Blood Glucose Meters Market- Introduction

  • Blood glucose meters are electronic devices that are used to analyze blood through a minute blood drop, which is drawn using a lancet and a corresponding lancing device
  • The blood is placed on a small disposable test strip that is inserted into the blood glucose meter, which reads the level of glucose in the blood
  • The blood glucose meter is portable, powered by a battery, and it is small enough to fit in the palm of the hand
  • After placing the blood on the strip, it is passed through a tube. The blood glucose concentration is then determined by the electrochemical reaction between the test strip and the blood.

Key Drivers of Global Blood Glucose Meters Market

Surge in Number of Diabetic Patients

  • The blood glucose meters market is being driven by a surge in the number of diabetic patients globally
  • For instance, as per data provided by the World Health Organization (WHO), the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014
  • Furthermore, in 2016, an estimated 1.6 million deaths were directly caused by diabetes. Such instances have fueled the demand for blood glucose meters.

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Technological Advancements to Offer Significant Opportunities

  • Conventional blood glucose meters adopt invasive techniques for diagnosis, most common of which involves taking blood samples with the help of needle pricks to the fingers.
  • This method was painful for several users, while it caused discomfort to some. Therefore, there was always a need for a substitute to these invasive devices for continuous glucose monitoring.
  • In 2018, DiaMonTech announced the launch of a compact blood glucose meter that functions on an infra-red technology, which is used to count the glucose molecules
  • This product is expected to transform existing blood glucose monitoring techniques and is likely to witness high demand globally
  • The arrival of non-invasive devices is likely to boost the global blood glucose meters market

Asia Pacific to Dominate Global Blood Glucose Meters Market

  • North America accounts for a majority share of the global blood glucose meters market due to advancements in health care facilities and surgical equipment in the region. Moreover, expansion of the blood glucose meters market in North America can be attributed to a large diabetes population, rise in number of diabetes cases in the younger population, and technological advancements in the region.
  • The dominant share held by North America is also attributed to the availability of advanced healthcare infrastructure and high government funding for advanced healthcare facilities in the region
  • The blood glucose meters market in Asia Pacific is estimated to expand at a significant growth rate during the forecast period due to a surge in the number of diabetes cases in India and China
  • The market in Latin America and Middle East & Africa is likely to expand at a moderate growth rate during the forecast period

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Key Players Operating in Global Market

  • The global blood glucose meters market is highly fragmented due to the presence of several key players accounting for a major share of the market, resulting in a highly competitive environment.
  • Demand for blood glucose meters has increased in both emerging and developed markets. Market players are also appointing third-party distributors to expand their presence in the market. This has resulted in a surge in the number of distributors and suppliers in emerging markets. Some of the key players operating in the global market are:
  • Hoffmann-La Roche Ltd.
  • Braun Melsungen AG
  • Medtronic
  • Lifespan Inc.
  • Ascensia Diabetes Care Holdings AG.
  • Terumo Medical Corporation
  • Abbott
  • Sanofi
  • DiaMonTech GmbH

Global Blood Glucose Meters Market- Research Scope

  • The global blood glucose meters market can be segmented based on product, usage-type, end-use, distribution channel, ergonomics, and region

Global Blood Glucose Meters Market, by Product

  • Blood Glucose Meters
  • Consumables
    • Lancets
    • Glucose Meter Strips

Global Blood Glucose Meters Market, by Usage-Type

  • Professional Blood Glucose Meters
  • Personal Blood Glucose Meters

Global Blood Glucose Meters Market, by End-use

  • Hospitals
  • Clinics
  • Others

Global Blood Glucose Meters Market, by Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Global Blood Glucose Meters Market, by Ergonomics

  • Handheld
  • Wearable

Global Blood Glucose Meters Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
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  • Recommendations to companies for strengthening their foothold in the market   

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Blood Glucose Meters Market

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