Blood Glucose Monitoring Market | COVID-19 Impact Analysis
Global Blood Glucose Monitoring Market Size, Trends and Growth Analysis By Product Type (Invasive, Continuous, Flash), Application (Type 1 Diabetes, Type 2 Diabetes) and End User (Diagnostic Centers, Hospitals, Clinics) - Forecast till 2027
The new report from Market Research Future (MRFR) presents a detailed analysis of the Americas blood glucose monitoring market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the Americas blood glucose monitoring market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the Americas blood glucose monitoring market are also studied in the report and projections are made for the growth trajectory of each distinct component. The various segments and sub-segments within the Americas blood glucose monitoring market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the Americas blood glucose monitoring market and provides a detailed look at the various competitive strategies employed by players in the Americas blood glucose monitoring market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.
The growing prevalence of diabetes in North America is the primary driver for the Americas blood glucose monitoring market. Diabetes has grown in the U.S. and Canada due to the widespread consumption of high-fat diets and sugary drinks. Sugary drinks, in particular, are widely consumed in North America. These foods are linked closely to the incidence of diabetes, as blood sugar levels are closely linked with diabetes. This has led to a growing demand for blood glucose monitoring procedures and devices in North America. The rising prevalence of diabetes in the U.S. is likely to be a major driver for the Americas blood glucose monitoring market over the forecast period.
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1.5 million new cases of diabetes are diagnosed every year in the U.S., revealing the extent of the problem caused by the disease. Around 30 million Americans had diabetes, diagnosed or undiagnosed, in 2015, with around 9.4% of the population affected by the disease. Among geriatrics, the prevalence rate was even higher, with more than 25% of geriatrics, totalling 12 million individuals, suffering from the disease. In addition, in 2015, more than 84 million Americans were estimated to be prediabetic. This demographic is crucial for the Americas blood glucose monitoring market, as this demographic has extra incentive to keep track of blood glucose numbers and undergo blood glucose monitoring procedures. Diabetes was the 7th leading cause of death in the U.S. in 2015, with more than 250,000 deaths being attributed or linked to the disease. This is likely to drive the awareness about diabetes in the U.S., thus driving the Americas blood glucose monitoring market at a strong growth rate over the forecast period.
Segmentation:
By type, the Americas blood glucose monitoring market is segmented into blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring (CGM) devices. The lancets segment is further bifurcated into standard and safety lancets.
Regional Analysis:
The report explores the Americas blood glucose monitoring market by profiling the market’s standing in North America and Latin America. Within North America, the U.S. and Canada markets are given detailed attention, as these two markets, and especially the U.S., are the major regional markets in the Americas blood glucose monitoring market. In the Latin America segment, Brazil, Argentina, and Colombia are assessed in isolation, with the other countries in Latin America dealt with under the heading of rest of Latin America. The U.S. is likely to remain the largest regional market within the Americas blood glucose monitoring market over the forecast period till 2021.
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