Blood Glucose Meters Global Market To Reach Value Of About $5 Billion In 2025
13 Sep, 2021
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.
Global Blood Glucose Meters Market Size And Drivers:
The global blood glucose meters market is expected to grow from $2.92 billion in 2020 to $3.99 billion in 2021 at a compound annual growth rate (CAGR) of 36.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.96 billion in 2025 at a CAGR of 5.6%. Rising prevalence of diabetes is driving the blood glucose meters market.
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Trends In The Global Blood Glucose Meters Market
FDA regulates the blood glucose meters. FDA has released its guidance for the accuracy of blood glucose meters. For blood glucose meters used in 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 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.
Global Blood Glucose Meters Market Segments:
The global blood glucose meters market is further segmented –
By Product Type: Electrode Type Blood Glucose Meter, Photoelectric Blood Glucose Meter
By End User: Hospitals, Home Care
By Application: Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes
By Geography: The Global Blood Glucose Meters Market Is Segmented Into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East And Africa.
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https://www.thebusinessresearchcompany.com/report/blood-glucose-meters-global-market-reportBlood Glucose Meters Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides blood glucose meters market overviews, analyzes and forecasts market size and growth for the global blood glucose meters market, blood glucose meters market share, blood glucose meters market players, blood glucose meters market segments and geographies, blood glucose meters market’s leading competitors’ revenues, profiles and market shares. The blood glucose meters market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.