Global Blood Glucose Monitoring System Market Set for a Positive Growth Forecast at CAGR of 4.8% till 2022
The key factors driving the expansion of this market embody rising prevalence of diabetic population, and increasing product launches. However, the high value and poor reimbursements is predicted to restrain the expansion of this market throughout the forecast amount. the global glucose monitoring system market is projected to achieveUSD 10.58 billion by 2022, at a CAGR of 4.8% throughout the forecast period.
BloodGlucoseMonitoringSystemMarket projected to grow at a CAGR of 4.8%
The global blood glucose monitoring system market is projected to reach USD 10.58 billion by 2022 from an estimated USD 8.35 billion in 2017, at aCAGR of 4.8% during the forecast period. The key factors driving the growth of this market include rising prevalence of diabetic population, and increasing product launches. However, the high cost and poor reimbursements is expected to restrain the growth of this market during the forecast period.
By patient care setting, the self/home care segment is expected to grow at the highest CAGR during the forecast period (2017–2022)
Based on patient care setting, the market is segmented into self/home care and hospitals/clinics. The self/home care segment is expected to account for the largest share of the blood glucose monitoring system market. This can be attributed to high adoption of these devices for home use owing to technological advancements increasing their accuracy and patient comfort.
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By application, the type 1 diabetes segment is expected to grow at the highest CAGR during the forecast period (2017–2022)
Based on application, the market is segmented into type 1 diabetes, type 2 diabetes, and gestational diabetes.
The type 1 diabetes segment is expected to grow at a highest CAGR owing to increasing product launches of continuous glucose monitors that are used for better management of type 1 diabetes.
North America to witness the highest growth during the forecast period (2017-2022)
North America is expected to witness the highest growth during 2017 to 2022. The highest growth rate of the North American market is attributed to rising prevalence of diabetes in the US and Canada, favorable reimbursements, awareness programs and rising FDA approvals in the US.
Break of primary participants was as mentioned below:
- By Company Type – Tier 1–50%, Tier 2–30% and Tier 3–20%
- By Designation – C-level–30%, Director Level–48%, Others–22%
- By Region – North America–48%, Europe–20%, Asia Pacific–25%, Row–7%
The key players in the global blood glucose monitoring system market are Roche (Switzerland), Abbott (US), LifeScan (US), Ascensia (Switzerland), Medtronic (Ireland), Dexcom (US), Ypsomed (Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and Nova Biomedical (US).
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