Self-Monitoring Blood Glucose Devices Market (By Product: Continuous Glucose Monitors, Lancets, Self-monitoring Blood Glucose Meters, Testing Strips; By Application: Type 2 Diabetes, Type 1 Diabetes, Gestational Diabetes; By End-Use: Home Usage, Hospitals, Diagnostic Clinics & Centers) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

Introduction

According to Acumen Research and Consulting, The global self-monitoring blood glucose devices market size is expected to reach US$ 19 billion by 2026 and market is growing at a CAGR of 5 % from 2019 to 2026.

Diabetes is a clinical disorder in which the blood glucose level rises owing to the pancreas ' incapacity to generate insulin. Monitoring glucose is one of the most important measures in the leadership of diabetes. Blood glucose monitoring enables people to decide the consumption level of meals, insulin dosage and sort of physical exercise needed during the day. Self-monitoring blood glucose (SMBG) includes the use of blood glucose meters to control glucose levels and provide an exact measurement of capillary glucose levels. SMBG technology utilizes blood sugar meters, lancets and sample pads to accomplish more effective long-term glycemic control.

The report provides analysis of global Self-monitoring Blood Glucose Devices market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. 

Market Insights

Increased prevalence of diabetes in both advanced and developing nations will be the main driver during the forecast period of worldwide self-monitoring blood glucose machines (BGBs). According to the World Health Organisation, the global total diabetic population accounted for 422 million in 2014, with an increase of about 0.8 per cent in adults over 18 years of age since 1980. Type 2 diabetes is the most common form, followed by Type 1 diabetes and gestational diabetes in around 14% of all pregnancies throughout the USA. In addition, the danger of diabetes rises with era, obesity, carbohydrofood intake and heredity. Thus, the incidence of diabetes will increase rapidly as the frequency of associated risk factors increases, increasing self-monitoring blood glucose devices in the coming years.

Increasing consciousness of diabetes mellitus, its blood sugar leadership and regulate (BGL) in emerging countries will help SMBG market growth over the coming years. It is estimated that the presence of many mobile users in India together with a high population base with diabetes boosts the use of devices to monitor blood glucose levels. Likewise, several government awareness-raising initiatives, R&D investments for innovative technologies and diabetes subsidies will stimulate the implementation of blood glucose meters for the coming years. For example, Australia's National Diabetes Services Scheme offers subsidized blood-glucose test products, including strips, insulin pumps, needles and syringes, and aims to add more subsidised products to increase product demand.

Strict regulations concerning the development of advanced blood glucose surveillance devices may however limit product approvals and thus hinder growth on the market. Moreover, the elevated price of glucose monitors and related therapy equipment, which is not affordable for the developing country's inhabitants, can hamper company development over the evaluation era in self-monitoring blood glucose systems.

Product Stance

The test pads industry accounted for the biggest share of income of about 80% in 2018, with comparable trends expected in the prediction era. Test strips make up an important portion of the glucose meters. High acceptance and spending on diabetes test strips will thus enhance segmental development. For example, around 90% of people with diabetes in the UK use blood sugar meters with straps, with an expected expenditure of approximately 974 USD per year. In addition, advances in test strips like the Solo meter, comprising 4 leads on the test strips, helps to produce fast and precise sample results. This, combined with the availability of test strips at affordable costs, will boost the market growth of test strips during the projection period.

The industry of continuous glucose sensors (CGM) is estimated at a speed of over 5.5 percent CAGR over time. CGMs are usually used in patients requiring frequent surveillance of blood glucose. CGM schemes assist for up to 60 minutes forecast potential occurrences of hypoglycaemia or hyperglycaemia and provide clinically appropriate insulin models data. In geriatric or critical care clients, the advantages of ongoing insulin monitoring will stimulate segmental development over the coming years.

Application Stance

In 2018, the Type 2 diabetes industry accounted for a significant sale of more than USD 5 billion. The rapidly increasing prevalence of type 2 diabetes mellitus (T2DM) due to the increase in the incidence of obesity, unhealthy eating and lifestyles can be ascribed to high segmental proportions. The bulk of complete instances of disease are in the T2D-affected population. In 2018, Type 2 diabetes accounted for more than 90 per cent of all instances of obesity in the United States in the 2017 National Diabetes Statistics Report. Blood glucose self-monitoring is an essential component of the T2D therapy regimen. Therefore, an increasing incidence of obesity in combination with an increasing geriatric population and other threat variables will increase segmental development in coming years.

