Blood glucose monitoring is the manner of checking out the diabetes level in the blood. It facilitates to recognize the glucose degree of blood in the particular goal variety. The blood glucose tracking gadgets offer beneficial perception to manipulate diabetes. It enables to track the development of treatment goal as well as observe the impact of meditation on blood sugar degree and recognize how sickness effect the glucose stage in blood.
International Blood Glucose Monitoring Market is anticipated to develop at a CAGR of 7.1% at some stage in the forecast period 2017-2023.
Numerous blood glucose monitoring devices are present within the marketplace, that’s referred to as blood glucose meter. These gadgets are designed to use to the one-of-a-kind kind of diabetes including kind 1, type 2, and gestational diabetes. The blood glucose monitoring gadgets marketplace growth is majorly attributed to the increasing prevalence of diabetes, growing era for tracking and prognosis of diabetes, early detection of diabetes, and increasing call for non-stop glucose tracking gadgets.
In keeping with the diabetes prevalence figures advised by way of the Australian bureau of records, greater than 5.1% of the Australian populace was recognized with diabetes in 2016. But, as according to the facilities for ailment manipulate and prevention (CDC), in 2015, round 30.3 millions of Americans were suffering from diabetes that is 9.four% of the overall U.S. populace. In step with IDF, in 2017, general 8.8% of adults elderly 20-79 years have diabetes.
Some of key the players in the market are Abbott Laboratories (U.S.), Arkay, Inc. (U.S.), Bayer Healthcare AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), Goldsite Diagnostics Inc., GlySure Ltd (U.K), Sphere Medical Holding plc. (U.K), Dexcom Inc. (U.S.), and LifeScan Inc. (U.S.).
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Global blood glucose monitoring devices market is segmented on the basis of product type, application, and end user
On the basis of the product type, it is segmented into invasive glucose monitoring devices, continuous glucose monitoring devices (CGM), flash glucose monitoring devices, and others.
On the basis of the application, it is segmented into type 1 diabetes, type 2 diabetes, and others.
On the basis of the end user, it is segmented into diagnostic centers, hospitals, clinics, research centers, and home care diagnostics.
Geographically, global blood glucose monitoring market is segmented into America, Europe, Asia Pacific and the Middle East & Africa.
The Americas commands the largest blood glucose monitoring market due to the presence of a well-developed healthcare sector and large patient population. Americas dominate the global blood glucose monitoring market owing to high healthcare spending, increasing population, increased research & development activities and the concentration of major companies have fuelled the growth of the market in this region.
Europe holds the second position in the global blood glucose monitoring market owing to the government support for research & development and availability of funds for research. According to WHO, Globally, around 3.4 million people died annually owing to high blood glucose and almost 80% of these deaths occur in lower and middle income countries, and this statistics is coupled with the fact that almost 50% were people aged under 70 years.
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Asia Pacific is the fastest growing blood glucose monitoring market owing to the presence of rapidly developing healthcare technology, huge patient population, high healthcare expenditure, and increase in prevalence of nerve injuries or disorder related to nerve. Moreover, increasing demand for new treatment methods in countries like India and China are likely to emerge as the fastest growing market across the globe.
On the other hand, in the Middle East and Africa has the lowest market for blood glucose monitoring due to lack of technical knowledge and poor medical facilities.
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