Analysts at Arizton Advisory & Intelligence say that the market is likely to grow at a CAGR of 8.38% during 2017−2023, to counter the growing prevalence of diabetes across the world.
According to a recently published market research report by Arizton indicates that the global glucose monitoring devices market is likely to grow at a CAGR of 8.38% during 2017−2023, to counter the growing prevalence of diabetes across the world.
A recent report on the Glucose Monitoring Devices Market - Global Outlook and Forecast 2017−2022, released by Arizton Advisory & Intelligence says that the global glucose monitoring devices market is expected to witness a substantial growth during the next five years.
Increasing incidence of diabetes across the globe to propel market growth
In 2015, diabetes was one of the leading causes of the increasing mortality rate across the world. There is high risk of cardiovascular and other diseases, due to the rising prevalence of diabetes. Diabetes is one of the leading causes of rising mortality rate globally. Increasing awareness of the benefits of blood sugar level monitoring and control, spearheaded by government initiatives and other institutional efforts, is expected to fuel the growth of the glucose monitoring devices market across the globe over the next few years.
Use of smartphones and smart gadgets to monitor blood sugar level to promote glucose monitoring devices market growth
Riding on technological advances and extensive R&D efforts, smartphones and smart gadgets can now be used in easy detection of sugar levels. This continuous technological advancements will also promote the growth of the global glucose monitoring devices market over the next few years.
High adoption of glucose monitoring devices by women to also promote market growth
Confinement of women to household chores in the past years has resulted in higher prevalence of diabetes among women across geographies. However, the introduction of smartphones and wearable gadgets has helped in spreading awareness and the adoption of glucose monitoring devices in women, who are becoming more inclined towards health, fitness, and diet. This has helped in driving the market growth for glucose monitoring devices globally, and this trend is expected to continue over the next few years.
Major vendors profiled in the global glucose monitoring devices market research report
Other prominent vendors in the global glucose monitoring devices market are Mediwise, Medisana, Ascensia Diabetes Care, International Biomedical, Integrity Applications, Hemocue, Philosys, B. Braun, Terumo Europe, Acon Laboratories, A. Menarini Diagnostics, Bioptik Systems, Dexcom, AgaMatrix, Wama Diagnostica, 77 Elektronika, National Diagnostic Products, Beurer, Alere, Senseonics, Taidoc Technology, Echo Therapeutics, Panasonic Healthcare, BD, Bionime, Nova Biomedical, Arkray, Animas, Dariohealth, Integrity Applications, International Biomedical, Menarini Diagnostics, Nemaura, Nipro Diagnostics, Nova Biomedical, Omnis Health, Owen Mumford, Novo Nordisk, Innovus Pharmaceuticals, and Glysens.
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