Market Highlights
Market Research Future (MRFR)
evaluated the diabetes
monitors market 2020 for the forecast period 2017-2023. By 2023, the
diabetes monitor market can rise at 8.3% CAGR.
The increase in low fiber food
intake is leading to rise in metabolic diseases. Among these, most are diabetic
patients. Along with the rise in cases of type 1 diabetes, type 2 diabetes
cases are also observed to peak. Diabetes is a silent killer and requires
periodic check-up. Often, frequent visit to clinics becomes tedious. Hence, are
large number of patients prefer diabetes monitor that can check blood glucose
level at home. At the same time, to monitor types of diabetes and also, gestational
diabetes, hospitals and clinics highly rely on diabetes monitors. Other type of
diabetes, such as monogenic diabetes and cystic fibrosis-related diabetes can
also be checked by diabetes monitors. These are some factors that are observed
to promote the expansion of the diabetes market in the years ahead. Other
causes that can favor the diabetes
monitoring market are technological innovations, hefty research funds, rise in diabetes
cases, rapid approval by regulatory bodies, and expansion of world obesity
population. On the contrary, high diagnosis and treatment expense for diabetes,
and lack of good reimbursement policies can limit the diabetes monitors market rise
in the years to come.
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Market Segmentation
The segment assessment of the diabetes
monitors market is done by type, sample, end-users, and component.
The sample based segment of the diabetes
monitors market are sweat samples, blood samples, and urine samples among
others.
The type based segment of the
diabetes market are continuous glucose monitors (CGM), point sample test based
glucose monitors, and enzyme free sensor based glucose monitors. The continuous
glucose monitors are used largely. Re-usable sensor-based and Disposable
sensor-based are two popular types of CGM.
The component based segment of
the diabetes monitor market are sensors, lancet, and glucose test strips.
Sensors sub-segments are enzyme-free sensors and enzyme-based sensors.
The end –users based segment of
the diabetes monitor market are hospitals, diagnostic clinics, and home. The
home segment to earn decent revenue for the world market.
Regional Analysis
Trends of the diabetes monitors
market is assessed across EU, the Americas, APAC, and the MEA. The expansion of
the diabetes patient in North America due to sedentary life style and high
intake of low fiber content diet can tout North America diabetes monitor market
in the analysis period. According to National Diabetes Statistics Report, a
considerable population of the U.S. has type 1 diabetes. In addition, increase
in cases of type 2 diabetes in the region is also creating the demand for
diabetes monitors. These are identified as factors that can boost the regional
market in the analysis period. In Europe, the diabetes monitor market can earn
high revenue in the approaching years due to similar growth factors that are
observed in North America. In addition, the rise in support from the regional
government are observed to make substantial investment in the healthcare domain
for effective innovations that can improve the momentum of Europe market. In
Asia Pacific, the rise in the need for cost-effective glucose monitoring
devices by the large pool of patient can drive the expansion of the regional diabetes
monitor market. In MEA, the market can experience moderate growth as technical
development in the region is yet to match the rest of the World.
Major Key Players
MRFR lists some noteworthy
diabetes monitor marketers. They are; Abbott Laboratories, Panasonic, Dexcom,
Inc., F. Medtronic, Hoffmann-La Roche Ltd, Sanofi, and LifeScan, Inc.
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