Press Release / Industry / Blood Glucose Monitoring System Market - Greater Growth Rate during forecast 2018 – 2024

Blood Glucose Monitoring System Market - Greater Growth Rate during forecast 2018 – 2024

Blood glucose monitoring system is a technique of testing the concentration of glucose in the blood which particularly help in diabetic management. Regular monitoring of blood glucose can help to analyse the effect of food, exercise, medication and illness on the blood sugar level. Blood glucose meters measure glucose in the blood capillary. Invasive glucose monitoring method is the most common method used for monitoring blood glucose level. It involves pricking of hands or fingers to monitor glucose level. Non-invasive glucose monitoring method is the most recently advanced method for glucose monitoring which is being studied and further researches are carried out.

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Blood Glucose Monitoring System Market Outlook
The blood glucose monitoring system markets has a developing potential owing to the continuous technological advancement in the monitoring devices. The major factors driving the blood glucose monitoring system market are the increasing population under the risk of diabetes, rising prevalence of diabetes and increase in adoption of continuous sugar surveillance systems. However, the prominent factor restraining the growth of the global blood glucose monitoring system market is the excessive cost associated with the diagnosis of diabetes, patent expiry issue and inadequate reimbursement related to the application of CGM systems.

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Blood Glucose Monitoring System Market by Product Type
Based on product type, the global blood glucose monitoring system market is categorised into self-monitoring blood glucose systems and continuous glucose monitoring systems. The self-monitoring blood glucose system is further sub-segmented into blood glucose meters, testing strips and lancets & lancing devices. Continuous glucose monitoring system is sub segmented into Sensors, transmitters and receivers. The continuous glucose monitoring system accounted for largest market share in 2017. The high growth in the continuous glucose monitoring system segment can be primarily attributed to the rising adoption of minimally invasive procedures.

Blood Glucose Monitoring System Market by Application
Based on application, the global blood glucose monitoring system market is segmented into type-1 diabetes, type-2 diabetes and gestational diabetes. Among these segments Type-2 diabetes segment is expected to account for largest share in the global blood glucose monitoring system market. The largest share of this segment can be primarily attributed to increasing incidences of type-2 diabetes and increasing product launches by medical device manufacturers to enhance patient comfort.

Blood Glucose Monitoring System Market by Patient Care Setting
By patient care setting the blood glucose monitoring market is bifurcated into hospitals & clinics and self/home Care. The self/home care setting segment is expected to command the largest share of blood glucose monitoring system market in 2017. Growing diabetic population, increasing awareness about regular monitoring of glucose levels and increasing product launches enhancing patient comfort when used at home primarily attributed to the ring adaptation of self/ homecare settings.

Blood Glucose Monitoring System Market by Geography
By geography blood glucose monitoring system market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Middle East & Africa. North America is expected to be the fastest-growing region during the prediction period. Factors such as rising prevalence of diabetes in the US and Canada is fuelling the growth of the blood glucose monitoring system market in North America.

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Blood Glucose Monitoring System Market Key Players
Some of the key participants in the blood glucose monitoring system market are F.Hoffman-la Roche (Switzerland), Abbott Laboratories (US), LifeScan (Johnson & Johnson)(US), Ascensia Diabetes Care (Switzerland), Medtronic (Ireland), Dexcom (US), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (US) and Nova Biomedical (US), etc. F.Hoffman-la Roche is one of the leading company in the blood glucose monitoring system market as it offers an extensive range of glucometers and lancets and has a presence in North America, Europe and Asia pacific.