The Business Research Company’s Blood Glucose Meters Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 20, 2021 /EINPresswire.com/ — Rising prevalence of diabetes is driving the blood glucose meters market. The changing lifestyle, increase in alcohol consumption, physical inactivity and unhealthy eating habits are leading to an increase in obesity across the globe. Such exponential growth in number of obese people is causing a stern increase in the purchase of blood glucose meters. Due to obesity, fat tissues release more fat molecules into the blood affecting insulin responsive cells, which results in reduced insulin sensitivity, in turn, causing diabetes. According to the study by the International Diabetes Federation (IDF), there will be a 48% increase in diabetes around the world by 2045. According to the International Diabetes Federation (IDF) in 2019, nearly 4.2 million deaths were caused by diabetes.
The global blood glucose meters market size is expected to grow from $2.92 billion in 2020 to $3.99 billion in 2021 at a compound annual growth rate (CAGR) of 36.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.96 billion in 2025 at a CAGR of 5.6%.
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In October 2018, Platinum Equity, California-based private equity investment firm acquired LifeScan, Inc. from Johnson & Johnson for $2.1 billion. With this acquisition, Platinum Equity helps LifeScan to improve the quality of products. LifeScan, Inc., a diagnostic systems manufacturer with products focusing on the diabetes market, specifically blood glucose monitoring systems.
Major players covered in the global blood glucose meters industry are Abbott, Roche, Medtronics, Ascensia and Dexcom.
TBRC’s global blood glucose meters market report is segmented by product type into electrode type blood glucose meter, photoelectric blood glucose meter, by end user into hospitals, home care, by application into type 1 diabetes, type 2 diabetes, gestational diabetes.
Blood Glucose Meters Global Market Report 2021 – By Product Type (Electrode Type Blood Glucose Meter, Photoelectric Blood Glucose Meter), By End User (Hospitals, Home Care), By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides blood glucose meters market overview, forecast blood glucose meters market size and growth for the whole market, blood glucose meters market segments, and geographies, blood glucose meters market trends, blood glucose meters market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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