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(Medical-NewsWire.com, February 03, 2016 ) According to the International Diabetes Federation (IDF), which is primarily involved in raising awareness about diabetes, and promotes prevention and diabetes care activities globally approximately 382 million people were suffering from diabetes in 2013 and the number is expected to reach 592 million by 2035.
Explore more about Global Self-Monitoring Blood Glucose (SMBG) Market at: https://www.psmarketresearch.com/market-analysis/self-monitoring-blood-glucose-market
Additionally, the technological advancement in SMBG devices, adequate reimbursement policies, and initiatives taken by various government associations to raise awareness about diabetes and its management are also driving the growth of the market. The increasing numbers of mergers and acquisitions is one of the major trends observed in the market. In terms of products, blood glucose test strips hold the largest share in the global SMBG market.
The stringent regulation for the approval of SMBG devices is restraining the growth of the global market. Moreover, the lack of awareness about innovative applications of SMBG monitoring devices is also hindering the growth of the market, especially in the developing countries. However, the countries, such as China and India are expected to witness considerable growth during the forecast period, due to increasing prevalence of diabetes, growing geriatric population, and increasing number of obese and overweight people.
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North America and Europe are the major markets, due to increasing obesity, adequate reimbursement policies, and growing demand for SMBG devices in the regions. The U.S., followed by Canada, is the largest market for SMBG in North America. Whereas, Germany, the U.K., France, and Italy are some of the major countries holding significant shares in the European market.
The Asian SMBG market is growing with a significant rate, owing to increasing prevalence of diabetes, growing number of obese and overweight people, and increasing healthcare spending in the region. In addition, initiatives taken by various government associations to raise awareness about diabetes and its management are also supporting the growth of the Asian SMBG market. The countries, such as India, Japan, and China are the major markets for SMBG in the region.
Browse Related Market Research at: https://www.psmarketresearch.com/industry-report/medical-devices
Some of the major players operating in the global SMBG market include Abbott Laboratories, Roche Diagnostics, LifeScan Inc., Bayer Healthcare, Wuhan HNC Technology, B. Braun Melsungen AG, Animas Corporation, Medtronic, Grove Instruments Inc., Bionime Corporation, and Dexcom Inc.
Self-Monitoring Blood Glucose Market Segmentation
By Product
Blood Glucose Test Strips
Blood Glucose Lancet
Blood Glucose Meter
Others
By Geography
North America
Europe
Asia
Latin America
Rest of the World
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