Self-Monitoring Blood Glucose Devices Market Outlook for Europe 2019-2024
Europe self-monitoring blood glucose (SMBG) devices market size was valued at USD 4.7 billion in 2017 and is expected to witness growth of more than 4.9% CAGR from 2018 to 2024
India – October 14, 2019 /MarketersMedia/ —
According to the Graphical Research new growth forecast report titled “Europe Self-Monitoring Blood Glucose Devices Market analysis based on Product, End-User, Industry Analysis Report, Regional Outlook, End-User Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 6.5 billion by 2024. Increasing number of baby boomers and rising number of people diabetic cases will act as primary driver for growth of Europe self-monitoring blood glucose devices market over the forecast timeframe.
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High adoption of sedentary lifestyle along with unhealthy food habits has escalated number of people suffering from chronic conditions such as cardiovascular diseases and obesity. Majority of obese people suffer from type 2 diabetes thereby fueling industry size growth.
Growth of home healthcare sector and technological advancements in homecare SMBG devices has stimulated adoption rate. Moreover, growing demand for minimal invasive disease monitoring tools coupled with rising number of health-conscious people will stimulate growth of home healthcare self-monitoring blood glucose devices market.
Presence of associations such as Primary Care Diabetes Society creating awareness about the target disease to promote adoption of diabetes monitoring tools will positively impact industry growth over the coming years. However, stringent regulations pertaining to development of SMBG devices and high cost associated with self-monitoring blood glucose monitors will hinder industry expansion to a certain extent over the forecast period.
Continuous glucose monitors (CGM) product segment is anticipated to witness robust growth of 5.6% during the forecast period. These devices form an essential part of homecare diabetes monitoring as it delivers real time blood glucose readings as well as detects abnormal patterns of glycemia many folds better than conventional systems will drive business growth of CGM devices.
Diagnostic centers and clinics end-user segment of Europe self-monitoring blood glucose devices market is forecasted to witness considerable growth owing to rising number of people suffering from abnormal blood glucose levels and growing awareness about diabetes and diabetic treatment. Increasing per capita healthcare expenditure will positively impact growth of diagnostic centers and clinics segment.
UK self-monitoring blood glucose devices market will witness 4.3% CAGR during the forecast period owing to technological advancements in SMBG devices and high technological adoption in the country. Growing demand for self-diabetes monitoring devices applicable to homecare setting as well as growing geriatric population base will fuel industry growth over the coming years.
Few notable industry players operating in Europe self-monitoring blood glucose devices market are Abbott Laboratories, All Medicus, Arkray, B. Braun Melsungen AG, Bayer Healthcare, Bionime Corporation, Dexcom, F. Hoffmann-La Roche, Johnson & Johnson, LifeScan, Medtronic, Nipro Diagnostics, Nova Biomedical, Sinocare and Trividia Health. Market players are focusing on new product development to gain significant market position and broaden product as well as costumer portfolio in the self-monitoring blood glucose devices industry.
Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1020/europe-self-monitoring-blood-glucose-devices-market
Segments we Cover:
Europe Self-Monitoring Blood Glucose Devices Market, By Product
Self-monitoring blood glucose meters
Continuous glucose monitors
Testing strips
Lancets
Europe Self-Monitoring Blood Glucose Devices Market, By End-user
Hospitals
Home settings
Diagnostic centers and clinics
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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Organization: Graphical Research
Website: https://www.graphicalresearch.com/industry-insights/1020/europe-self-monitoring-blood-glucose-devices-market
Source: MarketersMedia
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