According to a new report published by Allied Market Research, titled, “Self-Monitoring Blood Glucose Devices Market: Global Opportunity Analysis and Industry Forecast, 2020โ2027” Blood glucose monitoring helps diabetic patients to make daily management decisions such as food intake, insulin dose, and physical exercise. Self-monitoring blood glucose (SMBG) is a modern diabetes management procedure, which involves usage of blood glucose meters by patients to check their glucose levels quickly and provide an accurate measure of capillary glucose concentration. SMBG technology uses test strips, lancets, and blood glucose meters to achieve long-term glycemic control.
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The self-monitoring blood glucose devices market is expected to witness a significant growth during the forecast period. The growth can be attributed to factors such as increase in incidence rate of diabetes and rise in risk factors that lead to diabetes. Moreover, technological advancements in the field of blood glucose monitoring devices and rise in geriatric population boost the self-monitoring blood glucose devices market growth. However, blood glucose monitoring devices do not measure the exact level of glucose in blood and can give inaccurate results, which hamper the market growth. Conversely, increase in awareness for diabetes monitoring devices is expected to provide significant opportunities for the growth of the market. Moreover, high growth potential in untapped markets for diabetes monitoring devices are expected to provide lucrative opportunities for the expansion of the global self-monitoring blood glucose devices market in the near future.
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The self-monitoring blood glucose devices market is segmented into product, application, end user, and region. Depending on product, the market is divided into test strips, lancets, and blood glucose meters. The applications covered in the study include 1 diabetes, type 2 diabetes, and gestational diabetes. On the basis of end user, the market is fragmented into hospitals, home settings, and diagnostic centers. Region wise, the self-monitoring blood glucose devices market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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- This report entails a detailed quantitative analysis of the current market trends from 2019 to 2027 to identify the prevailing opportunities.
- Self-monitoring blood glucose devices market size and market estimations are based on comprehensive analysis of the key developments in the industry.
- In-depth analysis based on region assists to understand the regional market and the strategic business planning.
- The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.
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Major players operating in the market include Abbott Laboratories, Bionime Corporation, B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd., LifeScan IP Holdings, LLC, PHC Holdings Corporation, Terumo Corporation, Trividia Health, Inc. (Sinocare Inc.), ARKRAY, Inc., and Ypsomed Holding AG.
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