2 May 2019 - Global POC Blood Glucose Monitoring Devices Market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. POC is abbreviated as point-of-care tests. POC blood glucose monitoring devices allow instant determination of glucose level in hospitalized patients and facilitate correct treatment decision.
The factors that are playing a major role in the growth of the market are the growing number of diabetic patients across the globe, the rising use of enhanced technologies, and the growing initiates to reduce the number of diabetic cases. However, the high cost of diabetes management may restrain overall market growth in the years to come. The market is segmented based on product type, end-user, and region.
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Instruments, consumables, and other product types could be explored in POC blood glucose monitoring devices market in the forecast period. The consumable sector accounted for the substantial market share of POC blood glucose monitoring devices and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the growing number of diabetic patients and blood glucose monitoring tests, and the growing demand for disposable consumables to prevent contamination.
The POC blood glucose monitoring device market could be categorized based on end-users like home care settings, hospitals and clinics, clinical diagnostic laboratories, and others that could be explored in POC blood glucose monitoring devices in the forecast period. The hospital and clinics sector accounted for the substantial market share of POC blood glucose monitoring devices and is estimated to continue its dominance in the years to come. The reason could be the increasing cases of hyperglycemia and diabetes.
Globally, North America accounted for the significant market share of POC blood glucose monitoring devices and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be the growing number of diabetic cases in the United States, the presence of developed healthcare infrastructure, the presence of key manufacturers in the region, and the rising focus on enhanced technologies. In addition, the development of non-invasive wearable POC glucose monitoring devices may boost the overall market in the years to come. The United States is a major consumer of POC blood glucose monitoring devices in this region.
Europe and the Asia Pacific are also estimated to have a positive influence on future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the highest CAGR in the forecast period. The developing countries like India and China are the major consumers of POC blood glucose monitoring devices in this region. The key players of POC blood glucose monitoring devices market are Johnson & Johnson, Abbott, F. Hoffmann-La Roche, ARKRAY, Danaher, and Ascensia Diabetes Care. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.
Market Segment:
The following manufacturers are covered in this report, with sales, revenue, market share for each company:
• Abbott
• BD Medical
• Medtronic
• Sanofi
• Roche Diagnostics
• LifeScan
• Alere
• Animas Technologies
• Bayer Healthcare
• Cercacor
• Pendragon Medical
• OrSense
• Nova Biomedical
• Dexcom
• Terumo
• Tosoh Bioscience
Market size by Product
• Wearable Blood Glucose Monitoring Devices
• Non-wearable Blood Glucose Monitoring Devices
• Market size by End User
• Hospitals
• Clinics
• Home Care Settings
• Other
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