Austin, TX, USA, July 24, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Blood Glucose Monitoring System Market Size, Trends and Insights 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), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” in its research database.
“According to the latest research study, the demand for global Blood Glucose Monitoring System Market size & share was valued at approximately USD 15.94 Billion in 2021 and is expected to reach USD 18.11 Billion in 2022 and is expected to reach a value of around USD 31.34 Billion by 2030, at a compound annual growth rate (CAGR) of about 10.1% during the forecast period 2022 to 2030.”
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Market Overview:
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 market’s size.
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Market Dynamics
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 he’s 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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Restraints
The high cost associated with using advanced equipment and medical facilities has proved to be a restraining factor for the market’s growth. Lack of awareness and slow penetration of modern devices and technologies into the market has proven to be major obstacles to the market’s growth. The lack of disposable income available to the people after the outbreak of the pandemic has greatly hindered the market’s growth. As the constant blood glucose monitoring systems are costlier, they cannot be used by the common people and find their place mainly in the hospital sector. Negligence on the patient’s part also hampers the market’s growth to a great extent.
(A free sample of the Blood Glucose Monitoring System report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
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- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated.
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Blood Glucose Monitoring System report has been modified to include the COVID-19 impact study prior to delivery.)
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Opportunities
Key market players are introducing advanced medical equipment for managing blood glucose levels to boost the demanding supply chain. Initiatives taken by the government to support the healthcare sector by providing advanced facilities to the people have also helped the market put a quarter of considerable revenue during the forecast period. .
The market finds a great opportunity in reimbursement facilities provided by health insurance companies to manage blood glucose levels by utilizing advanced equipment. Increasing awareness among the people regarding the availability of advanced equipment and monitoring systems that help evaluate the patient’s condition has emerged as a major opportunity for the growth of the blood glucose monitoring system market.
Challenges
The high cost associated with the use of advanced equipment, which helped monitor blood glucose, has greatly hindered the glowing growth of the market to a great extent. The availability of cheaper options in the market produced by local players has hindered the growth of quality products. Lack of awareness and penetration of newly introduced systems in the market has hindered the growth to a great extent. Fluctuating policies followed by insurance companies regarding reimbursement facilities also hinder market growth.
Report Highlights
Based on device type, continuous glucose monitoring systems have emerged as a leading segment due to the huge demand from the healthcare industry. Based on modality, the segment of wearable devices has dominated the market. Based on patient type, Type 2 diabetes has emerged to be in a dominant position. The invasive device has emerged as the leading position due to its extensive demand in the healthcare sector. On the bus of distribution channels, the retail sales market has emerged as the leading market player due to the availability of a huge client base. On pistol geography, the region of North America has dominated the segment.
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Key questions answered in this report:
- What is the size of the Blood Glucose Monitoring System market and what is its expected growth rate?
- What are the primary driving factors that push the Blood Glucose Monitoring System market forward?
- What are the Blood Glucose Monitoring System Industry's top companies?
- What are the different categories that the Blood Glucose Monitoring System Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Blood Glucose Monitoring System market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2022−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Snapshots
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 people regarding advanced technologies available in the market to manage their blood glucose levels has boosted the demand for blood glucose monitoring systems.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 15.94 Billion) |
| Projected Market Size in 2030 | USD 31.34 Billion |
| CAGR Growth Rate | 10.1% CAGR (2022-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Prominent Players | Abbott Laboratories, Medtronic plc, F. Hoffmann-La Roche Ltd., Ascensia Diabetes Care, Dexcom, Inc., Sanofi, Novo Nordisk, Insulet Corporation, Ypsomed Holdings, Glysens Incorporated, and Others |
| Key Segment | By Device, Modality, Type, Patient Type, Distribution Channel, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
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Browse the full “Blood Glucose Monitoring System Market Size, Trends and Insights 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), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” Report at https://www.custommarketinsights.com/report/blood-glucose-monitoring/
Key Players
- Abbott Laboratories
- Medtronic plc
- Hoffmann-La Roche Ltd.
- Ascensia Diabetes Care
- Dexcom, Inc.
- Sanofi
- Novo Nordisk
- Insulet Corporation
- Ypsomed Holdings
- Glysens Incorporated
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.
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Segments covered in the report
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
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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
This Blood Glucose Monitoring System Market Research/Analysis Report Contains Answers to the following Questions.
- Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Blood Glucose Monitoring System Market? What are Their Company Profile, Product Information, and Contact Information?
- What Was the Global Market Status of the Blood Glucose Monitoring System Market? What Was the Capacity, Production Value, Cost and PROFIT of the Blood Glucose Monitoring System Market?
- What Is the Current Market Status of the Blood Glucose Monitoring System Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Blood Glucose Monitoring System Market by Considering Applications and Types?
- What Are Projections of the Global Blood Glucose Monitoring System Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Blood Glucose Monitoring System Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is the Economic Impact On Blood Glucose Monitoring System Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of Blood Glucose Monitoring System Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Blood Glucose Monitoring System Industry?
Click Here to Access a Free Sample Report of the Global Blood Glucose Monitoring System Market @ https://www.custommarketinsights.com/report/blood-glucose-monitoring/
Reasons to Purchase Blood Glucose Monitoring System Market Report
- Blood Glucose Monitoring System Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
- Blood Glucose Monitoring System Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Blood Glucose Monitoring System Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Blood Glucose Monitoring System Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
- The study provides a thorough overview of the global Blood Glucose Monitoring System market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Blood Glucose Monitoring System market analysis.
- The competitive environment of current and potential participants in the Blood Glucose Monitoring System market is covered in the report, as well as those companies' strategic product development ambitions.
- According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
- Participants and stakeholders worldwide Blood Glucose Monitoring System market should find this report useful. The research will be useful to all market participants in the Blood Glucose Monitoring System industry.
- Managers in the Blood Glucose Monitoring System sector are interested in publishing up-to-date and projected data about the worldwide Blood Glucose Monitoring System market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Blood Glucose Monitoring System products' market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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