Overview
Blood glucose monitoring method is used for testing glucose levels in the blood. Due to the worldwide rise in diabetic patients, the market is showing significant growth. The global blood glucose monitoring market is expected to show about 07% annual growth rate. These monitoring devices help in early recognition of hypo and hyperglycaemic disorders. Due to unhealthy lifestyles, increased obese patients and lack of physical exercises are the main factors in the increase of diabetes. Hence increase in growth rate and overall market share.
Current market leaders are making continuous efforts to develop new methods and innovate next-level devices, which will not only help the market growth but also help the individual companies to come out as better market holders. Non-invasive techniques are the newest and most asked for procedures. Research for an introduction of new non-invasive methods is also helping the market to gain pace. On observing the increase in blood glucose-related disorders, authorities and socially active organisations are on a permanent run to look for better methods to decrease the severe health complications.
Self-testing kits are also one of the significant factors contributing to market growth as the waiting lists in the medical facilities are increasing due to the increase in the population count. Hence, it is easy, and the best way to test the glucose levels at home, it saves time and energy.
Market Segments of the Blood Glucose Monitoring Market
There are three segments to the blood glucose monitoring market:
By product type: Continuous glucose monitoring devices, invasive monitoring devices, flash glucose monitoring devices and others are some types of devices. Continuous glucose monitoring devices market is expected to face maximum adoption and growth due to increased demand for non-invasive methods.
By application: These monitoring devices are used for detection of type 1 diabetes type 2 diabetes and gestational diabetes. Type 2 diabetes will be the most significant area for its application due to an increase in related patients.
By End-Users: Hospitals, clinics, diagnostic centres, and home care facilities are some end-users of glucose monitoring devices. Home care devices are projected to be the dominant player among all of the above.
Regional Overview
The global blood glucose monitoring devices market is observed based on four markets in America, Europe, Asia Pacific and The Middle East & Africa.
The American region is the biggest market presently due to unhealthy lifestyles and increased obesity patients. Also, already well-established healthcare facilities, rapidly growing research & development programs and increasing investments are adding to the market share and progress. Europe is in second place because of the need for better healthcare measures and rapid increase in patients. Research and development are playing an important role and resulting in increased investments.
The Asia Pacific is in the third position and will face the fastest growth during the projected period. Demand for new treatment procedures, urbanisation, improved healthcare facilities is fuelling and continue the same in the future.
The Middle East & African regions hold the lowest market share and growth speeds.
Recent Industry News
Increased preference for non-invasive techniques calls for newer inventions. Asia pacific region will emerge as the fastest-growing market. Introduction of latest technologies and inventions will boost the market growth and individual company’s growth.
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