems Market: Competitive Assessment
The competitive landscape in blood glucose monitoring systems market is shaped by the constant product developments. To this end, numerous players are leaning on partnerships and collaborations, and strengthening their distribution chains to consolidate their geographic footprints in the near future.
Some of the top players are keen on harnessing the potential of mobile apps, especially for use among patients with diabetes mellitus. Aspiring players are incorporating the unveiling of reliable next-generation glucose monitoring systems. Key players are keen on expanding decision support tools for patients by testing novel technologies.
Some of the well-entrenched company names in the blood glucose monitoring systems market are Ascensia Diabetes Care, Abbott Laboratories, Roche Holding AG, AgaMatrix, B.Braun Melsungen AG, and Medtronic.
Global Blood Glucose Monitoring Systems Market: Segmentation
Blood Glucose Monitoring Systems Market, by Product
Self-Monitoring Blood Glucose Systems
Blood Glucose Meters
Continuous Glucose Monitoring Systems
Blood Glucose Monitoring Systems Market, by Application
Type 1 Diabetes
Type 2 Diabetes
Blood Glucose Monitoring Systems Market, by Testing Site
Alternate Site Testing
Blood Glucose Monitoring Systems Market, by Patient Care Setting
Blood Glucose Monitoring Systems Market, by Region
Rest of Americas
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
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