United States Blood Glucose Meter Industry
New Study On “Blood Glucose Meter – United States Market Outlook (2019-2022)” Added to Wise Guy Reports Database
According to the latest report added to the online repository of Wise Guys Reports (WGR) the United States Blood Glucose Meter Market has witnessed an unprecedented rise from a valuation of USD 8.10 Billion in 2016 and the extrapolated growth is expected to touch USD 10.58 Billion by 2022 registering a CAGR of 4.8% during the forecast timeline.
The driving factors for the market growth can be contributed to the increasing number of diabetic patients globally followed by a series of new product launches backed by technological advancements.
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The key players in the global blood glucose monitoring system include F.Hoffman-la Roche (Switzerland), Abbott Laboratories (US), Ypsomed (Switzerland), B. Braun Melsungen (Germany), Nipro (Japan), Sanofi (France), LifeScan (US), Ascensia Diabetes Care (Switzerland), Medtronic (Ireland), Dexcom (US) , ARKRAY (Japan), Prodigy Diabetes Care (US), ACON Laboratories (US), and Nova Biomedical (US).
Roche is one of the leading frontrunners in the market by offering an extensive range of glucometers and lancets. To retain its position in the competitive market landscape in diabetes care, the company expands its product portfolio through acquisitions like mySugr GmbH which is likely to expand Roche’s product portfolio in the area of diabetes management. Globally Roche has a strong footing in North America, Europe, and Asia Pacific. Their distributions channels help cater to the rising demand for diabetes care devices across the globe.
United States Blood Glucose Meter Market: Segmental Analysis
The United States blood glucose meter market can be broadly categorized based on product type, testing site, patient care setting and application.
Categorization by product reveals 2 major systems namely Self-monitoring blood glucose systems (Blood Glucose meters, testing strips, lancets and lancing devices) and Continuous Glucose monitoring systems (sensors, transmitters, receivers). The continuous glucose monitoring system is expected to register more growth due to more inclination toward minimally invasive treatment procedures.
By testing site the blood glucose monitoring system can be labelled as fingertip testing and alternate site testing. Better reliability and accuracy of fingertip testing will propel the growth of fingertip testing in the forecast period.
Based on the patient care system we have self or home care and hospitals and clinics. The self/home care segment is expected to account for the largest of the global blood glucose monitoring system market. This is a culmination of the growing diabetic population supplemented by product launches enhancing patient comfort at home.
Finally by application the blood glucose monitoring market is broadly divided into Type 2 Diabetes, Type 1 Diabetes and Gestational Diabetes. Type 2 Diabetes has more applications thus taking up the lion’s share of the market landscape owing to the rising demand for minimally invasive procedures supported by better product launches.
United States Blood Glucose Meter Market: Regional Analysis
The market landscape of the Blood Glucose Meter market is mainly concentrated in North America, Asia Pacific and Europe. North America is the mammoth contributor by dominating largest share of the market propelled by better reimbursement programs, awareness camps and greater number of FDA approvals and rising count of diabetic patients in the region. Other countries such as China and India suffer from inadequate reimbursement policies with restrictive coverage that pulls back the growth as most of the tests are self funded by patients.
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