Global Blood Glucose Monitoring System Market

Blood Glucose Monitoring System Market: Overview

According to Custom Market Insights (CMI), The Global Blood Glucose Monitoring System Market  has projected a growth Of USD 15.94 billion by 2021 and is expected to reach USD 18.11 billion in 2022 and is expected to reach USD 31.34 billion by the end of 2030 at a compound annual growth rate of 10.1%.

The increasing cases of patients who have diabetes have boosted the market for glucose monitoring systems. The rapidly increasing prevalence of type 2 diabetes has helped the market for insulin grow greatly. This has to be supported by the blood glucose monitoring system, which becomes an essential factor in checking glucose levels before administering insulin. Constant monitoring is required in patients with critical conditions who are on anti diabetic medicines. The huge client base in the market suffering from diabetes and other blood glucose related disorders has considerably boosted the markets size.

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Blood Glucose Monitoring System Market: Growth Drivers

The huge number of patients available in the market due to the increasing prevalence of cholesterol and obesity has helped the market record considerable revenue, and hes foreseen to continue similarly during the forecast period as well. The increasing demand for advanced technologies and efficient monitoring systems to manage patients blood glucose levels has helped the blood glucose monitoring system market record considerable revenue.

Key market players are investing in extensive research and development programs to introduce cheaper options for monitoring blood glucose. Faulty lifestyle practices followed by the people and increasing stress resulting from busy lifestyle practices and improper work life balance have greatly boosted the market size. These reasons emerge as the driving forces for the blood glucose monitoring system market during the forecast period.

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Blood Glucose Monitoring System Market: Regional Analysis

The region of North America has emerged as the largest market for blood glucose monitoring systems owing to the huge number of people suffering from blood glucose disorders and diabetes due to the rapid changes in lifestyle due to the increasing stress and workload on the people.

A huge number of people belonging to the geriatric population reside in this region who suffer from diabetes as a common disorder and need constant monitoring to administer the required dosage of medicines and insulin. It becomes impossible for these people to visit the healthcare sector, so a portable blood glucose monitoring system becomes an essential factor for them.

The people belonging to the European nations also have a huge tendency to suffer from diabetes owing to faulty lifestyle practices and increasing amounts of fast food among youngsters, which behave as a major factor for the causation of diabetes and hence the requirement for blood glucose monitoring systems has increased. The advanced healthcare facilities the government provides have also boosted the need for constant blood glucose monitoring systems in the market.

The Asia Pacific region has emerged as the next largest market, with a huge client base suffering from diabetes. Rapidly emerging healthcare sectors and developing economy has boosted the disposable income available to the people. Rapidly increasing awareness among the people regarding advanced technologies available in the market to manage their blood glucose levels has boosted the demand for blood glucose monitoring systems.

Blood Glucose Monitoring System Market: Recent Developments

• In March 2021 Accu check was introduced by F Hoffmann la Roche with a view to monitor blood glucose levels instantly which will be directly connected to an app known as mySugr.

Key Players:

• Abbott Laboratories
• Medtronic plc
• Hoffmann La Roche Ltd.
• Ascensia Diabetes Care
• Dexcom Inc.
• Sanofi
• Novo Nordisk
• Insulet Corporation
• Ypsomed Holdings
• Glysens Incorporated

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The global Blood Glucose Monitoring System market is segmented as follows:

By Device

• Self monitoring blood glucose system
• Continuous glucose monitoring system

By Modality

• Non wearable
• Wearable

By Type

• Invasive
• Non invasive

By Patient Type

• Type 1 diabetes
• Type 2 diabetes

By Distribution Channel

• Retail sales
• Institutional sales

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America

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