Self-monitoring Blood Glucose Devices Market Is Set To Grow Exponentially In The Forthcoming Years 2018-2023
The self-monitoring blood glucose devices market comprises testing strips, glucometers and other product segments such as lancets and lancing devices. Increase in aging population, high prevalence of diabetes due to unhealthy lifestyle, poor diet, excess alcohol consumption, and lack of physical activity, creates a huge demand for blood glucose devices across the globe. The global self-monitoring blood glucose devices market is forecast to grow at a CAGR of 4.8% (2018-2023) and will reach USD 9.4 Bn in 2023 from USD 7.4 Bn in 2018. Market players are primarily focusing on product launches, and mergers and acquisitions to broaden their customer base, as well as to consolidate their position in the market.
Segmentation based on product type
Based on product type, in 2018, the testing strips segment contributed the highest market share (78.8%), on account of its economical pricing in comparison to glucose meters, and awareness among diabetes patients. The glucometers segment was the second-largest segment, with a market share of 16.1%, owing to its ease of use, painless procedure, and quick results.
The other products' segment comprises lancets, lancing devices etc. It accounted for a 5.1% share of the market, and is expected to show moderate growth during the forecast period
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Segmentation based on end user type
Based on end user type, the market is segmented into hospitals, home settings, and diagnostics centers and clinics. Home settings segment contributed the highest market share of 86.7% in 2018 and will continue to grow at CAGR 4.9% due to convenience as these devices allow patients to check their blood glucose levels at home, at their own convenience.
During the forecast period, diagnostic centres and clinics are expected to expand at a moderate growth rate; in 2018, the segment witnessed market share of 8.5%. In 2018, hospital segment demonstrated least market share of 4.7%; the segment is projected to expand at a nominal growth in the coming years.
Regional insights
The self-monitoring blood glucose devices market in North America accounted for highest market share of 39.8% in 2018. The segment is expected to increase at CAGR 4.2% from 2018-2023 owing to factors such as growing number of advanced medical facilities, rising healthcare expenditure, and favourable reimbursement policies in the region. In 2018, testing strips segment contributed the highest revenue in North America region due to increase in diabetes cases, increasing disposable income, and technological advancements. The European market is anticipated to expand at a CAGR of 4.6% during the forecast period, given the presence of major market players in the region, improved awareness, and availability of self-monitoring blood glucose devices in a number of variants.
A large population, higher disposable income, and improved awareness about self-monitoring blood glucose devices will help the Asia-Pacific region dominate the global market during the forecast period. The Middle East and Africa and the Latin America markets, though still at nascent stages, will also experience high growth
Companies covered
• Roche Holding AG
• LifeScan, Inc.
• Abbott Laboratories
• Ypsomed AG
• B. Braun Melsungen AG
• Ascensia Diabetes Care
• DiaMonTech
• Nemaura Medical Inc.
• Noviosense BV
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-self-monitoring-blood-glucose-devices-market-2018-2023
Table of Contents
Chapter 1: Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in the study
1.3. Executive summary
Chapter 2: Introduction
2.1. Market definitions
2.2. Global market trends
2.3. Global drivers
2.4. Global challenges
2.5. Revenue based on product type – 2018 (USD Bn)
2.6. Revenue based on end user type – 2018 (USD Bn)
2.7. Value chain of self-monitoring blood glucose devices market
Chapter 3: Global Self-monitoring Blood Glucose Devices Market Overview
3.1. Market overview
3.1.a. Global market revenue – (2015-2017) (USD Bn)
3.1.b. Global forecast market revenue – (2018-2023) (USD Bn)
3.1.c. Geography-wise market revenue – (2018, 2023) (USD Bn)
Chapter 4: Global Self-monitoring Blood Glucose Devices Market - Segment Insights
4.1. Global testing strips market
4.1.a. Revenue – (2015-2023) (USD Bn)
4.1.b. Trends
4.1.c. Drivers
4.2. Global glucometers market
4.2.a. Revenue – (2015-2023) (USD Bn)
4.2.b. Trends
4.2.c. Drivers
4.3. Global other product segments market
4.3.a. Revenue – (2015-2023) (USD Bn)
4.3.b. Trends
4.3.c. Drivers
Continued ………
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Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
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Contact Person: Michelle Thoras
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City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
Segmentation based on product type
Based on product type, in 2018, the testing strips segment contributed the highest market share (78.8%), on account of its economical pricing in comparison to glucose meters, and awareness among diabetes patients. The glucometers segment was the second-largest segment, with a market share of 16.1%, owing to its ease of use, painless procedure, and quick results.
