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
For more information about this report visit https://www.researchandmarkets.com/r/4hsng8
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