In the last few years, there’s been a steady rise in the prevalence of diabetes, and simultaneously the risk factors that lead to diabetes have also increased significantly.
Self-monitoring Blood Glucose Devices Market Overview:
In the last few years, there’s been a steady rise in the prevalence of diabetes, and simultaneously the risk factors that lead to diabetes have also increased significantly. These factors have given way to high-end technological advancements associated with blood glucose monitoring devices, thereby boosting the market growth in several ways. Also, surge in geriatric population and surge in awareness regarding diabetes monitoring expedients have supplemented the market growth yet more. At the same time, huge untapped markets in the emerging economies have also been immensely beneficial for the market growth.
According to Allied Market Research, the global self-monitoring blood glucose devices market is projected to witness a considerable CAGR from 2020 to 2027. Government bodies in the majority of countries are undertaking widespread initiatives to shoot up awareness among people with respect early diagnosis. The widely known National Diabetes Education Program (NDEP) emphasizes on plummeting the very burden of pre-diabetes by doling out diabetes-related education especially hard-to-reach populace, faith-based establishments, community-based clutches or societies, ethnic groups, and even to healthcare providers.
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Top Leading Players:
- Abbott Laboratories
- Arkray, Inc.
- B. Braun Melsungen Ag
- Bionime Corporation
- F. Hoffmann-La Roche Ltd.
- Lifescan Ip Holdings, Llc (Platinum Equity)
- Phc Holdings Corporation
- Terumo Corporation
- Trividia Health, Inc. (Sinocare)
- Ypsomed Holding Ag.
Impact of COVID-19 Pandemic on Self-monitoring Blood Glucose Devices Market:
Here, it’s worth mentioning that the outbreak of Covid-19 pandemic has had a positive impact on the self-monitoring blood glucose devices market. The fact that diabetic patients are more susceptible to the Covid-19 virus and have a possibility of becoming sternly ill once exposed to the virus has increased the demand for self-monitoring blood glucose devices. Also, in order to comply with the concurrent rules & dictums, people were not up with the zing to visit hospitals until it was really serious, especially during the initial phase of the pandemic. This, in turn, led to growing adoption of the devices for home settings. And, this trend is pretty likely to continue till the epidemic is completely gone.
NICE, (the National Institute for Health and Care Excellence) in England has recently considered recommendations to vividly magnify access to constant blood glucose monitoring devices to all individuals with type 1 diabetes and some with the type 2 variety. Under the pitches, adults with type 1 diabetes would have a choice of a real-time CGM model or flash display, according to their respective preferences. Flash monitors that provide sporadic CGM should also be obtainable in adults with the type 2 variety on several daily insulin injections, in case they have persistent hypoglycaemia, or have certain disability that do not let then self-monitor their glucose level in blood.