United States Self-Monitoring Blood Glucose Devices Market Research 2023-2032: SMBG Devices and CGM Systems Surge - The Shift from Traditional Blood Glucose Meters
PR Newswire
DUBLIN, March 27, 2024
DUBLIN, March 27, 2024 /PRNewswire/ -- The "United States Self-Monitoring Blood Glucose Devices Market Growth, Share, Size, Trends, Analysis and Forecast (2024 - 2032)" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive research study has been added to an extensive repository, providing a detailed overview of the U.S. Self-Monitoring Blood Glucose Devices (SMBG) market. With a robust CAGR of 6.5%, the market size, which stood at USD 4,045 million in 2023, is projected to reach approximately USD 7,138 million by 2032.
Market Dynamics and Growth
The market is experiencing substantial growth due to several key factors. An increasing prevalence of diabetes in the United States, coupled with technological advancements in glucose monitoring devices, drives the sector forward. The rising trend of wearable technology and smart devices that provide real-time data management has contributed significantly to the market expansion. Patient empowerment and the shift towards home care management of health conditions, particularly highlighted during the COVID-19 pandemic, have accelerated the demand for SMBG devices. The market landscape is further shaped by developing insurance policies and reimbursement frameworks that influence consumer accessibility and affordability.
Technological Integration and Wearable Innovations
Progress in digital health integration and the anticipation of non-invasive wearable glucose monitoring technology signifies a transformative phase for the SMBG devices market. Personalized diabetes management through AI and advanced data analytics are foreseen to offer predictive insights, enhancing individualized care approaches.
The research provides invaluable insights into the SMBG market, addressing the existing regulatory frameworks, and featuring a comprehensive list of major market participants leading with innovation. As the market for blood glucose self-monitoring continues to evolve, stakeholders across the healthcare continuum are keen to understand the factors driving growth and shaping future opportunities. This extensive report serves as a crucial tool for industry leaders, healthcare providers, researchers, and investors, who are looking to gain a clear understanding of the U.S. SMBG market dynamics and capitalize on the growth opportunities it presents.
Key Players and Market Developments
A detailed evaluation highlights the key companies dominating the market. Among these are industry giants such as Roche, LifeScan, Inc., Arkray, Inc., and several other prominent manufacturers and service providers. The study probes into their strategies, product developments, and market presence, providing a holistic view of competitive dynamics. For those seeking to expand their knowledge on the U.S. SMBG market's current state and future projection, this research study contains critical data and analytics poised to inform decision-making and strategic planning.
Key Questions Addressed by the Report:
- How many people in the United States have diabetes?
- How many people in the United States use insulin?
- How has the United States self-monitoring blood glucose devices market performed so far?
- How is the United States self-monitoring blood glucose devices market anticipated to evolve during the forecast period 2024 - 2032?
- How is each segment of the United States self-monitoring blood glucose devices market expected to grow during the forecast period, and what is the revenue expected to be generated by each of the segments by the end of 2032?
- What are the main drivers and restraints in the United States self-monitoring blood glucose devices market?
- What are the major deals happening in the United States self-monitoring blood glucose devices market?
- What are the various SMBG devices available in the United States?
- What is the reimbursement scenario of the products offered in the United States self-monitoring blood glucose devices market?
- What is the regulatory system of the self-monitoring blood glucose devices market in the United States?
- Who are the top market players and what are their happenings, products, current developments, and scenarios?
The future of the SMBG market appears promising, with several key trends expected to shape its evolution:
- Integration with Digital Health Platforms: Increased integration with digital health platforms and medical recording systems for comprehensive health management.
- Wearable Technology: The development of non-invasive, wearable technology for continuous glucose monitoring is a potential game-changer, even if there are still significant scientific and regulatory hurdles.
- Personalized Diabetes Management: Advances in data analytics and artificial intelligence (AI) are expected to enable personalized, predictive insights into diabetes management.
The Key Companies Dominating this Market for their Products, Services, and Continuous Product Developments are:
- Roche
- LifeScan, Inc
- Arkray, Inc
- ForaCare, Inc
- Fifty50 Medical
- iHealth Labs
- Oak Tree Health
- Livongo Health
- Dario Health
- One Drop
- Sanofi
- BioTel Care
- Walgreens
- i-SENS, Inc
- Medtronic
- U.S. Diagnostics
- Omnis Health
- Nova Diabetes Care
- Trividia Health, Inc
- Simple Diagnostics
- Smart Meter LLC
- Ascensia Diabetes Care
- Abbott Diabetes Care
- Genesis Health Technologies
- Prodigy Diabetes Care, LLC
- Omron Healthcare
- Ypsomed Holding AG
- Osang Healthcare Co., Ltd
- B. Braun Holding GmbH & Co. KG.
- Entra Health (Acquired by CRF Health)
- Waveform Diabetes (Formerly AgaMatrix Holdings, LLC)
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. United States Diabetes Population and Forecast, 2018 - 2032
5. United States Insulin Users Volume and Forecast, 2018 - 2032
6. United States Self-Monitoring Blood Glucose (SMBG) Market Size and Forecast, 2018 - 2032
7. United States Self-Monitoring Blood Glucose (SMBG) Market Share: By Segment
8. United States Self-Monitoring Blood Glucose (SMBG) Market: Segment Analysis and Forecasts,2018 - 2032
8.1 Blood Glucose Meter Users Volume Assessment
8.2 Blood Glucose Meter Market
8.3 Blood Glucose Test Strip Users Volume Assessment
8.4 Blood Glucose Test Strip Market
8.5 Blood Glucose Lancet Users Volume Assessment
8.6 Blood Glucose Lancet Market
9. Key Market Drivers and Inhibitors of the United States Self-Monitoring Blood Glucose Devices Market
9.1 Market Drivers
9.2 Market Challenges
10. Reimbursement Environment of the United States Self-Monitoring Blood Glucose Devices Market
11. Regulatory Framework of the United States Self-Monitoring Blood Glucose Devices Market
12. Recent Industry Developments and Deals in the Self-Monitoring Blood Glucose Devices Market
12.1 Collaboration Deals
12.2 Licensing Agreement
12.3 Partnership Deals
12.4 Distribution Agreement
12.5 Exclusive Agreement
12.6 Mergers & Acquisitions
13. Key Companies Profiles (Business Overview, Key Marketed Products, and Recent Development)
For more information about this report visit https://www.researchandmarkets.com/r/p1t3sa
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