According to the research report titled, ‘Self-monitoring Blood Glucose Devices Market Size By Product (Self-monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets), By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), By End-use (Hospitals, Home Settings, Diagnostic Centers & Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with MarketStudyReport, global self-monitoring blood glucose devices market is anticipated to grow significantly during 2020-2026.
 

Increasing prevalence of diabetes, technological advancements in this business space, along with favorable government initiatives and policies to raise awareness among the masses are key factors propelling the progression of global self-monitoring blood glucose devices market.
 

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For the unversed, self-monitoring blood glucose devices are portable systems which enables the patients to measure glucose concentration levels through a small drop of blood obtained via a finger prick. It also has the ability to help patients adjust to a new therapeutic regime including diet changes, insulin doses, and physical exercise levels in order to achieve glycemic control.
 

On the contrary, high costs associated with advanced devices and accessories along with lack of reimbursements policies and rigid regulations for these devices are likely to hamper the industry remuneration scope in the ensuing years.
 

By product, the testing strip segment generated revenues worth USD 12 billion in 2019 and is anticipated to record considerable growth during 2020-2026. Testing strips are known to offer accurate monitoring capabilities and are quite easy to use.
 

Based on the application spectrum of global self-monitoring blood glucose devices market, the Type-2 diabetes segment held a revenue share of 90% in 2019 and is slated to show similar growth trends during the forecast period. Type-2 diabetes is the most common form of diabetes and affects a large portion of the global population. Various research and product developments by established companies for accurate and easier use of glucose monitoring devices are thus, augmenting industry outlook.
 

By end-user landscape, home settings segment accounted for around 40% revenue share of global self-monitoring blood glucose devices industry in 2019 and is projected  amplify substantially during the study period, creditable to increasing adoption of these devices in homecare settings among the geriatric population and  their easy availability among the masses.
 

Regionally speaking, Asia Pacific market is expected to record 6.3% CAGR through 2026, accreditable to expanding aging population, which is prone to numerous chronic conditions, emergence of latest healthcare devices, and high concentration equipment manufacturers in the region.
 

Key players in global self-monitoring blood glucose devices market are Sinpcare, Inc, Nova Biomedical Corporation, Medtronic plc, Platinum Equity LLC (Lifescan, Inc), F. Hoffman -La Roche AG, Eumed Biotechnology Co., Ltd, Essenlife Bioscience, Inc, DexCom, Inc, Bionime Corporation, Bayer AG, B. Braun Melsungen AG, Arkray, Inc, All Medicus Co., Ltd, Ascensia Diabetes Care Holdings AG, and Abott Laboratories.