The Blood Glucose Monitoring market is anticipated to grow with a CAGR of 7.3% over the forecast period of 2019-2028. Glucose monitoring devices are specially designed devices that help diabetic patients to keep a complete check on their blood glucose. These devices are designed to detect the actual sugar level in the blood. Glucose monitoring devices are available in various forms, such as glucometers, continuous glucose monitoring devices, etc. Hence, patients have various options to keep track of their blood sugar levels. The rising prevalence of diabetes, growing cases of chronic diseases, and rising geriatric population prone to such conditions are expected to be primary factors driving the market. The increasing unhealthy lifestyle could be a major factor responsible for the development of chronic conditions such as diabetes. All these conditions are expected to anticipate market growth in the forecast period.

Top Driver: Increasing Prevalence of Chronic Diseases is Expected to Anticipate the Market

Blood glucose monitors are widely used to track the glucose in the blood in various health conditions, including obesity, diabetes, cardiovascular diseases, and others. Also, the glucose level in the blood is continuously tracked during surgical interventions. The rising demand for fr blood glucose monitoring devices is expected to anticipate market growth immensely in the forecast period. Furthermore, the chronic conditions prevail in the elderly population extensively, and hence this population is ultimately fueling the market in the forecast period. Although, the high cost associated with the continuous blood glucose monitors and various product recalls from the market are expected to be some major restraints for the market.

The Single Point Blood Glucose Monitors Held the Largest Market Share

Based on the product, the market is segmented into single point blood glucose monitors, continuous blood glucose monitors, glucose monitoring strips, and lancets. The single point of blood glucose monitors is the largest segment in the market. Such a huge share is attributed to the easy use of the device, less pain, and economic cost. Continuous blood glucose monitors are expected to be the fastest-growing segment. Although these monitors are highly reliable and useful to keep a continuous check on the blood glucose, the minimally invasive procedure required to insert these monitors is expected to restrain the segment growth. On the basis of end-use, the market is segmented into hospitals, clinics, diagnostic centers, and home care.

North America to Occupy the Largest Maket Share

North America accounted for the largest market share owing to the rising number of chronic ailments such as diabetes, obesity, cardiac disease, etc.. the huge downfall in lifestyle and intake if the improper diet is expected to drive the market immensely in the region. The Asia Pacific is expected to be the fastest-growing segment attributed to factors such as the increasing geriatric population in the region, rising awareness about diabetes and its management, and increasing healthcare set up across the region. Europe held the second-largest market share and is expected to grow in the future.

Players to Focus on Developing Innovative Devices

The global Blood Glucose Monitoring market is expected to grow with a significant CAGR due to presence of various companies including Abbott Laboratories, ARKRAY, Inc., Bayer AG, Dexcom, Inc., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Medtronic plc, Nipro Diagnostics, Inc., and Terumo Medical Corporation ,  and others which are developing new products to drive the market growth.

The key players are largely focusing on new product development to keep their strong foothold in the market. Various players are also into mergers and acquisitions to expand their product line and increase profits

Scope of the Report

By Product

• Single point Blood Glucose Monitors
• Continuous Blood Glucose Monitors
• Glucose Monitoring Strips
• Lancets

By End-User

• Hospitals
• Clinics
• Diagnostic centers
• Homecare

By Region

• North America
• Europe
• Asia Pacific
• Rest of the World

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.