Blood Glucose Meters Market USD 15,415.6 Million at 9.6% CAGR Forecast by 2026

The global blood glucose meters market is likely growing at an accelerated rate due to recent advancements made in accuracy and device operations. According to a report published by Fortune Business Insights, titled “Blood Glucose Meters: Global Market Analysis, Insights, and Forecast, 2019-2026,” the market was valued at US$ 7,419.0 Mn in 2018. Fortune Business Insights states that this market is likely to reach US$ 15,415.6 Mn by 2026, thereby exhibiting a CAGR of 9.6%.

The constant increase in demand for non-invasive Blood Glucose Meters Market is likely to drive the market in the coming years. The advent of user-friendly and easy-to-use devices will fuel the demand for such devices. Additionally, recent innovations of embedded devices have led to the introduction of compact devices that suffice user needs within the time same as conventional blood glucose meters.

Recent advancements made in blood glucose meters such as wireless interface, battery operated, digital readings, and non-invasive operation will bode well for the global blood glucose meters market and are likely to favor growth of the market in the coming years.

Demand for Continuous Glucose Monitoring Systems Expected to Rise Considerably in Future

Among product types available in the market, self-monitoring blood glucose systems accounted for the dominant share in the market in 2018. However, in the coming years, the demand for continuous glucose monitoring systems is expected to rise at an increased pace. Technological advancements have led to the advent of continuous glucose monitoring device wherein a sensor is implanted under the skin, to monitor blood sugar levels for a specific amount of time.

The use of continuous glucose monitoring (CGM) device is inclined towards patients with type 2 diabetes that are exposed to multiple insulin doses in a single day. Although self-monitoring blood glucose systems have accounted for the major share of the global blood glucose meters market, the demand for continuous glucose meters is expected to be more.

Increasing Incidence of Diabetes to Boost the Market in North America

The high prevalence of diabetes in North America has led to an increase in demand for blood glucose meters in this region. As of 2018, North America dominates the global blood glucose meters market. Increasing demand of blood glucose meters has resulted from the rising incidence of diabetes. A huge patient pool drives the blood glucose meters market in North America. As of 2018, the blood glucose meters market in North America was valued at US$ 3012.6 Mn.

Fortune Business Insights has predicted that this region will dominate the global market throughout the forecast period. Growing penetration of non-invasive blood glucose meters in Asia Pacific is favouring the growth of the regional market with a higher pace.

Furthermore, increased per capita healthcare spending will boost the blood glucose meters market in Asia Pacific. Fortune Business Insights has predicted that the market in Asia Pacific will rise with the highest CAGR during the forecast period.

Some of the leading companies that are operating in the global blood glucose meters market are are F. Hoffmann-La Roche Ltd, Dexcom, Inc., B. Braun Melsungen AG, Medtronic, Lifespan Inc., Ascensia Diabetes Care Holdings AG., Terumo Medical Corporation, Abbott, Sanofi and DiaMonTech GmbH.

 Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/blood-glucose-meters-market-100770

The global blood glucose meters market is segmented based on: