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(Medical-NewsWire.com, March 27, 2020 ) The global blood glucose monitoring system market is projected to reach USD 10.58 Billion by 2022 from an estimated USD 8.35 Billion in 2017, at a CAGR of 4.8% during the forecast period. The key factors driving the growth of this market include rising prevalence of diabetic population, and increasing innovative product launches resulting in increased adoption amongst patients.
By product, the self-monitoring blood glucose systems segment is expected to account for the largest share of the market in 2017
On the basis of product, the blood glucose monitoring system market is segmented into self-monitoring blood glucose systems and continuous glucose monitoring systems. In 2017, the self-monitoring blood glucose system segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to product enhancements resulting in improved accuracy and requirement of less blood sample, and their high adoption in emerging markets.
By testing site, the fingertip testing segment is expected to account for the largest share of the market in 2017
On the basis of testing site, the blood glucose monitoring system market is segmented into fingertip testing and alternate site testing. In 2017, the fingertip testing segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to accuracy and high reliability on fingertip testing.
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By patient care setting, the self/home care segment is expected to account for the largest share of the market in 2017
On the basis of patient care setting, the blood glucose monitoring system market is segmented into self/home care and hospital & clinics. In 2017, self/home care segment is expected to account for the largest share of the global market. The large share of this segment can be primarily attributed to factors such as growing diabetic population, and increasing preference for less invasive technologies that can be used at home.
By application, the type 2 diabetes segment is estimated to dominate the market in 2017
Based on application, the market is segmented into type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 2 diabetes segment is expected to command the largest share of the blood glucose monitoring system market in 2017. The large share of this segment can be attributed to increasing incidence of type 2 diabetes, and increasing product launches to enhance patient comfort.
North America to dominate the market in 2017
In 2017, North America is expected to account for the largest share of the blood glucose monitoring system market, followed by Europe. Factors such as a favorable reimbursements, awareness programs, rising FDA approvals in the US, and rising prevalence of diabetes in the US and Canada are contributing to the large share of North America.
The key players in the global blood glucose monitoring system market are Roche (Switzerland), Abbott (US), LifeScan (US), Ascensia (Switzerland), Medtronic (Ireland), Dexcom (US), Ypsomed (Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and Nova Biomedical (US).
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