Self-Monitoring Blood Glucose Devices Market by Product (Test Strips, Lancets, and Blood Glucose Meters), Application (Type 1 Diabetes, Type 2 Diabetes, and Gestational Diabetes), and End User (Hospitals, Home Settings, and Diagnostic Centers) - Global Opportunity Analysis and Industry Forecast, 2018-2025
Self-Monitoring Blood Glucose Devices Market Overview :
Diabetes is a clinical condition where the glucose level in the blood increases due to inability of the pancreas to produce insulin. Glucose monitoring is one of the essential steps toward diabetes management. Monitoring of blood glucose helps patients decide the amount of food intake, dosage of insulin, as well as type of physical exercise required for the day. Self-monitoring blood glucose (SMBG) is modern diabetes management procedure, which involves the use of blood glucose meters to check glucose levels and provide an accurate measure of capillary glucose concentrations. SMBG technology uses test strips, lancets, and blood glucose meters to achieve better long-term glycemic control.
The global self-monitoring blood glucose devices market was valued at $7,768 million in 2017 and is projected to reach $10,828 million by 2025 at a CAGR of 4.2% from 2018 to 2025. Factors such as rise in prevalence of diabetes caused by rapid urbanization and sedentary lifestyle significantly drive the growth of the global self-monitoring blood glucose devices market. Moreover, technological advancements in the field of diabetes devices, rise in obese population, consumption of junk food, and surge in need for faster & safer diagnosis as well as treatment of diabetes further boosts the market growth. However, blood glucose monitoring devices provide the glucose level reading as a range and do not measure the exact level of glucose in blood. Moreover, high cost of blood glucose measuring devices hinders the market growth. Conversely, huge untapped market potential in the emerging countries, such as China and India, and rise in awareness about diabetes monitoring devices are expected to offer lucrative opportunities to the market players.
The global self-monitoring blood glucose devices market is segmented based on product, application, end user, and region. Depending on product, the market is divided into test strips, lancets, and blood glucose meters. By application, the self-monitoring blood glucose devices market is categorized into type 1 diabetes, type 2 diabetes, and gestational diabetes. Based on end user, the market is classified into hospitals home settings, and diagnostic centers. Based on region, the self-monitoring blood glucose devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Self-Monitoring Blood Glucose Devices Market :
The study provides an in-depth analysis of the global self-monitoring blood glucose devices market along with the current trends and future estimations from 2018 to 2025 to elucidate the imminent investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on the global & regional scale are provided.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
Self-Monitoring Blood Glucose Devices Key market segments :
Blood Glucose Meters
Type 1 Diabetes
Type 2 Diabetes
By End User
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
Becton, Dickinson and Company
B. Braun Melsungen AG
F. Hoffmann-La Roche Ltd.
Johnson & Johnson
PHC Holdings Corporation
Trividia Health, Inc.
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
All Medicus Co., Ltd.
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