Globally, the incidence of diabetes patients is rising constantly. So it is essential for patients around the world to have their blood glucose level continuously monitored to avoid the risk of diseases like kidney disorder, cardiovascular diseases, blood disorder, blindness, and other diseases.
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The incidence of diabetes among adults over 18 years of age have risen from 4.7% in 2012 to 8.5% by 2014 anticipated by World Health Organization. It is also expected that high blood glucose level and diabetes will be the 7th important cause of death by 2030. So Global Blood Glucose Device Market future is bright, it is predicted to be more than US$ 16 Billion by 2020.
Self-monitoring devices are one of the old methods of blood glucose monitoring, as they are used for decades. These devices are portable so they could be easily found in homes, hospitals and clinics. This device market is further classified into blood glucose meters, blood glucose strips, lancets.
According to International Diabetes Federation, in 2015 one in 11 adults is suffering from diabetes and this inclination is expected to rise to one in 10 adults by the year 2040. This shows that incidences of diabetes are constantly increasing and SMBG device market will grow internationally. However the challenge is that nearly half of the total diabetes inhabitants are not conscious that they have diabetes and more or less 75 percent of all people with diagnosed and undiagnosed diabetes live in lower and middle-income nations.
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Test Strips Market surpass the Blood Glucose Device Market (SMBG) Globally
The glucose test strips work by using the glucose oxidase enzyme that converts glucose in the blood sample into an electrical current. The United States, Russia and the United Kingdom jointly hold almost 63 percent of the total Test Strips market share whereas China leads in Blood Glucose meter market globally.
Competing Landscape and Key Vendors
The market of Blood Glucose Device is highly split with the presence of many big and small vendors, which is why it witnesses an extremely competitive environment. For the development of new products and enhance the competitiveness, most vendors partner collaborate with other vendors of the market. Moreover, to develop blood glucose meters and market test strips, they are also undertaking tactical alliances because of which the market presents a major opportunity for new players. Key players in this industry were Roche Diagnostics, Life Scan Inc, Bayer Health Care, and Abbott Laboratories.
The Report Studies the Global Blood Glucose Device Market on the basis of:
1. United States
2. United Kingdom
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