Global Self-Monitoring Blood Glucose Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024 Self-Monitoring Blood Glucose Market report contains a forecast of the next 5 years, starting 2019 and ending 2024 with a host of metrics like supply-demand ratio, Self-Monitoring Blood Glucose market frequency, dominant players of Self-Monitoring Blood Glucose market, driving factors, restraints, and challenges. The report also contains market revenue, sales, Self-Monitoring Blood Glucose production and manufacturing cost that could help you get a better view on the market. The Report Focuses on the key Global Self-Monitoring Blood Glucose manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
One of the fastest-growing chronic diseases in the world is diabetes. Diabetes is a disease that occurs when the glucose levels of the body increase to more than the normal level, and the body unable to produce insulin. Hence, glucometers are used to monitor glucose levels. The Type 1 diabetes population around the world is rising while witnessing a CAGR of 2.13%. As the diabetic population rises, the self-monitoring blood glucose devices market is also bound to increase.
Top Companies in the Global Self-Monitoring Blood Glucose Market: Abbott Diabetes Care, Roche, Johnson & Johnson, Arkray, Ascensia Diabetes Care, Agamatrix Inc., Bionime Corporation, Acon, Medisana, Trivida, Rossmax And others.
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Most of the Glucometer Market Revenue is Generated from Blood Glucose Test Strips.
Glucometer is considered to be a one-time purchase. However, test strips, on the other hand, are considered to be a continuous investment, as a test strip needs to be disposed off after one use. Thus, it presents a considerable cost impact to the consumers.
Overall, the global demand for blood glucose test strips is projected to witness significant growth over the forecast period. The growth of the market studied is expected to be spurred by the rising global diabetic population.
The growth in market volumes and share of the test strip is expected to be better than that of glucometers, because of the difference in the use-case frequency. While an average glucose meter lasts anywhere between six months and three years, presenting a one-time cost, during the same time frame, the corresponding use of multiple (in the range of thousands) test strips may occur, causing a recurrent cost impact.
North America has the Largest Market Share, and will Continue to Do So in the Future
The global self-monitoring blood glucose systems market is currently experiencing a boost because diabetic patients have to test their glucose levels throughout the day. Mainly Type 1 diabetic people must, and should, test their blood glucose at least three times per day to take their insulin dosage.
The countries in the North American region have a high prevalence of diabetes. According to WHO in 2015, approximately 1.6 million deaths were attributed directly to diabetes on a global scale. An additional 2.2 million deaths were caused due to high blood glucose in 2012.
According to the ADA (American Diabetes Association), the total assessed cost for diagnosed diabetes in 2017 was USD 327 billion, which was inclusive of USD 237 billion in direct medical costs and USD 90 billion in augmented productivity.
Regional Analysis For Self-Monitoring Blood Glucose Market:
For comprehensive understanding of market dynamics, the Global Self-Monitoring Blood Glucose market is analyzed across key geographies namely: North America (Global Canada, Mexico), Europe (Germany, UK, France, Rest of Europe), Asia Pacific (China, Japan, Global Rest of Asia Pacific), Latin America (Brazil, Argentina, Rest of Latin America) And Rest of the World.
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-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
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-Analytical Tools: The Global Self-Monitoring Blood Glucose Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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