The global blood glucose meters market is likely to expand considerably in the coming years due to advent of non-invasive devices. According to a report published by Fortune Business Insights, titled “Blood Glucose Meters: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 7,419.0 Mn in 2018. Fortune Business Insights states that this market is likely to reach US$ 15,415.6 Mn by 2026, thereby exhibiting a CAGR of 9.6%.
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In this report, Fortune Business Insights has indicated that the market will grow in the near future due to the increasing demand and the subsequently rising uptake of blood glucose meters. Increasing incidence of diabetes has been a leading factor that is responsible for the surge in demand of blood glucose meters. According to the International Diabetes Federation (IDF), in 2017, around 425 million people suffered from diabetes, worldwide. Furthermore, it also states that this number is likely to reach 629 million by the year 2045. High prevalence of diabetes, combined with the accuracy of digital blood glucose meters in detecting blood pressure and sugar levels are driving the global blood glucose meters market.
What is the Scope of this market?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- North America (The U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
- The Middle East & Africa (South Africa, GCC, and the Rest of the Middle East & Africa)
Launch of DiaMonTech’s IR-based Blood Glucose Meter to Spur Growth Opportunities
Conventional blood glucose meters involved the need for invasive techniques for diagnosis. The most commonly used methods involved taking blood samples with the help of needle pricks in fingers. The needle prick method was painful for many users and it caused discomfort to some. Therefore, there has been a constant need for an alternative to the invasive devices for continuous glucose monitoring. In 2018, DiaMonTech announced the launch of a compact blood glucose meter. The device performed on an infra-red technology that is used to count the glucose molecules. This product is likely to transform existing blood glucose monitoring techniques and is likely to witness high demand from around the world. The advent of non-invasive devices is likely to induce growth in the global blood glucose meters market.
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