Global Blood Glucose Meters Market Report 2020 with Profiles of Abbott, Roche, Medtronics, Ascensia and Dexcom - ResearchAndMarkets.com

DUBLIN--()--The "Blood Glucose Meters Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

The global blood glucose meters market was valued at about $2.81 billion in 2018 and is expected to grow to $3.71 billion at a CAGR of 7.2% through 2022.

The blood glucose meters market consists of sales of blood glucose meters that are used to measure and display the amount of sugar (glucose) in the blood.

North America was the largest region in the blood glucose meters market in 2018. This region is expected to remain the largest during the next five years. The blood glucose meters market in North America is forecasted to register the highest CAGR during 2018-2023, followed by Asia Pacific.

Rising prevalence of diabetes is driving the blood glucose meters market. The changing lifestyle, increase in alcohol consumption, physical inactivity and unhealthy eating habits are leading to an increase in obesity across the globe. Such exponential growth in obese people is causing a stern increase in the purchase of blood glucose meters. Due to obesity, fat tissues release more fat molecules into the blood affecting insulin responsive cells, which results in reduced insulin sensitivity, in turn, causing diabetes. In 2017, according to the study by the International Diabetes Federation (IDF), there will be a 48% increase in diabetes around the world by 2045. According to the World Health Organization (WHO) in 2016, nearly 1.6 million deaths were caused by diabetes.

The blood glucose meters market growth is restricted due to lack of awareness of diabetes. Hypo unawareness is a common term used to describe the people who have diabetes, especially type 1 diabetes, it is very difficult to notice when they have low blood glucose, hypoglycemia. Such lack of awareness of diabetes and its effects reduces the regular monitoring or check-ups relating to diabetes. For example, in 2015, close to 30.3 million Americans had diabetes, but more than 1 in 4 did not know that they had the disease. Also, in 2015, NHS UK estimated that 3.9 million people suffered from diabetes, while over 0.6 million were unaware or undiagnosed.

The blood glucose meters market growth is restricted due to lack of awareness of diabetes. Hypo unawareness is a common term used to describe the people who have diabetes, especially type 1 diabetes, it is very difficult to notice when they have low blood glucose, hypoglycemia. Such lack of awareness of diabetes and its effects reduces the regular monitoring or check-ups relating to diabetes. For example, in 2015, close to 30.3 million Americans had diabetes, but more than 1 in 4 persons are unaware of it. Also, in 2015, NHS UK estimated that 3.9 million people suffered from diabetes, while over 0.6 million were unaware or undiagnosed.

FDA regulates the blood glucose meters. In October 2016, FDA has released its guidance for the accuracy of blood glucose meters. For blood glucose meters used in home by patients with diabetes, FDA states that 95% of the measured blood glucose levels should be within 15% of the lab tested value and 99% of the measured values should be within 20% of the lab tested value. For point of care blood glucose monitoring devices, 95% of the monitored values must be within the range of 12% for blood sugars more than 75mg/dl and must be within 12mg/dl for blood sugars less than 75mg/dl. Also, 98% of the meter values must be within 15% of the range for blood sugars more than 75mg/dl and must be within 15mg/dl for blood sugars less than 75mg/dl.

In October 2018, Platinum Equity, California-based private equity investment firm acquired LifeScan, Inc. from Johnson & Johnson for $2.1 billion. With this acquisition, Platinum Equity helps LifeScan to improve the quality of products. LifeScan, Inc., a diagnostic systems manufacturer with products focusing on the diabetes market, specifically blood glucose monitoring systems.

Major players in the market are Abbott, Roche, Medtronics, Ascensia and Dexcom.

Other Companies Featured

  • Johnson & Johnson
  • Arkray
  • Acon
  • LifeScan
  • Agamatrix Inc
  • Trivida
  • Medisana
  • Bayer AG
  • B Braun Medical
  • 77 Elektronika Kft
  • Bionime Corp
  • Rossmax
  • Omron Healthcare
  • Grace Medical
  • I Sens
  • Infopia
  • Hainice Medical
  • Mendor
  • All Medicus
  • Delta
  • Terumo Corp
  • Becton & Dickinson and Co
  • Tandem Diabetes Care

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900