Blood Glucose Monitoring System Market by Product (Self-Monitoring, Continuous Glucose Monitoring Devices), Testing Site (Fingertip), Patient Care Setting (Hospital, Homecare), Application (Type 1, Type 2, Gestational Diabetes) - Global Forecast to 2022
“The blood glucose monitoring system market projected to grow at a CAGR of 4.8%.”
The global blood glucose monitoring system market is projected to reach USD 10.58 billion by 2022 from an estimated USD 8.35 billion in 2017, at a CAGR of 4.8% during the forecast period. The key factors driving the growth of this market include rising prevalence of diabetic population, and increasing product launches. However, the high cost and poor reimbursements is expected to restrain the growth of this market during the forecast period.
By patient care setting, the self/home care segment is expected to grow at the highest CAGR during the forecast period (2017–2022).”
Based on patient care setting, the market is segmented into self/home care and hospitals/clinics. The self/home care segment is expected to account for the largest share of the blood glucose monitoring system market. This can be attributed to high adoption of these devices for home use owing to technological advancements increasing their accuracy and patient comfort.
“By application, the type 1 diabetes segment is expected to grow at the highest CAGR during the forecast period (2017–2022).”
Based on application, the market is segmented into type 1 diabetes, type 2 diabetes, and gestational diabetes.
The type 1 diabetes segment is expected to grow at a highest CAGR owing to increasing product launches of continuous glucose monitors that are used for better management of type 1 diabetes.
“North America to witness the highest growth during the forecast period (2017-2022)”
North America is expected to witness the highest growth during 2017 to 2022. The highest growth rate of the North American market is attributed to rising prevalence of diabetes in the US and Canada, favorable reimbursements, awareness programs and rising FDA approvals in the US.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–50%, Tier 2–30% and Tier 3–20%
• By Designation – C-level–30%, Director Level–48%, Others–22%
• By Region – North America–48%, Europe–20%, Asia Pacific–25%, Row–7%
The key players in the global blood glucose monitoring system market are Roche (Switzerland), Abbott (US), LifeScan (US), Ascensia (Switzerland), Medtronic (Ireland), Dexcom (US), Ypsomed (Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and Nova Biomedical (US).`
The report analyzes the blood glucose monitoring system market and aims at estimating the market size and future growth potential of this market based on various segments such as product, testing site, patient care setting, application, and region. The report also includes competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use one or any combination of the below mentioned five strategies.
This report provides insights into the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the blood glucose monitoring system market. The report analyzes the market based on product, testing site, patient care setting, application
• Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the blood glucose monitoring system market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various blood glucose monitoring system across regions
• Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the blood glucose monitoring system market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the blood glucose monitoring system market