The report titled “Global Smart Glucose Meter Market” assesses the smart glucose meter market globally based on product type, application, distribution channel, end-use, and region. A comprehensive report provides a detailed historical and future market size with trend analysis. RationalStat provides market share analysis, production capabilities of the top companies, Covid-19 impact analysis, an overview of the competition, market strategies, and potential growth areas for the target players evaluated in the global smart glucose meter market study.
Market Dynamics: The growth of Smart Glucose Meters in developing economies is strongly backed by government support which is expected to fuel the market growth
The global smart glucose meter market is expected to grow at a CAGR of around 10% during the forecast period of 2022-2028. The prevalence of diabetes has been increasing considerably in recent years which has spurred the demand for glucose meters. According to the World Health Organization (WHO), diabetes was the ninth leading cause of mortalities with around 1.5 million mortalities directly caused by it.
- Growing support from the governments of various economies is expected to contribute to the growth of the global smart glucose meter market as these governments focus on modernizing healthcare infrastructure in their respective countries.
- Furthermore, a wireless network connection and multi-parameter versions available in the smart glucose meters make them easier to use, thereby, driving their demand.
- In addition, the rising prevalence of Type-2 diabetes owing to unhealthy eating habits and increased alcohol consumption is anticipated to fuel the market growth of the smart glucose meter market. Besides, the global population is willing to undergo minimally invasive treatment and spend more on their healthcare.
Segmental Analysis: The growing adoption of advanced technological devices and the upsurge in the number of diabetic patients are expected to lead the growth of the global smart glucose meter market in the upcoming years
- Among these, Self-Monitoring Blood Glucose (SMBG) is estimated to hold a prominent share of the market while Continuous Glucose Monitoring (CGM) is projected to exhibit a considerable growth rate during the forecast period.
- Based on the distribution channel, the offline channel is estimated to hold a prominent share in the global market as the majority of the population prefers to purchase smart glucose meters from hospital pharmacies and retail pharmacies and is a source of trusted and genuine products for the population.
- Based on End-use, the Hospital sector holds a majority of the market share in the global smart glucose meter market owing to the demand from patients who prefer hospitals for treatment.
- Based on region, Asia Pacific holds a dominant share of the global smart glucose meter market owing to increasing healthcare awareness, an increasing number of diabetic patients, and the presence of various industry players in the region.
Due to the presence of many well-established companies in the global smart glucose meter market, there is intense competition in the global smart glucose meter market. The global smart glucose meter market is expected to witness a pool of opportunities due to the emergence of obesity as a result of lifestyle changes, unhealthy eating habits, increasing alcohol consumption, reduced physical activity, etc. are in turn increasing obesity cases which are expected to fuel the demand for smart glucose meters in the global smart glucose meter market.
Acquisitions, product launches, and partnerships are the identified industry trend in the global smart glucose meter market. Significant consolidation is expected in the global smart glucose meter market during the forecasting period 2022-2028.
- In April 2022, DexCom, Inc launched the new Dexcom ONE Continuous Glucose Monitoring System, which will be available in the UK. The Dexcom ONE system is a simple-to-use real-time CGM (rt-CGM) that will be more inexpensive and accessible for diabetics in the UK and it will be evaluated for inclusion in drug tariffs in the United Kingdom.
- In December 2021, Medtronic plc announced that the US Centers for Medicare & Medicaid Services (CMS) will expand into all forms of continuous glucose monitors (CGMs), including adjunctive and non-adjunctive CGMs, and would be covered by Medicare. CGMs that work with Medtronic insulin pumps are included in this category.
Some of the prominent players include Novo Nordisk, Medtronic plc, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Bayer AG, LifeScan IP Holdings LLC, Dexcom Inc., Sanofi SA, Eli Lilly and Company, and B Braun Melsungen AG among others. These companies use several tactics to reinforce their market share and acquire a competitive advantage over their competitors.
RationalStat has segmented the global smart glucose meter market on the basis of product type, application, distribution channel, end-use, and region.
- By Product Type
- Self-Monitoring Blood Glucose (SMBG) Systems
- Continuous Glucose Monitoring (CGM) Systems
- By Application
- Type 2 Diabetes
- Type 1 Diabetes
- Gestational Diabetes
- By Distribution Channel
- Institutional Sales
- Retail Pharmacies
- Hospital Pharmacies
- By End Use
- Home Care
- Diagnostic Centre
- Others (Clinics)
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
For more information about this report: https://store.rationalstat.com/store/global-smart-glucose-meter-market-investment-growth-opportunity-analysis/
About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support the middle east and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, procurement intelligence, data analytics, and analytical dashboards.
Content and Press Manager
Phone: +1 302 803 5429