Diabetes Monitor Market Emerging Growth Comprehensive Market Study Innovative Business Growth Outlook Forecasting By 2027
The global diabetes monitor market is segmented by sample into sweat, blood, urine and others; by product type into point sample test based glucose monitors, continuous glucose monitoring devices, self-monitoring devices, enzyme free sensor based glucose monitors; by components into glucose test strips, lancet and sensors; by end users into hospitals, diagnostic clinics and home. The diabetes monitoring equipment industry is primarily focusing on the geriatric and obese among other people who are having diabetes. Thus, various key players in the diabetes monitor industry are concentrating on the research and development activities in the field of diabetes monitoring and treatment, which in turn is anticipated to augment the growth of diabetes monitoring market.
The global diabetes monitor market is anticipated to expand at a significant CAGR during the forecast period i.e. 2019-2027. The market is observing a vibrant growth owing to the increase in the diabetic population across the globe. Further, the growing rate of geriatric and obese population are some of the factors that are expected to contribute significantly towards the growth of the market. Additionally, increasing technological advancements and higher investment by the government and other ruling bodies on research and development regarding diabetes control is anticipated to boost the market shares during the forecast period.
Geographically, the global diabetes monitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is anticipated to lead the market owing to large population of patients and high healthcare expenditure. As the prevalence of diabetes is increasing, governments and other organizations are actively participating to improve its treatment methods. Further, Europe is expected to hold the second position in the overall market of diabetes monitors due to higher investment in the research and development along with boom in technology advancement in the field of diabetes. Furthermore, Asia Pacific is also expected to show a faster growth on the back of growing number of diabetic patients and increasing technological innovations across the region.
Vibrant Growth of Diabetic Monitors Market
The increase in the geriatric population is contributing to the increase in the diabetic population across the world due to the hormonal changes and impaired glucose regulation that takes place as a person gets old over the years. Along with that, unhealthy lifestyle adopted by people across the globe is also contributing to the rise in world’s diabetic population. Collectively, these factors are expected to hone the growth of the global diabetes monitor market during the forecast period. However, the diabetes monitoring devices are very expensive and not at all economical for most people as they need to be replaced after every 8-10 months. As it is not a financially viable option, the growth of the market might be negatively affected during the forecast period.
The report titled “Global Diabetes Monitors Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global diabetes monitors market in terms of market segmentation by source, by application, by distribution channel and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global diabetes monitors market which includes company profiling F. Hoffmann-La Roche Ltd., Medtronic, Life Scan Inc., Sanofi, Dexcom Inc. Abbott Laboratories, B. Braun Melsungen, Nova Biomedical, Novo Nordisk A/S and Terumo Corporation.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global diabetes monitors market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.