Industry Background:
Any successful diabetes treatment strategy must incorporate blood sugar testing. It will help you find out whether your blood sugar is under control and detect patterns that could lead to a spike or fall. It also shows how stress and exercise can affect your blood sugar levels, as well as assisting you in evaluating the efficacy of any diabetes drugs you may be taking. Advance devices such as Real-time continuous glucose monitoring (RT-CGM), which includes a glucose reading and pattern every five minutes for up to seven days, is a useful diabetes treatment method for people with type 1 diabetes, who are more vulnerable to extreme and potentially life-threatening hypoglycemia in their search for strong glycemic regulation. Diabetes Testing Systems have evolved over the time, OTC testing systems are commonly available to its users through online and offline distribution channels. Various other factors are set to demand potential for Diabetes Testing Systems.This growth is primarily driven by Prevalence of Diabetic Disorders
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Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Unit |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Medical Devices sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Medtronic (Ireland), Roche (Switzerland), Abbott (United States), LifeScan (United States), Ascensia (Switzerland), Dexcom (United States), Ypsomed Holdings (Switzerland), B. Braun (Germany), Nipro (Japan) and Sanofi (France), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 17th December, 2019 - Medtronic Announced its Acquisition of Klue (Digital Healthcare Startup), This Acquisition is Aimed to Enhance Medtronic’s New Personal Closed Loop System for Diabetes Management. This New System will use Artificial Intelligence to Facilitate Accurate Results. and On 1st October, 2019 - LifeScan Signed Collaboration Deal with Willis Towers Watson to Add A Cost-Effective Digital Diabetes Coaching Solution to Its Onetouch Reveal Plus App's Digital Capabilities and Connectivity
On 8th November, 2020 – Abott Launched its New Painless Diabetes Tester Called “Freestyle Libre” For Indian Consumers. This Device Lets Diabetic Patients Maintain Prescribed Glucose Levels Without Pricking Is Now Available in India. and On 10th March, 2021 – Roche’s Diabetes Care Segment Announced Launch of New Accu-Chek Instant System to Support iPDM. The Device Includes features with Bluetooth enabled connectivity to the mySugr app, Data from the mySugr smartphone app can also be shared with healthcare practitioners in a streamlined manner (HCPs).The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Regulatory Insights:
United States, American Diabetes Association (ADA) - According to the ADA, All Persons Can Begin Testing at The Age Of 45. Adults of Any Age That Are Overweight Who Have One Or More Additional Risk Factors for Diabetes Should Consider Checking for Prediabetes and Possible Diabetes Risk in Asymptomatic Individuals. and International Organization for Standardization (ISO), “Standards for Blood Glucose Meters” – Provides a Comprehensive Set of Standards for Diabetic Test Devices under which, 95% of blood glucose results should be Within ± 0.83 mmol/L of laboratory results at concentrations of under 4.2 mmol/L.
Influencing Trend:
Wireless Technology in Glucometers and Adverse Eating Habits due to Urban Life Style
Market Growth Drivers:
Prevalence of Diabetic Disorders, Advance Detection Features Due to Technical Progress and Growing Healthcare Awareness
Challenges:
Physical Pain Involved and Low Accuracy
Restraints:
Flawed Reimbursement Mechanism
Opportunities:
Rising usage in Emerging Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Diabetes Testing Systems Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Diabetes Testing Systems Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Diabetes Testing Systems players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Diabetes Testing Systems Study Sheds Light on
The Diabetes Testing Systems Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Diabetes Testing Systems industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Diabetes Testing Systems industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.