Market New Research Blood Glucose Monitoring Devices Market by 2022 | Page 2

With the advancement of technology, glucose monitoring has become very simple and convenient. The blood glucose
monitoring devices market is moving towards minimal invasive techniques as they are less painful, takes less time and
has low blood loss. An initiative has been taken to develop a new device for glucose monitoring using sweat or tears
instead of blood to detect the glucose level in blood. The increase in usage of the devices has changed the lifestyle of
the people.
A new hybrid glucose monitoring device has been approved in Europe. It is a wireless touchscreen color reader in
which finger prick is not required. A new technology is going to come up with a touchscreen and modern meter having
cloud connectivity named as “Livingo”. Abbott’s Freestyle Precision Neo, a slender meter using the strips. It is portable,
affordable and easy to use
In February 2014, FDA approved the first continuous glucose monitoring system for children of age 2-17 years. Named
as Dexcom G4 Platinum. Most of the devices includes finger prick test, but a new device was developed in which laser
device is used. In 2004, Medtronic Inc. developed a continuous glucose monitoring device as “Guardian” approved by
FDA. The new innovative devices and improved functional features will increase the demand for the glucose
monitoring device
The blood glucose monitoring devices market is segmented on the basis of type of product which include blood glucose
meter, blood glucose testing strips and Lancets. Blood glucose meter determines the imprecise concentration of blood
glucose level. It is further segmented into traditional glucose meters and continuous glucose meters (assess blood
glucose levels on a continuous basis). The efficiency and accuracy of the blood glucose monitoring devices and
availability of them at nominal cost supports the market growth. Blood glucose testing strip type is one of the major
segment among all the devices due to the affordable price, easy to use and easy availability in the market. In addition,
the growing use of strips in institutions and home boost the sales of the device.
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Geographically, the blood glucose monitoring devices market is segmented in North America, Europe, Asia Pacific and
rest of the world. North America is expected to hold one of the largest market share owing to higher number of diabetic
patients, increase in geriatric population, rise in healthcare expenditure, high healthcare infrastructure and active
reimbursement policies. According to CDC data, 9.3% of the U.S population have diabetes, out of which 27.8% of
diabetic people are undiagnosed.
Asia Pacific blood glucose monitoring devices market is estimated to have a lucrative growth over the forecast period.
The rise in overall population growth, high disposable income and upcoming government initiatives are the factors
supporting the market growth of the region. The key pl