The growth of this market is majorly driven by factors such as rising prevalence of diabetic population, and increasing product launches. Based on application, the market is categorized into type 1 diabetes, type 2 diabetes, and gestational diabetes.The type 2 diabetes segment is estimated to command the largest share of the blood glucose monitoring systems market.
The global blood glucose monitoring system market was valued at USD 8.10 Billion in 2016 and is projected to reach USD 10.58 Billion by 2022, at a CAGR of 4.8% during the forecast period
Blood Glucose Monitoring System Market by Product (Self-Monitoring, Continuous Glucose Monitoring Devices), Testing Site (Fingertip), Patient Care Setting (Hospital, Homecare), Application (Type 1, Type 2, Gestational Diabetes) – Global Forecast
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Global Blood Glucose Monitoring System Market is Segmented on:
2. Testing Site
3. Patient Care Setting
The market is segmented on the basis of product, testing site, patient care setting, application, and region. Based on product, the market is segmented into self-monitoring blood glucose systems and continuous glucose monitoring systems. The continuous glucose monitoring system segment is expected to grow at the highest CAGR during the forecast period. The high growth in the continuous glucose monitoring system segment can be primarily attributed to the rising adoption of minimally invasive procedures.
On the basis of testing site, the global market is segmented into fingertip testing and alternate site testing. The fingertip testing segment is expected to account for the largest of the global market and is expected to register the highest CAGR. This can be primarily attributed to the accuracy and high reliability of fingertip testing.
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The geographical regions mapped in the report are:
1. North America
3. Asia-Pacific (APAC)
4. Latin America
5. Middle East and Africa (MEA)
Geographical Growth Analysis:
Geographic segments in this report include North America, Europe, Asia Pacific, and RoW. Of these, the North American segment is expected to account for the largest share of the market in 2017. The large share of this region can primarily be attributed to the favorable reimbursements, awareness programs, rising FDA approvals in the US, and rising prevalence of diabetes in the US and Canada.
Some key players mentioned in the research report are:
Medtronic (Ireland), Galil Medical (US), and CooperSurgical (US). These leading players offer an expansive product portfolio for cryoablation and have a wide geographic presence. The other players in this market include Impact Cryotherapy (US), Zimmer MedizinSysteme (Germany), Metrum Cryoflex (Poland), Brymill Cryogenic Systems (UK), Erbe Elektromedizin (Germany), CryoConcepts (US), US Cryotherapy (US), Professional Products (US), and Kriosystem Life (Poland).