Global Blood Glucose Monitoring Devices Market is expected to have a gaining popularity over the forecast period. The factors driving the market are increasing prevalence of diabetes, rise in geriatric population and, high awareness levels among healthcare professionals and patients. Introduction of technological advanced devices with increased speed efficiency and specificity are also estimated to boost the market over the decade. According to American Diabetes Association, in 2014, the rate of diabetes in U.S, tended to be highest among the people aged 65 years or older around 25.9% while in youth, it is around 0.25% in 20800 young people. The rate can increase to around 4.4% over the forecast period.
CDC supports many prevention programs in reducing the number of diabetes cases in the coming future. It includes National Diabetes Prevention Program - A public private partnership of organization to establish local evidence-based lifestyle change programs for those who are at high risk of diabetes. National Diabetes Education Program- works to reduce the burden of prediabetes and diabetes by adopting certain approaches for preventing the disease. Native Diabetes Wellness Program- supports community to promote health and prevent diabetes and many other. These help in increasing awareness among the people.
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With the advancement of technology, glucose monitoring has become very simple and convenient. The blood glucose monitoring devices market is moving towards minimal invasive techniques as they are less painful, takes less time and has low blood loss. An initiative has been taken to develop a new device for glucose monitoring using sweat or tears instead of blood to detect the glucose level in blood. The increase in usage of the devices has changed the lifestyle of the people.
A new hybrid glucose monitoring device has been approved in Europe. It is a wireless touchscreen color reader in which finger prick is not required. A new technology is going to come up with a touchscreen and modern meter having cloud connectivity named as “Livingo”. Abbott’s Freestyle Precision Neo, a slender meter using the strips. It is portable, affordable and easy to use
In February 2014, FDA approved the first continuous glucose monitoring system for children of age 2-17 years. Named as Dexcom G4 Platinum. Most of the devices includes finger prick test, but a new device was developed in which laser device is used. In 2004, Medtronic Inc. developed a continuous glucose monitoring device as “Guardian” approved by FDA. The new innovative devices and improved functional features will increase the demand for the glucose monitoring device
The blood glucose monitoring devices market is segmented on the basis of type of product which include blood glucose meter, blood glucose testing strips and Lancets. Blood glucose meter determines the imprecise concentration of blood glucose level. It is further segmented into traditional glucose meters and continuous glucose meters (assess blood glucose levels on a continuous basis). The efficiency and accuracy of the blood glucose monitoring devices and availability of them at nominal cost supports the market growth. Blood glucose testing strip type is one of the major segment among all the devices due to the affordable price, easy to use and easy availability in the market. In addition, the growing use of strips in institutions and home boost the sales of the device.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Blood Glucose Monitoring Devices in these regions, from 2012 to 2022 (forecast), covering
• North America
• Southeast Asia
Global Blood Glucose Monitoring Devices market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• BD Medical
• Roche Diagnostics
• Animas Technologies
• Bayer Healthcare
Geographically, the blood glucose monitoring devices market is segmented in North America, Europe, Asia Pacific and rest of the world. North America is expected to hold one of the largest market share owing to higher number of diabetic patients, increase in geriatric population, rise in healthcare expenditure, high healthcare infrastructure and active reimbursement policies. According to CDC data, 9.3% of the U.S population have diabetes, out of which 27.8% of diabetic people are undiagnosed.
Asia Pacific blood glucose monitoring devices market is estimated to have a lucrative growth over the forecast period. The rise in overall population growth, high disposable income and upcoming government initiatives are the factors supporting the market growth of the region. The key players of blood glucose monitoring devices market are Roche Diagnostics, Bayer Healthcare Division, Johnson & Johnson, Nipro Diagnostics, Medtronic Inc., Dexcom LifeScan, Abbott Laboratories, Home Diagnostics Inc., Arkray and AgaMatrix.
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