Global Glucose Monitoring Devices Market Analysis , Share , Trends and Forecast by 2022
Orbis Research Monday , March 6th , 2017
The global glucose monitoring devices market accounted for USD XX million in 2016 and is projected to reach USD XX million in 2021 , growing at a CAGR of XX % during the forecast period .
With the rise in the number of cases of diabetes being recorded worldwide , it is necessary for patients around the world to have their blood glucose level continuously monitored to avoid the consequences of high glucose level like cardiovascular diseases , a blood disorder , blindness , kidney disorder and many other conditions . WHO estimates the prevalence of diabetes among adults over 18 years of age to have risen from 4.7 % in 2012 to 8.5 % by 2014 . It also projects high blood glucose level and diabetes to be the 7th leading cause of death in 2030 .
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Blood glucose monitoring devices are used to monitor the blood glucose in patients suffering from diabetes or other glucose-related diseases like glucose intolerance . The rapid increase in diabetes has shown a steady growth in the overall blood glucose monitoring market . Moreover , such patients are at a potential risk of having long-term and fatal ailments like cardiovascular diseases , retinal detachment leading to blindness , kidney failure and other retinal ailments , stroke , and many such life-threatening conditions . This has led to the spread of awareness about continuous monitoring of blood glucose level .
Global Glucose Monitoring Devices- Market Segmentation The glucose monitoring market has been segmented based on self-monitoring devices , continuous monitoring devices and on the application in various areas . Self-monitoring devices are the conventional methods of blood glucose monitoring and have been used for decades . They have found their utilization in homes , hospitals and clinic setups . The self-monitoring devices market has been further segmented into blood glucose meters , blood glucose strips , lancets , and others . The glucose monitoring strip market has the largest market size . However , recent technological innovations have seen the growth of the continuous glucose monitoring ( CGM ) devices . These are small wearable devices that track glucose throughout the day and night , notifying of the highs and lows of sugar levels .
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They are real-time monitoring devices that have helped in better diabetes management . The continuous glucose monitoring devices market is segmented into sensors , transmitters and activators , insulin pumps and others . The sensors , owing to their small life cycle , have the highest demand and also account for the highest market share .
Based on applications , the market is segmented into hospitals , clinics and diagnostic centers , home setting and ambulatory settings . The hospital