Major players in the blood glucose meters market are Abbott, Roche, Medtronics, Ascensia, Dexcom, Johnson & Johnson, Arkray, Acon, LifeScan, and Agamatrix Inc. The global blood glucose meters market is expected to grow from $14.
New York, May 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Blood Glucose Meters Global Market Report 2022" - https://www.reportlinker.com/p06277237/?utm_source=GNW
04 billion in 2021 to $15.56 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The market is expected to grow to $22.31 billion in 2026 at a compound annual growth rate (CAGR) of 9.4%.
The blood glucose meters market consists of sales of blood glucose meters that are used to measure and display the amount of sugar (glucose) in the blood.
The main product types of blood glucose meters market are electrode type blood glucose meter and photoelectric blood glucose meter.Electrode type blood glucose meters are devices that contain electrodes to measure the current generated by an enzymatic reaction between glucose, an enzyme, and a mediator.
The various applications included are type 1 diabetes, type 2 diabetes, and gestational diabetes that are used by various end-users such as hospitals and home care.
North America was the largest region in the blood glucose meters market in 2021.Western Europe was the second-largest region in the blood glucose meters market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rising prevalence of diabetes is driving the blood glucose meters market.The changing lifestyle, increase in alcohol consumption, physical inactivity, and unhealthy eating habits are leading to an increase in obesity across the globe.
Such exponential growth in obese people is causing a stern increase in the purchase of blood glucose meters.Due to obesity, fat tissues release more fat molecules into the blood affecting insulin-responsive cells, which results in reduced insulin sensitivity, in turn, causing diabetes.
According to the study by the International Diabetes Federation (IDF), there will be a 48% increase in diabetes around the world by 2045. According to the International Diabetes Federation (IDF) in 2019, nearly 4.2 million deaths were caused by diabetes.
The blood glucose meters market growth is restricted due to a lack of awareness of diabetes.Hypo unawareness is a common term used to describe people who have diabetes, especially type 1 diabetes, it is very difficult to notice when they have low blood glucose, hypoglycemia.
Such lack of awareness of diabetes and its effects reduces the regular monitoring or check-ups relating to diabetes.For example, in 2019, 463 million adults had diabetes, but more than 1 in 4 did not know that they had the disease.
Also, in 2019, According to the International Diabetes Federation (IDF), One in two (50.1%) patients with diabetes do not recognize that they have diabetes.
FDA regulates blood glucose meters.FDA has released its guidance for the accuracy of blood glucose meters.
For blood glucose meters used in the home by patients with diabetes, FDA states that 95% of the measured blood glucose levels should be within 15% of the lab tested value and 99% of the measured values should be within 20% of the lab tested value.For the point of care blood glucose monitoring devices, 95% of the monitored values must be within the range of 12% for blood sugars more than 75mg/dl and must be within 12mg/dl for blood sugars less than 75mg/dl.
Also, 98% of the meter values must be within 15% of the range for blood sugars more than 75mg/dl and must be within 15mg/dl for blood sugars less than 75mg/dl.
In September 2021, B.Braun Melsungen AG, a German medical and pharmaceutical device company acquired Sterinova Inc for an undisclosed amount.
This acquisition of Sterinova will continue to operate as a distinct subsidiary of B.Braun Melsungen AG.
Sterinova Inc is a Canada-based company that develops, manufactures, and distributes ready-to-use sterile injectable products in syringes and premix bags.
The countries in the blood glucose meters market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.
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