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Self-Monitoring Blood Glucose Devices Market 2020 By Revenue, Top Trend & Regional Growth Forecast

Author : Ronak Bora | Published Date : 2020-09-11 

Self-monitoring Blood Glucose Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

A rise in diabetically affected population and obese people is driving worldwide self-monitoring blood glucose (SMBG) devices market trends, along with increasing risk factors concerning diabetes with adoptions of unhealthy dietary habits. Additionally, numerous initiatives are undertaken by governments to promote awareness about diabetes, monitoring and implementing activities to offer favorable products at convenient costs.

Constant experiments and advancements in diabetes care products will further aid SMBG devices development. SMBG adoption can be negatively impacted in the coming years owing to factors such as lack of proper reimbursement schemes, restrained cost of innovative monitoring devices, various stringent regulations for some glucose monitoring products.

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Estimates suggest that global self-monitoring blood glucose devices market size will reach an annual valuation of over US$21 billion by 2025.

The past several decades have witnessed a substantial rise in the prevalence of type 1 diabetes. The American Diabetes Association reports that type 1 diabetes mellitus affects more than 1.25 million Americans annually, while approximately 38,000 people across the country are projected to be diagnosed with type 1 diabetes each year.

Numerous countries have launched different initiatives and programs to spread awareness about type 1 diabetes. In 2018, type 1 diabetes application segment was estimated to be worth more than US$731.1 million.

An exponential rise in the occurrence of type 2 diabetes in recent years has propelled the need for home healthcare devices, including continuous glucose monitors (CGM). The need for continuous glucose monitoring is high among diabetes patients and elderly people who are likely to suffer from multiple chronic health problems.

Continuous glucose monitors offer real-time monitoring of blood glucose levels (BGL), a vital parameter in diabetes and heart patients. CGM devices market is projected to witness a 5.8% CAGR through 2025.

In terms of the regional landscape, U.S. SMBG devices market size is poised to grow at a CAGR of 4.5% through 2025. Numerous efforts have been taken by the government as well as welfare organizations like the American Diabetes Association to create awareness towards importance of diseases monitoring.

The presence of several prominent players and constant innovations in SMBG technology will bolster the regional outlook. Meanwhile, China SMBG devices industry, which was valued at US$785.3 million in 2018, will witness substantial growth in the future due to the presence of a large geriatric population base.

Diabetes patients are at a greater risk of developing multiple chronic conditions and thus require continuous and real-time BGL monitoring. Several initiatives and programs such as the National Diabetes Education Program (NDEP) have been undertaken by the CDC to create awareness and reduce the disease burden. Constant developments and innovations in diabetes care products will augment SMBG devices industry forecast. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/self-monitoring-blood-glucose-devices-market

Partial Chapter of the Table of Content 

Chapter 4. Self-monitoring Blood Glucose Devices Market, By Product

4.1. Key segment trends

4.2. Self-monitoring blood glucose meters

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Continuous glucose monitors

4.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.4. Testing strips

4.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.5. Lancets

4.5.1. Market size, by region, 2014 – 2025 (USD Million)

Chapter 5. Self-monitoring Blood Glucose Devices Market, By Application

5.1. Key segment trends

5.2. Type 1 diabetes

5.2.1. Market size, by region, 2014 – 2025 (USD Million)

5.3. Type 2 diabetes

5.3.1. Market size, by region, 2014 – 2025 (USD Million)

5.4. Gestational diabetes

5.4.1. Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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