Self-Monitoring Blood Glucose (SMBG) Devices Market Industry Outlook, Opportunities in Market And Expansion By 2031

Non-invasive Blood Glucose Monitoring Devices Market: IntroductionDiabetes is a chronic disease that affects more than 8.5% of the global population.

Monitoring the blood glucose levels (BGLs) on a regular basis is necessary to manage diabetes progression.

Grab an exclusive PDF Brochure of this reportKey Drivers and Restraints of Global Non-invasive Blood Glucose Monitoring Devices MarketDiabetes has evolved as one of the principal health care epidemics of the modern era.

Moreover, obesity is a key risk factor for diabetes.

According to the American Diabetes Association, an estimated 30.3 million people in the U.S. had diabetes in 2015; among these 1.25 million were children.

In January 2020, Integrity Applications, Inc. received CE Mark approval for a major enhancement to GlucoTrack, allowing users to perform the calibration process by themselves, without the need of a certified calibrator.Non-invasive glucose monitoring devices are based on various technologies, which detect characterization of the biological properties of the skin or biological fluids.

To avoid further complications, regular monitoring of the glucose level is required.As per the International Diabetes Federation, the number of diabetic population is estimated to touch 642 million by the end of 2040 across the globe.

Therefore, one out of every ten adult is estimated to suffer from diabetes by 2040.

The management and treatment of diabetes is likely to be the prime focus area of the healthcare stakeholders and department.

The surging incidences of diabetes will offer the market huge growth opportunities which will compel and attract market players to develop product line extensions.On the contrary, the high cost of diagnosis and monitoring of the diseases is considered as a top factor vitiating the market growth across the globe.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/557 Global Blood Glucose Monitoring Market: Segmental AnalysisThe Global Blood Glucose Monitoring Market has been segmented on the basis of application, product type, and end user.By mode of product type, the global blood glucose monitoring market has been segmented into continuous glucose monitoring devices (CGM), invasive glucose monitoring devices, flash glucose monitoring devices, and others.

Among these, the type 2 diabetes is likely to command the major share in the global market due to the rising prevalence of type 2 diabetes and growing innovative product launches with less invasive techniques.By mode of end users, the global blood glucose monitoring market has been segmented into hospitals, diagnostic centers, research centers, clinics, and home care diagnostics.

Among these, the home care diagnostics is likely to gain prominence owing to the surging diabetic population, rising awareness regarding regular monitoring of the glucose levels, and growing product launches which enhances the patient comfort at home.Regional InsightsGeographically, the blood glucose monitoring market span across regions namely, Asia Pacific, America, Europe, and the Middle East & Africa.Considering the global scenario, the American region is estimated to command the largest market share and is likely to maintain its pole position in the coming years.

Market HighlightsThe blood glucose monitoring market is one of the rapidly growing markets across the world owing to huge growth in urbanization leading to the increased incidence of obesity, unhealthy diet, and physical inactiveness, which has increased the diabetic population around the globe.

Furthermore, invention of new technology, increasing awareness, investment in research and development have boosted the blood glucose monitoring market globally.

However, high cost associated with monitoring and diagnosis of disease may restrain the market growth.

The global blood glucose monitoring market is expected to grow at a CAGR of 7.1% during forecasted period 2017-2023.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/557Regional AnalysisGeographically, global blood glucose monitoring market is segmented into America, Europe, Asia Pacific and the Middle East & Africa.The Americas commands the largest blood glucose monitoring market due to the presence of a well-developed healthcare sector and large patient population.

Americas dominate the global blood glucose monitoring market owing to high healthcare spending, increasing population, increased research & development activities and the concentration of major companies have fuelled the growth of the market in this region.Europe holds the second position in the global blood glucose monitoring market owing to the government support for research & development and availability of funds for research.

According to WHO, Globally, around 3.4 million people died annually owing to high blood glucose and almost 80% of these deaths occur in lower- and middle-income countries, and this statistics is coupled with the fact that almost 50% were people aged under 70 years.Asia Pacific is the fastest growing blood glucose monitoring market owing to the presence of rapidly developing healthcare technology, huge patient population, high healthcare expenditure, and increase in prevalence of nerve injuries or disorder related to nerve.Moreover, increasing demand for new treatment methods in countries like India and China are likely to emerge as the fastest growing market across the globe.SegmentationGlobal blood glucose monitoring devices market is segmented on the basis of product type, application, and end user.

Global Blood Glucose Monitoring Market Information: By Product Type (Invasive Glucose Monitoring, CGM, Flash Glucose Monitoring), Application (Type 1 Diabetes, Type 2 Diabetes), & End User (Diagnostic Centers, Hospitals, Clinics) - Forecast till 2027Blood Glucose Monitoring Market HighlightsBlood glucose monitoring can be referred to as the procedure of testing diabetes level in the blood.

The global blood glucose monitoring market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 7.1% during the forecast period (2017-2023).The blood glucose monitoring market is considered one of the rapidly expanding markets, mainly due to the surging growth in urbanization, leading to soaring incidences of obesity.

Moreover, the lack of reimbursement policies for such devices will remain a major barrier to the adoption of such devices.Global Blood Glucose Monitoring Market: Segmental AnalysisThe global blood glucose monitoring market has been segmented on the basis of application, product type, and end user.By product type, the blood glucose monitoring market is segmented into continuous glucose monitoring devices (CGM), invasive glucose monitoring devices, flash glucose monitoring devices, and others.

Of these, type 2 diabetes will gain prominence due to rising incidences of type 2 diabetes and innovative product launches with less invasive technologies.The end users segment comprises hospitals, diagnostic centers, research centers, clinics, and home care diagnostics.

As per the CDC, the prevalence of diagnosed as well as undiagnosed diabetes population in 2015 was around 30.3 million people of all ages.

The market is predicted to experience a surge due to the presence of well-developed technology, rising R activities, increased spending on healthcare, and high concentration of major players in the region.Europe acquires the second spot in the blood glucose monitoring market due to environmental pollutants, socioeconomic deprivation, and psychological factors.