Smart Glucose Monitors Market: Introduction
- Monitoring of blood glucose (BG) enables people having diabetes to measure their BG level and utilize the details in therapy schedule. Popularity of self-monitoring of blood glucose systems is attributed to the analytical features of the device, particularly of the test strips, and adroitness of the user. It is essential for health care providers to instruct patients and users about the accessible technical options for the supervision of blood glucose levels and ways to control it.
- Smartphones are installed with new applications, which monitor blood glucose level. Advanced technology devices, which are in development stage, such as Eye Sense, offer an alternative process for patients to evaluate the level of glucose without a lancet. An exterior meter determines blood glucose level with a small photometer implanted in the interject fluid beneath the conjunctive of the eye. When examining blood glucose monitoring, it is crucial to consider if an improvement in analytical exactness would lead to improved clinical findings for the patient.
Smart Glucose Monitors Market: Key Trends
- Rise in prevalence of diabetes resulting in high demand for smart glucose monitors fuels the growth of the smart glucose monitors market during the forecast period. According to the Centers for Disease Control and Prevention, over 88 million adults in the U.S. have pre-diabetes, and more than 34 million people in the country have diabetes.
- High adoption rate of continuous sugar surveillance systems is projected to boost the growth of the global smart glucose monitors market from 2021 to 2031. Usage of blood glucose monitoring devices has increased among health care professionals in order to observe real-time blood sugar levels, which helps in better management of diabetic population. Rise in patient awareness and concerns about blood sugar level has led to surge in number of self-monitoring blood sugar users. This is anticipated to fuel the growth of the global smart glucose monitors market.
- Presently, the world is struggling with the COVID-19 pandemic. COVID-19 leads to pneumonia, severe & acute respiratory disorders, multiple organ failure, and, in severe cases, death. The geriatric population is more prone to COVID-19. According to a study conducted by the American Diabetes Association, diabetes and related traits could increase angiotensin-converting enzyme 2 (ACE2) (molecule may be a site of attachment of the virus responsible for COVID-19 to cells in the lung and elsewhere), which could influence susceptibility to infection (or more severe COVID-19 infection). This factor is expected to accelerate the growth of the global smart glucose monitors market during the forecast period.
- Governments of developing countries are making significant investments to modernize health care infrastructure in their respective countries, which is likely to increase access to health care. This is projected to drive the demand for smart glucose monitors.
North America to Capture Major Share of Global Smart Glucose Monitors Market
- North America is anticipated to dominate the global smart glucose monitors market from 2021 to 2031. This is attributed to favorable regulatory environment, rise in focus and interest in diabetes research & diagnostics, and government funding for research on life sciences. Additionally, growth of the medical device industry and presence of well-built and high-quality infrastructure for laboratory and clinical research propel the market in North America. The market in Asia Pacific is expected to grow at a rapid pace during the forecast period due to rise in research & developmental activities, increase in government initiatives for improving health care, and surge in focus of key players in building or strengthening presence in the region.
Key Players Operating in Global Smart Glucose Monitors Market
Key players hold a major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global smart glucose monitors market.
Major players operating in the global smart glucose monitors market are:
- Novo Nordisk
- F. Hoffmann-La Roche Ltd.
- Bayer AG
- LifeScan IP Holdings, LLC
- Dexcom, Inc.
- Elly Lilly and Company
- B Braun Melsungen AG
- Other prominent players
Global Smart Glucose Monitors Market: Research Scope
Global Smart Glucose Monitors Market, by Product Type
- Self-Monitoring Blood Glucose (SMBG) Systems
- Continuous Glucose Monitoring (CGM) Systems
Global Smart Glucose Monitors Market, by Disease Type
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
Global Smart Glucose Monitors Market, by End-user
- Private Clinics
- Home Care
Global Smart Glucose Monitors Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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