Self-Monitoring Blood Glucose Devices Market 2021 Share, Size,Growth Global Leading Players, Forthcoming Developments and Future Investments by Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Self-Monitoring Blood Glucose (SMBG) Devices Marke for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Self-Monitoring Blood Glucose (SMBG) Devices Marke products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Self-Monitoring Blood Glucose (SMBG) Devices Market is estimated to reach $20 Billion by 2024; growing at a CAGR of 6.2% from 2016 to 2024. Self-Monitoring Blood Glucose (SMBG) device is a modern tool used for the management of diabetes mellitus. It enables testing of the concentration of glucose in the blood by smearing the blood on chemically active disposable test-strip. According to WHO, it was estimated that around 246 million adults were suffering from diabetes in 2007, and the number is expected to reach 380 million by 2025. SMBG is highly essential for people with diabetes in order to control the level of glycemic and prevent hypoglycemia. However, the frequency of monitoring the blood glucose level mar vary from person to person.

The global self-monitoring blood glucose devices is driven by factors such as rapid increase in the number of diabetic patients, declining price of these devices, reimbursements by insurance companies, and rising patient’s awareness. Though, tough competition from private label brands, and lack of awareness among patients would restrain the growth of the market. Additionally, new marketing strategies, and technological advancements could offer growth opportunities in the coming years.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The self-monitoring blood glucose devices market is segmented as type, and geography. Type is further bifurcated as blood glucose test strips, blood glucose meter, blood glucose lancet, and others.

Based on geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada and Mexico whereas Europe consist of UK, Russia, Germany, France, Italy, Spain, and others. Asia-Pacific is segmented into India, China, Japan, and others while RoW is bifurcated into South America, Middle East and Africa.

The key market players include Arkray, Inc., B. Braun Melsungen AG, Bionime Corporation, F. Hoffmann-La Roche Ltd, Medtronic Public Limited, Bayer AG, Abbott Laboratories, Life Scan Inc.(J&J), Trividia Health Inc., and Dexcom Inc., among others.

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The key takeaways from the report:
The report will provide detailed analysis of Global Self-Monitoring Blood Glucose (SMBG) Devices Market with respect to major segments such as type, and geography. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Global Self-Monitoring Blood Glucose (SMBG) Devices Market has been included in the report. Profile of the key players in the Global Self-Monitoring Blood Glucose (SMBG) Devices Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Self-Monitoring Blood Glucose (SMBG) Devices Market:
Type Segments
Blood Glucose Test Strips
Blood Glucose Meter
Blood Glucose Lancet
Other Types
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Russia
Germany
France
Italy
Spain
Others
Asia Pacific
India
China
Japan
Others
RoW
South America
Middle East
Africa

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Christophe Rude
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