POC Blood Glucose Monitoring Devices Market Revenue, Consumption, Import and Export Report: Radiant Insights

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This report studies POC Blood Glucose Monitoring Devices in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022.

According to a report available on Radiant Insights, Inc.; the worldwide POC blood glucose monitoring devices market is highly promising in nature. It is anticipated to grow at a remarkable CAGR during the forecast period (2017 to 2022). Glucose monitoring is essential to check blood sugar levels. Such monitoring devices provide data required to make decisions essential for diabetes management such as insulin dosage, food intake, and workout routine. Point-of-Care (POC) blood glucose monitoring devices are generally used in Hospitals, Clinics, Diagnostic centers, and Homes.

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Rising cases of diabetes at a global level is the major factor driving the growth of the POC blood glucose monitoring devices market. High number of diabetic patients is likely to increase the requirement for glycemic control and modern diabetes treatment. In addition, easy availability of Continuous Glucose Monitoring for Diabetes (CGMS) and Self-Monitoring of Blood Glucose(SMBG) system to track blood sugar levels can augment the growth. Moreover, rapid implementation of minimally invasive products to monitor POC blood glucose is expected to widen the scope for such devices in coming years.

Closely watching the proliferating demand for POC blood glucose monitoring devices, most manufacturing companies are exhibiting new and improved monitoring devices in front of consumers. For instance, Abbott Labs has recently designed a new CGM system for diabetic patients. The new monitory device called Free Style Libre Flash CGM system has already been approved by the FDA and is expected to be available in the market.

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The device is believed to replace finger sticks with new wired enzyme technology. This technology is embedded in a small sensor that measures glucose level from tissues under the skin. To use this device patients have to wave a mobile reader and get the required readings instantly. This device can provide three types of information such as current glucose reading, projective reading, and past reading. Therefore, this extra information is likely to help patients and doctors in management of diabetes.

The point-of-care (POC) blood glucose monitoring devices are easily available at reasonable prices. However, most diabetic patients have to purchase both glucose-monitoring and an invasive device. It may not be affordablefor every patient to buy multiple devices. This increasing healthcare expenditure is likely to become an obstruction for the market in near future.

The POC Blood Glucose Monitoring Devices Market has been categorizedon the basis of product type, application, and region. Based on product type, the market is divided into wearable and non-wearable blood glucose monitoring devices. On the basis of application, the market can be divided into clinics, hospitals, diagnostic centers, and home care settings.

Furthermore, regional segmentation of the POC blood glucose monitoring devices market includes Europe, America, and Asia Pacific. In Europe, growing cases of diabetes and demand for related diagnostic tests are the major factors driving the market in the region. Various initiatives from the European government to make people aware about self-monitoring and point-of-care (POC) tests for diabetes can also augment the growth in coming years. Similarly, in North America, increasing geriatric population and a high predominance of diabetes are likely to bode well for POC blood glucose monitoring devices market. In Asia Pacific, growing patient population base and increasing number of partnerships among key market players are likely to propel the market growth during the forecast period.

Some of the prominent companies operating in the POC blood glucose monitoring devices marketare Abbott Laboratories; Bayer AG; Dexcom, Inc.; F. Hoffmann-La Roche Ltd; and Johnson & Johnson.

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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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