Global Self-monitoring Blood Glucose (SMBG) Market: Introduction

Glucose monitoring is a necessary step toward managing diabetes. Diabetes is a clinical condition wherein the glucose level in the blood increases due to the inability of the pancreas to produce insulin. Self-monitoring blood glucose (SMBG) helps diabetic patients in deciding the dosage of insulin, food intake, and type of physical exercise needed for a day. SMBG is a modern procedure of diabetes management wherein blood glucose meters are used to check glucose levels. This procedure provides a precise measure of capillary glucose concentrations. Apart from blood glucose meters, self-monitoring blood glucose technology also utilizes lancets and test strips to control glycaemia.

Key Drivers of Global Self-monitoring Blood Glucose (SMBG) Market

Rising prevalence of blood disorders

According to Office of Disease Prevention and Health Promotion, a large number of people in the U.S. have genes for bleeding and clotting disorders and hemoglobinopathies. About 1.2 million U.S. develop blood clots in veins of the leg. This condition is called deep venous thrombosis (DVT). According to WHO World Health Organization, hemoglobin disorders were originally endemic in 60% of 229 countries, potentially affecting 75% of births; however, they are common in 71% of countries among 89% of births (either in the whole population or among minorities), which prompts policy makers to consider the most appropriate strategy for treatment and prevention. At least 5.2% of the world population (and over 7% of pregnant women) carry a significant variant. Hemoglobin S accounts for 40% of carriers but causes over 80% of disorders owing to localized very high carrier prevalence: around 85% of sickle-cell disorders, and over 70% of all affected births occur in Africa. Thus, rising blood disorders is expected to drive the market.

Rising prevalence of diabetes

According to American Diabetes Association, the prevalence of diabetes for all age-groups worldwide was estimated to be 2.8% in 2000 and 4.4% in 2030. The total number of people with diabetes is projected to rise from 171 million in 2000 to 366 million in 2030. According to WHO, in 2019, an estimated 1.5 million deaths were directly caused by diabetes. Another 2.2 million deaths were attributable to high blood glucose in 2012. According to WHO, the number of people with diabetes rose from 108 million in 1980 to 422 million in 2014. The global prevalence of diabetes among adults over 18 years of age rose from 4.7% in 1980 to 8.5% in 2014. In 2016, an estimated 1.6 million deaths were caused directly by diabetes. In 2012, another 2.2 million deaths were attributable to high blood glucose. Regular checkup and analysis of blood components and management of insulin can reduce diabetic conditions. Thus, the diagnosis of such diseases is expected to drive the market.

North America to Account for Major Share of Global Self-monitoring Blood Glucose (SMBG) Market

North America is projected to account for a major share of the global self-monitoring blood glucose (SMBG) market during the forecast period. North America is leading the global self-monitoring blood glucose (SMBG) market, as the region has witnessed rapid expansion of the healthcare industry. Growing funding by governments for the development of new and innovative products to treat diabetes are also fueling the self-monitoring blood glucose (SMBG) market in the region. However, a rise in the number of people suffering from diabetes in Asia Pacific is estimated to significantly boost the market in the region during the forecast period.

Key Players Operating in Global Self-monitoring Blood Glucose (SMBG) Market

The global self-monitoring blood glucose (SMBG) market is highly consolidated owing to the presence of several key players. Leading players operating in the global self-monitoring blood glucose (SMBG) market include:

  • Abbott Laboratories
  • Bionime Corporation
  • B. Braun Melsungen AG
  • F. Hoffmann-La Roche Ltd.
  • LifeScan IP Holdings, LLC
  • PHC Holdings Corporation
  • Terumo Corporation
  • Trividia Health, Inc. (Sinocare Inc.)
  • ARKRAY, Inc.
  • Ypsomed Holding AG

Global Self-monitoring Blood Glucose (SMBG) Market: Research Scope

Global Self-monitoring Blood Glucose (SMBG) Market, by Product Type

  • Glucose meters
  • Lancets
  • Test strips

Global Self-monitoring Blood Glucose (SMBG) Market, by Application

  • Type 1 Diabetes
  • Type 2 Diabetes
  • Gestational Diabetes

Global Self-monitoring Blood Glucose (SMBG) Market, by End-user

  • Hospitals
  • Home Settings
  • Diagnostic Centers

Global Self-monitoring Blood Glucose (SMBG) Market, by Region

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

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Self Monitoring Blood Glucose Market