Logo
Saturday, 20 April 2024
Monday, 18 Sep 2023 12:00 am

Glucose Monitoring Devices Market is expected to reach US$ 39,530.75 million by 2030

The glucose monitoring devices market share is projected to grow from USD 16,803.63 million in 2022 to reach USD 39,530.75 million by 2030.

By The Insight Partners

Type 2 Diabetes Held Larger Share of Glucose Monitoring Devices Market

According to our new research study on "Glucose Monitoring Devices Market Forecast to 2030 – Global Analysis – by Type, Application, Testing Type, and End User," the glucose monitoring devices market size was valued at US$ 16,803.63 million in 2022 and is projected to reach US$ 39,530.75 million by 2030. The market is estimated to register a CAGR of 11.3% during 2022–2030.

Based on the application, the glucose monitoring devices market is bifurcated into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held a larger market share in 2022. The type 1 diabetes segment is anticipated to register a higher CAGR of 11.7% during the forecast period. According to a report by the Centers for Disease Control and Prevention (CDC), more than 37 million Americans (~1 in 10) have diabetes, and nearly 90–95% of them have type 2 diabetes. Type 2 diabetes is often developed in people over age 45. However, an increasingly large number of children, teens, and young adults are also developing it nowadays. The key risk factors associated with the rise in type 2 diabetes cases are urbanization, aging, decreasing physical activity, and increasing overweight and obesity prevalence. The British Diabetic Association report reveals that 4.3 million people in the UK live with diabetes, while 850,000 people may be living with the condition yet to be diagnosed. Among the 4.3 million diabetic population in the UK, ~90% of the people suffer from type 2 diabetes. Type 2 diabetes is more prevalent than type 1 diabetes. As per the International Diabetes Federation (IDF) 2023 report, type 1 is rare and occurs at a rate of only 5–10% worldwide. Therefore, the glucose monitoring devices market for the type 2 diabetes segment is expected to grow at a faster CAGR during 2022–2030.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00004116

B. Braun SE, F. Hoffmann-La Roche Ltd, LifeScan Inc, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, Senseonics Holdings Inc, Nipro Corp, GE HealthCare Technologies Inc, and Terumo Corp are among the leading companies operating in the glucose monitoring devices market.

The glucose monitoring devices market growth in China is growing notably due to the rising awareness of diabetes diagnosis. India holds the second largest share of the market in Asia Pacific owing to the high prevalence of diabetes in the country. As China is among the emerging markets in terms of healthcare, various players are expanding their business in the country. It is also experiencing growing numbers of start-up companies that significantly contribute to market growth. Moreover, owing to growing developments in the healthcare sector, national and international players are aggressively catalyzing their research for development activities to introduce innovative glucose monitoring devices. In June 2021, Abbott Laboratories, a US-based multinational medical device company, collaborated with the Beijing Medical Award Foundation to launch a demonstrative glucose monitoring program for more intelligent diabetes management in China. In November 2022, Roche featured two new glucose meter products—ACCU-CHEK Instant Glucometer and ACCU-CHEK Guide Me Glucometer—and a new digital diabetes management platform at the China International Import Expo (CIIE) to provide patients with professional and easier diabetes management solutions. Thus, the emergence of players and rising number of product approvals in the country are expected to propel the glucose monitoring devices market growth in China during the forecast period.

In terms of geography, the glucose monitoring devices market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com


The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy