Diabetes Monitor Market Overview:
The global market report on the diabetes monitor market has been studied on the basis of several factors and connections with the end users. The market is projected to reach USD 17458.1 million by 2023 and during the forecast period of 2018 to 2023, it will reach a CAGR of 8.3%. Market Research Future (MRFR) discussed factors like the rising diabetes cases, changing lifestyles due to the rapid urbanization, the inclusion of top-class technologies, and others. Obesity is also expected to trigger better growth for the global market.
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Diabetes Monitor Market Segmentation:
MRFR experts have studied the global market report on diabetes monitors with proper emphasis on segments like type, sample, component, and end-users. The report contains data backed by charts, graphs, and volume and valuation figures among other influencers, which can help in devising better strategies in the coming days.
By sample, the report on the global diabetes monitors market has been segmented into sweat samples, blood samples, urine samples, and others. The blood sample segment gets ample traction from the market. It covers 75.70% of the total market share and can proceed further at an 8.6% CAGR during the forecast period.
By type, the discussion of the market includes continuous glucose monitors, point sample test based glucose monitors, and enzyme-free sensor-based glucose monitors. The continuous glucose monitors segment encompasses disposable sensor-based CGM, and re-usable sensor based CGM.
By components, the report on the global diabetes monitor market includes glucose test strips, lancet, and sensors. The sensors cover segments like enzyme-based sensors, and enzyme-free sensors.
By end -users, the report on the global market has been segmented into hospitals, diagnostic clinics, and home. The home segment is getting backed by rising disposable income and development in devices.
Diabetes Monitor Market Regional Analysis:
The Americas has the largest market share and is slated to grow and surpass a valuation of USD 6623.4 million by 2023. Asia Pacific would be the fastest-growing region and it would achieve a CAGR of 8.9% during the forecast period. Europe would garner substantial valuation during the forecast period.
Diabetes Monitor Market Competitive Landscape:
Dexcom, Inc., Sanofi, Panasonic, Abbott Laboratories, Medtronic, LifeScan, Inc., F. Hoffmann-La Roche Ltd, and others are some of the major companies delving deep into the global diabetes monitor market by using their strategies. These companies bank on methods like tie-ups, innovations, product launches, mergers, branding, acquisitions, research and development, and others. MRFR’s attempt to record all the latest moves is expected to facilitate understanding global market growth and trends.
In June 2020, DarioHealth Corp., a company from New York is a device that monitors glucose levels in the blood, announced that the company had developed two new papers on how people have benefited from their digital device and it also mentioned the improvement level of blood sugar level and blood pressure. The device was developed in Israel and it provides regular updates to its users and helps them manage their glucose level on the go.
In June 2020, Nemaura Medical Inc announced that it has applied for a Premarket Approval (PMA) from the US Food and Drug Administration for its new product sugarBEAT continuous glucose monitor. These will be a proper supplement for the finger pricking testing pattern.
The COVID-19 crisis is expected to play a crucial role in taking the global market ahead. This is due to the deep connection between disease and diabetes. Patients with high-diabetes are susceptible to these diseases and their chances of recovery are less than normal patients.
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