Global Growth on Diabetes Monitors Market Forecast to 2023

Diabetes Monitors Market Overview

Diabetes monitors automatically track blood glucose levels, also called blood sugar, any time a patient needs. One can easily see glucose level anytime at a glance. The users can also review how their glucose level in the body changes over a few days or even a few hours to see the patterns. Diabetes monitoring in real time  can help people make more informed decisions about their diet and other things throughout the day, week, or month and can balance physical activity, food, and medicines without having to rely on costly lab tests.

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The blood sugar levels of everyone change during the day, and particularly after eating, but these changes are important to monitor for diabetic people, as their bodies do not control blood sugar on their own. However, the pancreas normally produces insulin for individuals without diabetes to keep conditions in check. Diabetes devices take up to five minutes to calculate and individuals can set alerts to warn them if their blood sugar levels are alarmingly high or low.

The increasing occurrence of diabetes in low and middle class families residing in different countries seems to be driven by a dietary change, urbanisation, and rapidly unhealthy lifestyles. Many other factors including rising technical advances, research support for diabetes diagnosis and care, growing government approval, and increased global diabetes rate also drive growth in the future. It is projected that the demand for diabetes monitoring solutions is expected to expand at an 8.3 per cent CAGR from 2017 to 2023.

Diabetes Monitors Market Segmentation

The worldwide diabetes monitoring market share is bifurcated by type, sample, component and end-users. The market is subdivided, depending on the sample, into urine samples,  sweat samples, blood samples, and others. The global diabetes monitoring is categorized by type into continuous glucose monitors,  point-sample test-based glucose monitors, and enzyme-free glucose-based sensor monitoring systems. the former is further subdivided into, and CGM based on reusable sensors and disposable sensor based CGM. The market is categorized as per the components as glucose check strips, lancet, and sensors. Based on end users, the global market for diabetes monitoring is segmented into diagnostic clinics, hospitals, and homes.

Diabetes Monitors Market Regional Overview

Due to the size of the patient group, a very well-developed infrastructure, higher healthcare spending, and the existence of major players, the Americas dominates the diabetes monitoring market. Europe is in second place in the market for diabetes monitors. It is anticipated that the funding provided for research & development by public authorities together with an excellently-developed tech environment would drive the demand for diabetes monitors in the European region. During the forecast period, the Asia Pacific region is expected to become the fastest growing market. However, due to the presence of weak and underdeveloped countries, particularly in the African market, the Middle East and Africa holds the smallest share in the global market.

Industry News

So far, the NHS Long Term Program has delivered diabetes monitors to thousands of people around the world, helping about 30 000 people with a type I diabetes. The sensors, that are the size of a £2 coin and made to wear on the chest, ensure that people with type I don't have to conduct several uncomfortable finger-prick tests to track their blood sugar.

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NEW UPDATE: Diabetes Monitors Market Size, To Forecast by 2023

Diabetes Monitors Market - Overview

Diabetes monitors are used for monitoring glucose levels in the human bodies to optimize treatment strategies and provide insight into the effect of diet, medications, and exercise on the patient. As a cure for diabetes is yet to be developed so, managing this condition is the most successful means for its control.

Hence, diabetes monitors are essential and highly effective components for the disease management regime. Owing to the increasing prevalence of diabetes the diabetes monitors market is growing pervasively.  Moreover, factors such as the technological advancements, are escalating the market on the global level.

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Acknowledging the exponential upsurges, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the global diabetes monitors market will reach USD 17458.1 MN by 2023, registering approximately 8.3% CAGR throughout the forecast period (2017-2023).

Additional factors boosting the market growth include huge research funding in diabetes diagnosis and treatment and rising approval from regulatory bodies. Huge technological advancements and the vast uptake of smart technology drives the growth of the diabetes monitors market.

On the flip side, factors impeding the growth of the global include the high cost associated with these monitors and the stringent FDA approvals & reimbursement policies. Nevertheless, factors such as the increasing demand for these diabetes monitors are expected to support market growth.

Global Diabetes Monitors Market – Segments

MRFR has segmented the report into five key dynamics for an easy grasp;

By Sample: Blood, Sweat, and Urine Samples.

