Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 14.79 Billion | USD 31.5 Billion | 10.12% | 2021 |
FrequentlyAsked Questions
The number of patients worldwide suffering from type 1 and type 2 diabetes has grown exponentially over the last couple of years. This rising insulin dependency is expected to propel the global market towards growth in the forecast period. The presence of multiple manufacturers of blood glucose monitoring systems offering technically advanced devices at favorable prices is anticipated to contribute to the global market growth during the forecast period. The developed economies having state-of-the-art medical facilities are expected to fuel the global market.
According to Zion Market Research, the global blood glucose monitoring system was at a net worth of $14.79B in 2021 and is projected to grow at a CAGR of 10.12% between 2022-2028 & reach a market value of $31.5B during the forecast period
North America was attributed with the highest global blood glucose monitoring system market in 2021 owing to a 35.5% share of the global revenue. It is expected to follow the growing trend during the forecast period. North America is followed by Europe owing to the awareness and proactive approach of their population in diagnosing and managing diabetes Asia-Pacific is anticipated to register a higher CAGR during the forecast period because of rising acceptance of BGM devices and growing standard of living. The Middle East, Latin America & Africa are expected to show steady growth majorly because of a lack of awareness amongst the population about proper diabetes management.
The global blood glucose monitoring system market is dominated by leaders like Glysens Incorporated, Lifescan IP Holdings, Senseonics, Prodigy Diabetes Care, B. Braun Melsungen AG, Terumo Corporation, ACON Laboratories, Medtronic, F.Hoffmann-la Roche, Sanofi, Dexcom Inc, Novo Nordisk, Insulet Corporation, Ascensia Diabetes Care, Ypsomed Holdings, Nova Biomedical.
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