Diabetes, also known as Diabetes Mellitus (DM), is a group of metabolic disorders characterized by high blood sugar levels. The symptoms of high blood sugar include, frequent urination, increased thirst, and increased hunger. Acute complications in diabetes include, diabetic ketoacidosis, hyperosmolar hyperglycemic state, or death. Other severe complications include, cardiovascular disease, stroke, chronic kidney disease, foot ulcers, and damage to the eyes. The disorder is mainly due to the inability of pancreas to produce enough insulin. Moreover, the disease causes due to lack of response of cells of the body to the insulin.

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As diabetes is a chronic disease, there is no known cure and keeping blood sugar levels as close to normal is one of the very few methods in management of the disease. Blood sugar levels can be monitored and tracked using assistive medical devices known as diabetes monitoring or blood glucose monitoring devices. These devices are available for patients suffering from both type I and type II diabetes. High prevalence of diabetes due to changing lifestyle is increasing demand for diabetes monitoring devices in developed as well as emerging economies, which in turn is propelling growth of the market.

The global Diabetes Monitoring Devices Market was valued at US$ 15,276.1 million in 2016 and is expected to witness a robust CAGR of 8.87% over the forecast period (2017 – 2025).

An extensive patient pool serves as a major driving factor for the diabetes monitoring devices market

Increasing incidence of diabetes across the world is one of the primary factor responsible to drive growth of the global diabetes monitoring devices market. For instance, according to the World Health Organization (WHO), 2014, around 8.5% of adults aged 18 and above accounting for 422 million adults were suffering from diabetes worldwide. Moreover, diabetes was the cause of 1.6 million deaths in 2015 and high blood glucose levels was the cause of another 2.2 million deaths. According to National Diabetes Statistics Report 2017 published by Centers of Disease Control and Prevention (CDC), around 9.4% of American population, which includes all age groups i.e., pediatric, adults and geriatric population accounting for 30.3 million people are suffering from diabetes whereas 33.9% of the rest population is diagnosed with pre-diabetes. The prevalence of diabetes is significant among the emerging economies of Asia. According to a study report published in World Journal of Diabetes 2012, Asian economies contribute to more than 60% of the diabetic population in the world. The massive prevalence of diabetes is thus expected to create a demand for monitoring blood glucose devices, which in turn is expected to foster growth of the global diabetes monitoring devices market.

Advancements in the glucose monitoring devices to boost growth of the global market

Market players are actively investing into research for developing innovative solutions by integrating units to monitor the insulin levels and maintain the blood glucose levels by automatically delivering insulin to parts of the body with the help of continuous glucose monitoring systems. For instance, in September 2017, the U.S. FDA approved first blood sugar monitor that does not require finger pricks and uses a small sensor that can be attached to the upper arm for continuous glucose monitoring. Moreover, in February 2018, Medtronic Plc introduced a next generation continuous glucose monitoring system named iPro 2 Professional to improve diabetes management in 41 economies around the world.

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The key players operating the global diabetes monitoring devices market include Bayer Healthcare AG, Medtronic, Dexcom, Sanofi, Abbott Laboratories, MediWise, Arkay, Inc., Cnoga Medical, and Bigfoot Biomedical.

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