Jan 21, 2021 Reports and Data Releases
The demand for blood glucose meters is driven by the sale of blood meters that calculate and display the amount of blood glucose levels. The main driver of demand in the market is the rising prevalence of diabetes.
According to a 2017 report by the International Diabetes Federation, diabetes is expected to increase by 48% by 2045. In 2016, the WHO announced that around 1.6 million deaths were caused by diabetes. Lifestyle changes, increasing alcohol consumption, unhealthy food intake, and physical inactivity are some of the factors responsible for the market expansion.
Diabetes is one of the most important chronic diseases. Hence, glucose meters are used to monitor and maintain the level of glucose in the blood. Blood glucose meters come in a variety of sizes, from basic models to advanced meters with different options and features, price, length and even trial time.
The increasing number of diabetics and the accuracy and reliability of blood glucose meters are the main driving forces behind the market for blood glucose meters. The early detection of hypoglycemia and hyperglycemia as well as technological advances are increasing the market demand.
The invasive blood monitoring technique is less painful compared to the traditional invasive method. Because of this, there has been tremendous demand and introduction of new non-invasive glucose meters. In 2018, DiaMonTech GmbH introduced a shoe-size device for diagnosing blood sugar levels.
The high cost of some advanced glucose meters are the only factor that can affect the overall growth of the glucose meter market.
North America dominated the market in 2018 for glucose meters and is expected to maintain its dominance for years to come. The increasing diabetic population and the introduction of innovative and novel blood glucose meters should drive the market in this region along with the increasing number of diabetic patients.
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