Tag: Glucose Monitoring Market

Diabetes is a major healthcare challenge across the world today as its incidence grows considerably over the world owing to poor lifestyle choices such as sedentary living, poor and unbalanced diets and excessive stress. One of the most notable factors driving people to such choices is disintegration of joint family set-ups and emergence of dual income families in nuclear set ups. As both partners come home after a long day of work, willingness to prepare food with fresh ingredients is low. As a result eating out is normalized and fast food joints are seeing growth. Hectic work lives are also often marked with high stress situations and that is a notable contributing factor.

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This is leading to higher demand in global continuous glucose monitoring market over the next few years. As per TMRR, compound annual growth rate recorded by the market will be steady and robust, taking the worth of the market notably higher. New opportunities are being created in the market owing to such projections.

Additionally, it is worth noting here that due to the presence of COVID-19 across the globe, demand for equipment and support from diabetes patients is growing steadily and this is driving the global continuous monitoring market on to an upward growth curve.

Furthermore, as the focus of global glucose monitoring market players gets sharper over technology and innovation, demand in the market would only take a higher trajectory. Research and development in the field is also paving way for growth in the future.

The global continuous glucose monitoring market’s vendor landscape is a consolidated one and top plaers marking it are Abbott Laboratories (U.S.), ARKRAY, Inc. (Japan), Bayer AG (Germany), Dexcom, Inc. (U.S.), F. (U.S.), and Terumo Medical Corporation (U.S.), among few others. These are deploying  host of organic and inorganic strategies to drive growth in the market.

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As a per a recent report added in the vast library of TMR_Research the global glucose monitoring market is expected to witness a substantial growth during the tenure of 2019 to 2029. According to the report the growth of global glucose monitoring market is attributed to growing cases of diabetes across the globe. Moreover, during the COVID-19 pandemic the diabetic patients have to take special care of health as diabetes reduces the body’s immunity to fight against diseases. Therefore during this pandemic, the glucose monitoring devices are projected to witness a massive demand across the globe which in turn shall boost the growth of global glucose monitoring market during the tenure of 2019 to 2029.

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Outbreak of COVID-19 has propelled the Growth of the Market

COVID-19 has spread across the 100 countries and taken more than million lives and still counting. The pandemic has a higher tendency of affecting the people who are already suffering from diabetes. According to a directive by WHO, people who are suffering from diabetes must take special care of themselves during this tenure of pandemic of COVID-19. Owing to this rising awareness, the global glucose monitoring market shall witness a substantial growth during the tenure of 2019 to 2029. Moreover, diabetes can lead to infections and gangrene of a minute wound which can result in serious complications and may need amputation to stop the spread of infection. Owing to this, people are getting more serious about effects if diabetes. This is also a crucial factor that is boosting the growth of global glucose monitoring market during the tenure of 2019 to 2029.

North America to Hold the Largest Share in the Global Glucose Monitoring Market

The regional front of the global glucose monitoring market is massively dominated by North America. This dominance is the result of growing cases of diabetes in U.S. and Canada. Diabetes is majorly associated to obesity and belly fat. According to a survey by WHO, 40% of U.S. population are suffering from diabetes due to overweight. This has created a major demand for glucose monitoring devices in the region, which as a result is propelling the dominance of North America over the regional front of global glucose monitoring market during the tenure of 2019 to 2029.

Highly Competitive Market to Bring Massive Revenue

The global glucose monitoring market is highly competitive and is moderately fragmented. This nature of the glucose monitoring market is the result of dominance of a very limited group of companies over the dynamics of global glucose monitoring market. However, due to this nature of the market the new players are unable to enter the glucose monitoring market.

To overcome this challenge, the new players are merging and collaborating with some of the established players of the global glucose monitoring market. Also some players are also inclining towards partnering with established players so that they can leverage immense resources of the partnering business. These strategies allow the new players to achieve sustainability in the global glucose monitoring market.

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On the flip side, the established players are acquiring new businesses that shall help them maintain and expand their dominance over the global glucose monitoring market. This strategy also allows the players to leverage the production capacity and distribution network of the acquired company so that can reach out to a larger pool of customers across the globe. With the help of this strategy, the players can develop, maintain, and expand their stronghold over the global glucose monitoring market during the tenure of 2019 to 2029.