Press release
Self-Monitoring Blood Glucose Devices Market in North America to hit $7.5 bn by 2024: Abbott, All Medicus, ARKRAY, Inc., Bayer Pharmaceuticals, Dexcom, Johnson & Johnson
Self-Monitoring Blood Glucose Devices Market
Key industry players operating in North America SMBG devices market are Abbott Laboratories, All Medicus, Arkray, B. Braun Melsungen AG, Bayer Healthcare, Bionime Corporation, Dexcom, F. Hoffmann-La Roche, Johnson & Johnson, LifeScan, Medtronic, Nipro Diagnostics, Nova Biomedical, Sinocare and Trividia Health. Market players are primarily focusing on new product launches as well as strategic mergers and acquisitions to broaden their customer base as well as consolidate market position in North America self-monitoring blood glucose devices industry.
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Growing adoption of unhealthy dietary habits coupled with physical inactivity has resulted in increase in obese population. Majority of obese people suffer from type 2 diabetes. Rising incidences of diabetes will act as high impact rendering factor for growth of self-monitoring blood glucose devices market.
Technological advancements in SMBG devices and increasing number of health-conscious people has stimulated adoption rate of such devices. Growing demand for minimal invasive disease monitoring tools that are easy operative in nature will positively impact growth of home healthcare self-monitoring blood glucose devices market.
Growing geriatric population base, highly susceptible to suffer from diabetes will account for majority share in adoption of diabetes monitoring devices. Presence of key industry players undertaking various strategies to strengthen their product portfolio by introducing superior products in the market will positively affect SMBG industry growth over the forecast period.
However, high cost associated with self-monitoring blood glucose monitors and stringent regulations pertaining to development of SMBG devices will restrain market size expansion to certain extent during the forecast period.
Testing strips product segment dominated the North America self-monitoring blood glucose devices market with USD 4.4 billion revenue in 2017 due to its wide application in home blood glucose monitoring and rising number of people suffering from diabetes. Testing strips form an essential component of blood glucose testing. Thus, rising number of people undergoing blood glucose testing will drive business growth over the coming years.
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Home settings end-user segment of North America self-monitoring blood glucose devices market is anticipated to witness lucrative growth during the forecast period owing to growth of home healthcare sector, rising demand for minimal invasive disease monitoring devices and availability of several user-friendly SMBG devices in the market will drive segment growth.
Canada self-monitoring blood glucose devices market will grow considerably during the forecast period owing to technological advancements in SMBG devices and rising demand for self-diabetes monitoring devices. Growing adoption of unhealthy food habits with high consumption of alcohol and tobacco smoking has led to rise in diabetic population thereby fueling industry growth.
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Segments We Cover:
North America Self-Monitoring Blood Glucose Devices Market, By Product
Self-monitoring blood glucose meters
Continuous glucose monitors
Testing strips
Lancets
North America Self-Monitoring Blood Glucose Devices Market, By End-user
Hospitals
Home settings
Diagnostic centers and clinics
The above information is provided for the following region and countries:
U.S.
Canada
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