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(Medical-NewsWire.com, May 22, 2020 ) The global blood glucose monitoring systems 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%. The blood glucose monitoring systems market is well established owing to the dominance by prominent market players. In 2016, Roche (Switzerland), Abbott (US), LifeScan (US), and Ascensia (Switzerland) held a share of approximately 65% to 70% of the self-monitoring blood glucose systems market whereas, Medtronic (Ireland), Dexcom (US) and Abbott (US) held a share of approximately 95% to 100% of continuous glucose monitoring systems market.
North America would continue to be the largest market for power system simulators followed by Asia Pacific during the forecast period. The global market is dominated by major players including ABB (Switzerland), Schneider Electric (France), Siemens (Germany), GE (US), ETAP (US), RTDS Technologies (Canada), MathWorks (US), OPAL-RT (Canada), and Eaton (Ireland).
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Some of the other players competing in this market are Ypsomed (Switzerland), B. Braun (Germany), Nipro (Japan), Sanofi (France), ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and Nova Biomedical (US).
The Roche (US) dominated the self-monitoring blood glucose systems market in 2016. In the field of blood glucose monitoring, the company offers an extensive range of glucometers, lancing devices, and testing strips under its diabetes care segment. The company has a widespread presence across the North America, Europe, Asia and Latin America. The firm also aims to enter APAC countries like China by establishing manufacturing centers to cater to the rising demand for diabetes diagnosis and treatments across the globe. For instance, in 2014, Roche invested USD 409.5 Million in a new manufacturing facility in Suzhou, China with an aim of fulfilling the growing demand for diagnostic products in China and Asia Pacific region. The company has an experience of more than 40 years in the diabetes care. Roche commands the world’s highest market share in self-monitoring/traditional blood glucose systems market.
Medtronic (Ireland) dominated the continuous glucose monitoring systems market in 2016. The company offers products for intensive insulin management, non-invasive diabetes therapies, and other diabetes service & solutions. Medtronic was the first company to introduce the continuous glucose monitoring system in the market. The company focuses on collaborations and agreements to improve the patient experience. For instance, in 2016, Medtronic Partnered with Fitbit with an aim of integrating health and activity tracking with its iPro Professional CGM system app and iPro2 myLog. This integration will allow patients to view glucose levels and physical activity data in one application. The company has a strong geographic reach in approximately 160 countries worldwide. The company sells its products through direct sales representatives in the US, and through a combination of distributors and direct sales representatives outside the US. Medtronic focuses developing integrated devices that will enable data sharing between patients, their care providers, devices, and healthcare professionals to help generate actionable insights.
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