Japan, Japan, Sat, 04 Dec 2021 00:38:52 / Comserve Inc. / -- According to IQ4I analysis, the Glucose Monitoring global market is expected to grow at a low single digit CAGR from 2020 to 2027 reach $15,321.8 million by 2027.
Glucose Monitoring consists of products that are essential for measuring glucose levels in diabetes patients. With the projected rise in the aged population and awareness about diabetes conditions, the market is focused on growing with newer technology and improved products. According to IQ4I analysis, the Glucose Monitoring global market is expected to grow at a low single digit CAGR from 2020 to 2027 reach $15,321.8 million by 2027.
Factors driving the Glucose Monitoring market are the global rise in the prevalence and incidence of diabetes, increasing demand for a less minimally invasive or non-invasive and point-of-care device; increasing R&D investments are driving the market growth, whereas, the growing diffusion of smart devices and digital platforms increasing compliance and management of diabetes is creating opportunities in the coming years. The high cost of the products, frequent product recalls and inadequate reimbursement is restraining the market growth. The stringent regulations, privacy concerns and safety issues are threats for the market growth.
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Glucose Monitoring global market is classified based on products, sample type, end-users and geography. The product segment is divided into three segments i.e., Invasive, Non-Invasive and lab-based glucose monitoring products. The Invasive glucose monitoring products segment accounted for the largest share in 2020 due to technological advancements, easy use, and patient-friendly nature of products. Invasive products are further divided into Self-monitoring blood glucose (SMBG) and continuous glucose monitoring (CGM) products. The self glucose monitoring segment accounted for the largest share in 2020 due to their relatively lower cost. The Self glucose monitoring products are further classified into blood glucose monitors, blood glucose test strips, lancets and others. The blood glucose testing strips segment accounted for the largest share in 2020 due development of no coding strips. The continuous glucose monitoring market includes sensors/receivers and transmitters. The continuous glucose market includes products sensors/receivers and transmitters. The continuous glucose segment is the fastest-growing segment and is projected to grow at a high single digit CAGR from 2020 to 2027.
Based on sample type the market is segmented into blood, urine and others. The blood segment accounted for the largest share in 2020 and is projected to grow at a low single CAGR from 2020 to 2027 due to the accuracy of results. Other source-based glucose monitoring segment is the fastest-growing segment and is projected to grow at a double digit CAGR from 2020 to 2027 due to increased R&D investment, many products are CE approved and expected to launch very soon in the market.
Based on end-users the market is segmented into hospitals, private clinics, home care and ambulatory settings. Among end-users, the home care segment accounted for the largest share in 2020 and is projected to grow at low single digit CAGR from 2020 to 2027 due to the availability of over the counter (OTC) self blood glucose monitor and ease in operating these monitors and thereby reducing the frequent visits to hospitals or clinics for checking glucose levels.
Based on geography the market is segmented into North America (U.S. and Rest of North America), Europe (Germany, France, Italy and Rest of E.U.), Asia-Pacific (Japan, China, India and Rest of APAC) and the Rest of the World (Brazil, Middle East & others and Rest of Latin America). North America accounts for the highest market share in 2020 followed by Europe. The steep rise in the aging population, advancement in technology, awareness of people about treatment options and favorable government policies are driving factors of the glucose monitoring market. However, Asian countries especially India and China are the fastest-growing regions with their growing demand for glucose monitoring products.
Major players in the Glucose monitoring market include Abbott Laboratories (U.S.), Dexcom (U.S.), Roche (Switzerland), LifeScan (U.S.), Medtronic, Inc. (Ireland), PHC Holding (Ascensia) (Japan), Arkray (Japan), Sinocare (China), B. Braun Melsungen AG (Germany), and i-Sens, Inc., (South Korea), etc.
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
o Rest of N.A.
o Rest of E.U.
o Rest of APAC
• Rest of the World (RoW)
o Rest of Latin America
o The Middle East & Others
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