Global Self-Monitoring of Blood Glucose (SMBG) Market, By Product (Test Strips, Lancets, Blood Glucose Meters, Self-monitoring Blood Glucose Meters, Continuous Glucose Monitors), Applications (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), End User (Hospitals, Home Settings, and Diagnostic Centres), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Global Self-Monitoring of Blood Glucose (SMBG) Market
Global self-monitoring of blood glucose (SMBG) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account from USD 16,825.05 million in 2020 to USD 26,574.66 million by 2028 growing at a CAGR of 5.23% in the above-mentioned forecast period.
The self-monitoring of blood glucose (SMBG) is a procedure under which individuals with diabetes measure their blood sugar by themselves using a tool known as glycaemic reader. On the basis of readings, one can adjust or check the effect of their treatment, antidiabetics and stress management, daily management decisions such as diet intake, insulin dose and physical exercise among others. The process involves use of test strips, lancets and blood glucose meters to achieve long-term glycaemic control.
The rise in geriatric population and high prevalence of diabetes and the rise in risk factors that lead to diabetes are prime factors driving the growth of the self-monitoring of blood glucose (SMBG) market. Additionally, government initiatives for increasing awareness among people also boosts growth of the market. On the other hand, the fact that the device does not measure the exact level of glucose in blood, the possibility of inaccurate results and lack of reimbursement and stringent regulations for the devices might restrain the overall growth of the market. The untapped potential of emerging markets and the surging awareness about diabetes monitoring devices is estimated to generate new opportunities within the forecast period. However, the factor such as the lack of awareness among patients and high cost of advanced devices and accessories are projected to be major challenge for the market’s growth.
This self-monitoring of blood glucose (SMBG) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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 Data Bridge Market Research self-monitoring of blood glucose (SMBG) market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Self-Monitoring of Blood Glucose (SMBG) Market Scope and Market Size
Self-monitoring of blood glucose (SMBG) market is segmented on the basis of product, applications and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the self-monitoring of blood glucose (SMBG) market is bifurcated into test strips, lancets, blood glucose meters, self-monitoring blood glucose meters and continuous glucose monitors.
- On the basis of applications, the self-monitoring of blood glucose (SMBG) market is segmented into type 1 diabetes, type 2 diabetes and gestational diabetes.
- On the basis of end user, the self-monitoring of blood glucose (SMBG) market is segmented into hospitals, home settings, and diagnostic centres.
Self-Monitoring of Blood Glucose (SMBG) Market Country Level Analysis
Self-monitoring of blood glucose (SMBG) market is analysed and market size insights and trends are provided by product, applications and end user as referenced above.
The countries covered in the self-monitoring of blood glucose (SMBG) 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 self-monitoring of blood glucose (SMBG) market due to increase in population with diabetes, new product launches through innovation and advancement in medical treatment procedures in the region. Asia-Pacific is expected to grow at the fastest rate in the forecast period of 2021 to 2028 due to the growing demand for minimal invasive treatment procedure.
The country section of the self-monitoring of blood glucose (SMBG) market 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 such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, 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
Self-monitoring of blood glucose (SMBG) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for self-monitoring of blood glucose (SMBG) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the self-monitoring of blood glucose (SMBG) market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Self-Monitoring of Blood Glucose (SMBG) Market Share Analysis
Self-monitoring of blood glucose (SMBG) 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 self-monitoring of blood glucose (SMBG) market.
The major players covered in the self-monitoring of blood glucose (SMBG) market report are B. Braun Melsungen AG, Bionime Corporation, F. Hoffmann-La Roche Ltd, Medtronic, Bayer AG, Abbott, LifeScan IP Holdings, LLC, AgaMatrix, 77 Elektronika Kft, Trividia Health Inc., Dexcom Inc., Ascensia Diabetes Care Holdings AG, EDAN Instruments, Inc., Yu Yue medical, Merck KGaA, Abbott, Johnson & Johnson Private Limited, BD, Terumo Corporation, PHC Holdings Corporation, Trividia Health, Inc., among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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