Self-monitoring Blood Glucose Market Booming With New Growth Opportunities
The global self-monitoring blood glucose market is anticipated to gain momentum due to the rising incidences of diabetes among the population all over the world. Self-monitoring being an important part of control therapy for diabetes. This is referred to people diagnosed with diabetes so that they can achieve particular glycemic control levels and also be able to prevent themselves from hypoglycemia. Self-monitoring also improves hypoglycemia recognition as an individual and enables them to authorize the harmful effects of lifestyle and pharmaceutical intervention as per glycemic control is concerned.
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There are different variations in self-monitoring blood glucose market on the basis of distribution channel, product type, and geography. On the basis of distribution channel, the market is segmented into hospital pharmacies, online retailers, mail order pharmacies, and retail pharmacies.
As per categorization by product type, the global self-monitoring blood glucose market is divided into test strips, lancets, and glucose meters.
The report presented here is a complete evaluation of the global self-monitoring blood glucose market with large emphasis on market dynamics. It also includes market drivers, restraints, and trends and opportunities. It also offer geographical and other segmentation studies of the market.
There are a number of factors boosting the growth of the self-monitoring blood glucose market in the future years to come. One among them being the rising issue of diabetic patients all around the world and their continuous need to keep check on their blood sugar and glucose levels in order to keep track of their health.
Apart from that, both non-government and government organizations are taking initiatives in most parts of the world to create awareness regarding the surge in diabetic epidemic and how to take preventive measures accordingly. This is accelerating the demand for self-monitoring blood glucose in the global market and thus, in future it is expected to generate more revenue to the overall market.
Another important factor fueling the global self-monitoring blood glucose market is the launch of new products by manufacturers as per the diabetes medicine supply is concerned. In the year 2015, the United States Food and Drug Administration (FDA) allowed a few companies like DarioHealth Corp., to manufacture blood glucose monitoring system that also includes devices like glucometer. Along with that the Dario mobile phone application was also granted permission to be installed in Apple iOS 6.1 phones and those with higher platforms so that it becomes easier to keep check of one’s own health balances. This, being a major factor is anticipated to accelerate the growth of the self-monitoring blood glucose market in the future years.
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The global self-monitoring blood glucose market is categorized into the regions of Midle East and Africa, Latin America, Asia Pacific, Europe, and North America. The market in North America is seen to be dominating the world because of active funding for the creation and development of innovative products so as to treat diabetes and conditions that follow with that. However, the Asia Pacific market is likely to witness a rapid growth due to the continuously increasing number of people suffering from diabetes in the region in the future years.
The global self-monitoring blood glucose market includes top players such as Ascensia Diabetes Care Holdings AG, Abbott Laboratories, B. Braun Melsungen AG, LifeScan, Inc. (Johnson & Johnson), and Hoffmann-La Roche Ltd.
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