Self-Monitoring Blood Glucose Devices Market
Market Outline: Self-Monitoring Blood Glucose Devices Market
Diabetes mellitus refers to a group of diseases that affect how your body uses blood sugar (glucose). Glucose is vital to your health because it’s an important source of energy for the cells that make up your muscles and tissues. It’s also your brain’s main source of fuel. Diabetes is characterised by high level of glucose in self-monitoring blood glucose devices help patients and healthcare professionals to measure the blood glucose levels and help to take decisions on further treatment or maintenance.
Market Dynamics: Self-Monitoring Blood Glucose Devices Market
Self-monitoring blood glucose devices market is driven by high incidence of diabetes worldwide. According to WHO, prevalence of diabetes among adults over 18 years of age to have risen from 4.7% in 2012 to 8.5% by 2014. It also projects high blood glucose level and diabetes to be the 7th leading cause of death in 2030. In addition technological advancements in self-monitoring blood glucose devices such as evolution of continuous self-monitoring blood glucose devices are propelling the growth of self-monitoring blood glucose devices market. Furthermore increase in demand for portable self-glucose measuring devices, increase in R&D investment and government funding in prevention and treatment of diabetes are expected to bolster the self-monitoring blood glucose devices globally.
Market Scope: Self-Monitoring Blood Glucose Devices Market
The Self-Monitoring Blood Glucose Devices Market is classified on the basis of product, end user, geographical regions.
Based on Product, Self-Monitoring Blood Glucose Devices Market is segmented into
- Blood Glucose Meter
- Blood Glucose Testing Strips
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Based on End User, Self-Monitoring Blood Glucose Devices Market is segmented into
- Diagnostic Centers
Market Summary: Self-Monitoring Blood Glucose Devices Market
Self-monitoring blood glucose devices market has many market players and highly fragmented. Market players investing on product innovations to sustain their position in the market. In addition collaborations and acquisitions are key strategies used by market players to increase their market share. For instance, Abbott and Bigfoot Biomedical entered into an agreement to develop and commercialize diabetes management systems. As part of the agreement, Abbott will provide Bigfoot with the next generation of its FreeStyle Libre glucose sensing technology. Bigfoot will utilize this technology in the development of the first-ever personalized, user-friendly systems intended to optimize insulin delivery without the need for finger stick calibration of a glucose sensor. Companies launching innovative, and products with different features targeting patient safety and In August 2016, Roche launched of the Accu-Chek® Guide, the next-generation blood glucose monitoring system. This new system is designed to make everyday blood glucose (BG) monitoring easier with features such as the spill-resistant SmartPack test strip vial, which helps users to remove just one strip at a time and avoid spillage or contamination.
Regional Analysis: Self-Monitoring Blood Glucose Devices Market
Geographically Self-Monitoring Blood Glucose Devices Market is segmented as Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. North America expected to be major market for Self-monitoring blood glucose devices market and growing at significant rate during forecast period. Europe region projected to show notable growth rate owing to lifestyle changes and adaptability of home care diagnosis. Asia pacific region is expected to be grow at highest rate due to grow in awareness regarding diabetes consequences such as cardiac related diseases, government and non-government organization initiatives to spread awareness in early diagnosis of diabetes, lifestyle changes and availability of patient pool.
Market participants: Self-Monitoring Blood Glucose Devices Market
Some of the players in Self-Monitoring Blood Glucose Devices Market
- Abbott Laboratories (U.S.)
- ARKRAY, Inc. (Japan)
- Bayer AG (Germany)
- Dexcom, Inc. (U.S.)
- Hoffmann-La Roche Ltd (Switzerland)
- Johnson & Johnson (U.S.)
- Medtronic plc (U.S.)
- Nipro Diagnostics, Inc. (U.S.)
- Terumo Medical Corporation (U.S.)