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.
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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
- It will Takes less time
- It has low blood loss.
- 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
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.
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