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Glucose Monitoring System Market Report
Glucose Monitoring System Market, By Type (Sensors, Transmitters & Receivers, Integrated Insulin Pumps), End-User (Hospitals, Clinics, Home Healthcare), and Region - COVID-19 Impact Analysis and Forecast to 2026.
Impact of COVID-19 on Glucose Monitoring System Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Glucose Monitoring System market is projected to grow from USD 1.9 billion in 2020 to USD 2.7 billion by 2026 at a CAGR of around 6.1% during the forecast period.
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Glucose monitoring systems are used to checking of blood sugar levels. It helps tracks blood sugar levels throughout the day and night. It helps to make better choices about food, physical activities and taking medicines. It also helps find trends and patterns which can help the healthcare provider better manage diabetes. Based on type, glucose monitoring systems can be categorized as sensors, transmitters & receivers, and integrated insulin pumps.
Key players operating in the Glucose Monitoring System market are-
The growth of the glucose monitoring system market is primarily driven by an increasing number of people suffering from diabetes. The rising prevalence of chronic disease owing to changing lifestyles and unhealthy eating habits is expected to propel the market growth at a significant rate during the review period. Additionally, growing emphasis on research and development activities to develop advanced glucose monitoring systems is likely to create lucrative opportunities for the market players during the review period.
By end-user, the glucose monitoring system market has been bifurcated into hospitals, clinics, and home healthcare. Under these, the hospitals' segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of established healthcare infrastructure, technical expertise, and professional healthcare staff.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to expanding geriatric populace and rising incidences of diabetes coupled with the presence of key market players such as Echo Therapeutics Inc. (US) and Insulet Corporation (US). The market growth in the Asia-Pacific region is expected to be driven by the increasing number of people having diabetes due to a sedentary lifestyle in developing countries, particularly China and India.
The outbreak of the COVID-19 virus has affected the growth of the healthcare industry significantly. Stringent lockdown measures and restricted movement of people affected the product supply for a short period and thus, affected the market growth.
Here is the list of the group of customers that the glucose monitoring system market hopes to have the greatest opportunity to convert-
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The glucose monitoring system market is expected to witness an impressive growth of 6.1% CAGR in the coming years.
Medtronic plc (Ireland), Abbott Laboratories (US), DexCom, Inc. (US), Echo Therapeutics Inc. (US), Insulet Corporation (US), Johnson & Johnson (US), Senseonics Holdings, Inc. (US), F. Hoffmann-La Roche AG (Switzerland), AgaMatrix Inc. (Germany), Glysure Ltd (UK), ORSENSE LTD (Israel) and Ypsomed (Switzerland) are among the key players in the glucose monitoring system market.
The glucose monitoring system market size is expected to reach USD 2.7 billion in the foreseeable future.
The hospitals' segment is expected to register significant growth in the glucose monitoring system market in the coming years.
North America accounted for the largest share in the glucose monitoring system market in the coming years.
Glucose monitoring system distributors, Glucose monitoring system suppliers, Glucose monitoring system manufacturers, Logistics organizations, Government bodies are the target audience in the glucose monitoring system market.
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