"Blood Glucose Monitoring System Market
by Product (Self-Monitoring, Continuous Glucose Monitoring Devices),
Testing Site (Fingertip), Patient Care Setting (Hospital, Homecare),
Application (Type 1, Type 2, Gestational Diabetes) - Global Forecast to
2022".
The global blood glucose monitoring system market is projected to reach USD 10.58 Billion by 2022 from an estimated USD 8.35 Billion in 2017, at a CAGR of 4.8% during the forecast period. The key factors driving the growth of this market include rising prevalence of diabetic population, and increasing innovative product launches resulting in increased adoption amongst patients.
The global blood glucose monitoring system market is projected to reach USD 10.58 Billion by 2022 from an estimated USD 8.35 Billion in 2017, at a CAGR of 4.8% during the forecast period. The key factors driving the growth of this market include rising prevalence of diabetic population, and increasing innovative product launches resulting in increased adoption amongst patients.
By product, the self-monitoring blood glucose systems segment is expected to account for the largest share of the market in 2017
On the basis of product, the blood glucose monitoring
system market is segmented into self-monitoring blood glucose systems
and continuous glucose monitoring systems. In 2017, the self-monitoring
blood glucose system segment is expected to account for the largest
share of the global market. The large share of this segment can be
primarily attributed to product enhancements resulting in improved
accuracy and requirement of less blood sample, and their high adoption
in emerging markets.
By testing site, the fingertip testing segment is expected to account for the largest share of the market in 2017
On the basis of testing site, the blood glucose
monitoring system market is segmented into fingertip testing and
alternate site testing. In 2017, the fingertip testing segment is
expected to account for the largest share of the global market. The
large share of this segment can be primarily attributed to accuracy and
high reliability on fingertip testing.
By patient care setting, the self/home care segment is expected to account for the largest share of the market in 2017
On the basis of patient care setting, the blood
glucose monitoring system market is segmented into self/home care and
hospital & clinics. In 2017, self/home care segment is expected to
account for the largest share of the global market. The large share of
this segment can be primarily attributed to factors such as growing
diabetic population, and increasing preference for less invasive
technologies that can be used at home.
By application, the type 2 diabetes segment is estimated to dominate the market in 2017
Based on application, the market is segmented into
type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 2
diabetes segment is expected to command the largest share of the blood
glucose monitoring system market in 2017. The large share of this
segment can be attributed to increasing incidence of type 2 diabetes,
and increasing product launches to enhance patient comfort.
North America to dominate the market in 2017
In 2017, North America is expected to account for the
largest share of the blood glucose monitoring system market, followed
by Europe. Factors such as a favorable reimbursements, awareness
programs, rising FDA approvals in the US, and rising prevalence of
diabetes in the US and Canada are contributing to the large share of
North America.
The key players in the global blood glucose
monitoring system market are Roche (Switzerland), Abbott (US), LifeScan
(US), Ascensia (Switzerland), Medtronic (Ireland), Dexcom (US), Ypsomed
(Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France),
ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and
Nova Biomedical (US).
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