The other products' segment comprises lancets, lancing devices etc. It accounted for a 5.1% share of the market, and is expected to show moderate growth during the forecast period
Download Free Sample Report @ https://www.radiantinsights.com/research/global-self-monitoring-blood-glucose-devices-market-2018-2023/request-sample
Segmentation based on end user type
Based on end user type, the market is segmented into hospitals, home settings, and diagnostics centers and clinics. Home settings segment contributed the highest market share of 86.7% in 2018 and will continue to grow at CAGR 4.9% due to convenience as these devices allow patients to check their blood glucose levels at home, at their own convenience.
During the forecast period, diagnostic centres and clinics are expected to expand at a moderate growth rate; in 2018, the segment witnessed market share of 8.5%. In 2018, hospital segment demonstrated least market share of 4.7%; the segment is projected to expand at a nominal growth in the coming years.
Regional insights
The self-monitoring blood glucose devices market in North America accounted for highest market share of 39.8% in 2018. The segment is expected to increase at CAGR 4.2% from 2018-2023 owing to factors such as growing number of advanced medical facilities, rising healthcare expenditure, and favourable reimbursement policies in the region. In 2018, testing strips segment contributed the highest revenue in North America region due to increase in diabetes cases, increasing disposable income, and technological advancements. The European market is anticipated to expand at a CAGR of 4.6% during the forecast period, given the presence of major market players in the region, improved awareness, and availability of self-monitoring blood glucose devices in a number of variants.
A large population, higher disposable income, and improved awareness about self-monitoring blood glucose devices will help the Asia-Pacific region dominate the global market during the forecast period. The Middle East and Africa and the Latin America markets, though still at nascent stages, will also experience high growth
Companies covered
• Roche Holding AG
• LifeScan, Inc.
• Abbott Laboratories
• Ypsomed AG
• B. Braun Melsungen AG
• Ascensia Diabetes Care
• DiaMonTech
• Nemaura Medical Inc.
• Noviosense BV
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-self-monitoring-blood-glucose-devices-market-2018-2023
Table of Contents
Chapter 1: Executive summary
1.1. Market scope and segmentation
1.2. Key questions answered in the study
1.3. Executive summary
Chapter 2: Introduction
2.1. Market definitions
2.2. Global market trends
2.3. Global drivers
2.4. Global challenges
2.5. Revenue based on product type – 2018 (USD Bn)
2.6. Revenue based on end user type – 2018 (USD Bn)
2.7. Value chain of self-monitoring blood glucose devices market
Chapter 3: Global Self-monitoring Blood Glucose Devices Market Overview
3.1. Market overview
3.1.a. Global market revenue – (2015-2017) (USD Bn)
3.1.b. Global forecast market revenue – (2018-2023) (USD Bn)
3.1.c. Geography-wise market revenue – (2018, 2023) (USD Bn)
Chapter 4: Global Self-monitoring Blood Glucose Devices Market - Segment Insights
4.1. Global testing strips market
4.1.a. Revenue – (2015-2023) (USD Bn)
4.1.b. Trends
4.1.c. Drivers
4.2. Global glucometers market
4.2.a. Revenue – (2015-2023) (USD Bn)
4.2.b. Trends
4.2.c. Drivers
4.3. Global other product segments market
4.3.a. Revenue – (2015-2023) (USD Bn)
4.3.b. Trends
4.3.c. Drivers
Continued ………
Read all Reports of this category @ https://www.radiantinsights.com/catalog/healthcare
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
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