Global $24 Bn Blood Glucose Testing Markets, 2021-2026 by Material Type, Application, Distribution Channel, and Competitive Analysis – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Blood Glucose Testing Market (2021-2026) by Material Type, Application, Distribution Channel, and Geography , Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Blood Glucose Testing Market is estimated to be USD 14.75 Bn in 2021 and is expected to reach USD 24.03 Bn by 2026, growing at a CAGR of 10.25%.
Global rise in the prevalence and incidence of diabetic population, increasing adoption of continuous glucose monitoring (CGM) systems, rapid technological advancements, and increasing awareness are some of the key factors propelling the growth of this market. Also, rapid growth in the aging population is further stimulating the demand for Blood Glucose Monitoring Devices.
However, inadequate reimbursement, high cost associated with the Application of CGM systems, and error in the accuracy of measurement are some of the key factors hampering the growth of this market.
Market Segmentation
- By Material Type, the Blood Glucose Testing Market is classified into Single Point Blood Glucose Meters, Glucose Monitoring Strips, Lancets, and Continuous Glucose Monitoring Systems. Continuous Glucose Monitoring Systems are further sub-divided into Sensors, Transmitters and Receivers, and External Monitors.
- By Application, the Blood Glucose Testing Market is divided into Hospitals & Clinics, Diagnostic Centers, and Home Settings.
- By Distribution Channel, the market is divided into Offline and Online.
- By Geography, North America is expected to lead the market.
Market Influencers
Drivers
- Benefits of CGMS Over POC Glucometers
- Rising Prevalence of Diabetic Population
- Rapid Technological Advancements and Increasing Awareness
Restraints
- Manufacturing Defects or Error in Accuracy on Measurement
- Lack of Skilled Professionals
Opportunities
- High Adoption Rate of CGMS In-Home Healthcare
- Potential Undiagnosed Patient Population
Challenges
- Reimbursement Problems and Stringent Government Regulations
Recent Developments
- Australian scientists develop pain-free, low-cost blood sugar tests for people with diabetes – July 13, 2021.
- Abbott brings in consumer-centric glucose monitoring device – Nov 2, 2020
- Medtronic Guardian Connect Continuous Glucose Monitoring (CGM) System for Diabetes Now Compatible with Android Devices – May 22, 2020
Company Profiles
Some of the companies covered in this report are
- Abbott Laboratories
- ARKRAY, Inc.
- Bayer AG
- Dexcom, Inc.
- F. Hoffmann-La Roche Ltd
- Johnson & Johnson Ltd.
- Medtronic plc
- Nipro Diagnostics, Inc.
- Terumo Medical Corporation
- AgaMatrix AG
- Ascensia Diabetes Care Holdings AG
- Cambridge Sensors Limited
- GE Healthcare
- Integrity Applications
- Lifescan, Inc.
- OrSense Ltd.
- Owen Mumford Ltd.
- Prodigy Diabetes Care, LLC.
- Senseonics Holdings, Inc.
- Trividia Health, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r3dq6b
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