Global Glucose Monitoring Devices Market to Reach $16.1 Billion by 2027
Dublin, Sept. 09, 2020 (GLOBE NEWSWIRE) -- The "Glucose Monitoring Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Glucose Monitoring Devices estimated at US$10.8 Billion in the year 2020, is projected to reach a revised size of US$16.1 Billion by 2027, growing at a CAGR of 5.9% over the analysis period 2020-2027. Testing Strips, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$4.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lancets segment is readjusted to a revised 6.4% CAGR for the next 7-year period.
The U. S. Market is Estimated at $2.9 Billion, While China is Forecast to Grow at 9% CAGR
The Glucose Monitoring Devices market in the U. S. is estimated at US$2.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2027 trailing a CAGR of 8.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
Blood Glucose Meters Segment to Record 5.5% CAGR
In the global Blood Glucose Meters segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.5 Billion in the year 2020 will reach a projected size of US$2.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2027, while Latin America will expand at a 6.7% CAGR through the analysis period. This report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
Abbott Diabetes Care, Inc.
ACON Laboratories, Inc.
AgaMatrix, Inc.
Alive Technologies Pty. Ltd.
ARKRAY, Inc.
Ascensia Diabetes Care Holdings AG
B. Braun Melsungen AG
Beurer GmbH
Dexcom, Inc.
GlySens Inc.
LifeScan, Inc.
Medtronic plc
Nova Biomedical Corporation
Omron Healthcare Co., Ltd.
Roche Diagnostics
Senseonics Holdings, Inc.
Terumo Corporation
Trividia Health, Inc.
Ypsomed Holding AG
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Glucose Monitoring Devices: Enabling Easier and Efficient Monitoring of the Global Diabetes Epidemic
Growth Drivers in a Nutshell
Recent Market Activity
Glucose Monitoring Undergoes Notable Transformation over the Years: An Evolutionary Scan
Evolution of Diabetes Testing over the Years with Key Features in Each Period
Diabetes Incidence Reaching Epidemic Proportions Worldwide: Foundation for Market Growth
Diabetes: One of the Leading Causes of Death Globally
Diabetes Incidence and Prevalence by Region/Country
Developed Countries are Dominant Markets, while Developing Countries Spearhead Market Growth
Global Competitor Market Shares
Glucose Monitoring Devices Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
Growing Popularity of Smart, Compact, Digital, Ergonomic, and Wireless Glucose Monitors Drive Healthy Market Growth
Select Disruptive Glucose Monitors Promising Reduced Pain, Lesser Data Load, and Zero Worries
Innovative Smart Glucometers for Sugar Monitoring
Need for Real-Time Glucose Sensing and Monitoring Drive Strong Demand for Minimally-Invasive CGM Devices
Myriad Benefits of CGMs
CGM Market Gradually Breaks through Barriers to Adoption
Intensive Care Units: A Highly Promising Market for CGMs
Key Challenges Hampering Widespread Adoption of CGM Systems
Despite Competition from CGM Systems, SGM Devices Continue to Dominate Sales
Blood Glucose Test Strips: The Largest Segment
Cost: The Ultimate Factor Favoring Growth in Demand for Blood Glucose Monitoring Systems
Self-Monitoring/Household Blood Glucose:Sustaining Growth in Demand
Glucase: Smartphone Case with Glucose Testing Kit
Painless Diabetes Monitoring Using NFC Technology
GlucoSense: Laser Device for Non-invasive Monitoring of Glucose Levels
ClearPath DS-120: Enabling Early Detection of Diabetes & Prediabetes
NoStrip Technology: Eliminating Need for Individual Test Strips
Other Innovative and Advanced Glucose Monitoring Systems
Notable Early-stage Investigative Glucose Monitoring Devices
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/4hsng8
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