The gestational disease industry is forecast to be 4.6% CAGR in the United States. According to the American Diabetes Association, gestational diabetes incidence in the United States is about 1-14% out of all pregnancies and can contribute to additional problems. Self-monitoring of blood glucose in therapy approaches used during pregnancy is therefore regarded a superior strategy. As the frequency of birth increases, the demand for blood glucose self-monitoring in early testing and blood glucose control will increase during pregnancy over the estimate era.

End Use Stance

In 2018, the hospitals sector retained the world's biggest business volume with revenues worth USD 7.1 billion. Extending the necessity to monitor the danger of hypoglyceremia or hyperglycemia in patients for effective, accurate and on-going BGL surveillance in ICUs will increase demand for advancement of the glucose surveillance system in clinics. High levels of glucose may result in comorbidities and complications in critical care patients; continuous blood glucose monitoring is therefore needed in hospitalized patients. In addition, development in the segment will be stimulated by an extension of the healthcare environment across emerging nations, the increased amount of hospitalisations and the implementation of sophisticated disease monitoring and control systems.

During the prediction era, household environments are projected to be more than 5 percent CAGR owing to a increasing diabetic patient population. Advancing the provision of mobile, effective and easy-to-use tools for diabetes care goods in the future will boost segment development. The increase in people's choice for mobile and high-end technological products will increase SMBG devices ' acceptance in the home environment. In addition, blood sugar self surveillance at home enables decision-makers and analyzes the efficacy of the present leadership of diabetes. These variables will increase segmental development during the era of assessment.

Regional Stance

 

In 2018, the U.S. industry in self-monitoring blood glucose machines represented over 35 percent of the worldwide industry. The country's growing incidence of obesity will be the main driver in the coming years to stimulate general business development. In the diabetic population base the incidence of obesity caused by physical inactivity, unhealthy food consumption and other environmental variables increases further. In addition, increased preference for CGMs, increased knowledge of diabetes management among individuals and a stronger demand for sophisticated diabetes care goods will favorably affect the development of the US blood glucose self-monitoring sector in the foreseeable future.

The Indian market is projected to advance over the evaluation era at 7.2 percent CAGR. Increased diabetes incidence combined with an increased Geriatric population base that is prone to chronic diseases will have strong effects on sector growth. According to the World Health Organisation, around 7.7% of the entire woman population and over 7% of the entire male population in India in 2016 suffered from cancer. Moreover, the increasing implementation of homecare systems for self-management and control of cost-effective illnesses will push India to monitor the development of its company for blood glucose machines over the projected era.

Market Segmentation

Global Self-monitoring Blood Glucose Devices Market, by Product

  • Continuous Glucose Monitors
  • Lancets
  • Self-monitoring Blood Glucose Meters
  • Testing Strips

Global Self-monitoring Blood Glucose Devices Market, by Application

  • Type 2 Diabetes
  • Type 1 Diabetes
  • Gestational Diabetes

Global Self-monitoring Blood Glucose Devices Market, by End-use

  • Home Usage
  • Hospitals
  • Diagnostic Clinics & Centers

Global Self-monitoring Blood Glucose Devices Market, by Geography

  • North America.
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa (MEA)

The market research study on “Self-monitoring Blood Glucose Devices Market Size, Share & Trends Analysis Report By Product, Application, End Use, By Region - Global Industry Size, Share, Trends and Forecast 2019 - 2026” offers detailed insights on global Self-monitoring Blood Glucose Devices market segments with market dynamics and their impact. The report also covers basic technology development policies.

Key Players & Strategies

Among the main competitors Dexcom, Roche, Abbott Laboratories, Johnson & Johnson and Medtronic are among the most prominent competitors competing in the worldwide blood sugar monitoring industry. These companies ' key policies include purchases, merger, partnerships and brand developments & launch to consolidate their customer base and grow company globally.

In January 2019 Medtronic, in cooperation with Eris Lifesciences, announced the introduction of its first Smart Continuous Glucose Monitoring System (GCMS) in India. The implementation aims to achieve a bigger client base in India with its sophisticated technological tool.

