Global Market Research Report on Glucose Monitoring Device Market size 2016-2021
According to the report "Glucose Monitoring Device Market", published by Market Data Forecast the global market is projected to reach USD 2.3 Billion by 2021, at a CAGR of 6.24% from 2016 to 2021.
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Blood glucose monitoring devices are used to monitor the blood glucose in patients suffering from diabetes or other glucose-related diseases like glucose intolerance. Technological innovation such as launch of artificial pancreas has taken diabetic care management to a next level and they are further putting efforts in advancing closed loop algorithms. Thus, advancement in Glucose Monitoring systems makes possible early detection of hypoglycaemia in an easy manner in comparison to infrequent point-of-care glucose meter measurements.
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The rising obese population and rapid industrialization and urbanization have also contributed to the growth of this market. With the rise in the number of cases of diabetes being recorded worldwide, it is necessary for patients around the world to have their blood glucose level continuously monitored to avoid the consequences of high glucose level like cardiovascular diseases, a blood disorder, blindness, kidney disorder and many other conditions. Which gives high growth opportunity for the market.
1) By Device Type:
•Continuous Wearable Devices
-Transmitters and Activators
-Blood Glucose Meters
-Blood Glucose Strips
-Haemoglobin A1C Testing Kits
2) By Application:
•Clinics and Diagnostic Centers
3) By Geography:
•Middle-East and Africa
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The major companies dominating this market are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc, AgaMatrix Inc, Arkray Inc, Medtronic, DexCom Inc, Nova Biomedical Corporation and Teruma Europe NV.
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