According to our new research study on “Glucose Monitoring
Devices Market Forecast to 2027 – Global
Analysis – by Product, End User, and Geography,” the market size is expected to
reach US$ 21,850.9 million by 2027 from US$ 12,628.3 million in 2018; it is
estimated to grow at a CAGR of 6.4% during 2019–2027. The report highlights
trends prevailing in the market and factors driving its growth. The glucose
monitoring devices market growth is attributed to the increasing prevalence of
obesity globally and rapid technological advancements in glucose monitoring
devices. However, lower diagnosis and treatment rates in emerging countries
restrict the adoption of devices, thereby hindering the market growth.

The market for glucose monitoring devices in North
America is majorly contributed by the US. The market in the region is
experiencing robust growth owing to the significantly rising prevalence of
diabetes across the countries. The market is also driven by the awareness
programs and initiatives to prevent the growth of diabetes; moreover, the
changes in reimbursement scenarios are likely to add up to the growth during
the forecast period. Diabetes is commonly seen in the elderly. However, the
prevalence of diabetes is also seen among the overweight and obese population.
According to the data published by the Center for Disease Control and
Prevention in 2017, it stated that ~30.3 million people, which represents 94%
of the population, are suffering from diabetes. Among these, nearly 23.1
million people are diagnosed with diabetes and around 7.2 million people are
not diagnosed with proper procedures.

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The global glucose monitoring devices market, based
on product, is segmented into glucometers, lancets, testing strips, and other
glucose monitoring devices. The testing strips segment was the largest among
the product subsegments in the market in 2018 and is expected to witness growth
in its demand at the fastest CAGR of 7.0% during 2019–2027. The global glucose
monitoring devices industry, based on end user, is segmented into home care and
hospitals & clinics. The homecare segment held a larger share of the market
in 2018 and is expected to witness growth in its demand at a faster CAGR during
2019–2027.

Increasing Prevalence of Obesity Worldwide Fueling
Glucose Monitoring Devices Market Growth

Obesity is one of the significant concerns globally.
It is one of the major issues that affect people of all ages. According to
World Health Organization (WHO), in 2016, more than 1.9 billion adults aged 18
years and older were overweight. Lack of exercise, unhealthy diet, and rapid
growth in the obese population are expected to increase the susceptibility of
diabetes among the population globally. Hence, this is expected to increase the
demand for insulin delivery devices in the coming years.

Glucose Monitoring Devices Market: Segmental Overview

Product-Based Insights

The global glucose monitoring devices market, based
on product, is segmented into glucometers, lancets, testing strips, and other
glucose monitoring devices. The testing strips segment is the largest among the
product subsegments in the market in 2018; it is also expected to witness
growth in its demand at the fastest CAGR of 7.0% during 2019–2027.

End User-Based Insights

The global glucose monitoring devices market, based
on end user, is segmented into home care and hospitals & clinics. The
homecare segment held a larger share in 2018 and is expected to witness growth
in its demand at a faster CAGR during 2019–2027

Glucose Monitoring Devices Market: Competitive
Landscape and Key Developments

F. Hoffmann-La Roche LTD.; B.Braun Melsungen AG;
Medtronic; Abbott; Lifescan, Inc; Ascensia Diabetes Care Holdings AF; YPSOMED
AG; Omron Corporation; GE Healthcare; and Nipro Corporation are among the
leading companies in the glucose monitoring devices industry. Following are
among the key developments of market players operating in the market under
study:

In
April 2019, LifeScan Inc. received Health Canada’s authorization for sale
for its new OneTouch Verio Reflect system, and it will be available in
stores from mid?May 2019. It is the only blood glucose monitoring system
with the new blood sugar mentor messages.
In
April 2018, F. Hoffmann-La Roche LTD. launched its latest technology in
blood glucose self-monitoring: the Simply Smart Accu-Chek Guide system and
its unique spill-resistant SmartPack vial. The new pocket-friendly
SmartPack is specially designed to reduce everyday blood glucose testing
hassle.

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