Diabetes Monitors: Improvement in Research Funding Structure in Diabetes Diagnosis and Treatment Likely to Boost The Market Growth at a Strong CAGR of 8.3% During The Forecast Period 2017-2023
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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.
Major Key Players in Global Diabetes Monitors Market
Some of key the players in the market are Panasonic, Abbott Laboratories, Dexcom, Inc., F. Hoffmann-La Roche Ltd , Medtronic, LifeScan, Inc., Sanofi, and others.
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.
- Medical Devices Companies
- Hospitals & Clinics
- Research and Development (R&D) Companies
- Government Research Institute
- Academic Institutes and Universities
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.
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