The global wireless blood glucose meter market is anticipated to attain impressive revenue by 2022, according to a report available on Radiant Insights, Inc. High prevalence of diabetes and adoption of sugar level surveillance systems are the key market drivers. Diabetes is one of the leading causes of deaths around the world. Fast-paced lifestyles imbued with poor dietary habits can cause diabetes. Rapidly growing elderly population and prevalence of diabetes is anticipated to impel blood glucose meter sales in the forthcoming years.
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Blood glucose meters can calculate glucose levels in blood samples. These devices can help diabetic patients in keeping a check on glycemic levels. These devices are gaining prominence over blood lancets or strips due to technological advancements. Wireless blood glucose meters can transfer patient data through the Internet for the required consultation. It can also save it in a database to keep track of hB1ac (glycated hemoglobin).
Rising awareness and development of self-monitoring blood glucose meters can boost demand in the years to come. Developing economies have a huge market potential on account of a large patient pool and low market penetration of the existing devices. Carematix Wellness Systems recently launched its OneTouch Ultra device. It can track blood sugar readings remotely and store all the necessary data regarding food, medication, and stress levels. This allows consumers to track their glucose levels on a daily basis.
The US Food & Drug Administration (FDA) has given 510 (k) clearance to the OneTouch Verio Flex glucometer by Johnson & Johnson (J&J) for its integration with BlueStar diabetes management platform by WellDoc. This product can reflect blood sugar readings through a range of color indicators. It can be installed on the mobile devices. The device can also send guided plans according to the readings.
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The worldwide wireless blood glucose meter market is segmented on the basis of types, applications, and regions. By types, the market is bifurcated into manual and automatic blood glucose meters. The latter enjoys greater popularity due to its user-friendly system. Major market applications comprise physical examination centers, hospitals, and clinics. Hospitals are expected to garner major market share over the forecast period. Assistance in detecting diabetes at an early stage can propel the demand. Data samples obtained from these tests can act as a precursor for better drugs and antibiotics.
Geographically, the global wireless blood glucose meter market is divided into Southeast Asia, Europe, United States, India, China, and Japan. United States is expected to lead the global market in the years to come. Availability of the latest technology, increased healthcare per capita, supportive reimbursement policies, and huge patient pool are the key regional growth drivers. China on the other hand, is expected to exhibit a high CAGR, followed by India and Japan.
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Key market players include Abbott Diabetes Care, F. Hoffmann-La Roche AG, Nova Biomedical, ForaCare Suisse AG, and General Life Biotechnology Co., Ltd. Product launches and innovations are some of the chief business expansion strategies undertaken by most companies to sustain market hold. For instance, Roche’s Accu-Chek Guide blood glucose monitoring system (BGMS) offers a vial to take a blood sample. It also has wireless connectivity to save data on the connected mobile application.
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Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.
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