The Global Blood Glucose Monitoring Systems Market to Surpass Beyond $17 Billion by 2024
Bangalore, India, July 27, 2018: With its recently published study “Blood Glucose Monitoring Systems – Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024”, Infoholic Research forecasts that the global market for blood glucose monitoring systems will continue to grow, owing to the increasing incidence of diabetes, increasing product launch and approvals, huge surge in geriatric population, and increasing collaboration and funding to develop new devices.
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The market, by products, is segmented into self-monitoring blood glucose (SMBG) systems and continuous glucose monitoring (CGM) systems. The SMBG systems occupied a significant market share in 2017, and CGM systems are expected to grow at a high CAGR during the forecast period. Increasing adoption of minimally invasive procedures makes it the fastest growing segment during the forecast period.
North America is the major shareholder in the global blood glucose monitoring systems market, followed by Europe. The Asia Pacific region is expected to grow at a high CAGR during the forecast period due to an upsurge in access to health care services, increasing patient pool, raising awareness among patients, and growing healthcare expenditure. According to the Asian Diabetes Prevention Initiative, nearly 60% of the total diabetic population resides in Asia. It also estimates that 65.1 million adults in India and 113.9 million adults in China have diabetes.
Among the various applications of the blood glucose monitoring systems market, type 2 diabetes occupied a significant share in 2017 and is expected to remain the same for the next 5 years. Growing patient base for type 2 diabetes and increasing launch of the advanced product makes this segment to remain the largest during the forecast period.
“The blood glucose monitoring systems market is growing steadily with the highest attraction in the US, Europe, and emerging countries, especially China and India. The availability of advanced non-invasive glucose monitoring systems has enabled diabetes patients to switch from traditional monitoring devices. The increasing reimbursement facilities are likely to enhance the growth of the market in the coming years.” – Arpitha Shetty, Research Analyst, Infoholic Research
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Key insights of the report include:
- Self-monitoring Blood Glucose (SMBG) Systems
- Continuous Glucose Monitoring (CGM) Systems
- Type 1 Diabetes
- Type 2 Diabetes
- Gestational Diabetes
- Private Clinics
- North America
- Asia Pacific
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities