Blood Glucose Device Market, Users Global Forecast 2022-2027, SMBG Components, Industry Trends, Growth, Insight, Impact of COVID-19, Company Analysis

Blood Glucose Device Market, Users Global Forecast 2022-2027, SMBG Components, Industry Trends, Growth, Insight, Impact of COVID-19, Company Analysis

Self-Monitoring Blood Glucose Devices Market is expected to reach US$ 46.69 Billion in 2027. Over time, typical lab diagnostic tests have only served to assist physicians in diagnosing disease. Patients with more fluctuating glucose levels, on the other hand, need their levels monitored every day. Also, patients who use insulin need to regularly monitor their blood glucose levels. As a result, a current diabetes care approach involving blood glucose meters by patients to promptly check their glucose levels and provide an accurate assessment of capillary glucose concentration is known as self-monitoring blood glucose (SMBG). Additionally, blood glucose monitoring aids diabetic patients in making daily management decisions such as food consumption, insulin dosage, and physical activity.

Self-Monitoring Blood Glucose Devices Industry is anticipated to expand with a CAGR of 4.12% from 2021 to 2027:

The increased prevalence of diabetes is attributable to the market growth of self-monitoring blood glucose gadgets. Furthermore, lifestyle changes, food choices, increased smoking, and alcohol intake are likely to increase diabetes prevalence rates. Again, as people become more aware of home monitoring and the importance of regular diabetes treatment to lower the risk of hyperglycemia, demand for self-monitoring blood glucose monitors is increasing.

In addition, the government is launching several programs to raise public awareness about early diagnosis. The National Diabetes Education Program (NDEP) collaborated with the Centers for Disease Control and Prevention (CDC) and the NIH. The National Diabetes Education Program (NDEP) strives to lessen the prevalence of prediabetes by delivering diabetes-related education to an eclectic group of people, including hard-to-reach inhabitants, faith-based communities, ethnic minorities, community-based organizations, and healthcare providers.

COVID-19 Influence on Self-Monitoring Blood Glucose Devices Industry:

The COVID-19 epidemic has augmented the growth of the Self-Monitoring Blood Glucose Devices Market. Due to the pandemic, a few market participants reported an increase in diabetes care revenue. For example, Abbott claimed in June 2020 that their glucose monitoring device FreeStyleLibre accounted for 59.3 percent of the company's sales growth in the first quarter of 2020. With the increased risk of coronavirus transmission among diabetes patients, a new focus has been on home usage monitoring devices to help patients regulate their blood glucose levels. According to Renub Research, Self-Monitoring Blood Glucose Devices Market was US$ 36.64 Billion in 2021.

Global Self-Monitoring Blood Glucose Devices Market Segmentation:

The self-monitoring blood glucose devices industry is categorized into Type 1 Diabetes and Type 2 Diabetes perspective for Diabetes Population, Blood Glucose Devices (SMBG) Market (Test Strips, Lancet, Glucose Meter), Blood Glucose Device (SMBG) Users and Reimbursement of Blood Glucose Devices of 17 Countries (United States, United Kingdom, Germany, Spain, Italy, Netherlands, Norway, Sweden, Switzerland, Australia, Kuwait, Brazil, Russia, India, China, South Africa, and Saudi Arabia)

Competitive Landscape:

The leading worldwide self-monitoring blood glucose market players are Roche Diagnostic, Abbott Laboratories, Dexcom, Inc., Medtronic, B. Braun Melsungen AG, and DarioHealth Corp. According to our data, these firms have a global market presence and hold a significant portion of the market. At the same time, the remaining manufacturers are limited to other local or regional manufacturers. Recent mergers and acquisitions between the participants have aided the corporations in strengthening their market presence.

Renub Research latest report “Self-Monitoring Blood Glucose Devices Market, Global Forecast (Type 1 Diabetes and Type 2 Diabetes), (Diabetes Population, Blood Glucose Devices (SMBG) Market (Test Strips, Lancet, Glucose Meter), Blood Glucose Device (SMBG) Users and Reimbursement of Blood Glucose Devices), Countries (United States, United Kingdom, Germany, Spain, Italy, Netherlands, Norway, Sweden, Switzerland, Australia, Kuwait, Brazil, Russia, India, China, South Africa, and Saudi Arabia), Companies (Roche Diagnostic, Abbott Laboratories, Dexcom, Inc., Medtronic, B. Braun Melsungen AG, and DarioHealth Corp.)” provides a detailed analysis of Self-Monitoring Blood Glucose Devices Industry.

Self-Monitoring Blood Glucose Devices Market has been studied for 17 Countries:

1. United States
2. United Kingdom
3. Germany
4. Spain
5. Italy
6. Netherlands
7. Norway
8. Sweden
9. Switzerland
10. Australia
11. Kuwait
12. Brazil
13. Russia
14. India
15. China
16. South Africa
17. Saudi Arabia

Self-Monitoring Blood Glucose Devices Market for the above mentioned countries is categorized from 2 viewpoints:

1. Type 1 Diabetes
2. Type 2 Diabetes

Further, the market for Type 1 Diabetes and Type 2 Diabetes have been covered from 4 viewpoints:

1. Diabetes Population
2. Blood Glucose Devices (SMBG) Market
a) Test Strips
b) Lancet,
c) Glucose Meter
3. Blood Glucose Device (SMBG) Users
4. Reimbursement of Blood Glucose Devices