The global glucose meter market size is expected to reach USD 18.05 billion in 2028 and register a revenue CAGR of 9.4% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is significantly spurred by surging demand for blood glucose meters among people with Type 1, Type 2, or gestational, or latent autoimmune diabetes. Other major factors prompting growth of the global glucose meter market are rise in global geriatric population, increasing prevalence of obesity and other lifestyle-induced conditions, rising demand for non-invasive glucose meters, and introduction of technologically advanced blood glucose meters with cutting-edge features and higher affordability.
A glucose meter is a portable medical device that measures blood glucose levels in the body and is typically used by people suffering from diabetes for regular monitoring. Monitoring one’s blood sugar level on a regular basis is one of the most effective ways to keep the diseases under control, and it also helps the physician manage the condition better. Portable blood glucose meters, also referred to as glucometers, are increasingly being used by people for their highly convenient use. Increasing prevalence of diabetes worldwide is one of the key factors behind the rising demand for glucose meters. As one of the most prevalent chronic diseases in the world, diabetes is acquired by factors such as significant lifestyle changes, lack of physical activity, unhealthy eating habits, and increasing consumption of alcohol. In 2019, the World Health Organization (WHO) reported nearly 1.5 million deaths caused by diabetes around the world.
Top Companies Profiled in the Report Include:
Roche Diagnostics, Medtronic plc., Johnson and Johnson, Bayer AG, Abbott Laboratories, Omron, Arkray, Inc., Grace, B. Braun, i-SENS, Inc., DiaMonTech GmbH, Infopia Co., Ltd, Hainice Medical Inc., Mendor, All Medicus Co, Ltd, 77 Elektronika Kft, Delta Group, Ok Biotech, Medisana, Nova Biomedical, Oak Tree Health, Inc., Omnis Health, Simple Diagnostics, US Diagnostics, SD Biosensor, Nipro Diagnostics, Sannuo Biological Sensing Co. Ltd., Yuwell Medical, and Yicheng.
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The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.
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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Glucose Meter market in these key regions.
Country-wise regional analysis covers:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Additionally, the report consists a detailed analysis of the segmentation of the Glucose Meter market based on product types and end-use/application offered in the Glucose Meter market.
- Among product type segments, the continuous monitoring devices segment is projected to reach the largest revenue share over the forecast period. Growing prevalence of diabetes across the world, higher risk of the disease among geriatric people, surging need for constant glucose monitoring (CGM) devices, and increasing use of wearable CGM devices are among the key factors accounting for the growth of this segment.
- Based on type, the wearable segment will account for the highest revenue growth rate over the forecast period, owing to several favorable factors. Growing awareness about preventive care for diabetes, rising demand for advanced continuous glucose monitoring devices, and increasing use of smartphones and various fitness wearable devices are some of the factors boosting growth of this segment.
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