Global Glucose Analyzer Devices Market – Industry Trends and Forecast to 2029

Glucose Analyzer Devices Market Analysis and Size

The rising prevalence of diabetes worldwide is predicted to cause the global market for glucose analyzer devices to expand significantly over the next few years. Diabetes affects millions of people all over the world. Heart attack, stroke, kidney failure, among other significant health issues, can be brought by an elevated blood glucose level. To prevent any health-related issues, diabetics must maintain a healthy blood glucose level. Therefore, glucose analyzer devices prove to help monitor diabetes. 

Data Bridge Market Research analyses that the glucose analyzer devices market which was USD 12.45 billion in 2021, would rocket up to USD 22.20 billion by 2029, and is expected to undergo a CAGR of 7.50% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Glucose Analyzer Devices Market Scope and Segmentation      

Market Definition

A glucose analyzer is made up of three parts: a recognition element that identifies the target molecules, a transducer element that measures the signal from the target molecules, and a processing system that reads the signal. Glucose analyzer devices are used to screen for and control diabetes, by monitoring blood glucose levels. In sports medicine, it is also used to screen for momentary high or low glucose levels.

Global Glucose Analyzer Devices Market Dynamics

Drivers

• Increased incidence of diabetes

The genetic inherence and environmental factors, number of people with diabetes is rapidly rising. Globally, the prevalence of diabetes is rising at an exponential rate as a result of changing lifestyles. For instance, 463 million individuals globally, between the ages of 20 and 79, were estimated to have diabetes in 2019, according to the International Diabetes Federation (IDF).

Growing westernisation in developing countries around the world has inadvertently led to a rapid decline in a healthy lifestyle due to the population's increasing preference for fast food. This shift to a sedentary lifestyle is causing an alarming rise in diabetes incidence. On the contrary, rising consumer health awareness and rising healthcare spending, as evidenced by a growing populace preference for self-medication and health monitoring, are propelling the glucose analyser devices market.

• Rising applications of the glucose analyzer

An increase in the application of the glucose analyzer has resulted in the expansion of the market. To meet the needs of the healthcare market and the users, businesses are working hard to extend their diagnostic product lines and increase R&D spending. The rise on packaged and processed foods, insufficient rest and exercise and the number of diabetic patients in the United States has increased. These factors have given businesses the chance to produce analyzers that can quickly measure blood glucose levels.

Opportunities

• Technological advancements in glucose analyzer devices

The millions of people who have diabetes must keep their blood sugar levels close to normal if they want to stop the progression of the disease's consequences. The glycohemoglobin (GHb) test is a vital instrument for keeping an eye on blood glucose levels. The results of a GHb analysis show how much glucose a patient's red blood cells were exposed to over the course of the preceding two to three months, enabling doctors to identify patterns and adjust therapy as necessary. In the United States, this test is commonly performed on blood samples that have been sent to a laboratory, with written results provided to the physician several days later. This will boost the market.

Restraints/Challenges

• High cost of device

The high cost of glucose analyzer devices is expected to hinder the growth of the market.

This glucose analyzer devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the glucose analyzer devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In August 2020, Cardinal Health launched its high-speed prescription filing solutions for a variety of pharmacies, hospitals, wholesalers, and central fill operations. The businesses provided automated systems that were rapid, dependable, automated, and small. This resulted in them improving their current pharmacy technology lineup. Additionally, this tactic assisted Cardinal Health in improving its market presence and growing its clientele.

Global Glucose Analyzer Devices Market Scope

The glucose analyzer devices market is segmented on the basis of product type, sample and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Handheld POC Glucose Analyzer
• Benchtop POC Glucose Analyzer

 Sample

• Blood
• Saliva

End User

• Hospitals
• Office Based Setting
• Home Care Setting
• Clinics
• Ambulatory Surgical Centers
• Others

Glucose Analyzer Devices Market Regional Analysis/Insights

The glucose analyzer devices market is analysed and market size insights and trends are provided by country, product type, sample and end user as referenced above.

The countries covered in the glucose analyzer devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the glucose analyzer devices market due to the rising prevalence of obesity, high cost of treatments, technological investments.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to a large number of underserved populations and low awareness regarding their disease status which leads to the growth of the market in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure growth Installed base and New Technology Penetration

The glucose analyzer devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for glucose analyzer devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the glucose analyzer devices market. The data is available for historic period 2010-2020.

Competitive Landscape and Glucose Analyzer Devices Market Share Analysis

The glucose analyzer devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to glucose analyzer devices market.

Some of the major players operating in the glucose analyzer devices market are:

• Cardinal Health (U.S.)
• Eurotrol B.V. (U.S.)
• Messe Düsseldorf GmbH (Germany)
• Abbott (U.S.)
• Siemens (Germany)
• McKesson Corporation (U.S.)
• i-SENS, Inc (South Korea)
• Bayer AG (Germany)
• ARKRAY, Inc (Japan)
• Dexcom, Inc. (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Johnson & Johnson Services, Inc (U.S.)

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