Rising Incidence Of Diabetes Driving Self-monitoring Blood Glucose Device Sales

By Author: Pramod Kumar
Total Articles: 97
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The growing incidence of diabetes is driving the demand for self-monitoring blood glucose devices across the globe. According to the World Health Organization (WHO), around 422 million people all over the world are currently living with diabetes. Furthermore, the organization reported that the disease claims nearly 1.5 million lives every year. Besides, the surging population of geriatric people is also propelling the advancement of the global self-monitoring blood glucose devices market.

According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. Moreover, the report estimates that the share of geriatric people (people aged 60 years or above) in the global population will rise from 9.2% in 1990 to 21.1% by the end of 2050.

As per the population division of the UNDESA in the United Nations Secretariat, geriatric people are predicted to account for 30% of the population of China by 2050. Moreover, the population of people ...
... aged 60 years and above will rise to 324 million and 437 million in India and China, respectively, by 2050. As geriatric people are highly vulnerable to various chronic illnesses and health conditions, on account of their low immunity levels, their mushrooming population is positively impacting the worldwide sales of self-monitoring blood glucose devices.

Depending on type, the self-monitoring blood glucose devices market is divided into glucose meters, strips, and lancets. Out of these, the strips category contributed the highest revenue to the market in 2017. These devices are primarily used for monitoring type 1 and type 2 diabetes. Of these, the requirement for these devices for monitoring type 2 diabetes is predicted to surge sharply in the coming years. This is ascribed to the growing incidence of type 2 diabetes across the globe. As per reports, type 2 diabetes accounts for as much as 90–92% of all diabetes cases.

Globally, the demand for self-monitoring blood glucose devices is expected to shoot up in the Asia-Pacific (APAC) region in the coming years. This is credited to the growing incidence of type 2 diabetes, ballooning population of geriatric people, and increasing government expenditure on healthcare in the region. As per the International Diabetes Federation (IDF), nearly 82 million adults aged 20–79 years were living with diabetes in Southeast Asian countries, which witnessed a high incidence of diabetes during the same year.

Access Detailed Report Self-Monitoring Blood Glucose Devices Market Competitive Analysis Report@ https://www.psmarketresearch.com/market-analysis/self-monitoring-blood-glucose-market

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.