A new business intelligence report released by HTF MI with title “Global Self-monitoring Blood Glucose Devices Market (2018-2023)” has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Self-monitoring Blood Glucose Devices Market Report offers energetic visions to conclude and study market size, market hopes, Growth Opportunities and competitive surroundings. The research is derived through primary and secondary statistics sources and it comprises both qualitative and quantitative detailing. Some of the key players profiled in the study are Roche Holding AG, LifeScan, Inc., Abbott Laboratories, Ypsomed AG, B. Braun Melsungen AG, Ascensia Diabetes Care, DiaMonTech, Nemaura Medical Inc., Noviosense BV.
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The self-monitoring blood glucose devices market comprises testing strips, glucometers and other product segments such as lancets and lancing devices. Increase in aging population, high prevalence of diabetes due to unhealthy lifestyle, poor diet, excess alcohol consumption, and lack of physical activity, creates a huge demand for blood glucose devices across the globe. The global self-monitoring blood glucose devices market is forecast to grow at a CAGR of 4.8% (2018-2023) and will reach USD 9.4 Bn in 2023 from USD 7.4 Bn in 2018. Market players are primarily focusing on product launches, and mergers and acquisitions to broaden their customer base, as well as to consolidate their position in the market.
Segmentation based on product type
Based on product type, in 2018, the testing strips segment contributed the highest market share (78.8%), on account of its economical pricing in comparison to glucose meters, and awareness among diabetes patients. The glucometers segment was the second-largest segment, with a market share of 16.1%, owing to its ease of use, painless procedure, and quick results.
The other products’ segment comprises lancets, lancing devices etc. It accounted for a 5.1% share of the market, and is expected to show moderate growth during the forecast period
Segmentation based on end user type
Based on end user type, the market is segmented into hospitals, home settings, and diagnostics centers and clinics. Home settings segment contributed the highest market share of 86.7% in 2018 and will continue to grow at CAGR 4.9% due to convenience as these devices allow patients to check their blood glucose levels at home, at their own convenience.
During the forecast period, diagnostic centres and clinics are expected to expand at a moderate growth rate; in 2018, the segment witnessed market share of 8.5%. In 2018, hospital segment demonstrated least market share of 4.7%; the segment is projected to expand at a nominal growth in the coming years.
The self-monitoring blood glucose devices market in North America accounted for highest market share of 39.8% in 2018. The segment is expected to increase at CAGR 4.2% from 2018-2023 owing to factors such as growing number of advanced medical facilities, rising healthcare expenditure, and favourable reimbursement policies in the region. In 2018, testing strips segment contributed the highest revenue in North America region due to increase in diabetes cases, increasing disposable income, and technological advancements. The European market is anticipated to expand at a CAGR of 4.6% during the forecast period, given the presence of major market players in the region, improved awareness, and availability of self-monitoring blood glucose devices in a number of variants.
A large population, higher disposable income, and improved awareness about self-monitoring blood glucose devices will help the Asia-Pacific region dominate the global market during the forecast period. The Middle East and Africa and the Latin America markets, though still at nascent stages, will also experience high growth
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Important Features that are under offering & key highlights of the report:
– Detailed overview of Self-monitoring Blood Glucose Devices market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Self-monitoring Blood Glucose Devices market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
– A neutral perspective towards Self-monitoring Blood Glucose Devices market performance
– Must-have information for market players to sustain and enhance their market footprint
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Major Highlights of TOC:
Chapter One: Global Self-monitoring Blood Glucose Devices Market Industry Overview
1.1 Self-monitoring Blood Glucose Devices Industry
1.1.2 Products of Major Companies
1.2 Self-monitoring Blood Glucose Devices Market Segment
1.2.1 Industry Chain
1.2.2 Consumer Distribution
1.3 Price & Cost Overview
Chapter Two: Global Self-monitoring Blood Glucose Devices Market Demand
2.1 Segment Overview
2.1.1 APPLICATION 1
2.1.2 APPLICATION 2
2.2 Global Self-monitoring Blood Glucose Devices Market Size by Demand
2.3 Global Self-monitoring Blood Glucose Devices Market Forecast by Demand
Chapter Three: Global Self-monitoring Blood Glucose Devices Market by Type
3.1 By Type
3.1.1 TYPE 1
3.1.2 TYPE 2
3.2 Self-monitoring Blood Glucose Devices Market Size by Type
3.3 Self-monitoring Blood Glucose Devices Market Forecast by Type
Chapter Four: Major Region of Self-monitoring Blood Glucose Devices Market
4.1 Global Self-monitoring Blood Glucose Devices Sales
4.2 Global Self-monitoring Blood Glucose Devices Revenue & market share
Chapter Five: Major Companies List
Chapter Six: Conclusion
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Key questions answered
• Who are the Leading key players and what are their Key Business plans in the Global Self-monitoring Blood Glucose Devices market?
• What are the key concerns of the five forces analysis of the Global Self-monitoring Blood Glucose Devices market?
• What are different prospects and threats faced by the dealers in the Global Self-monitoring Blood Glucose Devices market?
• What are the strengths and weaknesses of the key vendors?
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