The new report by Expert Market Research titled, 'Global Blood Glucose Meters Market Report and Forecast 2021-2026', gives an in-depth analysis of the global blood glucose meters market, assessing the market based on its segments like types, process types, distribution channels, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 14 Billion
- Forecast CAGR (2021-2026): 8.6%
Diabetes is a chronic disorder where an elevated glucose level in the body is caused by the pancreas' failure to produce insulin. These instruments are used to monitor blood sugar levels, which is an essential step in the treatment of diabetes. These advanced blood glucose meters are a preferred alternative for traditional blood glucose meters, which have implemented invasive diagnostic procedures, such as using a needle to poke the fingers, causing multiple patients to have pain and discomfort. North America is a primary global blood glucose market in the regional markets. The continued improvements in health care services and surgical instruments may be related to this.
Industry Definition and Major Segments
Blood glucose meters refer to electronic instruments used to check blood by a minute drop of blood collected by a lancet and a corresponding lancing unit. This system is compact, battery-powered, and simple to use, and is very convenient.
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The market can be divided into the following segments on the basis of type:
- Self Monitoring
Based on the function, the market can be divided into:
The market can be divided based on the distribution channel into:
On the basis of end-use, the market can be bifurcated to:
On the basis of regional markets, the industry is divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The market is expected to be driven by the rising incidence of diabetes, combined with an increasing geriatric population vulnerable to diabetes. The market's growth is further driven by the growing awareness of preventive treatment for diabetes and new product launches. Several countries introduced lockdowns during the coronavirus epidemic to slow down the spread of the illness. In terms of their dietary habits, physical activity, and sedentary actions, this has triggered improvements in the everyday life of diabetic patients.
Key Market Players
The major players in the market are B. Braun Melsungen AG, Medtronic plc, Abbott Laboratories, Dexcom, Inc., Terumo Europe NV, and F. Hoffmann-La Roche Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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