Global Blood Glucose Monitoring Devices Market to Reach Revenues of $26 Billion During the Period 2018−2024 - Market Research by Arizton

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Mar 12, 2019, 09:00 ET

CHICAGO, March 12, 2019 /PRNewswire/ -- According to Arizton's recent research report, the global blood glucose monitoring devices market is expected to reach revenues of more than $25 billion by 2024, growing at a CAGR of over 9% during 2018−2024.

Key Highlights Offered in the Report:

The availability of smartphones, wearable medical devices, and several mHealth applications for blood glucose tracking and diabetes management is gaining traction and boosting the demand for BGM devices in the market.
The inexpensive nature and the rapid availability of SMBG are fueling the growth of the global blood glucose monitoring devices market.
The emergence of latest-generation BGM devices with advanced features is creating lucrative investment opportunities for vendors in the market.
The availability of a large number of e-commerce portals will mark the shift towards online purchase of BGM devices in the global market.
The growing focus on home care services and increased demand for self-monitoring is making individuals the largest end-user in the global blood glucose monitoring devices market.
The US, Germany, France, Japan, and Spain accounted for a significant share of nearly 63% of the global market in 2018.

Key Offerings:

Market Size & Forecast by Revenue | 2018−2024
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation –A detailed analysis by product type, usage type, distribution channel, end-user type, and geography.
Competitive Landscape – Profile of 6 key vendors and 28 prominent players.

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Blood Glucose Monitoring Devices Market – Segmentation

This market research report includes detailed segmentations of the market by product types, usage types, distribution channels, end-user types, and geography.

The personal devices segment dominated more than half of the total market share in 2018, growing at a CAGR of over 10% by 2024.
The conventional devices segment dominated more than two-thirds of the total market share in 2018.

Market Segmentation by Product Type

Conventional BGM Devices
Continuous BGM Devices

Market Segmentation by Usage Type

Personal BGM Devices
Professional BGM Devices

Market Segmentation by Distribution Channel

Retail
Online

Market Segmentation by End-users

Individuals
Hospitals & Clinics
Others

Blood Glucose Monitoring Devices Market – Dynamics

The use of mobile applications to provide personalized, data-driven, and real-time support for diabetic patients is helping to manage the disease effectively. Major vendors are investing significant capital on R&D activities and technological platforms to develop compatible diabetes-related applications and data integration platforms for BGM devices in the global market.

Key Drivers and Trends fueling the Growth of the Global Market are:

New Product Approvals/Launches
Increasing Availability of Mobile Applications and Data Integration Platforms for BGM Devices
Emergence of Non-invasive Blood Glucose Monitoring

Blood Glucose Monitoring Devices Market –Geography

The global blood glucose monitoring devices market by geography is segmented into North America, APAC, Europe, Latin America, and MEA.Advancements in healthcare infrastructure, the rise in healthcare expenditure, and favorable public and private initiatives for an increase in the healthcare access in APAC will boost revenues in the market.

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Market Segmentation by Geography

North America

US
Canada

Europe

Germany
France
Spain
UK

APAC

China
Japan
South Korea
India

Latin America

Brazil
Mexico

MEA

Saudi Arabia
Iran

Geographical Market Size & Forecast | 2018−2024

Revenue
End-user
Key Countries

Major vendors in the global market:

F. Hoffmann-La Roche
Abbott
Dexcom
LifeScan
Medtronic
Ascensia Diabetes Care

Other prominent vendors include A. Menarini Diagnostics, ACON Laboratories, AgaMatrix, Alliance International, Andon Health (Tianjin Jiu'an Medical Electronics), ARKRAY, ApexBio, B. Braun Melsungen, Bionime, BioTelemetry, DarioHealth, Terumo, Trividia Health, BTNX, Bioptik, Beurer, Biotest Medical Corp., Medtrum Technologies, Sanofi, 77 ElektronikaKft., Integrity Applications, Medisana, Philosys, TaiDoc Technology, Omnis Health, Ypsomed, Nova Biomedical, and Rossmax International.

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SOURCE Arizton Advisory & Intelligence