Blood Glucose Monitoring Devices Market Trends

Growth Drivers

• Increase in the Number of Patients with type-1 or Insulin-Dependent type-2 Diabetes – Glucose monitoring system helps to monitor the diabetes at an earlier stage, so that the proper treatment can be given at right time such human insulin is generally used to control blood sugar level in people dealing with type 1 diabetes or type 2 diabetes. For instance, according to a report in 2021, it was evaluated that the incidence of type-1 diabetes was 149.5 per 1000 children and the global prevalence was around 9.8% among the total population.
• Rising Ubiquity of Diabetes – For instance, in 2021, China, Mexico, India, the United States, and Brazil accounted for around 50% of the global diabetes population.
• Increase in the Number of Patients with type-1 or Insulin-Dependent type-2 Diabetes – For instance, according to a report in 2021, it was evaluated that the incidence of type-1 diabetes was 149.5 per 1000 children and the global prevalence was around 9.8% among the total population.
• Growing Investment in Diabetic Research Activities – In the United States, more than USD 860 million were invested in over 4,800 diabetes research projects over the last 70 years.
• Increasing Access to Health Care and Health Expenditures - As per the data from the World Bank, 9.83% of the global GDP was spent on health expenditures in 2019.

Challenges

• Lower Diagnosis & Treatment Rate of Diabetes – In developing and underdeveloped countries, a large proportion of people remain undiagnosed owing to a lack of awareness and associated costs. Moreover, lack of access to medical facilities and poor healthcare infrastructure are also major concerns for the lower treatment rates of diabetes in such regions. Therefore, this factor is estimated to hinder blood glucose monitoring devices market growth over the projected time frame.
• Low Reimbursement Policies for the Blood Glucose Monitoring System
• Inadequate Approach to Advanced Healthcare Infrastructure