The global blood glucose meter market size is projected to reach USD 15,415.6 million by 2026, registering a CAGR of 9.6% during the forecast period. Rising prevalence of diabetes in the world is the factor dominating the blood glucose meter market trends. Diabetes is a metabolic disease in which the body is unable to properly process sugar into energy, leading to excess presence of glucose in the blood. The incidence rate of this disorder is on the rise worldwide.
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The International Diabetes Federation (IDF) estimates that around 425 million people are living with diabetes today; by 2045, this number is anticipated to increase to 628.6 million, a rise of 48% from current levels. Moreover, diabetes is the leading cause of neuropathy, kidney failure, amputations, and cardiovascular deaths. Therefore, people suffering from this chronic disease need to closely monitor their blood glucose levels as there are many associated disorders with this disease. As a result, the demand for blood glucose meters is expected to surge in the foreseeable future.
Fortune Business Insights covers some of the key players in this market include:
- Lifespan Inc.
- Hoffmann-Le Roche Ltd.
- Abbott
- Dexcom, Inc.
- Ascensia Diabetes Care Holdings AG
- Medtronic
- Sanofi
- Braun Melsungen AG
- Terumo Medical Corporation
According to the Fortune Business Insights report, titled “Blood Glucose Meter Market Size, Share and Industry Analysis by Product (Continuous Glucose Monitoring Devices, Self-Monitoring Blood Glucose (SMBG) Systems), By Technique (Invasive, Non-Invasive), By Type (Wearable, Non-Wearable), By Distribution Channel (Institutional Sales, Retail Sales, Others), and Regional Forecast 2019-2026”, the market value stood at USD 7,419.0 million in 2018.
Incorporated within the report is an exhaustive analysis of the various factors, upcoming trends, and regional and competitive dynamics that are likely to shape the market during the forecast period. The research shared in it is aimed at providing businesses with adequate information so as to enable to design their strategies to meet the market needs.
"Increasing Adoption of Self-Monitoring Glucose Meters to Favour Market Growth"
Self-monitoring glucose systems have a variety of advantages compared to conventional testing methods. For example, they are easy to use devices that the patient can use by herself to monitor her blood sugar levels. An up-to-date reading can enable the doctor to advise an appropriate diet regime. Furthermore, it can aid the doctor to determine how well the prescribed medication is working and if it needs to be changed in any way. A further advancement in blood glucose meter systems is the creation of Continuous Glucose Monitoring (CGM), used mainly by patients with type 2 diabetes as it enables multiple dosages of insulin in the body during a day. These developments are expected to significantly brighten the future prospects of the market.
"Growing Demand for Innovative Monitoring Devices to Propel the Market in North America"
Read More in this Press Release:
https://www.fortunebusinessinsights.com/press-release/blood-glucose-meters-market-9150
"Abbott Introduces Its Next-Gen Blood Glucose Monitor, Intensifies Competition"
Similarly, in June 2018, BioTel CareTM unveiled its futuristic wireless glucose meter that is capable of transmitting and consolidating real-time patient data on an FDA-controlled cloud system.
Read More Details Here:
https://www.fortunebusinessinsights.com/industry-reports/blood-glucose-meters-market-100770
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