Glucose monitoring devices market in North America dominates the global market, accounting for around 40% of the total market share in 2017 and is projected to grow at a CAGR of over 9% during the forecast period.
Arizton’s recent market research report on the glucose monitoring devices market identifies Abbott, Medtronic, LifeScan, and Roche as the leading vendors that are likely to dominate the market during the forecast period. This research report provides detailed analysis of market segmentation by product (self-monitoring blood glucose devices and continuous glucose monitoring devices), by end-users (hospitals and clinics, diagnostic centers, and home healthcare), by distribution channel (retail and online), and by geography (APAC, Europe, Latin America, MEA, and North America).
The glucose monitoring devices market is expected to generate revenues of more than $6 billion and is expected to grow at a CAGR of over 8% during the forecast period.
The glucose monitoring devices market is divided into four major segments that consist of by product, distribution channels, end-users, and geography. The top three segments are discussed in detail below:
North America to dominate the glucose monitoring devices market share during the forecast period
The glucose monitoring devices market by geography is segmented into APAC, Europe, Latin America, North America, and MEA. North America dominated the global market accounting for around 40% of the total market share in 2017 and is projected to grow at a CAGR of over 9% during the forecast period. The rising number of smartphone users and wearable gadgets and spreading awareness about e-health services are driving the demand for glucose monitoring devices in the North American market.
The US and Canada are the highest revenue generators in the market in the North American region.
The increasing investments in R&D activities will help the leading vendors introduce medical devices which are safer, offer comfort, and have differentiated functionalities. The availability of lucrative discounts on glucose monitoring devices through e-commerce and online stores will boost the demand for these products in North America
SMBG devices to grow at the fastest CAGR in glucose monitoring devices market share during the forecast period
The products segment in the global glucose monitoring devices market is classified into self-monitoring blood glucose devices and continuous glucose monitoring devices.
Self-monitoring blood glucose devices dominated the global market accounting for over 57% of the total market share in 2017 and is projected to grow at a CAGR of more than 10% during the forecast period.
The SMBG devices segment is further categorized into glucose strips, glucose meters, and lancets. The increasing awareness of diabetes is promoting self-management of the disease and easy-of-use of SMBG devices will augment the growth of this market segment over the next few years. Glucose strips are the largest revenue contributor in the SMBG market segment and lancets is steadily gaining popularity in the global market. New product launches and technological innovations will help leading vendors in this market segment gain a larger market share during the forecast period.
Home healthcare care to gain market share in glucose monitoring devices market share during the forecast period
The glucose monitoring devices market by end-users is divided into hospitals and clinics, diagnostic centers, and home healthcare.
The home healthcare end-user segment in the global market accounts for around 28% of the total market share in 2017.
The growing demand for self-monitoring blood glucose services due to the rising number of incidences of diabetes in the global market is propelling the growth of this market segment. The integration of glucose monitoring devices with mobile applications to offer ease and convenience to monitor blood glucose levels at home healthcare set up will augment the growth of the global market. The rising awareness about the real-time tracking of glucose concentration and other vital signs will fuel the growth of this market segment over the next few years.
The other prominent players in the glucose monitoring devices market are 77 Elektronika, A. Menarini Diagnostics, ACON Laboratories, AgaMatrix, Alere, Ascensia Diabetes Care, B. Braun, Beurer, Bioptik Systems, DiamonTech, Dexcom, Echo Therapeutics, Glysens, HemoCue, iHealth Labs, Innovus Pharmaceuticals, Integrity Applications, International Biomedical, Medisana, Mediwise, National Diagnostic Products, Nemaura Medical, Nipro, Nova Biomedical, Novo Nordisk, Orsense, Panasonic Healthcare, Philosys, Senseonics, TaiDoc Technology, Terumo Europe, and Wama Diagnostica.
The complete overview of the latest market research report on glucose monitoring devices market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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