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Diabetes Monitors Market Growth at a Strong CAGR of 8.3% Along with Top Industry Players, Segments and Regional Outlook to 2023

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Diabetes Monitors Market Growth at a Strong CAGR of 8.3% Along with Top Industry Players, Segments and Regional Outlook to 2023

August 29
11:48 2019
Diabetes Monitors Market Growth at a Strong CAGR of 8.3% Along with Top Industry Players, Segments and Regional Outlook to 2023

Diabetes Monitors Market
The Recent Study Conducted by Market Research Future (MRFR), the Global Diabetes Monitor Market Will Capture An Impressive Growth Rate During The Review Period (2019-2023).

Further The Food and Drug Administration (FDA), and other government bodies are establishing a new standard for diabetes monitors accuracy. The FDA standard is majorly driven by technological advances, improved meter accuracy, reports of hospital and outpatient deaths, research studies, and consumer complaints about product. Due to increasing incidence rate of diabetes, competition among blood glucose monitor manufacturers is also rising. Existing and new marketers are continuously coming up with innovative products to meet the proposed FDA guidelines. In recent years various new glucose monitoring devices have been approved by FDA and European regulatory bodies such as DexCom G4 Platinum, Medtronic Diabetes Guardian Real-Time, Abbott Freestyle Libre, GMate Smart Blood Glucose Monitoring System by Philosys, Artificial pancreas system, and many others.

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Thus, development of new devices may emerge as the new revenue pockets for the growth of this market. Also Obesity directly contributes to the risk for diabetes. According to 2016 WHO report, more than 1.9 billion adults, were overweight and of these over 650 million were obese. In North American and Europe rate of obesity is highest among lower-income population, who live in urban areas are littered with fast-food outlets. In the Asia-Pacific region, obesity is highly prevalent in urban residents and then in rural areas and urban slums. Obesity is caused due to diet imbalance, Genetics etc. are leading to various risk factors for diabetes, high blood pressure, heart disease and other health problems. Risk factors of diabetes and high blood pressure are increasing steadily with rise in prevalence of obesity. Thus the increasing prevalence of obesity globally, offers a great opportunity for the growth of the global diabetes monitors market.

Diabetes is a metabolic disease that occurs when blood glucose level is too high either due to inadequate insulin production or because of low response towards insulin. The three most common type of diabetes are Type 1, Type 2, and gestational diabetes. Other less common type includes cystic fibrosis-related diabetes, and monogenic diabetes. The frequent blood glucose monitoring is critical for diabetic management, as the maintenance of standard glucose level, i.e. 4–8 mM, is the only way that a diabetic person can lead a healthy lifestyle. According to WHO, global prevalence of diabetes has risen from 4.7% to 8.5% in 2014? It is also estimated that around 1.6 million deaths have occurred in 2015 due to diabetes worldwide.

Key Players:

Panasonic, Abbott Laboratories, Dexcom, Inc., F. Hoffmann-La Roche Ltd , Medtronic, LifeScan, Inc., Sanofi, and others.

Segmentation:

The global diabetes monitors market is segmented on the basis of sample, type, component, and end-users.

On the basis of sample, the market is segmented into blood samples, sweat samples, urine samples, and others.

On the basis of type, the market is classified into point sample test based glucose monitors, continuous glucose monitors, and enzyme free sensor based glucose monitors. Continuous glucose monitors are further segmented into disposable sensor based CGM, and re-usable sensor based CGM.

On the basis of components, the market is classified into lancet, glucose test strips, and sensors. Sensors are further segmented into enzyme-based sensors, and enzyme-free sensors

On the basis of end -users, the market is segmented into diagnostic clinics, hospitals, and home.

Regional Outlook:

The global diabetes monitors market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.

The Americas is the leading market across the globe on account of increasing patient population. As per the National Diabetes Statistics Report suggested by Centers for Disease Control and Prevention, it is found that 9.4% of the U.S. population i.e. 30.3 million people had diabetes in 2015.

Europe accounts for the second largest market in the world. Europe consist of two regions namely Western Europe and Eastern Europe. Western Europe holds the major share of the market, which is majorly contributed by Germany, the U.K., and France. The increasing government support for development of the healthcare domain drives the European market.

Asia Pacific region is projected to be the fastest growing region during the forecast period. Increasing need for cost-effective glucose monitoring devices, rapidly improving technology, and the presence of huge patient pool drive the growth of this market in Asia Pacific region.

The Middle East and Africa holds the least share of the global market owing to the presence of poor and slow developing countries, especially, in African region.

Access Full Report with TOC at https://www.marketresearchfuture.com/reports/diabetes-monitors-market-4781

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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