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Blood Glucose Device Market will reach to USD 19 Billion by the year 2024, due to rising income level, growing diabetes population and innovative marketing campaign of companies. US, UK, Germany, Spain, Italy, Russia & China are the dominating countries in the global blood glucose device market. It is anticipated that global SMBG users will grow to 19 percent by 2024, from the 2017 SMBG users.
China is the Leading Country in the Diabetes Mellitus Population
China is the leading countries in the world diabetes mellitus population. Diabetes prevalence in china is growing dramatically from 1 percent in 1980 to over 10 percent in 2017. Growing income and Changing lifestyle is the major reasons for the growth of diabetic mellitus population in China. It is projected that China Diabetic Population is likely to cross over 125 Million by 2024.
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Reimbursement is driving force for European & North America Blood Glucose Device Market
Almost all countries in the European & North American regions have some form of diabetes reimbursement policy in their diabetes prevention and control programs. Diabetes patients can get this reimbursement on purchase of medicine, glucose meter, test strips or lancets, depending on the countries reimbursement policy. It helps to drive Blood Glucose Device market as more people can get access to Self Monitoring Blood Glucose (SMBG) devices through this program and take the preventive measurements.
Local Players are giving tough competition to Multi-national Companies
Companies market share studied in the report are as follows LifeScan Inc., Roche Diagnostic, Abbott Laboratories & Bayer HealthCare.
“Blood Glucose Device Market, Users Global Forecast, SMBG Components (Test Strips, Lancet, Meter) of 15 Countries (USA, Europe, BRIC, Australia, Kuwait) & Companies (Roche Diagnostic, LifeScan Inc. Bayer HealthCare, Abbott Laboratories)” analyzes the worldwide market for, blood glucose test strips market, blood glucose lancet market and blood glucose meter market. This is the 3rd publication on Blood Glucose Device Market by Renub Research. This report studies the separate comprehensive analytics for the 15 countries: United States, European Countries (United Kingdom, Germany, Spain, Italy, Netherlands, Norway, Sweden and Switzerland), BRIC countries (Brazil, Russia, India, China), Australia and Kuwait. Annual estimates and forecast are provided for the period of 2018 through 2024. An eight year historic analysis is also provided for these markets. This 287 page report with 256 Figures and 12 Tables provides a complete analysis of top 15 countries of global self-monitoring blood glucose (SMBG) market.