According to the business intelligence report titled ‘Global Self-Monitoring Blood Glucose Market Size study, 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) and Regional Forecasts 2020-2027’, available with Market Study Report, global self-monitoring blood glucose market was assessed at USD 8.5 billion in 2019 and is speculated to record a yearly growth rate of 4.2% over 2020-2027 to accumulate USD 11.8 billion by the end of forecast period.
 

Preference for faster and safer methods for diabetes diagnosis, rising cases of diabetes, and efforts taken by government to enhance awareness about this health condition are key factors driving global self-monitoring blood glucose market expansion.
 

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As per International Diabetic Federation (IDF), 463 million adults in the age group of 20-79 years suffered from diabetes in 2019 globally, with cases rising to 700 million by 2045. Similarly, according to the IDF Diabetes Atlas of 2019, 68 million European people are projected to have diabetes by 2045.
 

For the unversed, self-monitoring blood glucose devices are used to keep track of blood sugar levels and monitor them. These devices are easy-to-use and enable diabetes patients to make informed decisions about insulin dosage.
 

On the other hand, absence of reimbursement policies and high cost of devices are key factors hindering the global self-monitoring blood glucose market outlook.
 

Based on product gamut, worldwide self-monitoring blood glucose industry is bifurcated into test strips, blood glucose meters, and lancets. Speaking of application scope, the market is divided into gestational diabetes, type 1 diabetes, and type 2 diabetes. While the various end-users are home settings, hospitals, and diagnostic centers.
 

From the regional frame of reference, North America led the global self-monitoring blood glucose market forecast in the past year. Presence of high number of leading companies in the region, and early adoption of modern devices are key factors boosting regional market size.
 

Meanwhile, Asia Pacific market is projected to expand rapidly between 2020-2027, due to growing awareness of self-monitoring blood glucose devices, and rising cases of diabetes in developing countries like India and China. 
 

Key players profiled in the report are Sanofi S.A., Trividia Health Inc., Becton Dickinson and Company (BD), Medtronic plc, Abbott Laboratories, PHC Holdings Corporation, B. Braun Melsungen AG, Terumo Corporation, Johnson & Johnson, and F. Hoffmann-La Roche AG.