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Smart Glucose Meter Market: Investment & Growth Opportunity Analysis, 2019-2028

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Smart Glucose Meter Market: Investment & Growth Opportunity Analysis, 2019-2028

"Smart glucose meters are tools that are technology-oriented and can even detect hypoglycemic and hyperglycemic situations. The factors driving market growth include the increasing prevalence of diabetes, a rise in the demand for non-invasive blood glucose meters, unhealthy eating habits, and more creative product innovations and launches. The prevalence of diabetes has been increasing considerably in recent years which has spurred the demand for glucose meters. According to the World Health Organization (WHO) 2019, diabetes was the ninth leading cause of mortalities with around 1.5 million mortalities directly caused by it. Due to its ease of use and flexibility, continuous glucose monitoring has surpassed the previous invasive method in terms of popularity. New applications that monitor blood glucose levels have been deployed on mobile devices such as smartphones. Governments in developing countries are investing heavily in modernizing health-care infrastructure in their countries, which will likely positively impact sales of smart glucose meters as well. However, lack of awareness and high costs associated with the product are some of the factors hindering market growth.

Type 2 diabetes is projected to witness substantial growth due to soaring obesity problems

Type 2 diabetes is more prevalent due to unhealthy eating habits which in turn leads to obesity. Obesity is on the rise all across the globe as a result of changing lifestyles, increased alcohol consumption, physical inactivity, and unhealthy eating habits. This rise in obesity at a substantial rate is causing a sharp increase in the demand for smart glucose meters. These devices are considerably used in home care along with other end users. Technological advancements, increasing desire for minimally invasive treatment, and new product launches for home care use are supporting the growth of smart glucose meters. A wireless network connection and multi-parameter versions available in the smart glucose meters make them easier to use, thereby, driving their demand.

Asia Pacific region is a prominent region due to an increase in the diabetic population

The Asia Pacific is expected to garner significant revenue over the forecast period. Pivotal growth factors facilitating the regional market growth include a rapid increase in the number of diabetic patients, increasing health awareness, reimbursement policies, and the significant presence of industry players offering a variety of smart glucose meters. As per the WHO, diabetes prevalence has been rising more rapidly in low-and middle-income countries than in high-income countries. Almost 10% of all adults in China currently live with diabetes. Without urgent action to reduce lifestyle risk factors like unhealthy diet and lack of physical activity, diabetic patients in the country are expected to surge to 150 million by 2040 – with major health, social and economic consequences. Furthermore, the US and the UK have significant cases of obesity due to unhealthy eating habits, thereby it is anticipated to boost market demand for smart glucose meters in these countries. North America is projected to be a lucrative region due to its well-developed healthcare infrastructure coupled with the huge investments in the healthcare sector.

Market Structure and Competitive Landscape

The smart glucose meter market is characterized by the presence of a significant number of players operating in the market. Some of the prominent players include Novo Nordisk, Medtronic plc, F. Hoffmann-La Roche Ltd., Abbott Laboratories, Bayer AG, LifeScan IP Holdings LLC, Dexcom Inc., Sanofi SA, Elly Lilly and Company, and B Braun Melsungen AG among others. These companies use several tactics to reinforce their market share and acquire a competitive advantage over their competitors. Mergers & acquisitions, partnerships and collaborations, expansions, and product launches are some of the strategies followed by industry players. Some of the key developments in the smart glucose meter market include,

• In April 2022, DexCom, Inc launched the new Dexcom ONE Continuous Glucose Monitoring System, which will be available in the UK. The Dexcom ONE system is a simple-to-use real-time CGM (rt-CGM) that will be more inexpensive and accessible for diabetics in the UK and it will be evaluated for inclusion in drug tariffs in the United Kingdom.

• In December 2021, Medtronic plc announced that the US Centers for Medicare & Medicaid Services (CMS) will expand into all forms of continuous glucose monitors (CGMs), including adjunctive and non-adjunctive CGMs, and would be covered by Medicare. CGMs that work with Medtronic insulin pumps are included in this category."

Reasons to Purchase Our Research Report:

  •  Analyzing the outlook of the market with the recent trends and SWOT analysis
  •  Market dynamics scenario, along with growth opportunities of the market in the years to come
  •  Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market.
  • Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
  • Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  •  Analyst support, along with the data support in excel format.

Get the Complete Report & TOC https://www.aarkstore.com/medical-devices/1871934/global-smart-glucose-meter-market

Table of content

1. Market Introduction

1.1. Scope of Study

1.2. Problem Statement

1.3. Market Segmentation

2. Assumptions and Acronyms

3. Executive Summary

3.1. Global Market in 2022

3.2. Analyst Insights & Recommendations

3.3. Growth Opportunities and Key Strategies

3.4. Supply-side and Demand-side Trends

4. Research Methodology

5. Analysis of COVID-19 Impact and Road Ahead

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