Growing Popularity of Smart, Compact, Digital, Ergonomic, and Wireless Glucose Monitoring Devices Drives Healthy Market Growth
Published: October 2017
- Code: MCP-3420
- Pages: 417
- Tables: 155
- Companies: 77
GLUCOSE MONITORING DEVICES: A RESEARCH BRIEF
The global market for Glucose Monitoring Devices and Systems is forecast to exceed US$17.5 billion by 2024, driven by the epidemic spread of diabetes across the world, the resulting need for easier, economic, efficient monitoring and management of the disease and rising popularity of minimally invasive, smart, connected, and intelligent glucose monitoring solutions in response to the need. Few of the factors feeding the diabetes epidemic include growing base of obese population; aging population; and genetic inheritance that leads to inter-generational disease spread. The United States represents the largest market worldwide, followed by Europe. With China and India topping the global charts in terms of diabetic population, Asia-Pacific is emerging as the most promising market with a CAGR of 9.5% over the analysis period. The growth in the region is led by factors such as rising literacy rates, parallel increase in awareness over the disease and its morbid complications; increased emphasis on proactive self-care of chronic diseases; rising per capita healthcare spending among the middle class and availability of easy-to-use OTC glucose monitoring and maintenance devices; high levels of digital literacy among the urban population, familiarity with smartphones and strong potential for emerging concepts like smartphone-based glucose monitoring.
- Viral Popularity of Smartphones, Tablets and Other Portable Computing Devices with Enhanced Hardware and Software Capabilities Coupled with an Evolving App Ecosystem Drives Interest in Smartphone Base Monitoring
- Rising Incidence of Type 1 & Type 2 Diabetes in Children and Adolescents Particularly in Urban Areas in Developing Countries Lends Traction to Market Growth
- Growing Investments in R&D and Advancements such as Nanotechnology ‘Tattoo’ Blood Glucose Readers to Pave the Way for the Future of Smart and Innovative Glucose Monitoring
- Continuous Glucose Monitoring Devices (CGM), and Non-Invasive Glucose Monitoring Devices (NIGM) Grow in Popularity Over Conventional Blood Glucose Monitoring Devices (BGM)
Summary of Findings
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Timeline for Analysis
- US, Canada, Japan, Europe (France, Germany, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America and Rest of World
Geographic Markets Analyzed
- Product Segments:
- Self Glucose Monitoring (Blood Glucose Strips, Blood Glucose Meters, & Lancets), and Continuous Glucose Monitoring
Market Segmentation & Classification
- Abbott Diabetes Care, Inc.
- ACON Laboratories, Inc.
- AgaMatrix, Inc.
- Alive Technologies Pty. Ltd.
- Apex Biotechnology Corp.
- ARKRAY, Inc.
KEY RESEARCH DELIVERABLES
- Review of Industry/Market Structure
- Analysis of Trends & Drivers
- Insights on Macro Market Scenarios
- Market SWOT Analysis
- Latent Demand Forecasts & Projections
- Comprehensive Geographic Market Analysis
- Presentation Ready Facts & Statistical Data Findings
- Coverage of Major/Niche Players, Market Shares & Competition
- Coverage of major Company/Technology/Product/Financial Stories
- Extensive Product/Service/End-Use/Technology Coverage Where Applicable