Blood Glucose Monitoring Devices Market

Blood Glucose Monitoring Devices Market

The global blood glucose monitoring devices market is likely to be driven by the rising prevalence of diabetes, as well as the growing elderly population, which are prone to diabetes. Increased awareness of diabetes preventative care and novel product introductions are also propelling the industry forward. Diabetes refers to a medical disorder in which the pancreas is unable to make insulin, resulting in an elevated blood glucose level. BGM or blood glucose monitoring gadgets are both cost-effective and necessary for correct diagnosis and therapy. Blood sugar levels are measured with these devices, which is an important step in diabetes management. It also aids in the avoidance of other health problems including cardiovascular disease, retinopathy, and neuropathy.

There are many different types of blood glucose monitors in the market, each comes with its own testing time, price, size, and simplicity of use. Numerous nations imposed lockdowns during the Covid-19 epidemic to prevent the disease's spread. Diabetic patients' daily routines have changed as a result, including their sedentary behavior, physical activity, and dietary habits. The demand for self-monitoring devices is rising as a result of all of these factors that cause aberrant variations in the levels of glucose. Obesity is one of the leading causes of diabetes, which is why it is likely to play an important role in the growth of the global blood glucose monitoring devices market.

Global Blood Glucose Monitoring Devices Market: Overview

Diabetes is a group of metabolic diseases in which the patient experiences high or low levels of blood sugar levels over a longer duration of time. Diabetes is one the chief diseases could result in the development of chronic cardiovascular diseases or lead to fatal risks such as heart failure and cardiac arrests. Thus, it is pivotal for a diabetic patient to keep their blood glucose levels under surveillance, and at regular time intervals. This can be easily achieved by using monitoring devices for diabetes, paving the way for the blood glucose monitoring devices market.

The rising incidence of diabetes globally is a major factor contributing to the growth of global diabetes monitoring devices market. According to the World Health Organization (WHO) in the year 2014, diabetes was considered to be one of the diseases that had dire consequences on health, and affected around 422 million individuals over the globe. Furthermore, it has caused in roughly 1.6 million deaths in the year 2015, which stresses on the urgent requirement for effective management solutions; further fuelling the blood glucose monitoring devices market.

The report offers an in-depth insight into the global blood glucose monitoring devices market, elucidating on its growth factors, opportunities, restraints, and latest market trends.

Global Blood Glucose Monitoring Devices Market: Trends and Opportunities

A key drivers of the global blood glucose monitoring device market is the introduction of favorable reimbursement options for glucose meters. Generally, glucose monitoring devices are expensive and need to be replaced every 6 to 8 months. As this isn’t an economically viable option, most people prefer investing in an all-inclusive insurance that provides cover for blood glucose monitoring devices, along with test strips and testing supplies. This is a significant factor shaping the trajectory of the blood glucose monitoring devices market.

A key trend that fortifies the growth of this market is the surge in online marketing strategies of these devices. In order to increase the brand equity and sales, vendors are expanding their online reach and promoting their products on a large scale.

Global Blood Glucose Monitoring Devices Market: Geographical Analysis

Based on region, the global blood glucose monitoring devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America and Europe are anticipated to lead the global market on account of their large population plagued with diabetes, the region’s rapidly increasing geriatric and obese population, and their high per capita expenditures on healthcare. The Asia Pacific market is expected to rise at a substantial rate during the forecast period ascribed to the populous nations of India and China. The market in Latin America and Middle East & Africa is likely to expand at moderate growth rate over the period of forecast.

Global Blood Glucose Monitoring Devices Market: Companies Mentioned

With a highly fragmented vendor landscape, the global blood glucose monitoring devices market is likely to witness with a highly competitive environment. Key players operating in the market include Novo Nordisk A/S, Medtronic plc, Abbott Laboratories, Sanofi, Dickinson and Company, Hoffmann-La Roche Ltd., LifeScan, Inc., Johnson & Johnson, ARKRAY, Inc., Becton and Terumo Corporation.

Blood Glucose Monitoring Devices Market, by Product

• Natural Fiber
• Aluminum
• Polymer Fiber
• Steel
• Acrylonitrile Butadiene Styrene Plastic

Blood Glucose Monitoring Devices Market, by End-User

• Passenger Vehicle
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Blood Glucose Monitoring Devices Market, by Geography

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