Diabetes Monitoring Devices Market Size, Share and Industry Analysis by Product (Blood Glucose Meters, Test Strips, Lancets), Distribution Channel (Institutional Sales, Retail Sales) & Regional Forecast, 2019 - 2026

The global diabetes monitoring devices market size was valued at USD 21,614.7 Million in 2018, is projected to reach USD 32,881.9 Million by the end of 2026, exhibiting a CAGR of 5.4%.

Diabetes is a chronic disease condition commonly observed as type 1, type 2, and gestational diabetes. According to the International Diabetes Federation (IDF), an estimated 422 million adults were suffering from diabetes in 2016 and the prevalence is projected to be doubled by 2030.

Also according to statistics by International Diabetes Federation (IDF), more than 80% of the population were suffering from type 2 diabetes. The market is mainly driven by the rising incidence of diabetes globally. This rise in incidence is attributed to sedentary lifestyles in developing and developed countries, high alcohol consumption, and increasing levels of stress among general population. 

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"An Increasing Number of Diabetic Patients and the Introduction of Minimally Invasive and Rapid Diagnostic Devices Are Propelling the Growth of the Market "

The emergence of the minimally invasive blood glucose monitors is one of the major factor anticipated to drive the diabetes monitoring devices market growth during the forecast period. The introduction of wearable continuous blood glucose monitors is anticipated to fuel the demand for diabetes monitoring devices, owing to benefits such as user-friendly interface and continuous blood glucose monitoring. Among products, the test strips segment dominated the global market in 2018. The segment accounted for 58.1% share in the global market in 2018. 

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Based on product, the diabetes monitoring devices market is segmented into blood glucose meters, test strips, lancets, and others. On the basis of distribution channel, the market is segmented into institutional sales (hospitals, specialty clinics, others) and retail sales (hospital pharmacies, online pharmacies, and retial pharmacies).

Regional Analysis

"Asia Pacific Is Expected to Grow at a Comparatively Higher CAGR Due to a Large Patient Pool and Increasing Awareness About Diabetes Monitoring Devices"

North America generated a maximum diabetes monitoring devices market revenue of USD 7,092.0 Mn in 2018. The region is expected to dominate the global market throughout the forecast period. Higher adoption of advanced monitoring devices and comparatively higher prices of these devices in the U.S., are factors responsible for dominance of North America in the market. Asia Pacific is expected to register significantly higher CAGR during the forecast period of 2019-2026 on account of the increasing incidence of diabetes in the region, along with a large prevalent patient pool in emerging countries.

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Key Market Drivers 

"F. Hoffmann-La Roche Ltd., Abbott, and Medtronic Account for the Dominant Share of the Market in Terms of Revenue"

F. Hoffmann-La Roche Ltd., is a leading player in the global diabetes monitoring devices, owing to its strong portfolio in blood glucose meters and strong distribution network globally. In order to strengthen the market position, key market players are focusing on the introduction of minimally invasive and non-invasive blood glucose meters in the global market.

F. Hoffmann-La Roche Ltd., along with Abbott and Medtronic, accounted for the maximum global diabetes monitoring devices market share in 2018. Other players operating in the market are Lifespan Inc., Ascensia Diabetes Care Holdings AG., Terumo Medical Corporation, Sanofi, DiaMonTech GmbH and others. 

KEY COMPANIES COVERED IN THE REPORT

• Hoffmann-La Roche Ltd
• Dexcom, Inc.
• Braun Melsungen AG
• Medtronic
• Lifespan Inc.
• Ascensia Diabetes Care Holdings AG.
• Terumo Medical Corporation
• Abbott
• Sanofi
• DiaMonTech GmbH
• Other players 

REPORT OVERVIEW

Increasing awareness about diabetes management in emerging countries and growing emphasis by regional and national governments towards early diagnosis of diabetes is leading to rising adoption of diabetes monitoring devices, these factors are expected to drive thediabetes monitoring devices market growth during the forecast period of 2019-2026.

The report provides qualitative and quantitative insights on the diabetes monitoring devices industry dynamics and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by product, distribution channel, and geography. On the basis of the product, the diabetes monitoring devices market is segmented into blood glucose meters, test strips, lancets and others.

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On the basis of distribution channel, the global diabetes monitoring devices Industry is segmented into institutional sales and retail sales. The institutional sales segment is further segmented into hospitals, clinics, and others. The retail sales segment is further categorized into hospital pharmacies, retail pharmacies, and online pharmacies. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries. 

Along with this, the report provides an elaborative analysis of the diabetes monitoring devices market dynamics and competitive landscape. Various key insights provided in the report are prevalence and incidence of diabetes by key countries, recent industry developments such as mergers & acquisitions, pricing analysis, technological advancements, and key industry trends. 

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• In May 2019, Lifespan Inc., had an exclusive agreement with Sanvita Medical, LLC., a subsidiary of Nova Biomedical Corporation to market continuous glucose monitoring (CGM) sensors. This collaboration has planned the launch CGM systems in North America and select countries in Europe.
• In July 2016, ACON Laboratories, Inc., launched New On Call pro blood glucose meter for multi-patient use. This launch in the US has made the blood glucose testing in the hospitals easier.
• In March 2016, ACON Laboratories, Inc., launched OptiLance push-button safety lancets. The precision molded needles placed in OptiLance and quality springs prevent any needle chatter confirming optimum comfort for the patient.