According to the new market research study by Technavio, the global blood glucose monitoring devices market is predicted to grow at a CAGR of close to 12% during the estimated period 2017 to 2021.
This report by Technavio offers an in-depth analysis of the global blood glucose monitoring devices market regarding revenue and emergent market trends. The report also includes a latest analysis and forecasts for numerous market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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Global lancets market: The growing use of lancets at home, apart from hospitals and diagnostic centers, by patients to monitor blood glucose levels will drive the growth of this market segment. The increasing accessibility of these products in the global market due to decreasing prices with the involvement of government in controlling the prices will make this the fastest growing segment in the global market. The vendors in the market are introducing products with innovative designs that meet consumer requirements to sustain the competition in the market.
“The use of advanced designs like 33G and tri-bevel lancets will increase consumers’ comfort in using the lancets and increase the adoption of these products in the global market. The manufacturers are focusing on designing lancets that are compatible with multiple lancing devices fueling the growth of this market segment,” says Srinivas Sashidhar, a lead analyst at Technavio for research on patient monitoring devices.
Global SMBG market: The availability of innovative and advanced SMBG devices that are safe, portable, accurate, and operate with low power consumption will help this segment lead the market during the forecast period. The prevalent growth of POC testing instruments and the emergence of new technologies in diagnostics devices will help boost the adoption of these devices in the global market. The introduction of non-invasive devices using ultrasound technology will help revolutionize the market over the next few years.
Global CGM market: The rise in diabetic patients across the world and especially in the APAC region will fuel the growth of this market segment. The vendors are introducing CGM devices integrated with insulin pumps using transmitters, receivers, and glucose sensors, which will increase the adoption of these devices in the global market. This machine helps users keep track of their daily glucose levels and assists patients to stay healthy and avoid hypoglycemia and hyperglycemia.
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The primary vendors operating in the global blood glucose monitoring devices market are:
- Abbott Laboratories
- Roche Diagnostics
- LifeScan
- Medtronic
The other prominent vendors in the market include AgaMatrix, Animas, Becton Dickinson, Bioptik Technology, DarioHealth, Dexcom, GlySens, Integrity Applications, International Biomedical, Medisana, MediWise, Menarini Diagnosticos, Nemaura, Nipro Diagnostics, Nova Biomedical. Owen Mumford, Senseonics, and TaiDoc Technology.
A more detailed analysis is accessible in the Technavio report titled, ‘Global Blood Glucose Monitoring Devices Market 2017-2021’. Technavio also customizes reports by other regions and specific sections upon request.
Other related reports:
- Global Patient Monitoring Equipment Market 2017-2021
- Global Home-care Monitoring and Diagnostics Market 2016-2020
- Global Self-care Medical Devices Market 2016-2020
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