Global flash glucose monitoring market is expected to flourish at a robust compound annual growth rate (CAGR) over the forecast period i.e. 2017-2024.
Flash glucose monitoring system consists of two major components; a sensor which is wore just underneath the skin and a reader which is when waved over the sensor, it displays glucose level of the body. Flash glucose monitoring is able to store data of individual’s blood sugar or blood glucose level and can be seen any time just by scanning the scanner with reader device.
Further, this flash glucose monitoring is a very efficient tool to maintain proper blood sugar level on a daily basis. Furthermore, flash glucose monitoring is very helpful to maintain glucose level of the body of those individuals who are suffering from diabetic related diseases.
Market Size & Forecast
Rising adoption of wearable healthcare devices across the globe and rising per capita health care spending among consumers are anticipated to be the dynamic factor behind the growth of global flash glucose monitoring market.
In terms of region, global flash glucose monitoring market is segmented into five major regions which are North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to witness satisfactory growth during the forecast period owing to the factors such as early adoption of wearable medical devices.
Further, rising adoption of home monitoring medical devices due to rise in number of patient suffering from chronic diseases and diabetic related diseases in North America region is expected to drive the growth of flash glucose monitoring market in this region.
Additionally, Asia Pacific region is anticipated to flourish at remarkable pace during the forecast period. This can be attributed to various factors such as early approval of flash glucose monitoring technology, rising awareness towards wellness & fitness coupled with increasing aging population in this region.
Moreover, Europe region is expected to witness satisfactory growth over the forecast period due to increasing prevalence of diseases and increasing investment for the enhancement of healthcare sector in this region.
Our-in depth analysis of the global flash glucose monitoring market includes the following segments:
By End User
Growth Drivers & Challenges
Global flash glucose monitoring market is expected to be primarily driven by rising popularity of smart medical devices coupled with increasing awareness towards fitness & wellness among people. Flash glucose monitoring technology is very useful in those situations where continuous tracking of glucose level is one of the major concerns. Such applications of flash glucose monitoring are likely to drive the growth of global market during the forecast period.
Additionally, flash glucose monitoring devices are designed to be water resistant. They can be worn either during swimming, running, bathing, exercising and other daily activities and produce precise data of glucose levels at any instant.
Further, high compatibility of flash glucose monitoring with daily routine is a major factor which is projected to drive the growth of global flash glucose monitoring market during forecast period.
Furthermore, rapid technological advancement in healthcare sector is also envisioned to drive the growth of flash glucose monitoring market. In addition to this rising incidences of chronic diseases coupled with growing number of diabetic patients all over the globe are anticipated to be dynamic factor which are likely to drive the growth of global flash glucose monitoring market during forecast period.
However, various problems associated with flash glucose monitoring such as overloaded data are believed to dampen the growth of global flash glucose monitoring market. Additionally, flash glucose monitoring devices are when worn, may cause irritation.
Further, such issues with flash glucose monitoring devices are likely to hamper the growth of global flash monitoring market in near future.
This report also provides the existing competitive scenario of some of the key players of the global flash glucose monitoring market which includes company profiling of Abbott laboratories. Key potential companies that may enter into manufacturing of flash glucose monitoring system are The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global flash glucose monitoring market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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