Global Self-Monitoring Blood Glucose Market is valued approximately at USD 8.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.2% over the forecast period 2020-2027. Self-monitoring of blood glucose is an integral phase in management of diabetes around the world. Self-monitoring blood glucose (SMBG) devices are primarily used to track and monitor the level of blood glucose among diabetic patients. These devices are easy-to-use and helps patients to decide the insulin dosage. SMBG devices mainly consists of lancets, test strips, and blood glucose meters that used to detect the blood glucose level. The increase in self-monitoring blood glucose market is imputed to the fact that the necessity for safer and faster diagnosis of diabetes is relentlessly expanding across the globe. Moreover, the rise in prevalence of diabetes coupled with growing government initiatives for spreading awareness among people to treat their health condition are the few other factors responsible for the CAGR of the market during the forecast period. According to the International Diabetic Federation (IDF), the prevalence rate of diabetes among adults was estimated around 463 million adults (20-79 years) in 2019, and this estimation is likely to reach nearly 700 million by the year 2045. Likewise, as per the IDF Diabetes Atlas in 2019, the numbers of diabetic patients in Europe is likely to reach around 68 million by the year 2045, and the total health expenditure for the treatment of diabetes valued at USD 214 billion. This, in turn, is expected to strengthen the demand for self-monitor blood glucose devices, thereby contributing to the market growth all over the world. However, the high cost of the advanced self-monitoring blood glucose devices with the lack of reimbursement policies are the few factors restraining the market growth over the forecast period of 2020-2027.

The regional analysis of the global Self-Monitoring Blood Glucose market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of advanced self-monitoring blood glucose devices along with the presence of a significant number of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of diabetes aligned with the improving patient awareness about these devices in developing nations, such as China and India, would create lucrative growth prospects for the Self-Monitoring Blood Glucose market across the Asia-Pacific region.

Major market player included in this report are:
Abbott Laboratories
Becton, Dickinson and Company
B. Braun Melsungen AG
F. Hoffmann-La Roche Ltd.
Johnson & Johnson
Medtronic plc
PHC Holdings Corporation
Sanofi S.A.
Terumo Corporation
Trividia Health, Inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Test Strips
Lancets
Blood Glucose Meters

By Application:
Type 1 Diabetes
Type 2 Diabetes
Gestational Diabetes

By End-Use:
Hospitals
Home Settings
Diagnostic Centers

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2017, 2018
Base year - 2019
Forecast period - 2020 to 2027

Target Audience of the Global Self-Monitoring Blood Glucose Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors