The primary factor fuelling the demand for the Global Blood Glucose Monitoring Devices market includes the increasing adoption of these devices for the treatment of diabetes across the globe. The significant rise in the diabetes patients will drive the demand for blood glucose monitoring devices over the coming years. Various manufacturers are mainly focusing on technological development in these devices to capture the changing demand of the target consumers. The continuous product development will boost the demand of the market.
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Based on the Product Type, the Blood glucose test strip segment is anticipated to lead the market during the forecast period owing to the technological advancement in the diabetes device industry across the globe. The increasing emphasis on research & development activities by the key market players is encouraging the emergence of advanced devices to meet the needs of the end-users.
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Based on the End-User, the homecare setting segment is expected to grow at a higher CAGR during the forecast period due to the increasing adoption of blood glucose monitoring devices among medical professionals and nurses across the globe. The growing incidence of diabetes diseases is promoting the end-users to opt for these devices for regular health monitoring.
Based on the region, Asia-Pacific is anticipated to lead the market during the forecast period owing to the reimbursement facilities, and the large presence of key manufacturers across the Asian countries. The increasing government and private funding across the developing economies to improve the healthcare infrastructure will further drive the demand of the market.
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The Global Blood Glucose Monitoring Devices market has been segmented based on product type, end user, and key geographies. Based on the product type, the market comprises of blood glucose test strip, lancing device, glucose meter and continuous glucose monitoring device. Based on the end-user, the market is segmented into homecare setting, hospitals and others (clinics, ambulatory surgical centres).
Various notable players operating in the market include Abbott Laboratories, ARKRAY, Inc, F. Hoffmann-La Roche Ltd, Terumo Corporation, Nipro Diagnostics, Medtronic, Becton, Dickinson and Company, Dexcom, Inc., Sanofi, among others.
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