World Glucose Meter Market Size Growth Studies Show Historic Developments and Forecasts
Glucose meter market has made an important place in global healthcare and personal care industry since a few years. With more and more people being detected with Diabetes (type I or II) every year globally, glucose meter market with its innovations is here to stay to help more and more patients in the future.
According to a recent report 9.4% of US population has diabetes, while WHO shows more than US$ 827 billion as direct cost of diabetes to the world, each year. Key drivers of the glucose meter market are obviously the increasing number of Diabetes patients across the globe and increase in per capita spending on diabetes. Use of glucose meters help determine the approximate concentration of blood glucose and help reduce the risk of related complications of type 1 and Type 2 diabetes patients. Publicly available reports dedicated to diabetes say worldwide spending on this disease has increased over three times in a decade from 2003 to 2013, which gives a boost to glucose meter market.
Glucose meter market has been revising its technology keeping in mind the ease of usability by diabetes patients. People no longer use the traditional glucose testing strips. Patients today can independently measure their blood glucose levels on a daily basis. With the advancement of the glucose meter market, glucose meters with sensors have been introduced. Continuous glucose monitoring (CGM) can provide real-time measurements which allow to track the trends and patterns of blood glucose level throughout the day. These sensor based blood glucose meters not only give timely updates but also help the patients control the glucose level when they reach the critical point by means of an alarm installed in it. Continuous glucose meters and flash glucose meter market products allow the patients to test the glucose levels without the hassle of traditional finger pricks.
The best part of the new technology introduced in these glucose meters is that these meters are now connected and can share the information to the care providers at different healthcare centers in order to get personalized advise on the disease condition and further treatment. Giving a boost to glucose meter market, a Frost & Sullivan report records diabetes monitoring market at $10.71 billion, with forecasts to grow at a compound annual growth rate of 5.4% to reach $14.68 billion in 2022.
Innovations in the glucose meter market as well as increasing number of diabetes patients wanting personalized and hassle free help with their disease are helping the industry grow steadily. Additionally, new semi-invasive and noninvasive approaches, various channels to provide data analytics and care delivery support etc. are some of the very strong factors that tell us that glucose meter market is here to flourish as it is supporting a large population of people across the globe who are suffering from type 1 od type 2 diabetes.
eMarketOrg’s team has accumulated some of the best research reports which will help the decision makers of the glucose meter industry get an idea of the current and future market scenario:
Global Glucose Meter Market Report 2017 Forecast To 2022 @ https://emarketorg.com/pro/global-glucose-meter-market-report-2017-forecast-to-2022/
Global Wireless Blood Glucose Meter Market Research Report 2017 @ https://emarketorg.com/pro/global-wireless-blood-glucose-meter-market-research-report-2017/
Global Blood Glucose Meters Market Research Report 2017 @ https://emarketorg.com/pro/global-blood-glucose-meters-market-research-report-2017/