Overview
The Diabetes Monitors Market Size is projected to reach USD 11,775.58 Million by 2030 at 7.80% CAGR during the forecast period 2022-2030.
According to analysts, increasing prevalence and growing incidence of diabetes as well as diabetes in low and middle-income countries will drive the market growth during the forecast period. The diabetes monitors market research report offers a comprehensive analysis of the global diabetes monitors market and its component, end-users, type, and sample segments. The High diagnosis cost along with stringent reimbursement policies are the elements that could influence the diabetes monitors market advancement throughout the forecast period. The diabetes monitors market research report by the industry’s expert analysts is developed to assist organizations in the diabetes monitors market.
Diabetes Monitors Market Overview and Research Report By Sample (Blood, Sweat, Urine), Type (Point Sample Test-Based Glucose Monitors, CGM, Component (Lancet, Glucose Test Strips, Sensors (Enzyme Based and Enzyme Free Sensors)), End Users - Forecast till 2030
Market Segmentation
The global diabetes monitors market has been segmented based on component, end-users, type, and sample.
On the basis of components, the market for diabetes monitors is segmented based on glucose test strips, sensors (enzyme-free sensors and enzyme-based sensors), and lancet.
Additionally, the market on the basis of end-users, is segmented into diagnostic clinics, hospitals, and homes. The global market for diabetes monitors is also covered based on type segment which is further split into enzyme-free sensor-based glucose monitors, continuous glucose monitors (reusable sensor based CGM, and disposable sensor-based CGM), and point sample test based glucose monitors.
On the basis of samples, the market for diabetes monitors is segmented based on blood samples, sweat samples, urine samples, and others.
Major elements such as high treatment cost could obstruct the diabetes monitors market growth. However, according to the diabetes monitors market research report, the rise in technological innovations along with quick approvals from regulatory bodies will propel growth throughout the forecast period. The diabetes monitors market is set to register growth at a high CAGR owing to these key factors. The exploration of component, end-users, type, and sample segments along with regional markets has been given in the global diabetes monitors market research report. The research analysts studying the diabetes monitors market have put out market forecasts in the diabetes monitors market research report in order to support diabetes monitors market-based companies. The diabetes monitors market research report provides an extensive understanding of the diabetes monitors market based on the information and forecasts till 2023.
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for diabetes monitors are predominantly covered in the global diabetes monitors market research report. Country-level diabetes monitors markets spread across North America – the United States, Canada, and Mexico are also covered in the report and are expected to reach US$6623.4 million mark by 2023. In South America – Brazil and other country-level diabetes monitors markets are covered in the report. In Asia-Pacific (APAC) region, which is expected to grow at a CAGR of 8.9%, the country-level diabetes monitors markets covered are Japan, India, China, and others. The diabetes monitors market research report also explores the regional market for diabetes monitors present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The diabetes monitors market research report also covers regional markets from the rest of the world alongside diabetes monitors markets of Africa and the Middle East.
Competitive Landscape
Rapid urbanization and sedentary lifestyle choices are presumed to drive diabetes monitors market growth worldwide. The global diabetes monitors market could be challenged by infrastructure based limitations, nevertheless, organizations in the diabetes monitors market will carry the growth rate forward. The diabetes monitors market research report presents company profiles of major companies active in the diabetes monitors market globally. Furthermore, the global diabetes monitors market report offers an all-inclusive analysis of the market collected from the diabetes monitors market’s primary and secondary sources covering both decision makers and thought leaders. The diabetes monitors market research report highlights such key areas assisting businesses operating in the diabetes monitors market to build better growth strategies.
Industry News
A start-up in Japan at CES claims to have overcome one of the major medical technology issues, namely noninvasive continued monitoring of glucose. The interactive display from Quantum Operation Inc claims that its wearable prototype tests blood sugar from the wrist accurately. The prototype craps in a tiny spectrometer that scans blood to test glucose, looking like an Apple Watch that has a knock-off look. The pitch of Quantum adds that the watch can also read other vital signs, including cardiovascular and ECG.
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