Overview:
Diabetes monitoring is a type of testing that tries to detect the blood-glucose ratio to find out the concentration level. The process, in case of diabetes, involves piercing of the body part to receive a sample of the blood and then putting that on a chemically-active strip to understand the concentration level. The strip is disposable. These devices are known as diabetes monitor market. Other instruments are also available to check the urine sample or sweat sample. On the other hand, Abbott has launched one that requires no finger-pricking.
The global market for diabetes monitoring can enjoy strong growth due to the growing investment in research and development. Hike in disposable income is also expected to support the global market by spurring the intake of the product. Innovation can play a pivotal role in taking the market ahead.
Segmentation:
The study for global diabetes monitors Market relies on sample, type, component, and end-users for better analysis. The study includes factorial findings to support various details and provide better insights that can ensure better path selection for the coming years.
By sample, the market for diabetes monitor can include blood samples, urine samples, sweat samples, and others. All these samples play an integral part in the correct measurement of diabetes. However, blood samples are quite popular.
By type, the market for diabetes monitor includes continuous glucose monitors, point sample test-based glucose monitors, and enzyme-free sensor-based glucose monitors. The continuous glucose monitors segment includes re-usable sensor-based CGM, and disposable sensor-based CGM,
By components, the study includes glucose test strips, lancet, and sensors. The sensors segment comprises enzyme-based sensors and enzyme-free sensors
By end users, the report covers hospitals, diagnostic clinics, and home. All these segments are providing much traction. The simplicity of monitoring technology is giving traction to the home segment.
Regional Analysis:
The Americas has maximum market domination. Of the two major regions, North America is providing substantial market traction due to its superior infrastructure, solid investment capacity, high tendency to include technologies and others. Various companies are also operating from the region that can trigger boost for the market. Also, the market is gaining strong grounds due to the increasing patient population. Government initiatives are also remarkable. In South America, Argentina and Brazil are showing substantial growth capacity but these two countries can only provide growth with solid investment from various global players.
Europe is gaining substantial coverage due to the presence of several developed countries like France, the UK, Germany, Denmark, and others. Several countries from Northern Europe are showing strong potential. Governments are also making it mandatory to undergo several diabetes tests to ensure better safety provision for patients. Health insurances provide these compensations.
The APAC market is expected to gain a notable hike due to the increasing participation in the region from several governments. The devices are also cost-effective, which helps the market in gaining remarkable grounds. Huge patient pool and hike in technology can also ensure better market growth.
The Middle East and Africa may find the growth to be sluggish due to the presence of several weak economies.
Competitive Landscape:
A number of companies are expected to project strong growth for the global diabetes monitor market. These companies are Abbott Laboratories, Panasonic, F. Hoffmann-La Roche Ltd, Dexcom, Inc., Sanofi, Medtronic, LifeScan, Inc., and others. MRFR recorded their growth and profiled their moves for the market to understand the market route chart for the coming years in a better way. Their steps often rely on successful integration of various strategies that would not just solidify their market stance but would take the market ahead in the coming years.
In September 2019, Sanofi announced that they have decided to collaborate with Abbott to launch a new diabetes monitoring technology that would integrate better quality glucose sensing and superior insulin delivery technologies, in order to facilitate better diabetes management. The device would adopt FreeStyle Libre technology.
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