Global Blood Glucose Measurement Market: Diabetes mellitus is group of diseases which affects blood sugar (glucose) levels in the body. Glucose is very important for the health as it’s a vital energy source of the cells which is helpful to build the muscles and tissues. It is one of the source to fuel the brain activities. Diabetes is characterised by increased levels of glucose in the blood. Blood glucose measuring devices helps the patients and healthcare professionals in measuring the glucose levels in the blood.
Global Blood Glucose Measurement Market Outlook
Blood glucose monitoring devices market is driven by the high incidence of diabetes worldwide. According to the World Health Organisation (WHO), prevalence of the diabetes among adults about 18 years, risen from 4.7% to 8.5% from2012 to 2014 and diabetes is the 7th leading cause of the death. In addition to this factors, rise in advancements in technology like evolution in the continuous glucose monitoring devices are boosting the growth of blood glucose monitoring devices market. Moreover, rise in demand of portable self-glucose measuring devices, rise in investments and activities in R&D and funds from the government in preventing and treating diabetes are boosting the growth of the blood glucose measurement devices. Frequent product recalls of glucose testing strips owing to the manufactural defects and supplying of test strips which are, less differentiation products among the self-blood glucose monitors are some of the factors which are hampering the growth of the blood glucose measurement devices. Due to limited facilities of reimbursement and availability of alternative treatments which includes cell based assays, identification of biomarkers and artificial pancreas and high costs of the devices are the few threats for the growth of market.
Global blood glucose measurement device market is segmented based upon product and end-user
By product, blood glucose measurement devices are segmented into
- Self-Glucose Measurement Devices
- Blood Glucose Meter
- Blood Glucose Testing Strips
- Continuous Glucose Measurement Devices
By end-user, glucose measurement devices market is segmented into
- Diagnostic Centres
- Home Settings
Market players are investing heavily to innovate products in order to maintain their position in the market, acquisitions and collaborations are the key strategies are used by the market players in order to increase the market share of the companies. For example, in 2017, Abbott Laboratories entered an agreement with Bigfoot Biomedical to commercialize and develop the diabetes management systems and also a Switzerland based company Ascensia Diabetes Care entered partnership with Medtronic to develop and market the diabetes management solutions.
Geographically blood glucose measurement market is divided into five key regions Asia- Pacific, North America, Middle East & Africa, Europe and Latin America. North America expected to be the leader in blood glucose measurement market and expected to have a significant growth rate during the forecast period. Europe region is also expected to show a notable rate of growth due to the changes in lifestyle and rise in adaption of home care diagnosis. Asia-Pacific region due to growing awareness about diabetes consequences like cardiac related issues are contributing the regions to show a significant growth. Initiatives taken by the government and non-government organizations in order to spread the awareness about the early diagnosis of diabetes, changes in lifestyle, large pool of patients are expected to drive the blood glucose measurement market growth.
Some of the players in the blood glucose measurement market are Nipro Diagnostics, Inc. (U.S.), Abbott Laboratories (U.S.), ARKRAY (Japan), Medtronic (U.S.), Bayer AG (Germany), Dexcom, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Johnson and Johnson Services Inc. (U.S.) and Terumo Medical Corporation (U.S.) to name a few.
- In 2016, Roche launched the Accu-Chek® Guide, the next-gen blood glucose monitoring system
- In 2013, a Norway based manufacturer Prediktor Medical, developed a wearable device for estimating the blood glucose levels with dynamic models advanced and multivariate analysis and for interaction of insulin or glucose
- The report provides granular level information about the market size, regional market share and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario