Global Blood Glucose Monitoring Devices Market Development Analysis Feb-2017

Global Blood Glucose Monitoring Devices Market 2017-2021
The Blood Glucose Monitoring Devices Market report contains a comprehensive market and vendor
landscape in addition to a SWOT analysis of the key vendors for 2017-2021. The following companies are
the key players in the global Blood Glucose Monitoring Devices market: Bosch, Continental, ZF, Autoliv,
and WABCO. Other Prominent Vendors in the market are: Brakes India, Hyundai Mobis, and Mando.
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One trend in market is smart watch-based apps. The Dexcom CGM and its mobile apps Follow and Share
2 are the first mobile-connected systems approved by the US FDA. This device allows users to directly
view the glucose data on their iPhone. Currently, Dexcom provides its devices G4 platinum CGM with
Share that supports the Apple watch. Along with this, the users can invite up to five people to view their
glucose information, and an alert message can be sent when the user's glucose levels are above normal
range.
This is a significant breakthrough in diabetes management. The use of glucose meters is supplemented
by CGM devices in diabetes management. Meters still play a major role in calibrating CGM devices and
in guiding therapy and meal decisions. In addition to providing the glucose levels, CGM devices provide
the direction and rate of change in glucose levels with the push of a button and alerts users when the
glucose level is too low or too high.
According to the report, one driver in market is growing prevalence of diabetes in the world. In 2015,
approximately 415 million people in the world had diabetes, which is expected to increase to around
642 million by 2040. As of 2015, it has been estimated that 9.1% adults in the world have diabetes and
this is expected to increase to 10% by 2040. In addition, 75%-80% of the individuals with diabetes
belonged to low- and middle-income countries. The number of people with diabetes is high in APAC.
According to OECD, the prevalent cases are going to reach about 47,973,000 in Europe, 66,812,000 in
the Americas, and 18,234,000 in Africa by 2030. The global prevalence of diabetes was estimated to be
9% among adults aged above 18 years.
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Further, the report states that one challenge in market is high cost of BGM devices. The high cost of
BGM devices is a major challenge hindering the growth of the global BGM devices market. Most invasive
BGM devices are both painful as they use a lancet to prick the fingertip to extract blood required for
testing. They are also expensive due to the consumable test strips that are needed to test the blood.
So, many diabetic patients are reluctant to adopt BGM devices and do not monitor their blood glucose
levels as often as they should. Moreover, calibration of the BGM systems is also very expensive. So,
despite the numerous benefits, the high cost of BGM devices hinders their acceptance among patients.
The average price of lancing devices ranges from $30 to $35 in most countries.