Blood Glucose Monitoring Market Overview:
A healthy body stays healthy due to all kinds of enzymes in the body being in proper balance. Excess of an enzyme can disturb balance while deficiency of another one can have the same effect. People who are suffering from genetic ailments like diabetes are more prone to such problems. Therefore, monitoring things like glucose in the blood is necessary for such people, and this is the reason for the global blood glucose monitoring market to take shape and grow. Blood glucose monitoring helps to recognize the glucose level of blood within the specified target range. The devices facilitating this monitoring provide useful insight to manage diabetes. These insights help to track the progress of treatment goal and observe the effect of medication on blood sugar level and understand how the ailment affects glucose level in blood.
Market Research Future (MRFR) has published a research report about the global blood glucose monitoring market size that predicts the market growth with 7.1 % CAGR (Compound Annual Growth Rate) between 2023 and 2030. Devices known as blood glucose meter are designed to apply to the different type of diabetes. According to this report, the market for these devices is growing due to developing technology for monitoring and diagnosis of diabetes, early detection of diabetes, increasing demand for continuous glucose monitoring devices, and increasing prevalence of diabetes.
Key Players
The key players in the global blood glucose monitoring market include Abbott Laboratories (USA), Arkay, Inc. (the USA), Bayer Healthcare AG (Germany), Dexcom, Inc. (the USA), GlySure Ltd (UK), Goldsite Diagnostics Inc. (China), F. Hoffmann-La Roche Ltd (Switzerland), LifeScan, Inc. (the USA), and Sphere Medical Holding PLC (UK).
Segmentations:
In this report, the global Blood Glucose Monitoring Market has been segmented on the basis of application, end user, product type, and lastly, region. On the basis of application, this market has been segmented into type 1 diabetes, type 2 diabetes, gestational diabetes, and others. The first two types of diabetes harm the body in the same way. The difference between the first two types of diabetes is regarding insulin. Patients suffering from type 1 diabetes do not produce insulin. On the other hand, patients with type 2 diabetes do not respond to insulin as well as they should and later in the disease often do not make enough insulin. Their body produces a little bit of insulin but fails to use it effectively. Gestational diabetes only happens during pregnancy. The patient gets high blood sugar levels during pregnancy, despite their levels being normal before pregnancy.
On the basis of product type, the market has been segmented into continuous glucose monitoring (CGM), invasive glucose monitoring (IGM), and flash glucose monitoring. CGM is defined as an advanced way for people living with diabetes to check glucose readings in real-time or monitor them over a period of time. IGM refers to the measurement of blood glucose levels (required by people with diabetes to prevent both acute and chronic complications from the disease) by taking their blood sample. Flash Glucose Monitoring is a small sensor that diabetes patient wears on the skin. This sensor stores the user's blood glucose (or blood sugar) levels continuously. The user can access them by scanning the sensor at his/her ease. Based on end users, the market has been segmented into clinics, diagnostic centers, home care diagnostics, hospitals, and research centers.
Regional Analysis:
The regional segmentation of global Blood Glucose Monitoring Market Growth segments the market into regions namely The Americas (North America & South America), Europe, Asia Pacific, and Middle East & Africa (MEA). The Americas command the largest market share due to the notable increasing incidence of obesity, physical inactivity, and unhealthy diet. With medical facilities being more advanced in North America, it is a bigger market than South America. In North America, the biggest markets comprise of the United States of America (USA) and Canada. Many key players in this market are based in the USA.
Due to reasons same as The Americas, in Europe, Western Europe is greater market than Eastern Europe. Europe is the second largest market for blood glucose monitoring, followed by the Asia Pacific in the global blood glucose monitoring market, owing to the environmental pollutants, psychosocial factors, smoking, and socioeconomic deprivation. Furthermore, government support via for research & development (R & D) regarding blood glucose monitoring boosts this market. The biggest markets in Europe, include France, Germany, Italy, Spain, and the United Kingdom (UK), followed by the rest of Europe.
In the Asia Pacific region, the market is growing rapidly due to high population and increasing number of diabetes patients. In this region, people are not as health conscious as they are in North America and Europe. Due to increasing demand for new treatment methods in countries like India and South Korea, Asia Pacific is likely to emerge as the fastest growing market across the globe during the forecast period. Apart from India and South Korea, the biggest markets in this region include Australia and Japan, followed by the rest of Asia Pacific.
In the MEA region, the market is small and limited due to little investment in healthcare and lack of awareness about health problems. In this region, the biggest market comprises of Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (UAE), followed by rest of MEA region.
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