Diabetes occurs when the pancreas does not produce necessary amount of insulin or when it cannot use the insulin effectively. Hyperglycemia or increased blood sugar is a usual effect of uncontrolled diabetes and in a course of time, it results in serious damage to many of the body's systems, particularly the nerves and blood vessels. Diabetes can cause a heart attack, blindness, nerve damage, kidney disease, stroke, and other serious health problems, thus proper monitoring glucose level is important to maintain health. Furthermore, Asia Pacific is fasted growing region for diabetes drug market owing to growing the prevalence of diabetes in India and China country is increasing the demand of the glucose monitoring devices in this region. Around, 114 million in China and 72 million in India people are suffering from diabetes.
The global glucose monitoring devices market is segmented by product and application.
On the basis of product, the market is segmented into blood glucose monitors, glucose monitoring Strips and Lancets. Blood glucose monitors is leading segment in the forecast period. Testing of blood sugar level used to calculate percentage of the sugar in the body. Furthermore, it is also used to check the effects of the medication different foods.
Based on the application, the market is segmented into hospitals and clinics, diagnostic centers and home settings.
Depending upon the geographical analysis, the glucose monitoring devices market includes major four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).
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North America is expected to hold major market share of the global glucose monitoring devices market. This is attributed to increasing the prevalence of Type 2 diabetes.
Europe is projected to be the second leading region for glucose monitoring devices market. Increasing obese population is the major cause of prevalence of diabetes. Thus, rising number of incidence of diabetes is boosting the growth of glucose monitoring devices market.
Asia Pacific is likely to be the fastest growing market for glucose monitoring devices market. This is attributed to increasing incidence of diabetes in adult and children. Growing awareness about the health and health care infrastructure is supporting the growth of the market.
LAMEA is expected to witness considerable growth in the market during the forecast period. The significant growth in the regional market is attributed to increasing prevalence of diabetes.
Prominent players in glucose monitoring devices market include Life scan Inc., Becton, Dickinson and Co., Terumo Corporation, Acon Laboratories Inc., Roche Diagnostics Ltd., Johnson & Johnson, ARKRAY Inc., Novo Nordisk A/S, Medtronic, Abbott Laboratories, Bayer AG, Ypsomed AG, and Sanofi.
Blood Glucose Monitoring Devices Market Segmentation
In August 2017, ARKRAY USA, Inc. launched glucocard shine XL, which provides highly accurate readings and easy to use.