(PharmaNewsWire.Com, April 02, 2021 ) The growth of this market is majorly driven by factors such as rising prevalence of diabetic population, and increasing product launches.
[181 Pages Report] The global blood glucose monitoring system market was valued at USD 8.10 Billion in 2016 and is projected to reach USD 10.58 Billion by 2022, at a CAGR of 4.8% during the forecast period.
Rising prevalence of diabetic population, and increasing innovative product launches are factors driving the growth in the market.
Market Dynamics
1. Growing Prevalence of Diabetes
2. Increasing Number of Product Launches
Objectives of the Study
1. To define, describe, and forecast the global market by product, testing site, patient care setting, application, and region
2. To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
3. To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
4. To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
5. To forecast size of market segments with respect to the four main regions, namely, North America (US and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, Japan, India, and Rest of APAC), and the Rest of the World (Latin America and Middle East & Africa)
The market is segmented on the basis of product, testing site, patient care setting, application, and region. Based on product, the market is segmented into self-monitoring blood glucose systems and continuous glucose monitoring systems. The continuous glucose monitoring system segment is expected to grow at the highest CAGR during the forecast period. The high growth in the continuous glucose monitoring system segment can be primarily attributed to the rising adoption of minimally invasive procedures.
On the basis of testing site, the global market is segmented into fingertip testing and alternate site testing. The fingertip testing segment is expected to account for the largest of the global market and is expected to register the highest CAGR. This can be primarily attributed to the accuracy and high reliability of fingertip testing.
The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific
4. RoW
Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. Of these, the North American segment is expected to account for the largest share of the market in 2017. The large share of this region can primarily be attributed to the favorable reimbursements, awareness programs, rising FDA approvals in the US, and rising prevalence of diabetes in the US and Canada.
Some key players mentioned in the research report are:
The major players in the global blood glucose monitoring system market are Roche (Switzerland), Abbott (US), LifeScan (US), Ascensia (Switzerland), Medtronic (Ireland), Dexcom (US), Ypsomed (Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and Nova Biomedical (US).
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