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Glucose Meter Market

glucose meter market size was USD 9.50 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period. Increase in number of diabetic patients across the globe, rise in awareness regarding prevention of Diabetes, technological advancements in healthcare sector, and frequent launches of innovative glucose monitoring meters and devices are some key factors expected to drive market revenue growth during the forecast period.

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Glucose Meter Market

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  1. Glucose Meter MarketInsights Glucose Meter Market Analysis & Future Prospects for 2030

  2. Market Synopsis • The global glucose meter market size was USD 9.50 Billion in 2021 and is expected to register a revenue CAGR of 9.5% during the forecast period. • Increase in number of diabetic patients across the globe, rise in awareness regarding prevention of Diabetes, technological advancements in healthcare sector, and frequent launches of innovative glucose monitoring meters and devices are some key factors expected to drive market revenue growth during the forecast period. • According to the International Diabetes Federation, approximately 537 million people in the age group 20-79 years had diabetes in 2021. The number of diabetic patients is expected to reach 643 million by 2030 and 783 million by 2045. • In 2021, the disease has led to 6.7 million deaths and cost an exorbitant amount in healthcare expenditure. Moreover, in 2021, diabetes affected one in every six live births (21 million) during pregnancy and a total of 541 million adults were at a higher risk of developing type 2 diabetes.

  3. Growth Drivers: Technological advancements • Demand for glucose monitoring systems is increasing with rising awareness regarding the importance of monitoring blood glucose levels frequently for effective diabetes management. • Glucose monitoring devices are compact wearable devices with sensors and transmitters to detect and automatically transfer glucose values wirelessly to healthcare personnel, thereby ensuring real-time glucose monitoring. • Another major factor driving market revenue growth is development of novel technologies and introduction of glucose meters with more advanced features, such as highly accurate and reliable, which is expected to drive adoption of these meters, and support market revenue growth to a significant extent.

  4. Regional Perspective: • North America is anticipated to capture the largest share of revenue in the global glucose meter market. This is attributed to unhealthy eating habits, a surge in chronic diseases like diabetes, and a steadily growing geriatric population in the region. The North American market is further propelled by heightened awareness about diabetes prevention and monitoring. Additionally, the presence of advanced healthcare facilities, dynamic treatment approaches, and significant investments in research and development by both private and government sectors in countries such as the US and Canada are expected to foster market revenue growth. • In Europe, the market is poised to exhibit a steady revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. This is mainly due to the increasing prevalence of diabetes among the middle-aged population, driven by unhealthy lifestyles and physical inactivity. Notably, WHO Europe reports a significant number of diabetes cases in the region, with governments like Germany and the UK making substantial investments in healthcare modernization. • The Asia Pacific market is projected to experience a robust revenue CAGR from 2022 to 2030. This growth is attributed to the rising geriatric population and the increasing incidence of chronic diseases, particularly diabetes and obesity, in regional countries. The development of healthcare infrastructure and substantial investments in research and development are key drivers for revenue growth in the glucose meter market.

  5. Here are some recent advancements: • Ascensia Diabetes Care announced on February 11, 2022, that it has secured approval from the U.S. Food and Drug Administration (FDA) for the EVERSENSE E3 continuous glucose monitoring system, designed for a six-month usage period. The company is set to manufacture and launch the Eversense E3 sensor for diabetic patients in the U.S. in the second quarter of 2022. • On January 12, 2022, Hoffmann-La Roche introduced the new generation professional blood glucose management COBAS pulse system. This system combines the form factor of a high-performance blood glucose meter with user-friendly simplicity and expanded digital capabilities, resembling a pager or smartphone. • Dexcom Inc. received FDA approval on July 16, 2021, for the Dexcom Partner Web API. This allows third-party developers to integrate real-time continuous glucose monitoring data into various devices and health applications. • Abbott Laboratories Inc. declared on June 15, 2020, that its next-generation FreeStyle Libre 2 integrated continuous glucose monitoring system received FDA approval for use in diabetic adults and children aged four and above. This integrated continuous glucose monitoring (iCGM) system includes real-time alarms and measures glucose levels every minute with high accuracy over a 14-day period.

  6. Key Companies Profiled in Market • F. Hoffmann-La Roche AG, • Abbott Laboratories, • Ascensia Diabetes Care, • Medtronic PLC, • LifeScan Inc., • Nova Biomedical Corporation, • OMRON Corporation, • Nipro Medical Corporation, • ACON Laboratories Inc., • Prodigy Diabetes Care LLC, • B. Braun Melsungen AG, Get Sample Copy of the Report @ https://www.reportsanddata.com/download-free-sample/95

  7. Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Contact Us: John W (Head of Business Development) Reports and Data | Web:www.reportsanddata.com Direct Line: +1-212-710-1370 E-mail:sales@reportsanddata.com Blogs | Press Release | Industry News | Our competencies Browse More Upcoming Reports @https://www.reportsanddata.com/upcoming-reports Browse More Latest Reports @https://www.reportsanddata.com/report

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