The global glucose meter market size is expected to reach USD 18.05 billion in 2028 and register a revenue CAGR of 9.4% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is significantly spurred by surging demand for blood glucose meters among people with Type 1, Type 2, or gestational, or latent autoimmune diabetes. Other major factors prompting growth of the global glucose meter market are rise in global geriatric population, increasing prevalence of obesity and other lifestyle-induced conditions, rising demand for non-invasive glucose meters, and introduction of technologically advanced blood glucose meters with cutting-edge features and higher affordability. A glucose meter is a portable medical device that measures blood glucose levels in the body and is typically used by people suffering from diabetes for regular monitoring. Monitoring one’s blood sugar level on a regular basis is one of the most effective ways to keep the diseases under control, and it also helps the physician manage the condition better. Portable blood glucose meters, also referred to as glucometers, are increasingly being used by people for their highly convenient use.
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Increasing prevalence of diabetes worldwide is one of the key factors behind the rising demand for glucose meters. As one of the most prevalent chronic diseases in the world, diabetes is acquired by factors such as significant lifestyle changes, lack of physical activity, unhealthy eating habits, and increasing consumption of alcohol. In 2019, the World Health Organization (WHO) reported nearly 1.5 million deaths caused by diabetes around the world.
Some Key Highlights from the Report :
- Among product type segments, the continuous monitoring devices segment is projected to reach the largest revenue share over the forecast period. Growing prevalence of diabetes across the world, higher risk of the disease among geriatric people, surging need for constant glucose monitoring (CGM) devices, and increasing use of wearable CGM devices are among the key factors accounting for the growth of this segment.
- Based on type, the wearable segment will account for the highest revenue growth rate over the forecast period, owing to several favorable factors. Growing awareness about preventive care for diabetes, rising demand for advanced continuous glucose monitoring devices, and increasing use of smartphones and various fitness wearable devices are some of the factors boosting growth of this segment.
- Among regional markets, the North America glucose meter market accounted for the largest revenue share in 2020. High revenue growth of the regional market is supported by rising prevalence of lifestyle-induced diseases such as diabetes and obesity, growing use of blood glucose meters across home care settings, technological advances in glucometers, and increasing sales of wearable and self-monitoring glucose meters.
Top Companies Profiled in the Report Include:
Roche Diagnostics, Medtronic plc., Johnson and Johnson, Bayer AG, Abbott Laboratories, Omron, Arkray, Inc., Grace, B. Braun, i-SENS, Inc., DiaMonTech GmbH, Infopia Co., Ltd, Hainice Medical Inc., Mendor, All Medicus Co, Ltd, 77 Elektronika Kft, Delta Group, Ok Biotech, Medisana, Nova Biomedical, Oak Tree Health, Inc., Omnis Health, Simple Diagnostics, US Diagnostics, SD Biosensor, Nipro Diagnostics, Sannuo Biological Sensing Co. Ltd., Yuwell Medical, and Yicheng.
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For the purpose of this report, the global glucose meter market is segmented based on product, type, testing site, technique, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Self-monitoring Blood Glucose Systems
- Continuous Glucose Monitoring Systems
Type Outlook (Revenue, USD Billion; 2018-2028)
Testing Site Outlook (Revenue, USD Billion; 2018-2028)
- Fingertip Testing
- Alternate Site Testing
Technique Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
- Diagnostic Centers
- Home Care
Distribution Channel Outlook (Revenue, USD Billion; 2018-2028)
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
Key Regional Markets Studied in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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