According to FutureWise analysis the market for glucose monitoring devices in 2023 is US$ 13.81 billion, and is expected to reach US$ 26.95 billion by 2031 at a CAGR of 8.72%.
Glucose monitoring equipment, which include glucose metres, testing strips, and lancets, are used to measure the sugar level in our blood. Self-testing is possible with the device, which uses a single glucose metre and a variety of strips. These gadgets take less time to use than traditional laboratory methods for glucose testing. These gadgets are simple to use and portable, allowing the patient to take the test at their leisure at home, which is why they are so popular. It allows us to keep track of our blood glucose levels by testing quantitatively. Without puncturing the skin or causing pain or harm, these gadgets calculate blood glucose levels in diabetic patients.
The glucose monitoring equipment must follow the regular changes in blood glucose levels in diabetes individuals. Invasive and non-invasive glucose monitoring devices are available, however the Non-Invasive Blood Glucose Monitoring Devices Market is rising due to the demand for a cost-effective, compact, painless, and convenient device for patients to use. One of the major factors projected to accelerate the growth and demand for glucose monitoring devices is the significant rise in diabetes cases. Furthermore, the rapid shift in lifestyle with reduced physical activity and the rise in the elderly population, both of whom are at risk of diabetes, are expected to drive global market growth throughout the forecast period. Increased knowledge of diabetes preventative care and the launch of new products are also expected to boost market growth.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Glucose Monitoring Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Glucose Monitoring Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.