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The Blood Glucose Monitoring System Market was at US$ 15.94 Bn in 2021 and is growing to approx US$ 31.34 Bn by 2030, with a CAGR growth of 10.1% | 2022 - 2030.

SANDY, UTAH, UNITED STATES, September 29, 2022 /EINPresswire.com/ -- According to the study, The Global Blood Glucose Monitoring System Market was estimated at USD 15.94 Billion in 2021 and is anticipated to reach around USD 31.34 Billion by 2030, growing at a CAGR of roughly 10.1% between 2022 and 2030.

Blood Glucose Monitoring System Market: Overview

The rapidly increasing number of patients who have diabetes has increased the demand for efficient blood glucose monitoring systems in the market. The key market players make huge investments to carry out rapid research and development programs which will help them to introduce advanced machines and monitoring systems for diabetes. A continuous monitoring system helps to constantly evaluate the patient’s condition and can be reevaluated to select the suitable line of treatment and diet.

Blood Glucose Monitoring System Market: Growth Drivers

The huge number of patients available in the market due to the increasing prevalence of cholesterol and obesity has helped the market record considerable revenue, and he’s foreseen to continue similarly during the forecast period as well. The increasing demand for advanced technologies and efficient monitoring systems to manage patients’ blood glucose levels has helped the blood glucose monitoring system market record considerable revenue.

Key market players are investing in extensive research and development programs to introduce cheaper options for monitoring blood glucose. Faulty lifestyle practices followed by the people and increasing stress resulting from busy lifestyle practices and improper work-life balance have greatly boosted the market size. These reasons emerge as the driving forces for the blood glucose monitoring system market during the forecast period.

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Key Insights:

A) As per the analysis shared by our research analyst, the Blood Glucose Monitoring System market is estimated to grow annually at a CAGR of around 10% over the forecast period (2022-2030).
B) In terms of revenue, the Blood Glucose Monitoring System market size was valued at around USD 15.94 Billion in 2021 and is projected to reach USD 31.34 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The high cost associated with using advanced equipment and medical facilities has proved to be a restraining factor for the market’s growth. Lack of awareness and slow penetration of modern devices and technologies into the market has proven to be major obstacles to the market’s growth.
D) Key market players are introducing advanced medical equipment for managing blood glucose levels to boost the demanding supply chain. Initiatives taken by the government to support the healthcare sector by providing advanced facilities to the people have also helped the market put a quarter of considerable revenue during the forecast period.
E) The high cost associated with the use of advanced equipment, which helped monitor blood glucose, has greatly hindered the glowing growth of the market to a great extent. The availability of cheaper options in the market produced by local players has hindered the growth of quality products.

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Regional Landscape

The region of North America has emerged as the largest market for blood glucose monitoring systems owing to the huge number of people suffering from blood glucose disorders and diabetes due to the rapid changes in lifestyle due to the increasing stress and workload on the people.

A huge number of people belonging to the geriatric population reside in this region who suffer from diabetes as a common disorder and need constant monitoring to administer the required dosage of medicines and insulin. It becomes impossible for these people to visit the healthcare sector, so a portable blood glucose monitoring system becomes an essential factor for them.

The people belonging to the European nations also have a huge tendency to suffer from diabetes owing to faulty lifestyle practices and increasing amounts of fast food among youngsters, which behave as a major factor for the causation of diabetes and hence the requirement for blood glucose monitoring systems has increased. The advanced healthcare facilities the government provides have also boosted the need for constant blood glucose monitoring systems in the market.

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Key Players

Abbott Laboratories
Medtronic plc
Hoffmann-La Roche Ltd.
Ascensia Diabetes Care
Dexcom, Inc.
Sanofi
Novo Nordisk
Insulet Corporation
Ypsomed Holdings
Glysens Incorporated

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The Blood Glucose Monitoring System Market is segmented as follows:

By Device

Self monitoring blood glucose system
Continuous glucose monitoring system

By Modality

Non wearable
Wearable

By Type

Invasive
Non invasive

By Patient Type

Type 1 diabetes
Type 2 diabetes

By Distribution Channel

Retail sales
Institutional sales

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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