Glucose Monitoring Devices Market would rise to USD 24.40 billion by 2030
Global Glucose Monitoring Devices Market report assists in identifying new market opportunities for existing and new products. It provides information on market share, nature of competition, customer satisfaction levels, sales performances and channel of distribution. All these elements help the firm in solving problems. When it comes to predicting consumer needs or conducting market segmentation in such wide markets, market research report does a great job.
Global Glucose Monitoring Devices Market research report is useful in collecting information on consumers from structured distribution research and helps in making marketing customer oriented. By using promotional research to study media mix, advertising effectiveness, and integrated communication tools the report has been generated. Such market insights help in promoting effectively a company’s product in the market. Market report helps to comprehend the demands of customers, detect more business opportunities, plan the perfect marketing campaign, minimize losses, and keep track of the competition. Global Glucose Monitoring Devices Market report allows organizations to classify their objectives while following the current trends and take advantage by reaching out to their target audience.
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Diabetes is a growing problem worldwide. Awareness associated with the benefits of blood glucose monitoring devices increased among consumers in the recent years due to the increasing prevalence of diabetes. During the pandemic, there had been a huge trend of virtual clinics and telemedicine for different diseases which includes diabetic management as well. The hospital segment held the largest share in the end-user segment of the global glucose monitoring devices market as several patients are admitted due to the severe diabetes issues and other associated concomitant diseases.
Data Bridge Market Research analyses that the global glucose monitoring devices market, which was USD 12.7 billion in 2022, would rise to USD 24.40 billion by 2030 and is expected to undergo a CAGR of 8.5% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Glucose monitoring devices are used to detect the sugar level in the blood and are of numerous types, such as glucose meters, testing strips, and lancets. These devices provide the facility of self-testing by using a single glucose meter and different strips. These devices allow patients and clinicians to identify high or low blood glucose levels. It also allows for therapy modifications and protecting patients by promptly confirming acute hypoglycemia or hyperglycemia and offering patients greater self-care.
Drivers
- Increasing Prevalence of Diabetes
The growing prevalence of diabetes is likely to contribute to this market’s growth during the forecast period 2023-2030. According to the International Diabetes Federation Report for 2017, about 66.0 million people worldwide had diabetes, which is expected to rise to 81.0 million by 2045. In North America, it has been observed that there are more than 29 million diabetic patients, and this number is expected to increase to 34 million by 2027. This increasing prevalence leads to the higher adoption of glucose monitoring devices.
- Growth in Obesity Rates
Obesity is one of the leading causes of diabetes in the general population. As per the records of WHO, about 50% of the global population was overweight in 2014, with more than 20% of the population obese. Obesity is more incident in men. Several risk factors, such as the increasing occurrence of obesity, are directly related to the increasing incidence of diabetes. Therefore, the number of glucose monitoring devices is also increasing. Thus, this factor boosts market growth.
Recent Developments
- In 2022, DexCom announced the launch of a CE Mark for its G7 CGM system in Europe, intended for people who have diabetes and are two years and older, which includes pregnant women. With this approval, the world’s popular and best-selling real-time CGM is now more powerful and easier to use with a small, all-in-one wearable and completely redesigned mobile app.
Some of the major players operating in the glucose monitoring devices market are:
- DiaMonTech AG (Germany)
- Abbott (U.S.)
- GlySens Incorporated (U.S.)
- Novo Nordisk A/S (Denmark)
- Nemaura (U.S.)
- PHC Holdings Corporation (Japan)
- TaiDoc Technology Corporation (Taiwan)
- AgaMatrix (U.S.)
- Dexcom, Inc. (U.S.).
- ACON Laboratories, Inc.(U.S.).
- Ascensia Diabetes Care Holdings AG (Switzerland)
- Bayer AG (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Insulet Corporation (U.S.)
- Ypsomed AG (Switzerland)
- GlySens Incorporated (U.S.)
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Glucose Monitoring Devices Market Scope
Product Type
- Self-Monitoring Blood Glucose Devices
- Glucose strips
- Glucose meter
- Lancets
- Continuous Glucose Monitoring Devices
Distribution Channel
- Retail
- Specialty Stores
- Drug Stores/Pharmacies
- Online
End User
- Hospital
- Clinics
- Diagnostic Centers
- Home Healthcare
- Others
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the this research report
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
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Some of the Most Important Questions Scrutinized in the Business Intelligence Report:
- What are the key growth parameters for this global market during the forecast period?
- Which key players are expected to hold the largest market share over the forecast period?
- Who are the leading vendors and manufacturers in this market?
- What are the key strategies adopted by leading players in the market for business development and geographical expansion?
- Which end-use industries can trigger high demand in the market over the forecast period?
- What are the key segments in this market?
- Which regional player will have anticipated leading the global market in terms of size?
- What is the impact of the novel coronavirus pandemic?
- Which obstacles must new players overcome in order to occupy a major position?
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