BLOOD GLUCOSE MONITORING MARKET ANALYSIS

Blood Glucose Monitoring Market, By Type (Self-monitoring blood glucose devices, Continuous glucose monitoring devices, and Flash glucose monitoring devices), By Component (Glucometer devices, Test strips, Lancets, Sensors, and Others), By End User (Hospitals, Homecare Settings, Ambulatory Care Settings, and Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Apr 2024
Code : CMI5382
Pages :168
Formats :
Excel and PDF
Industry : Medical Devices

Market Challenges – High Cost and Poor Reimbursement

Due to high cost of equipment and lack of proper reimbursement, patients are forced to spend out of their own pocket. Without insurance, the annual cost of using a continuous glucose monitor ranges from nearly US$ 1,000 to US$ 3,000. Moreover, Medicare does not cover non-therapeutic continuous glucose monitoring.

Market Opportunities – Increasing Demand for Self-Monitoring Blood Glucose (SMBG) Devices

There is an increase in demand for self-monitoring blood glucose (SMBG) devices worldwide. The SMBG is the most preferred device by the patients due to its affordability and less sophisticated usage when compared to continuous glucose monitoring (CGM). The SMBG device provides a means for the diabetic person to differentiate between fasting, pre-meal, and post-meal blood glucose levels, allowing them to monitor the immediate effects of drugs, physical activity, and food on glycemic management. This trend is expected to continue over the forecast period.