In July 2018 Abbott was approved for the Libre Flash glucose surveillance scheme FreeStyle that makes the unit the most durable private insulin detector and is accessible prescribed for use. The endorsement will improve the company's brand base and achieve competitive edge.


Related Reports

Medical Nonwoven Disposables Market (By Product: Incontinence Hygiene Products, Surgical Non-woven Products; By Distribution Channel: Retail Pharmacies, Hospital Pharmacies, Online Platform) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

The global medical nonwoven disposables market is forecasted to grow at a CAGR of 6.6% over the forecast time frame and reach around US$ 26.1 billion by 2026. The report provides analysis of global medical non-woven disposables market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights Nonwovens are a unique category of textile product enginee

Plastic Surgery Instruments Market (By Type: Handheld Surgical Instruments, Electrosurgical Instruments; By Procedure: Face and Head Procedures, Breast Procedures, Body and Extremities Procedures, Reconstruction Surgeries) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global plastic surgery instruments market size is anticipated to reach around US$ 1.7 billion by 2026 and expected to grow at a CAGR of 8.5% from period 2019 to 2026. Plastic surgery involves the restoration, replacement, alteration and rehabilitation of body regions, such as the head, skin, musculoskeletal, breast and others. The two main kinds of plastic surgery are cosmetic and reconstructive. Cosmetic o

Upper Limb Prosthetics Market (By Component: Prosthetic Arm, Prosthetic Wrist, Prosthetic Shoulder, Prosthetic Elbow, Terminal Devices; By Product: Body Powered Prosthetic Devices, Passive Prosthetic Devices, Hybrid Prosthetic Devices, Myoelectric Prosthetic Devices; By Cause: Vascular Disease and Diabetes, Trauma, Cancer; By End Use: Ambulatory Surgical Centers, Hospitals, Prosthetic Clinics) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global upper limb prosthetics market size is expected to worth US$ 1.9 billion by 2026 and poised to grow at a CAGR around 10.5 % from period 2019 to 2026. The prothetics of the upper limbs have gone a long way from their ancient origins to advanced and advanced protheses of today's moments.  Today, the highest prothesis implants consist of aluminum, plastics and sophisticated composite components. The

MRI-Guided Neurosurgical Ablation Market (By Product: Accessories, MRI-guided Laser Ablation Systems, MRI-guided Focused Ultrasound Systems, MRI-guided Radiofrequency Ablation Systems; By End-use: Clinics, Ambulatory Surgical Centers, Hospitals) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

According to Acumen Research and Consulting, the global MRI-guided neurosurgical ablation market is forecasted to grow at a CAGR around 4.3% from period 2019 to 2026 and reach around US$ 5.4 billion by 2026. The report provides analysis of global MRI-guided Neurosurgical Ablation market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.  Market Insights An gr

Self-Monitoring Blood Glucose Devices Market (By Product: Continuous Glucose Monitors, Lancets, Self-monitoring Blood Glucose Meters, Testing Strips; By Application: Type 2 Diabetes, Type 1 Diabetes, Gestational Diabetes; By End-Use: Home Usage, Hospitals, Diagnostic Clinics & Centers) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

Introduction According to Acumen Research and Consulting, The global self-monitoring blood glucose devices market size is expected to reach US$ 19 billion by 2026 and market is growing at a CAGR of 5 % from 2019 to 2026. Diabetes is a clinical disorder in which the blood glucose level rises owing to the pancreas ' incapacity to generate insulin. Monitoring glucose is one of the most important measures in the leadership of diabetes

Ovarian Cancer Diagnostics Market (By Diagnosis Type: Imaging, Biopsy, Blood Test, Others; By Cancer Type: Germ Cell Tumor, Stromal Cell Tumor, Epithelial Tumor, Others; By End-Use: Cancer Diagnostic Centers, Hospital Laboratories, Research Institutes, Others) - Global Industry Size, Share, Trends and Forecast 2019 - 2026

Introduction  According to Acumen Research and Consulting, the global ovarian cancer diagnostics market is forecasted to grow at striking CAGR around 5.9 % over the forecast time frame and reach around US$ 1.8 billion by 2026. One of the most prevalent kinds of cancer in females is ovarian cancer. It is a cancer which begins in the ovaries. Ovary is a woman reproductive organ that contains eggs or ova. There are two ovaries i

Cart Summary