Europe Self-Monitoring Blood Glucose (SMBG) Devices Market Drivers, Challenges, Key Regions and Fore
Posted: Feb 15, 2019
The Graphical Research report provides a comprehensive analysis of the "Europe Self-Monitoring Blood Glucose Devices (SMBG) Market based on Product, End-User, Industry Analysis Report, Regional Outlook, End-User Potential, Competitive Market Share & Forecast, 2018 – 2024".
Europe SMBG Devices Market size is set to surpass USD 6.5 billion by 2024. Increasing number of baby boomers and rising number of people diabetic cases will act as primary driver for growth of Europe self-monitoring blood glucose devices market over the forecast timeframe.
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Presence of associations such as Primary Care Diabetes Society creating awareness about the target disease to promote adoption of diabetes monitoring tools will positively impact industry growth over the coming years. However, stringent regulations pertaining to development of SMBG devices and high cost associated with self-monitoring blood glucose monitors will hinder industry expansion to a certain extent over the forecast period.
High adoption of sedentary lifestyle along with unhealthy food habits has escalated number of people suffering from chronic conditions such as cardiovascular diseases and obesity. Majority of obese people suffer from type 2 diabetes thereby fueling industry size growth.
Growth of home healthcare sector and technological advancements in homecare SMBG devices has stimulated adoption rate. Moreover, growing demand for minimal invasive disease monitoring tools coupled with rising number of health-conscious people will stimulate growth of home healthcare self-monitoring blood glucose devices market.
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Continuous glucose monitors (CGM) product segment is anticipated to witness robust growth of 5.6% during the forecast period. These devices form an essential part of homecare diabetes monitoring as it delivers real time blood glucose readings as well as detects abnormal patterns of glycemia many folds better than conventional systems will drive business growth of CGM devices.
UK self-monitoring blood glucose devices market will witness 4.3% CAGR during the forecast period owing to technological advancements in SMBG devices and high technological adoption in the country. Growing demand for self-diabetes monitoring devices applicable to homecare setting as well as growing geriatric population base will fuel industry growth over the coming years.
Diagnostic centers and clinics end-user segment of Europe self-monitoring blood glucose devices market is forecasted to witness considerable growth owing to rising number of people suffering from abnormal blood glucose levels and growing awareness about diabetes and diabetic treatment. Increasing per capita healthcare expenditure will positively impact growth of diagnostic centers and clinics segment.
Few notable industry players operating in Europe self-monitoring blood glucose devices market are Abbott Laboratories, All Medicus, Arkray, B. Braun Melsungen AG, Bayer Healthcare, Bionime Corporation, Dexcom, F. Hoffmann-La Roche, Johnson & Johnson, LifeScan, Medtronic, Nipro Diagnostics, Nova Biomedical, Sinocare and Trividia Health. Market players are focusing on new product development to gain significant market position and broaden product as well as costumer portfolio in the self-monitoring blood glucose devices industry.
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Segments We Cover:
Europe Self-Monitoring Blood Glucose Devices Market, By Product
Self-monitoring blood glucose meters
Continuous glucose monitors
Europe Self-Monitoring Blood Glucose Devices Market, By End-user
Diagnostic centers and clinic
The above information is provided for the following countries:
- North America Self-Monitoring Blood Glucose Devices Market Size By Product (Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets), By End-User (Hospitals, Home Settings, Diagnostic Centers & Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada), End-User Potential, Competitive Market Share & Forecast, 2018 – 2024
- Asia Pacific Self-Monitoring Blood Glucose Devices Market Size By Product (Self-Monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets), By End-User (Hospitals, Home Settings, Diagnostic Centers & Clinics), Industry Analysis Report, Regional Outlook (China, Japan, India, Australia, South Korea, Malaysia, Indonesia, Thailand, Singapore, Taiwan, Philippines, Vietnam), End-User Potential, Competitive Market Share & Forecast, 2018 – 2024
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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services.