The glucose monitoring devices market is one of the fastest-growing markets. The global market for glucose monitoring devices is projected to reach $ 14 billion over the forecast period, growing at a healthy compound annual growth rate (CAGR) of 6 percent. The key aspects driving the global glucose monitoring devices market include the increasing occurrences of diabetes across the globe, progressively improving understanding about the advantages of regular glucose monitoring and the availability of highly developed solutions for regular glucose monitoring, based on various technologies like Continuous Glucose Monitoring (CGM), that boost the effectiveness of the glucose monitoring testing procedures. However, due to the lack of knowledge about using highly developed glucose monitoring technologies, as well as the higher costs, the global glucose monitoring devices market could face a challenge. The market is further categorized by applications and regions.
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Based on the end-use industries, the global market for glucose monitoring devices is divided into three application segments namely private clinics, hospitals, and self-based glucose testing. The hospitals segment accounted for the maximum market share in 2014 and it is expected that the self-based glucose testing segment will acquire the maximum market share in the near future eventually generating maximum revenue. On the basis of analysis, the global glucose monitoring devices market is divided into quantitative & qualitative tests. One of the most regular qualitative tests used for testing blood glucose levels is the Benedict test. Some other such quantitative & qualitative tests include Osazone test, Barfoed’s test, and others.
Geographically, the global glucose monitoring devices market is divided into the Middle East & Africa, North America, Asia-Pacific, Europe, and Latin-America. North-America followed by Europe accounted for the highest market share in 2014. The regions of Asia-Pacific are likely to show a huge growth due to changing lifestyle patterns, high living standards, growing awareness among people, and the usage of pre-filled syringes among the population.
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The key players of the global glucose monitoring devices market are GlySens Inc., Nova Biomedical Corporation, Abbott Laboratories Inc., Dexcom Inc., Bayer AG, Senseonics, Eli Lilly and Company, Insulet Corporation, Medtronic, F. Hoffmann-La Roche Ltd., and LifeScan Inc.
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