The International Diabetes Federation stated in 2017 that
more than 400 million people across the world suffer from diabetes. The number
is rising every day and was projected to be around 629 million by 2045. The
mere statistic of a large number of diabetic populations, along with the
reliance on blood glucose monitoring devices, has propelled a tremendous growth
in the global
next-generation glucose monitor market. Moreover, the
expanding geriatric population, which is likely to be 22 percent by 2050, has
augmented the demand for next-generation glucose monitoring.
The Glucose Monitoring devices are crucial for regular
tracking of blood sugar levels for timely treatment and are also economically
beneficial. These devices also help in preventing other health-related
conditions including neuropathy, retinopathy, and cardiovascular diseases.
The demand for
non-invasive glucose monitoring market has been on the rise of late, as opposed
to the conventional invasive devices. This has boosted the investment for newer
devices with the coming days. Recently, the Germany-based company DiaMonTech
GmbH launched a next-generation glucose monitoring device that uses infrared
light beam through the skin to diagnose the blood sugar levels.
Type-wise, the Global
Next-Generation Glucose Monitor Market can be bifurcated into continuous
glucose monitoring devices and self- monitoring devices. Within this, the self-glucose
monitoring systems holds the largest share in the market for next-generation
glucose monitor as of 2019. These devices track the blood sugar levels through
a sensor implanted under the skin for continuous monitoring. Continuous glucose
monitoring has proved helpful for Type 2 diabetes patients who require several
shots of insulin per day. This segment is likely to record the fastest growth
between 2020 and 2026.
Based on end-use, the
global next-generation glucose monitor market includes hospitals, home care,
and diagnostic centers. The hospital segment is leading the market owing to the
developing infrastructure and mounting healthcare expenses. Hospitals have
better provisions to store patient details. Moreover, the cost of testing blood
sugar at hospitals is more than that at home, which drives this segment. On the
other hand, the home care segment has seen a huge transformation in recent
years and is anticipated to record the fastest growth of 7.7 percent. This
segment has become popular for short-term monitoring of glucose across the
world.
Region-wise, the Global Next-Generation Glucose Monitor Market is
led by North America generating a revenue of USD 3012.6 million in 2018. North
America is likely to hold its ruling position in the coming years due to the
adoption of innovative wearable and continuous blood glucose meters in the
United States. This is also combined with the obvious factor of the rising
number of diabetic patients in this region. European market follows the North
American market. The Asis-Pacific (APAC) region has gradually become lucrative
for companies in this market. China is leading this region given its large
diabetic populace and fast economic development. Growing awareness regarding
controlling and tracking diabetes has also augmented preventive care in this
region.
Some of the key
players in the Global Next-Generation Glucose Monitor Market include Dexcom
Inc., Medtronic, Ascensia Diabetes Care Holdings, Lifespan Inc., Sanofi, and so
forth.
Check the report summary on Global Next-Generation Glucose Monitor
Market at
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