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Blood Glucose Meters Market Analysis by Key Players, Geography and Major Segments Forecast 2018-2026

The global Blood Glucose Meters Market is likely to expand considerably in the coming years due to advent of non-invasive devices. According to a report published by Fortune Business Insights, titled ‘Blood Glucose Meters: Global Market Analysis, Insights and Forecast, 2019-2026, the market was valued at US$ 7,419.0 Mn in 2018. Fortune Business Insights states that this market is likely to reach US$ 15,415.6 Mn by 2026, thereby exhibiting a CAGR of 9.6%.



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Some of the leading companies operating in the global blood glucose meters’ market are

Roche
Dexcom, Inc.
B. Braun Medical
Medtronic
Lifespan
Ascensia Diabetes Care
Terumo Medical Corporation
Abbott
Sanofi
DiaMonTech GmbH.

In this report, Fortune Business Insights has indicated that the market will grow in the near future due to the increasing demand and the subsequently rising uptake of blood glucose meters.

Increasing incidence of diabetes has been a leading factor that is responsible for the surge in demand of blood glucose meters. According to the International Diabetes Federation (IDF), in 2017, around 425 million people suffered from diabetes, worldwide. Furthermore, it also states that this number is likely to reach 629 million by the year 2045. High prevalence of diabetes, combined with the accuracy of digital blood glucose meters in detecting blood pressure and sugar levels are driving the global blood glucose meters’ market.

Launch of DiaMonTech’s IR-based Blood Glucose Meter to Spur Growth Opportunities

Conventional blood glucose meters involved the need for invasive techniques for diagnosis. The most commonly used methods involved taking blood samples with the help of needle pricks in fingers. The needle prick method was painful for many users and it caused discomfort to some.

Therefore, there has been a constant need for an alternative to the invasive devices for continuous glucose monitoring. In 2018, DiaMonTech announced the launch of a compact blood glucose meter. The device performed on an infra-red technology that is used to count the glucose molecules. This product is likely to transform existing blood glucose monitoring techniques and is likely to witness high demand from around the world. The advent of non-invasive devices is likely to induce growth in the global blood glucose meters’ market.

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LifeScan and Sanvita Medical Collaborate to Develop Continuous Glucose Monitoring Devices
In May 2019, LifeScan announced that it has reached an agreement with Sanvita Medical for development and marketing of continuous glucose monitoring (CGM) devices. Through this agreement, the company aims at making CGM devices available throughout North America and certain parts of Europe in initial years, with an aim of expanding in other parts of the world in the coming years.

The company boasts an attractive product portfolio and its latest addition of CGM devices will bode well for the future business expansion. This partnership will have a positive impact on the global market and is likely to favor growth of the market in the coming years.

Abbott’s Freestyle Libre Flash Glucose Monitoring Device Receives FDA Approval

In 2017, Abbott received clearance from the Food and Drug Administration for its Libre Flash device. The device was approved for patients with type 1 and type 2 diabetes, after a series of successful clinical trials. The blood glucose meter’s accuracy is expected to result in huge demand in the coming years. Abbott’s latest device is likely to bolster growth of the global blood glucose meters’ market and is likely to favor growth of the market in the forthcoming years.

TABLE OF CONTENT:

  1. Introduction
    1.1. Research Scope
    1.2. Market Segmentation
    1.3. Research Methodology
    1.4. Definitions and Assumptions
    2. Executive Summary
    3. Market Dynamics
    3.1. Market Drivers
    3.2. Market Restraints
    3.3. Market Opportunities
    4. Key Insights
    4.1 Prevalence and Incidence of Diabetes, By Key Countries
    4.2 Pricing Analysis
    4.3 Technological Advancements
    4.4 Key Industry Trends
    4.5 Recent Industry Developments Such as Mergers & AcquisitionsSpeak to Analyst: https://www.fortunebusinessinsights.com/enquiry/queries/blood-glucose-meters-market-100770

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Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

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