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120 Pages report segments the blood glucose monitoring system market by Product (Self-monitoring and Continuous glucose monitoring devices) and Geography (North America, Europe, Asia, and the Rest of World (ROW))
NEW YORK, Oct. 31, 2022 /PRNewswire/ — The blood glucose monitoring system market size is expected to increase by USD 5.62 billion, at an accelerating CAGR of 9.06 % from 2021 to 2026.
The blood glucose monitoring system market witnessed maximum growth in the Product in 2020 owing to the growth of the self-monitoring of blood glucose (SMBG) segment. Similarly, North America occupied about 39% of the market share in 2020. The market growth in North America can be attributed to factors such as increased technological advances and increasing approvals by the US Food and Drug Administration (FDA) for new products. Request Free Sample Report.
The blood glucose monitoring system market growth is expected to be driven by the following factors:
In addition, the major trend boosting the blood glucose monitoring system market is the rising demand for continuous blood glucose monitoring (CGM) devices. By utilizing cutting-edge technologies like CGM systems, vendors in the blood glucose monitoring market have offered real-time monitoring for insulin-dependent patients. CG systems offer a number of advantages, such as reduced intrusiveness, less discomfort, real-time monitoring, and quick and precise findings.
According to Abbott figures, FreeStyle Libre users increased from 3.0 million in 2020 to 4.0 million in 2021. Only a few businesses are concentrating on noninvasive CGM research and development, and there aren’t many products available in the European market yet. The growing use of CGMs and the shift in focus of industry players toward noninvasive blood monitoring systems will boost the market growth during the forecasted period. Download Free Sample Report.
The market is driven by the introduction of novel products and highly sophisticated, rapidly evolving technologies, such as insulin pumps and SMBG and CGM systems by vendors operating in the market. The market is characterized by the presence of prominent vendors such as Abbott Laboratories, ACON Laboratories Inc., ARKRAY Inc., B. Braun SE, Dexcom Inc., DiaMonTech AG, F. Hoffmann La Roche Ltd., GlySens Inc., i-SENS Inc., Indigo Diabetes NV, Intuity Medical Inc., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, Nipro Corp., OK Biotech Co. Ltd., which hold significant market shares.
Additionally, vendors are also looking to expand their reach to emerging markets where there are ample growth opportunities and thereby capture the entire market. The vendors are focusing on introducing devices that are less invasive, less painful, wearable, and user-friendly to meet the unmet needs of people with diabetes.
Find additional highlights on the growth strategies adopted by vendors and their product offerings, Buy Sample Report.
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Blood Glucose Monitoring System Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 9.06%
Market growth 2022-2026
$5.62 billion
Market structure
Fragmented
YoY growth (%)
6.44
Regional analysis
North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution
North America at 39%
Key consumer countries
US, Finland, Sweden, China, and India
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Abbott Laboratories, ACON Laboratories Inc., ARKRAY Inc., B. Braun SE, Dexcom Inc., DiaMonTech AG, F. Hoffmann La Roche Ltd., GlySens Inc., i-SENS Inc., Indigo Diabetes NV, Intuity Medical Inc., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, Nipro Corp., OK Biotech Co. Ltd., PHC Holdings Corp., Prodigy Diabetes Care LLC, WaveForm Technologies Inc., and Ypsomed Holding AG
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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