DUBLIN--(BUSINESS WIRE)--The "Self-Monitoring Blood Glucose Devices Market by Type, by Application, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.
Global self-monitoring blood glucose devices market size is forecasted to reach $18.6 billion by 2023.
This growth in the market is attributed to the increasing prevalence of diabetes, surge in geriatric population, and technological advancements. Moreover, increasing awareness about diabetic care, rising obese population, and favorable in health insurance and reimbursement scenario are also driving the growth of the market, globally.
On the basis of type, the self-monitoring blood glucose devices market is categorized into strips, glucose meters, lancets and others. Among all types, strips held the largest share in the market, accounting for more than 80% contribution in 2017.
Self-monitoring blood glucose devices are mainly used for monitoring type 1 and type 2 diabetes. Between the two, the use of self-monitoring blood glucose devices is expected to exhibit faster growth for monitoring type 2 diabetes, with a CAGR of 6% during the forecast period. This is attributed to the rising prevalence of type 2 diabetes among adults, which is substantiated from the fact that, among all diabetes cases, 90% to 95% of the cases are found to be suspected with type 2.
Some of the risk factors of type 2 diabetes include increasing geriatric population, family history of diabetes, impaired glucose tolerance, and obesity and physical inactivity. Moreover, ethnicity is also a risk factor for the occurrence of type 2 diabetes. African Americans, American Indians, Hispanic/Latino Americans, and some Asian Americans and Pacific Islanders have high probability of developing type 2 diabetes.
- The market is projected to witness the fastest growth in APAC
- Key players are launching new products to increase their market share
Key Topics Covered
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size And Forecast
Chapter 6. North America Market Size And Forecast
Chapter 7. Europe Market Size And Forecast
Chapter 8. Apac Market Size And Forecast
Chapter 9. Latam Market Size And Forecast
Chapter 10. Mea Market Size And Forecast
Chapter 11. Competitive Landscape
Chapter 12. Company Profiles
- Johnson & Johnson
- Sinocare Inc.
- Arkray Inc.
- Nova Biomedical
- Bionime Corporation
- Medtronic Plc
- B. Braun Melsungen AG
- Abbott Laboratories
- Bayer AG
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