Portable Glucose Monitor Market Size, Share, Opportunities, COVID-19 Impact, And Trend By Type (Wearable, Non-Wearable), By End-User (Hospitals, Home Care), And By Geography - Forecasts From 2021 To 2026
- Published : Oct 2021
- Report Code : KSI061611219
- Pages : 112
The global portable glucose monitor market is estimated to be worth US$1.671 billion in 2019.
A glucose monitor is a small, portable machine that is used to measure the amount of glucose present in the blood. People with diabetes often use a blood glucose meter to help them manage their condition. According to the International Diabetes Federation, 2019, approximately 463 million adults (20-79 years) were living with diabetes, the number is expected to rise to 700 million by 2045. The changing lifestyle patterns have led to an increase in the number of diabetic patients worldwide which will fuel the growth of this market over the forecast period. In addition, due to the unhealthy eating habits of people, worldwide the number of people suffering from obesity has been on a surge. According to the CDC, the obesity prevalence in the United States was 42.4% in the year 2017-2018. The increasing incidence of obesity will further spike the number of diabetic patients, subsequently increasing the demand for portable glucose monitors in the market. Also, the portable glucose monitors make it easier to keep a check on blood glucose levels which is vital for proper diagnosis and treatment of diabetes. The monitor is a near-patient device that allows the immediate detection of glucose levels in the body of a patient and facilitates rapid treatment solutions if the need arises. Furthermore, the continuous innovations are increasing the portability, efficiency, and reliability of these monitors which is anticipated to increase their demand over the projected period.
By type, the wearable segment is estimated to hold a dominant market share owing to the portability and convenience associated with it. By end-user, the home-care segment is projected to grow at the highest CAGR due to the increasing incidence of diabetes in people, globally. Geographically, North America is estimated to hold a notable market share owing to the increasing obese population, the early acquisition of these solutions, and the presence of key players in the region. Asia Pacific region is expected to grow at a high CAGR due to the increase in the diabetic population and the adoption of these solutions.
Growth Factors.
- Increasing diabetic patients.
The constant surge in the number of diabetic patients worldwide is expected to contribute majorly to the market growth of the portable glucose monitor market during the next few years as the portable glucose monitor helps to monitor the glucose levels in the blood of diabetic patients. According to the International Diabetes Federation, 1 in 5 people who are above 65 years old has diabetes. Also, more than 1.1 million children and adolescents are living with type 1 diabetes, worldwide. The rise in the number of diabetic patients will increase the demand and adoption of portable glucose monitors in the market in the long run.
Restraints.
- Unfavourable reimbursement policies.
The major restraint for the portable glucose monitor market is the unfavourable reimbursement policies associated with it. Many medical claim providers and medical insurance companies do not reimburse the diagnosis and treatment of diabetes, which makes patients apprehensive about going forward with the treatment as it is a costly affair. The unfavourable reimbursement policies may hamper the market growth as if the patients are unable to claim the expenses, they will try to avoid the diagnosis and treatment which in turn will restrict the market growth during the forecast period.
COVID–19 Impact On Portable Glucose Monitor Market
The Covid-19 pandemic moderately impacted the global portable glucose monitor market as due to the nationwide lockdown restrictions, many patients deferred their ongoing treatments and postponed their diagnosis to avoid public places which hampered the market growth. However, the diabetic patients who regularly use portable glucose monitors as a part of their treatment balanced the market growth during the novel pandemic.
Competitive Insights.
The market leaders for the Global Portable Glucose Monitor Market are Abbott Laboratories, Bayer AG, Johnson & Johnson, GlySens Incorporated, Senseonics Holdings, Insulet Corporation, Dexcom, Inc., and Medtronic, PLC. The key players in the market implement growth strategies such as product launches, mergers, acquisitions, etc. to gain a competitive advantage over their competitors. For Instance, in June 2018, Johnson & Johnson, a global pharmaceutical company, acquired LifeScan, Inc., a diagnostic system manufacturer, for its blood glucose monitoring business, for approximately $2.1billion.
Global Portable Glucose Monitor Market Scope:
Report Metric | Details |
Market size value in 2019 | US$1.671 billion |
Growth Rate | CAGR during the forecast period |
Base year | 2019 |
Forecast period | 2021–2026 |
Forecast Unit (Value) | USD Billion |
Segments covered | Type, End-User, And Geography |
Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
Companies covered | Abbott Laboratories, Bayer AG, Johnson & Johnson, GlySens Incorporated, Senseonics Holdings, Insulet Corporation, Dexcom, Inc., Medtronic, PLC |
Customization scope | Free report customization with purchase |
Segmentation:
- By Type
- Wearable
- Non-Wearable
- By End-User
- Hospitals
- Home Care
- By Geography
- North America
- USA
- Canadá
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- Indonesia
- Taiwan
- Thailand
- Others
- North America
Frequently Asked Questions (FAQs)
Q1. What is the size of the global portable glucose monitor market?
A1. The global portable glucose monitor market is estimated to be worth US$1.671 billion in 2019.
Q2. Who are the major players in the portable glucose monitor market?
A2. The market leaders for the portable glucose monitor market are Abbott Laboratories, Bayer AG, Johnson & Johnson, GlySens Incorporated, Senseonics Holdings, Insulet Corporation, Dexcom, Inc., and Medtronic, PLC.
Q3. How is the global portable glucose monitor market segmented?
A3. The global portable glucose monitor market has been segmented by type, end-user, and geography.
Q4. What factors are anticipated to drive the portable glucose monitor market growth?
A4. The changing lifestyle patterns have led to an increase in the number of diabetic patients worldwide which will fuel the growth of the portable glucose monitor market over the forecast period.
Q5. Which region holds the largest market share in the portable glucose monitor market?
A5. Geographically, North America is estimated to hold a notable share in the portable glucose monitor market owing to the increasing obese population, the early acquisition of these solutions, and the presence of key players in the region.
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Portable Glucose Monitor Market Analysis, By Type
5.1. Introduction
5.2. Wearable
5.3. Non-Wearable
6. Global Portable Glucose Monitor Market Analysis, By End-User
6.1. Introduction
6.2. Hospitals
6.3. Home Care
7. Global Portable Glucose Monitor Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.2.4. Others
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. United Kingdom
7.4.2. Germany
7.4.3. France
7.4.4. Italy
7.4.5. Spain
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. Israel
7.5.3. Others
7.6. Asia Pacific
7.6.1. Japan
7.6.2. China
7.6.3. India
7.6.4. Indonesia
7.6.5. Taiwan
7.6.6. Thailand
7.6.7. Others
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
9.1. Abbott Laboratories
9.2. Bayer AG
9.3. Johnson & Johnson
9.4. GlySens Incorporated
9.5. Senseonics Holdings
9.6. Insulet Corporation
9.7. Dexcom, Inc.
9.8. Medtronic, PLC
Abbott Laboratories
Bayer AG
Johnson & Johnson
GlySens Incorporated
Insulet Corporation
Dexcom, Inc.
Medtronic, PLC
Related Reports
Report Name | Published Month | Get Sample PDF |
---|---|---|
Diabetes Care Market Size & Share: Industry Report, 2018 - 2023 | Jul 2021 | |
Sensor Patch Market Size, Share & Trends: Report, 2018-2023 | Feb 2023 | |
Continuous Glucose Monitoring (CGM) Market Size: Report, 2023-2028 | Jul 2023 | |
Blood Glucose Test Strips Market Size & Trends: Report, 2024-2029 | Aug 2024 | |
Global Insulin Pens Market Size, Share, Trends & Analysis 2019 - 2024 | Mar 2020 |