By Type: Point Sample Test-based Glucose Monitors, and Continuous Glucose Monitors (CGM) among others.

By Component: Lancet, Glucose Test Strips, and Sensors (Enzyme-based and Enzyme-free Sensors) among others.

By End-users:  Diagnostic Clinics, Hospitals, and Home among others.

By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Global Diabetes Monitors Market – Geographical Analysis

The global diabetes monitors market trends consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas is the leading market across the globe on account of increasing patient population. As per the National Diabetes Statistics Report suggested by Centers for Disease Control and Prevention, it is found that 9.4% of the U.S. population i.e. 30.3 million people had diabetes in 2015.

Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The increasing government support for development of the healthcare domain drives the European market.

Asia Pacific region is projected to be the fastest growing region during the forecast period. Increasing need for cost-effective glucose monitoring devices, rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific region.

The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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Global Analysis On Diabetes Monitors Market 2020

Diabetes monitors market Insights 

Rapid urbanization, a growing geriatric population, changing lifestyles and a prevalence of unbalanced diets have contributed to the increasing occurrence of type 2 diabetes in the global population. This has inevitably created a more widespread demand for diabetes monitors. Both type 1 and 2 diabetes are widespread across the globe, with type 2 being the more commonly occurring form of diabetes of the two. According to the International Diabetes Federation 1 in 11 adults (425 millions) has diabetes and over two-thirds of these cases are recorded in urban areas. While, there is no cure for the disease, it can be managed through ongoing monitoring, the demand for appropriate diabetic monitoring technologies has incited considerable growth and will continue to do so as the market develops during the forecast period.

Market Research Future (MRFR) has published a comprehensive market report that identifies trends and restraints that affect growth. The report also identifies market opportunities based on extensive analysis of the diabetes monitors market. MRFR has revealed that the global market is estimated to reach a value of USD $17.4 billion by 2023 and experience a CAGR of 8.3% during the forecast period (2017 - 2023). 

The global diabetes monitors market is projected to witness considerable growth during the forecast period, this is due to the huge research and development investment in advancing treatment options and providing monitoring solutions that are semi to non-invasive. Governments and other regulatory bodies worldwide, are encouraging innovative relevant technologies for diabetes monitoring. Although high costs associated with diagnosis & treatment and the inconvenience associated with common monitoring devices (finger pricking) are expected to hamper market growth, the demand for efficient and affordable monitoring methods is likely to propel growth as innovation progresses.

Market Segmentation

Segmental analysis of the global diabetes monitors market has been based on sample, type, component and end-users.

Based on sample, the market has been segmented into blood samples, urine samples, sweat samples and others. Blood samples are the largest market segment and is expected to possess a 75.70% share and witness a CAGR of 8.6% during the forecast period of 2017 to 2023. 

Based on type, the market has been segmented into point sample test based glucose monitors, continuous glucose monitors and enzyme free sensor based glucose monitors. Continuous glucose monitors (CGM) have been further sub-segmented to include, disposable sensor based CGM and re-usable sensor based CGM

Based on components, the market has been classified into lancet, glucose test strips and sensors. Sensors have been sub-segmented into enzyme based sensors and enzyme free sensors.

Based on end users, the market has been segmented into diagnostic clinics, hospitals and home.

Regional Analysis

The Americas possess the largest global market share owing to the strong presence of leading market players, large investments in research & development, a well-developed health sector and a large patient population in the region. The high prevalence of diabetes in this area has prompted government and private organizations to actively encourage improvement of treatment options available. 

Europe holds the second largest global market share and like the Americas, this region has supportive government associations that drive research and development to improve existing monitoring technologies. The strong potential for viable treatment and monitoring innovations from this region are fueling market growth. 

Asia Pacific is predicted to be the fastest growing global market segment. Countries such as India and China count amongst countries with the highest occurrence of diabetes, the presence of a colossal patient population in the region is driving substantial growth for the region. There is a strong requirement for affordable monitoring devices and other relevant diabetes care which is attracting major players to cater to this region.

