Global POC Blood Glucose Monitoring Devices Market 2018-2022
About POC Blood Glucose Monitoring Devices
POC blood glucose monitoring devices are portable, near-patient devices that allow the immediate detection of glucose levels in a patient and facilitate rapid treatment solutions if the need arises. These devices consist of minimum operator interaction and are non-invasive in nature with efficient data management and connectivity tools.
Technavio’s analysts forecast the global POC blood glucose monitoring devices market to grow at a USD 2,036.4 million during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global POC blood glucose monitoring devices market for 2018-2022. To calculate the market size, the report considers the revenue generated from the POC blood glucose monitoring devices.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global POC Blood Glucose Monitoring Devices Market 2018-2022
Technavio recognizes the following companies as the key players in the global POC blood glucose monitoring devices market: Abbott, ARKRAY, Ascensia Diabetes Care, Danaher, F. Hoffmann -La Roche, and Johnson & Johnson
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Paradigm shift towards non-invasive products. The non-invasive POC blood glucose monitoring devices are hand-held devices that offer numerous benefits over finger prick glucose test such. Non-invasive POC blood glucose monitoring helps to avoid finger prick, which is a convenient, easy to read large number display. Moreover, it can track patient compliance, and multiple test can help to provide adequate therapeutic decisions by healthcare providers. ”
According to the report, one of the major drivers for this market is Public and private initiatives to reduce diabetic cases. There is an increasing case of lifestyle diseases such as diabetes, which affects individual's ability to turn food into energy. Diabetes is of three types: type 1, type 2, and gestational diabetes (diabetes during pregnancy). According to CDC, as on 2017, approximately 30.3 million individuals residing in the US have diabetes, and more than 95% of these diabetic patients have type 2 diabetes. Type 2 diabetes is caused owing to several factors such as heredity, obesity, unhealthy diet, and sedentary lifestyle.
Further, the report states that one of the major factors hindering the growth of this market is High cost associated with diabetes management. Majority of POC blood glucose monitoring devices manufactured by various global and local players are cost-efficient. However, the cost associated with diabetes management in high, leading to out of -pocket expenditure for consumables used in POC blood glucose monitoring devices. Consumables such as blood glucose test strips, reagents, and cassettes are expensive and are required for daily usage. An invasive device such as lancet is bought separately along with the POC blood monitoring devices, leading to additional cost incurred.
Abbott, ARKRAY, Ascensia Diabetes Care, Danaher, F. Hoffmann -La Roche, and Johnson & Johnson