May 19, 2024

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Blood Glucose Monitoring System Market

Growth of Blood Glucose Monitoring System Market as Forecasted by Research Nester

The surge in the number of patients with type-1 or type-2 diabetes is anticipated to promote the growth of the global blood glucose monitoring system market and help to attain a revenue of USD 46 Billion by 2033.

The recent market research analysis of “Blood Glucose Monitoring System Market: Global Demand Analysis & Opportunity Outlook 2033” by Research Nester delivers an in-depth competitors analysis and a detailed overview of the global blood glucose monitoring system market in terms of market segmentation by device type, modality type, disease type, distribution channel, and by region over the forecast period, i.e., 2023-2033.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with a detailed discussion on current and future market trends that are associated with the growth of the global blood glucose monitoring system market. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.

Blood glucose monitoring system market to find numerous growth opportunities on the back of increasing prevalence of diabetes and evolving healthcare technologies finds Research Nester

The global blood glucose monitoring system market is estimated to grow majorly on account of the surge in cases of diabetes across the globe. According to International Diabetes Federation (IDF), in 2021, 537 million people were diagnosed with diabetes, and it is expected to increase to 640 million by 2030 and around 783 million by 2045. Moreover, increasing access to health care and health expenditures is estimated to boost market growth. As per the data from the World Bank, 9.83% of the global GDP was spent on health expenditures in 2019.

The market research report also includes other growth factors and challenges that are associated with the growth of the global blood glucose monitoring system market. Some of the major growth indicators are:

Growth Drivers:

  • Growing Investment in Diabetic Research
  • Increasing Perforation of Continuous Blood Glucose Monitoring (CGM) Devices

Challenges:

Lower diagnosis & treatment rates, and unfavorable reimbursement policies for the blood glucose monitoring system are some of the major factors anticipated to hamper the growth of the global blood glucose monitoring system market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester’s analysis indicates robust growth for the market during the forecast period.

The global blood glucose monitoring system market is segmented on the basis of by-products into self-monitoring devices and continuous glucose monitoring devices. Out of these, the continuous glucose monitoring device is anticipated to hold the largest market share by the end of 2033 owing to the rise in adoption of CGM for their ability to monitor the patient’s blood glucose level regularly.

By region, the North American region market is to generate the highest revenue by the end of 2033. This growth can be attributed to the efficient healthcare sector and rising cases of diabetes in the region.

The research is global in nature and covers a detailed analysis of the blood glucose monitoring system market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).

In addition, an analysis comprising of the global blood glucose monitoring system market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. has also been covered and displayed in the research report.

This report also provides the existing competitive scenario of some of the key players of the global blood glucose monitoring system market which includes company profiling of F. Hoffman-La Roche Ltd, LifeScan, Inc., Ascensia Diabetes Care Holding AG, Medtronic plc, Dexcom, Inc., Nipro Corporation, Prodigy Diabetes Care LLC, ACON Laboratories, Inc., Nova Biomedical Corporation, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.

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On the whole, the report depicts a detailed overview of the global blood glucose monitoring system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.