The Middle East and Africa includes countries such as the U.A.E., Qatar and Kuwait where an immensely rapid urbanization has led to a high number of diabetes diagnoses, thus driving growth for this market. However, due to the presence of impoverished and under developed economies of many African countries in this region is expected to limit growth during the forecast period.

Key Players

MRFR’s report analyzes the strategies of major players that participate in the competitive landscape of this market so as to provide relevant insights. Key players included in the report are LifeScan Inc., Panasonic, Dexcom Inc., Abbot Laboratories, F.Hoffmann La-Roche Ltd., Medtronic and Sanofi.  

Latest Industry News

Dexcom has announced Food and Drug Administration (FDA) approval of the Dexcom G6 CGM System. The device is developed to be used as a standalone CGM and for integration into automated insulin dosing (AID) devices. Perhaps the most impressive feature about this system is that it eliminated the need for finger sticks and is non-invasive. The sensor is also developed for longer use and will last 43% longer than previous version of the device.

Researchers at the UC San Diego Jacobs School of Engineering led by UC San Diego Centre for Wearable Sensors director and co-director have developed a glucose monitoring patch that is non-invasive. The patch is applied onto the skin like a temporary children's tattoo and contains electrodes that apply a minuscule electric current which forces molecules of glucose to rise to the surface for measurement. This monitoring method has enrolled for clinical trials. The method is expected to potentially be a viable non-invasive, user friendly and affordable monitoring solution.

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NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
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Pune – 411028
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Email: sales@marketresearchfuture.com

Diabetes Monitors Market -Size, Global growth and Forecast to 2023

Market HighlightsDiabetes is a metabolic disease that occurs when blood glucose level is too high either due to inadequate insulin production or because of low response towards insulin. The three most common type of diabetes are Type 1, Type 2, and gestational diabetes. Other less common type includes cystic fibrosis-related diabetes, and monogenic diabetes. The frequent blood glucose monitoring is critical for diabetic management, as the maintenance of standard glucose level, i.e. 4–8 mM, is the only way that a diabetic person can lead a healthy lifestyle. According to WHO, global prevalence of diabetes has risen from 4.7% to 8.5% in 2014. It is also estimated that around 1.6 million deaths have occurred in 2015 due to diabetes worldwide.

Rise in technological innovations, huge research funding for diabetes diagnosis and treatment, increasing prevalence and incidence of diabetes, rising approval from regulatory bodies, and increasing global obesity population. However, high cost associated with diagnosis and treatment of diabetes, and stringent reimbursement policies may hinder the growth of market to an extent.

It is estimated that diabetes monitors market is expected to grow at a CAGR 8.3% during the forecast period 2017-2023.

Taste the market data and market information presented through more than 296 market data tables and figures spread over 251 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “diabetes monitors market research report–Global forecast till 2023.”

Major Key Players in Global Diabetes Monitors MarketSome of key the players in the market are Panasonic, Abbott Laboratories, Dexcom, Inc., F. Hoffmann-La Roche Ltd , Medtronic, LifeScan, Inc., Sanofi, and others.

The global diabetes monitors market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas is the leading market across the globe on account of increasing patient population. As per the National Diabetes Statistics Report suggested by Centers for Disease Control and Prevention, it is found that 9.4% of the U.S. population i.e. 30.3 million people had diabetes in 2015.

Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The increasing government support for development of the healthcare domain drives the European market.

Asia Pacific region is projected to be the fastest growing region during the forecast period. Increasing need for cost-effective glucose monitoring devices, rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific region.

The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.

Segmentation

The global diabetes monitors market is segmented on the basis of sample, type, component, and end-users.

On the basis of sample, the market is segmented into blood samples, sweat samples, urine samples, and others.

On the basis of type, the market is classified into point sample test based glucose monitors, continuous glucose monitors, and enzyme free sensor based glucose monitors. Continuous glucose monitors are further segmented into disposable sensor based CGM, and re-usable sensor based CGM.

On the basis of components, the market is classified into lancet, glucose test strips, and sensors. Sensors are further segmented into enzyme-based sensors, and enzyme-free sensors

On the basis of end -users, the market is segmented into diagnostic clinics, hospitals, and home.

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