October 04, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Self-monitoring Blood Glucose Devices Market Insights, Forecast to 2025’, the worldwide self-monitoring blood glucose devices market is predicted to register significant growth by the year 2025.
Self-monitoring blood glucose (SMBG) device has become an essential element of modern therapy for diabetes mellitus. The device is used to acquire information about blood glucose levels at various time intervals in order to maintain a more consistent glucose level by following precise regimens. It is used extensively by healthcare professionals and diabetes patients to achieve the required level of glycemic control and to avert hypoglycemia, which is augmenting the SMBG devices market growth.
The research provides a comprehensive insight about segmental growth, trends, drivers, challenges, opportunities impacting the market growth. It also studies the distribution channel, customer spectrum, marketing strategies adopted by the key players of SMBG devices market.
Speaking of the application spectrum, the market is segmented as private hospital, clinics, pharmacy shops, and public hospital. The self-monitoring blood glucose market from pharmacy shops segment held 50.02% share in 2017, owing to massive sales of device.
Considering the product type, the market is fragmented as lancet, glucose meter, strips, and others. The strips segment dominated the SMBG devices market with 85.08% share in 2017 and is anticipated to increase steadily over the analysis period.
Based on the geographical landscape, the market is bifurcated into five major regions; India, Vietnam, Japan, Malaysia, China, South Korea, Australia, Thailand, Philippines, Singapore, and Indonesia come under Asia Pacific; the U.S, Mexico and Canada compose North America; Brazil and rest of Central & South America combine to form Central & South America; Europe comprises of UK, France, Russia, Italy, Spain and Germany; and Egypt, South Africa, Turkey, and GCC countries fall under Middle East & Africa region.
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Furthermore, Central Thailand led the self-monitoring blood glucose devices market with 45.92% share in 2017, whereas Northern Thailand contributed 24.97% share towards sales during the same year.
The prominent manufacturers operating in the SMBG devices market include Terumo, Roche Diagnostics, Ascensia (Bayer) , Abbott Laboratories, and Lifescan.