The Glucose Monitoring Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Glucose Monitoring Devices Market is estimated to be $1.70 USD million and predicted to rise to $ 2.3 USD million with a CAGR of 6.24%. The market is segmented by Device Type (Continuous Wearable Devices (Sensors, Transmitters and Activators) and Self-Monitoring Devices (Blood Glucose Meters, Blood Glucose Strips, Lancets, and Hemoglobin A1C testing Kits)) by Application (Hospitals, Clinics and Diagnostic Centers, Home Setting and Ambulatory Settings). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Glucose monitoring devices market is driven by the increasing number of diabetic patients as a consequence of sedentary lifestyles. The other key drivers for the growth of this market are increasing the need for easy and efficient monitoring of blood glucose levels and the introduction of artificial pancreas. The restraints that typically govern this industry are stringent regulatory norms, insufficient reimbursement options, and a high surge in the price and cost of treatment.
Blood glucose monitors are holding major market globally due to its prominence and affordability among the emerging nations, technological advancements have led to the growth of Continuous Glucose Monitoring devices which is expected to grow faster in the future. Transmitters and receivers segment is estimated to lead the market, whereas the insulin pumps segment is anticipated to grow at the highest CAGR during the forecast period.
The North American glucose monitoring device accounts for the highest market value. However, it is estimated that the Asia-Pacific market will grow at the highest CAGR during the forecast period. India in the Asia-Pacific region is expected to witness the highest growth rate during the forecast period, due to the increasing prevalence of diabetes, lifestyle changes, and growing research on diabetes and its management.
The major companies dominating this market for its products, services, and continuous product developments are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc, AgaMatrix Inc, Arkray Inc, Medtronic, DexCom Inc, Nova Biomedical Corporation and Teruma Europe NV.
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