Blood Glucose Meters Market Rising in United States | Fortune Business Insights
The global blood glucose meters market is likely to expand considerably in the coming years due to advent of non-invasive devices. According to a report published by Fortune Business Insights, titled “Blood Glucose Meters: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 7,419.0 Mn in 2018. Fortune Business Insights states that this market is likely to reach US$ 15,415.6 Mn by 2026, thereby exhibiting a CAGR of 9.6%.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/sample/blood-glucose-meters-market-100770
In
this report, Fortune Business Insights has indicated that the market will grow
in the near future due to the increasing demand and the subsequently rising
uptake of blood glucose meters. Increasing incidence of diabetes has been a
leading factor that is responsible for the surge in demand of blood glucose
meters. According to the International Diabetes Federation (IDF), in 2017,
around 425 million people suffered from diabetes, worldwide. Furthermore, it
also states that this number is likely to reach 629 million by the year 2045.
High prevalence of diabetes, combined with the accuracy of digital blood
glucose meters in detecting blood pressure and sugar levels are driving the
global blood glucose meters market.
Demand for Continuous Glucose Monitoring Systems
Expected to Rise Considerably in Future
Among product types
available in the market, self-monitoring blood glucose systems accounted for
the dominant share in the market in 2018. However, in the coming years, the
demand for continuous glucose monitoring systems is expected to rise at an
increased pace. Technological advancements have led to the advent of continuous
glucose monitoring device wherein a sensor is implanted under the skin, to
monitor blood sugar levels for a specific amount of time.
The use of
continuous glucose monitoring (CGM) device is inclined towards patients with
type 2 diabetes that are exposed to multiple insulin doses in a single day.
Although self-monitoring blood glucose systems have accounted for the major
share of the global blood glucose meters market, the demand for continuous
glucose meters is expected to be more.
Increasing Incidence of Diabetes to Boost
the Market in North America
The high prevalence
of diabetes in North America has led to an increase in demand for blood glucose
meters in this region. As of 2018, North America dominates the global blood
glucose meters market. Increasing demand of blood glucose meters has resulted
from the rising incidence of diabetes. A huge patient pool drives the blood
glucose meters market in North America. As of 2018, the blood glucose meters
market in North America was valued at US$ 3012.6 Mn.
Fortune Business
Insights has predicted that this region will dominate the global market
throughout the forecast period. Growing penetration of non-invasive blood
glucose meters in Asia Pacific is favouring the growth of the regional market
with a higher pace.
Furthermore,
increased per capita healthcare spending will boost the blood glucose meters
market in Asia Pacific. Fortune Business Insights has predicted that the market
in Asia Pacific will rise with the highest CAGR during the forecast period.
Speak
To Our Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/blood-glucose-meters-market-100770
Launch of DiaMonTech’s IR-based Blood Glucose
Meter to Spur Growth Opportunities
Conventional
blood glucose meters involved the need for invasive techniques for diagnosis.
The most commonly used methods involved taking blood samples with the help of
needle pricks in fingers. The needle prick method was painful for many users
and it caused discomfort to some. Therefore, there has been a constant need for
an alternative to the invasive devices for continuous glucose monitoring. In
2018, DiaMonTech announced the launch of a compact blood glucose meter. The
device performed on an infra-red technology that is used to count the glucose
molecules. This product is likely to transform existing blood glucose
monitoring techniques and is likely to witness high demand from around the
world. The advent of non-invasive devices is likely to induce growth in the
global blood glucose meters market.
Related Topics :
About Us:
Fortune Business Insights™ delivers accurate data and innovative
corporate analysis, helping organizations of all sizes make appropriate
decisions. We tailor novel solutions for our clients, assisting them to address
various challenges distinct to their businesses. Our aim is to empower them
with holistic market intelligence, providing a granular overview of the market
they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Comments
Post a Comment