Diabetes mellitus is the group of chronic endocrine disorder due to insufficient level of insulin. Prolonged hyperglycemia (high blood sugar) can lead to severe complications including cardiovascular disease, kidney failure, diabetic retinopathy or nephropathy, and ulcers. Blood glucose monitoring systems are used for the testing of blood glucose level in the body. The global blood glucose monitoring system market is growing at significant rate due to increasing prevalence of diabetes. The market is expected to grow at the faster rate for continuous blood glucose monitoring products in the coming years due to increasing adoption of minimally invasive procedure.
There are two types of blood glucose monitoring system, self-monitoring blood glucose systems and continuous monitoring blood glucose system. Of both the types the continuous monitoring blood glucose system market is expected to grow at the higher growth rate, due to increasing adoption of minimally invasive procedure.
On the basis of testing site, the blood glucose monitoring system market is segment into fingertip testing and alternate site testing. Fingertip testing is the most common technique used for measurement of blood glucose level. Fingertip testing segment has the larger share and is also expected to grow at the faster rate due to high reliability and accuracy of fingertip testing.
The global blood glucose monitoring system market has also been segmented by application into type I, type II and gestational diabetes. Type I diabetes accounts for about 5 to 10 percent of the diabetes cases and type II accounts for approximately 90 percent of the diabetic cases. Many patients with type II diabetes are asymptomatic. The type II diabetes segment is estimated to have largest share in the market due to increasing incidence of type II diabetes and increasing innovative product launches with less invasive technologies. For instance, according to International Diabetes Federation (IDF) in 2017 approximately 352 million people were at risk of developing type II diabetes.
The high cost of blood glucose monitoring products, invasiveness of blood glucose monitors and poor reimbursement of blood glucose monitoring devices and supplies are the major challenges for the growth of blood glucose monitoring system market. In developing countries it is difficult to bear the cost of the testing strips and blood glucose monitors due to poor reimbursement policies. Moreover, in some of the developed countries in Europe and in Canada, the limitation on the supply of testing strips per patient hinder the growth of the market.
The strong distribution channel for blood glucose monitoring products helps to cater the increasing demand of diabetic care device. The key challenge for the new entrants is the survival in capital intensive and highly regulated blood glucose monitoring system market.
Geographically, North America is the largest blood glucose monitoring system market as the region has favorable reimbursement policies, increasing awareness program and rising FDA approvals. Increasing prevalence of diabetes has fueled the growth of the North American blood glucose monitoring system market. For instance, according to Centers for Disease Control and Prevention (CDC), in 2015, approximately 23.1 million people in the U.S. had diabetes.
Asia-Pacific is observed to witness the fastest growth in demand for blood glucose monitoring products. Increasing prevalence of diabetes, increasing awareness of diabetes, increasing healthcare expenditure, and large population base are creating a positive impact on the blood glucose monitoring systems market growth in the region.
Key players in the blood glucose monitoring system market are investing in the development of innovative and advance products, which is strengthening their position in the market. In September 2016, Abbott gained FDA approval for the FreeStyle Libre Pro continuous glucose monitoring (CGM) device, a professional-use device to provide better diabetes management to diabetes patient. In addition, in August 2016, Roche launched the Accu-Chek Guide, the next-generation blood glucose monitoring system. Abbott Laboratories, B. Braun Melsungen, F. Hoffmann-La Roche, Ypsomed, Lifescan, Medtronic, Ascensia Diabetes Care, Dexcom, Nipro and Sanofi are the key players offering blood glucose monitoring products.
About VynZ Research :
VynZ Research is a global market intelligence company providing research reports, industry intelligence and business advisory services to companies and institutions across the globe. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as chemical and materials, automotive and transportation, energy and power, consumer goods, healthcare, ICT and other emerging technologies.
Contact
VynZ Research USA
165 Broadway, 23rd Floor,
New York City, New York – 10006
United States of America
Toll-Free:1-888-253-3960
Website: https://www.vynzresearch.com
Email: support@vynzresearch.com
Connect With us: Linkedin | Twitter |Google | Facebook
New York City, New York – 10006
United States of America
Toll-Free:1-888-253-3960
Website: https://www.vynzresearch.com
Email: support@vynzresearch.com
Connect With us: Linkedin | Twitter |Google | Facebook
No comments:
Post a Comment