Telehealth Is Fastest Growing Segment Fueling The Growth Of Blood Glucose Monitoring Market

 

The global Blood Glucose Monitoring Market is estimated to be valued at US$ 22101.13 Mn in 2023 and is expected to exhibit a CAGR of 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Blood glucose monitoring products include glucometers, testing strips, lancets and sensors used to check blood glucose levels. Regular monitoring helps patients manage diabetes and avoid complications. Advances like hospital-grade accuracy, painless sampling and smart wireless data sharing are enhancing user experience.

Market Key Trends:
One of the key trends in the market is the growing adoption of continuous glucose monitoring (CGM) systems. CGM systems provides real-time interstitial glucose readings and alerts patients about impending highs and lows, allowing for better management of diabetes. Advancements in sensor technology and remote monitoring capabilities via smartphones are further fueling adoption of CGM systems for diabetes management. This is expected to drive significant growth in the blood glucose monitoring market over the forecast period.

Segment Analysis
The global blood glucose monitoring market is segmented based on product, application, distribution channel, and end-user. Based on product, the self-monitoring blood glucose systems segment dominates the market. Self-monitoring blood glucose systems enable patients to monitor their blood glucose levels conveniently at home. It is suitable for diabetes patients who require frequent blood glucose monitoring.

Key Takeaways
The Global Blood Glucose Monitoring Market Size is expected to witness high growth, exhibiting a CAGR of 9.4% over the forecast period, due to the increasing prevalence of diabetes across the globe.

Regional analysis:
North America dominates the global blood glucose monitoring market, owing to the increasing prevalence of diabetes and favorable reimbursement policies in the region. The Asia Pacific region is expected to grow at the fastest rate during the forecast period due to the rising geriatric population and growing awareness regarding diabetes management.

Key players analysis:
Key players operating in the blood glucose monitoring market are Senseonics, Medisana AG, Acon Laboratories Inc., Bionime Corporation, AgaMatrix Inc., Ascensia Diabetes Care, ARKRAY Inc., Medtronic PLC, DexCom Inc., LifeScan Inc., Roche Diagnostics, Abbott Diabetes Care, Trivida Functional Medicine, and Rossmax International Ltd., among others. Abbott Diabetes Care leads the market owing to its wide portfolio of blood glucose monitoring devices and testing strips.

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