Blood Glucose Monitoring System Market is expected to reach USD XX Billion by 2026 from USD 8.81 Billion in 2018 at a CAGR of XX % (Detailed analysis of the market CAGR is provided in the report).
Testing of blood sugar level is one of the best ways to understand diabetes and how different foods, medications, and activities affecting diabetes. Portable blood glucose meters, called glucometers are largely used to check blood sugar levels. These work by testing a small amount of blood, typically from a fingertip.
The blood glucose monitoring market based on product is segmented into self-monitoring blood glucose systems and continuous glucose monitoring systems. The continuous glucose monitoring system is expected to be one of the major contributors for the market growth during the forecast period due to increasing adoption of minimally invasive procedures. Based on the testing site, the fingertip testing segment is expected to dominate the market growth. The market based on patient care setting has been divided into self/home care and hospital & clinics.
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The self/home care segment is accounted for one of the largest market shares of the market. This is due to increasing diabetic population and awareness about regular monitoring of glucose levels. The applications covered in this market are type 1 diabetes, type 2 diabetes, and gestational diabetes. The type 2 diabetes segment is expected to grow at a high CAGR during the forecast period. This is due to the increasing prevalence of type 2 diabetes and number of innovative product launches with less invasive technologies.
Geographically, North America is expected to be one of the largest markets for blood glucose monitoring. This is attributed to increasing awareness, FDA approvals in the US and the growing incidence of diabetes in the US and Canada.