Global BGM Device Market 2014-2018 is the latest addition to Sandlerresearch.org industry research reports collection.
Diabetes is a disease that occurs when the body is unable to produce insulin, or when the glucose rises above the required levels. Insulin, a hormone produced by the pancreas, is used to process glucose, which acts as a fuel for the tissues. BGM is the process of testing the concentration of insulin or glucose in the blood. A blood glucose meter is a small electronic device used to measure and display the blood glucose level. To measure the level of blood glucose, a small drop of blood is taken by pricking a finger with an instrument called a lancet. The blood is then placed on a disposable blood glucose test strip and this is inserted into a blood glucose meter.
Analysts forecast the Global Blood Glucose Monitoring Device market to grow at a CAGR of 5.26 percent over the period 2013-2018.
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The report recognizes the following companies as the key players in the Global Blood Glucose Monitoring Device Market: Abbott Laboratories Ltd., Arkray Inc., Bayer HealthCare AG, F. Hoffmann-La Roche Ltd. and LifeScan Inc.
Other Prominent Vendors in the market are: B. Braun Melsungen, Bionime, DexCom, GlySens, Medtronic, Nipro Diagnostics, Nova Biomedical and Terumo Europe.
One key trend emerging in the market is the change in the preference of patients to take advantage of home healthcare rather than going to hospitals. The move toward proactive monitoring rather than waiting for treatment is opening up new opportunities for the Global BGM Device market.
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Covered in this Report
The Global Blood Glucose Monitoring market can be divided into three segments: Blood Glucose Strips, Blood Glucose Meters, and Lancets. This report covers the present scenario and the growth prospects of the Global Blood Glucose Monitoring Device market for the period 2013-2018. To calculate the market size, the report considers the revenue generated from the sales of the three segments as mentioned below.
- Blood Glucose Strips
- Blood Glucose Meters
Global Blood Glucose Monitoring Device Market 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Blood Glucose Monitoring Device market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the main drivers in this market is the increasing incidence of diabetic patients. The increase in the prevalence of diabetes and the high market potential of diabetes products has encouraged various companies to explore the Global BGM Device market.
Further, the report states that one of the main challenges in the market is the high cost of BGM devices. Despite the numerous benefits, the high cost of BGM devices hinders their acceptability among patients. Many patients do not have the required funds to invest in a device.