Global Glucose Monitoring Devices Market By Product (Self-Monitoring Blood Glucose Devices, Continuous Glucose Monitoring Devices), End-users (Hospital and Clinics, Diagnostic Centers, Home Healthcare), Distribution Channels (Retail, Online), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Glucose Monitoring Devices Market
Global glucose monitoring devices market is registering a substantial CAGR of 7.81% in the forecast period of 2019-2026. This rise in the market can be attributed to the growing occurrence of diabetes, increasing awareness about the self-management of diabetes and quickly fluctuating regulatory policies and beneficial investment policies.
Market Definition: Global Glucose Monitoring Devices Market
The rise in the diabetes globally is driving the need for glucose monitoring. Glucose monitoring keeps track of the blood glucose levels and helps to make balance between food and exercise. It tracks and measures the glucose levels and the readings are derived into the data for keeping track and to take decisions regarding dosage, diet and exercise. Due to changing blood sugar levels it has become necessary to track it regularly. The glucose monitoring devices are available at the pharmacy stores and online stores. The device consist lancet to prick the figure a machine and bandages to stop the blood. It is widely being used in the hospitals as well as people use it at homes.
- Growing occurrence of diabetes is driving the growth of the market
- Increasing awareness about the self-management of diabetes is contributing to the growth of the market
- Quickly fluctuating regulatory policies and beneficial investment policies is boosting the growth of the market
- The amount of precision of the sample consequence, advice and medicine is driving the development of the industry
- Strict regulation of glucose monitoring devices by regulatory organizations, like FDA, is restricting the growth of the market
- High cost associated with the frequent blood glucose tests is hindering the growth of the market
- Rapid technological advancement in glucose monitoring devices is hampering the growth of the market
Segmentation: Global Glucose Monitoring Devices Market
- Self-Monitoring Blood Glucose Devices
- Glucose Strips
- Glucose Meter
- Continuous Glucose Monitoring Devices
- Hospital and Clinics
- Diagnostic Centers
- Home Healthcare
By Distribution Channels
- Specialty Stores
- Drug Stores/Pharmacies
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In May 2019, LifeScan declared that it has signed a contract with Sanvita Medical, LLC, to supply continuous glucose monitoring (CGM) devices. Throughout this partnership, the businesses intend to introduce CGM schemes in North America and pick nations in Europe as soon as a mid-next year and then spread to other economies around the globe.
- In January 2019, Eris Lifesciences and Medtronic Pvt. Ltd. revealed its partnership on Diabetes Monitoring Project in India. Both corporations will use their corresponding talents to help patients properly monitor their diabetes. Medtronic will take its recent authorized Guardian Connect tool to India to evaluate glucose variation in clients with diabetes in real-time.
Global glucose monitoring devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of glucose monitoring devices market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global glucose monitoring devices market are diamontech GmbH, 77 Elektronika Kft, Abbott, OrSense Ltd., GlySens Incorporated., Novo Nordisk India Pvt Ltd, Nemaura., PHC Holdings Corporation, TaiDoc Technology Corporation, Senseonics, Beurer, National Diagnostic Products., AgaMatrix, Dexcom, Inc., BIOPTIK LTD, ACON Laboratories, Inc., A. Menarini Diagnostics s.r.l, HemoCue AB, Integrity Applications., Ascensia Diabetes Care Holdings AG and others.
Research Methodology: Global Glucose Monitoring Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global glucose monitoring devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)