The global blood glucose monitoring devices market is expected to grow at a significantly high rate in the next five years. Global rise in the prevalence and incidence of diabetes and increasing adoption of continuous glucose monitoring (CGM) systems are the key factors propelling the growth of this market. In addition, continuous technological advancements in blood glucose monitoring devices and rapid growth in aging population are further stimulating the demand for blood glucose monitoring devices. However, inadequate reimbursement and high cost associated with the application of CGM systems and product recalls are some of the key factors hampering the growth of this market.
Emerging markets including China, India, Russia, and Brazil have become attractive destinations for companies engaged in the development and marketing of blood glucose monitoring devices. A number of factors such as presence of large patient pool, increasing population access to health services, rising awareness about the point of care testing, and growing government healthcare expenditure in developing countries are offering high growth opportunities for the market player in these emerging nations.
Abbott Laboratories (U.S.), ARKRAY, Inc. (Japan), Bayer AG (Germany), Dexcom, Inc. (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Johnson & Johnson (U.S.), Medtronic plc (U.S.), Nipro Diagnostics, Inc. (U.S.), and Terumo Medical Corporation (U.S.) are some of the key players engaged in the development and manufacturing of blood glucose monitoring devices. Over the past three years, these companies adopted new product development and launches, collaborations, agreements, partnerships, and geographical expansions as their key business strategies to ensure their growth in this market.
Scope of the Report
This research report categorizes the blood glucose monitoring devices market into the following segments and subsegments:
Blood Glucose Monitoring Devices Market, by Product
Blood Glucose Monitoring Devices Market, by Application
Blood Glucose Monitoring Devices Market, by Geography