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/EIN News/ — Pune, Nov. 22, 2022 (GLOBE NEWSWIRE) — According to a new market research report titled, “Self-Blood Glucose Monitoring Market by Product Type (Testing Strips, Lancets, and Blood Glucose Meters), by Application (Type 1 Diabetes, Type 2 Diabetes, and Gestational Diabetes), and by End User (Hospitals, Home Settings, and Diagnostic Centers) – Global Outlook & Forecast 2022-2030″ published by Growth Plus Reports, the Self-blood Glucose Monitoring Market is expected to grow at a CAGR of 7.50% from 2021 to reach US$ 29.58 billion by 2030.
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Innovation in products is going to enhance access to diabetes management due technological advancements, and the quality of treatment offered to patients. Access to information needed to both patients and healthcare professionals is one of the main advantages that technology has offered in the healthcare industry. With the beginning of EHRs (Electronic Healthcare Records), not only hospitals and clinics have gained benefits but also self-management for health conditions have become easily possible. Market players have launched many new innovative self-monitoring products with advanced features which has made supervising disease quite convenient.
Excerpts from ‘by Product Type’
The global self-blood glucose monitoring market is divided into
based on product type. The market for self-blood glucose monitoring test strips has significantly increased over the years. Using diabetes test strips makes it simple to monitor blood sugar levels. Because non-diabetic people also use the gadget to monitor their health conditions, other segments including lancets and blood glucose meters will also experience profitable growth during the projection period. The blood glucose meters will experience steady increase in demand as it provides quick analyses of blood insulin levels for both hypoglycemic and hyperglycemic conditions.
Excerpts from ‘by Application’
make up the market segments for glucose monitoring based on applications. Type 2 diabetes segment dominated the market in 2021. The main risk factor for type 2 diabetes are high blood pressure and obesity. Further, recurrent insulin resistance is a risk factor for type 2 diabetes, having high blood pressure appears to raise the probability of developing the disease. The presence of NEFA, glycerol, hormones, cytokines, proinflammatory chemicals, and other substances are involved in development of insulin resistance are present in higher proportions in obese people, which is another major risk factor for type 2 diabetes. The continued high prevalence of type 2 diabetes will increase the need for self-monitoring tools.
Excerpts from ‘by Region’
regions make up the regional segments for self-blood glucose monitoring market. North America has the majority of market share in the global self-blood glucose monitoring market. Diabetes is highly prevalent in the region, and also has domicile of several market leaders, quick introduction of novel diagnostic and monitoring solutions in North America market is influencing the market growth. The International Diabetes Federation (IDF) projects that 51 million people in North America and the Caribbean have diabetes in 2021 and by 2045, this number will hit 63 million. The market for self-blood-glucose monitoring in Europe is characterized by a sharp rise in obesity, a large uptake of diabetes monitoring devices, and several developments. The large patient population, high rate of clinical trials and rapid product introductions in the market, which cause self-blood glucose monitoring market in Europe to occupy a prominent position in the global landscape.
Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the self-blood glucose monitoring market are
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Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).
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