The Glucose Meter Market size is expected to reach USD 21.27 Billion in 2030 and register a revenue CAGR of 9.5% over the forecast period, according to latest report by Reports and Data. Increase in diabetes population across the globe and rise in awareness about diabetes preventive care are key factors driving market revenue growth. According to the World Health Organization (WHO), diabetes is a major cause of blindness, kidney failure, heart attack, stroke, and lower limb amputation. WHO further states that the prevalence of diabetes is rising more rapidly in low and middle-income countries.
Rising incidence of diabetes and obesity is posing a serious threat to the global healthcare system, and the need for proper screening of diabetes is becoming more important with increase in global geriatric population who are more prone to diabetes. Moreover, according to the International Diabetes Federation (IDF), one in two (50.1%) people leaving with diabetics do not know that they have diabetes. Furthermore, it estimates that the global prevalence of impaired glucose tolerance will increase from 7.5% in 2019 to 8.0% by 2030 and will reach 8.6% by 2045. Therefore, proper screening of diabetes is of utmost importance, along with increase in awareness about diabetes and diabetes prevention. In May 2021, for instance, the World Health Assembly agreed a resolution on strengthening prevention and control of diabetes. Such initiatives are expected to increase awareness about diabetes and regular monitoring of blood glucose levels, which is expected to drive revenue growth of the global glucose meter market during the forecast period.
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Some Key Factors Contributing to the Global Pharma Healthcare Market Growth
Unprecedented revenue growth of the global pharma healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in RD activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
Top Players in the Global Glucose Meter Market:
- Hoffmann-La Roche AG, Abbott Laboratories, Ascensia Diabetes Care, Medtronic PLC, LifeScan Inc., Nova Biomedical Corporation, OMRON Corporation, Nipro Medical Corporation, ACON Laboratories Inc., Prodigy Diabetes Care LLC, B. Braun Melsungen AG, Dexcom Inc., Ypsomed AG, Sanofi SA, Hainice Medical Inc., and Sannuo Biological Sensing Co Ltd.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma healthcare industry revenue growth over the recent past.
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Glucose Meter Market Segmentation:
Product Outlook (Revenue, USD Billion; 2019-2030)
- Self-Monitoring Blood Glucose System
- Continuous Glucose Monitoring System
Type Outlook (Revenue, USD Billion; 2019-2030)
- Wearable
- Non-Wearable
Testing Site Outlook (Revenue, USD Billion; 2019-2030)
- Fingertip Testing
- Alternate Site Testing
Technique Outlook (Revenue, USD Billion; 2019-2030)
- Invasive
- Non-Invasive
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Online
- Offline
- Retail Pharmacy
- Hospital Pharmacy
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Clinics / Diagnostic Centers
- Home Care
Global Glucose Meter Market Report: Regional Segmentation
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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Global Glucose Meter Market: Table of Contents
Chapter 1. Methodology Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma Healthcare Market Segmentation
4.1. Global Pharma Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter’s Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global Glucose Meter market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global Glucose Meter market?
- Which regional market is expected to lead in terms of revenue share in the global Glucose Meter market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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