Diabetes Monitoring Devices Market Size, Share, Growth Report 2030

The global Diabetes Monitoring Devices Market Size accrued earnings worth approximately 25.75 (USD Billion) in 2019 and is predicted to gain revenue of about 31.88(USD Billion) by 2026, is set to record a CAGR of nearly 5.1 % over the period from 2020 to 2026. The report offers an assessment and analysis of the Diabetes Monitoring Devices market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

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Diabetes Monitoring Devices Market: Overview

Diabetes has become one of the major causes of death across the globe in recent years. Hence, breakthroughs are witnessed in blood glucose monitoring systems for effectively detecting diabetes in patients and this will drive market trends. Citing an instance, the use of non-invasive blood glucose monitoring tools is gaining momentum across the medical & healthcare sectors for effectively measuring diabetes in persons. Additionally, Bluetooth low energy sensor is considered an apt tool for detecting key signs of diabetes in persons. So, a personalized healthcare monitoring tool makes use of this sensor device, machine learning algorithm, and real-time data processing method in not only determining diabetes but also effectively handling chronic conditions.

Diabetes Monitoring Devices Market: Growth Dynamics

A rise in the intake of alcohol due to stress caused as a result of a hectic work schedule will prompt the expansion of diabetes monitoring devices industry over the upcoming years. Apart from this, the surge in the acceptance of wearable diabetes monitoring equipment, acceptance of insulin patches, and sensor-driven smart insulin pumps for self-diagnosis of diabetes will proliferate the market size. Furthermore, timely monitoring of unexpected or fluctuating glucose help in determining the severity of diabetes in the person, and this will encourage the expansion of the diabetes monitoring devices industry in the upcoming years. Moreover, the rise in the number of diabetics across the globe and the launching of new & low-cost diabetes monitoring devices will contribute substantially towards the market value in the upcoming years.

In addition to this, with the rise in the incidences of COVID-19 cases across the globe and the disease posing more threat to the life of diabetes patients, there is the growing use of diabetes monitoring equipment. This, in turn, will create value for the products as well as increase market profitability within the span of the next few years.

Diabetes Monitoring Devices Market Report Scope:

Europe To Dominate Overall Market Growth By 2026

The market in Europe over 2020-2026 is anticipated to witness a tremendous expansion owing to a surge in diabetics in the continent along with low costs of insulin devices resulting in high sales in the region. Apart from this, the presence of giant firms manufacturing this equipment will culminate in humungous penetration of the product in the continent, thereby resulting in value creation for the business. This, in turn, will steer the growth of the regional market over the upcoming years.

Key Market Players & Competitive Landscape

Key players profiled in the study include

• Tandem Diabetes Care
• PHC Holdings
• Hoffmann-La Roche Ltd.
• Novo Nordisk A/S
• Braun Melsungen AG
• Medtronic Corporation
• BD
• Abbott Laboratories
• Sanofi.

The global Diabetes Monitoring Devices Market is segmented as follows:

By Product

• Lancing Devices
• Testing Strips
• Blood Glucose Meters

By Distribution Channel

• Institutional Sales
• Retail Sales

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa