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The blood glucose monitoring system market share is expected to increase to USD 5.62 billion by 2026 at a progressing CAGR of 9.06%.
This blood glucose monitoring system market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blood glucose monitoring system market segmentations by the following:
The blood glucose monitoring system market report also offers information on several market vendors, including Abbott Laboratories, ACON Laboratories Inc., ARKRAY Inc., B. Braun SE, Dexcom Inc., DiaMonTech AG, F. Hoffmann La Roche Ltd., GlySens Inc., i-SENS Inc., Indigo Diabetes NV, Intuity Medical Inc., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, Nipro Corp., OK Biotech Co. Ltd., PHC Holdings Corp., Prodigy Diabetes Care LLC, WaveForm Technologies Inc., and Ypsomed Holding AG among others.
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The availability of reimbursement for BGM devices is notably driving the blood glucose monitoring system market growth, although factors such as lower diagnosis and treatment rate may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blood glucose monitoring system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Blood Glucose Monitoring System Market Driver
Key Blood Glucose Monitoring System Market Trend
Key Blood Glucose Monitoring System Market Challenge
This blood glucose monitoring system market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global blood glucose monitoring system market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blood glucose monitoring system market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the blood glucose monitoring system market encompasses successful business strategies deployed by the key vendors. The blood glucose monitoring system market is fragmented and the vendors are deploying growth strategies such as investment in R&D to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The blood glucose monitoring system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the blood glucose monitoring system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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39% of the market's growth will originate from North America during the forecast period. The US is the key market for blood glucose monitoring systems in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).
An increase in technological advances, a high incidence of type 1 and type 2 diabetes, and the increasing number of approvals by the US Food and Drug Administration (FDA) for new products will facilitate the blood glucose monitoring system market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The rise in the number of COVID-19 cases in 2020 and early 2021 led to partial lockdowns in several countries, including Canada and Mexico. Hence, the sales of BGM systems declined slightly through offline medical stores; however, the pandemic also led to an increase in the use of e-commerce channels, which, in turn, led to a rise in the demand for BGM systems through online channels. However, by the second half of 2021, lockdown-related restrictions were relaxed in various countries, which included the resumption of businesses and nonessential services due to the COVID vaccination drives. Thus, the resumption of healthcare equipment manufacturing will cater to the demand for BGM systems in North America through both online and offline channels, and the market in focus will register an accelerating growth momentum during the forecast period.
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The blood glucose monitoring system market share growth by the self-monitoring segment will be significant during the forecast period. The growth of the self-monitoring of blood glucose (SMBG) segment is attributed to the rise in the prevalence of diabetes globally.
This report provides an accurate prediction of the contribution of all the segments to the growth of the blood glucose monitoring system market size and actionable market insights on post COVID-19 impact on each segment.
Blood Glucose Monitoring System Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.06% |
Market growth 2022-2026 |
$ 5.62 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.44 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 39% |
Key consumer countries |
US, Finland, Sweden, China, and India |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Laboratories, ACON Laboratories Inc., ARKRAY Inc., B. Braun SE, Dexcom Inc., DiaMonTech AG, F. Hoffmann La Roche Ltd., GlySens Inc., i-SENS Inc., Indigo Diabetes NV, Intuity Medical Inc., Koninklijke Philips NV, LifeScan IP Holdings LLC, Medtronic Plc, Nipro Corp., OK Biotech Co. Ltd., PHC Holdings Corp., Prodigy Diabetes Care LLC, WaveForm Technologies Inc., and Ypsomed Holding AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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