The global Blood Glucose Meter market is likely to expand considerably in the coming years due to advent of non-invasive devices. According to a report published by Fortune Business Insights, titled “Blood Glucose Meter: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 7,419.0 Mn in 2018. Fortune Business Insights states that this market is likely to reach US$ 15,415.6 Mn by 2026, thereby exhibiting a CAGR of 9.6%.
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some of the key players in the global Blood Glucose Meter Market:
- Hoffmann-La Roche Ltd
- Dexcom, Inc.
- Braun Melsungen AG
- Lifespan Inc.
- Ascensia Diabetes Care Holdings AG.
- Terumo Medical Corporation
In this report, Fortune Business Insights has indicated that the market will grow in the near future due to the increasing demand and the subsequently rising uptake of blood glucose meters. Increasing incidence of diabetes has been a leading factor that is responsible for the surge in demand of blood glucose meters. According to the International Diabetes Federation (IDF), in 2017, around 425 million people suffered from diabetes, worldwide. Furthermore, it also states that this number is likely to reach 629 million by the year 2045. High prevalence of diabetes, combined with the accuracy of digital Blood Glucose Meter in detecting blood pressure and sugar levels are driving the global Blood Glucose Meter market.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/blood-glucose-meters-market-100770
Abbott’s Freestyle Libre Flash Glucose Monitoring Device Receives FDA Approval
In 2017, Abbott received clearance from the Food and Drug Administration for its Libre Flash device. The device was approved for patients with type 1 and type 2 diabetes, after a series of successful clinical trials. The blood glucose meter’s accuracy is expected to result in huge demand in the coming years. Abbott’s latest device is likely to bolster growth of the global Blood Glucose Meter market and is likely to favor growth of the market in the forthcoming years.
Some of the leading companies operating in the global Blood Glucose Meter market are F. Hoffmann-La Roche Ltd, Dexcom, Inc., B. Braun Melsungen AG, Medtronic, Lifespan Inc., Ascensia Diabetes Care Holdings AG., Terumo Medical Corporation, Abbott, Sanofi and DiaMonTech GmbH.
Launch of DiaMonTech’s IR-based Blood Glucose Meter to Spur Growth Opportunities
Conventional Blood Glucose Meter involved the need for invasive techniques for diagnosis. The most commonly used methods involved taking blood samples with the help of needle pricks in fingers. The needle prick method was painful for many users and it caused discomfort to some. Therefore, there has been a constant need for an alternative to the invasive devices for continuous glucose monitoring. In 2018, DiaMonTech announced the launch of a compact blood glucose meter. The device performed on an infra-red technology that is used to count the glucose molecules. This product is likely to transform existing blood glucose monitoring techniques and is likely to witness high demand from around the world. The advent of non-invasive devices is likely to induce growth in the global Blood Glucose Meter market.
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