North America Glucose Monitoring Device Market is expected to reach $767.1 million by 2021
The North America Glucose Monitoring Device Market is very fast growing market and expected to reach $767.1 million by 2021 from $585.82 million in 2016, at a CAGR of 5.54% from 2016-2021. The North America rules the glucose monitoring device market with the highest market value and a share of 34% in the global market in the year 2016.
It is the dominating market in the recent development with the USA nearly accounting for more than one-third of the global market share.
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There are various kinds of Glucose monitoring devices such as glucose meter, testing strips and lancets which are used to detect the level of sugar in our blood.
By using these devices, we can reduce time, as compared to the glucose testing by customary methods in laboratories.
These devices can be handled easily as are portable so convenient to carry. Quantitative tests are done by such devices to test the amount of sugar in our blood.
The glucose monitoring strip devices dominate the market with xx% share and also has the highest growth rate.
The increasing prevalence of diabetes cases is due to unhealthy lifestyle, poor diet, excess alcohol consumption, and lack of physical activity which drives the market. growth in self- monitoring blood glucose devices market can be seen due to increase in healthcare expenditure. Certain restraints for the market are manufacturing defects in the devices.
This market can be broadly segmented into continuous wearable devices (Sensors, Transmitters and Activators) and self-monitoring devices (Blood Glucose Meters, Blood Glucose Strips, Lancets, and Haemoglobin A1C testing Kits). Based on Application they can be divided into hospitals, clinics and diagnostic centers, home setting and ambulatory settings.
The continuous glucose monitoring results help patients regulate their food intake, exercise, and medications. The device contains sensors for checking glucose level from the interstitial fluid.
The sensor has a time span where it can be used at one place and then needs to be replaced. This device monitors the glucose levels over time, allowing the patients to identify low and high sugar levels which are more dangerous.
Whereas for the self-monitoring devices people have to test and it monitors the level at that particular time and not before that.
The major competitors dominating the market for their products, services, and continuous product developments are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc, AgaMatrix Inc, Arkray Inc, Medtronic, DexCom Inc, Nova Biomedical Corporation and Teruma Europe NV.
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