The global market for Glucose Monitoring Devices estimated at US$24.8 Billion in the year 2023, is projected to reach a revised size of US$118.1 Billion by 2033, growing at a CAGR of 16.9% over the analysis period 2023 to 2033
NEWARK, Del: According to Future Market Insights’ most recent industry report, the global glucose monitoring devices market was valued at roughly US$ 21.3 Billion in 2022 and is expected to rise at a CAGR close to 16.9% over the forecast period, reaching an estimated worth of US$ 118.1 Billion in 2033.
Over the past 20 years, diabetes has escalated to a severe health concern with an unparalleled rate of global growth. It is a significant contributor to death in those aged 20 to 79. The World Health Organization has classified diabetes as a global pandemic due to its rapidly increasing prevalence.
Patients with diabetes require regular monitoring. Costs associated with patient monitoring can be decreased by utilizing technologies for information and communication, artificial intelligence, and smart devices together. Diabetes is mostly brought on by changes in blood glucose levels, and it is important to keep them steady for a set period.
Request Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-16747
The adoption of continuous glucose monitoring devices, which are emerging as a novel technique for monitoring glucose levels, is growing along with the number of diabetic patients. Every ten minutes, these devices update the real-time glucose level data they provide. The preservation of healthy blood glucose level is the only method for a diabetic to prevent potentially fatal diabetic complications, and glucose monitoring is an essential component of diabetes management.
Non-invasive glucose monitoring has recently become more popular as it lessens the discomfort and suffering experienced by diabetics who must prick their skin more than four times per day to measure their blood glucose levels.
With increasing prevalence of diabetes, as well as advancements in sensor-based technologies for patient monitoring, the market is set to expand at a lucrative pace, over the forecast period.
Key Takeaways from Market Study
- Self-monitoring devices are the leading segment as product, and hold approximately 58.3% market value share in 2022, owing to their automated and reliable monitoring process.
- Diabetes type II segment is set to lead in terms of indication of glucose monitoring devices with an estimated market value share of around 90.1% by 2023, owing to the high prevalence of type II diabetes globally.
- By end user, hospitals held a market share of around 46.7% in 2022, owed to the adoption of continuous monitoring devices in hospitals to reduce the number of fingerstick point of care capillary blood glucose tests, hyperglycemic episodes, and hypoglycemic episodes.
- North America holds a value share of 34.0% in 2022, owing to the high prevalence of chronic diseases in the region.
“Rising initiatives to integrate artificial intelligence, as well as digital technologies to blood glucose monitoring devices, as well as growing new product launch activities, are factors propelling the growth of the global glucose monitoring market,” says an analyst of Future Market Insights.
View Complete Report@ https://www.futuremarketinsights.com/reports/glucose-monitoring-devices-market
Key players’ rigorous research led to the development of improved technologies such as flash glucose monitoring and continuous glucose monitoring. Companies also engage in strategic initiatives such as new product launches and mergers and acquisitions.
- All consumers with diabetes type 1 are now covered for the Dexcom G6 rtCGM System under the Non-Insured Health Benefits Program, according to an announcement made by Dexcom, Inc. in January 2023.
- Abbott disclosed in June 2022 that it is creating a new biowearable that combines a sensor to continually monitor both glucose and ketone levels. The U.S. FDA has granted the system breakthrough device classification.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the glucose monitoring devices market in its latest study, presenting a historical demand assessment of 2015 to 2022 and projections for 2023 to 2033. The global glucose monitoring devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Key Market Segments Covered in Glucose Monitoring Devices Industry Research
- Self-Monitoring Devices
- Continuous Monitoring Devices
- Diabetes Type I
- Diabetes Type II
- Diagnostics Centres
- Home Care Settings
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-16747
Table of Content
1. Executive Summary | Glucose Monitoring Devices Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions and Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Market Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption/Usage Analysis
4.2. Disease Epidemiology
4.3. Key Promotional Strategies
4.4. Payer Mix Analysis
4.5. Recent Product Launches and Approvals
4.6. Reimbursement Scenario
4.7. Value Chain Analysis
4.8. Regulatory Scenario
4.9. PESTEL Analysis
4.10. Porter’s Analysis
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
Have a Look at Related Reports of Healthcare domain
Dental Whitening Lamps Market Size: The overall demand for dental whitening lamps is projected to grow at a CAGR of 4.4% between 2022 and 2032, totalling around US$ 533 Million by 2032.
Dental Units Market Share: The global dental units market is expected to surge to US$ 1,023.1 Million in 2032 as compared to US$ 604.7 Million in 2022.
Neuro-monitoring System Market Demand: The global neuro monitoring system market size is anticipated to be valued at US$ 9.4 Billion in 2032.
Wearable Blood Pressure Monitor Market Growth: The sales of wearable blood pressure monitors are expected to surpass a valuation of US$ 2.1 Billion by 2022, exhibiting growth at a remarkable CAGR of around 15% to 16% during the forecast period 2022 to 2032.
Heat Therapy Units Market Overview: The global heat therapy units market is expected to reach US$ 3.5 Billion by 2022. The demand for heat therapy units is estimated to exceed a valuation of US$ 8.5 Billion by the end of 2032.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, US, and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA