CHICAGO, April 6, 2021 /PRNewswire/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this Global Blood Glucose Monitoring Consumables Market report.
The market for blood glucose monitoring consumables is expected to grow at a CAGR of approximately 13% during the period 2020-2026.
Key highlights offered in the report:
- The COVID-19 pandemic has prioritized the treatment of coronavirus patients and diagnostic laboratories are concerned about specimens for diagnostic purposes. This encourages diabetic patients to use their own self-monitoring blood glucose devices, thus fueling the purchase of consumables due to the fear of a shortage of goods during the pandemic.
- Use of continuous glucose monitoring (CGM) devices is high among long-term care patients. Patients undergoing surgeries requiring post-operative blood glucose monitoring, which is also propelling the demand for CGM devices in the market and driving the demand for sensors used in CGM as the majority of patients are restricted to moving to the hospitals during the COVID-19 pandemic.
- The United States accounted for about 39% in the world and more than 92% in the North American region in 2020. The utilization of blood glucose consumables is comparatively higher in this country.
- The test strips product segment accounted for the largest share of the market, accounting for over 64% in 2020.
- People using glucometers with consumables have increased due to the COVID-19 pandemic. This segment is further expected to show an absolute growth of over 117% during the forecast period.
- The online distribution channel accounted for the largest share with around 58% in the market in 2020. E-commerce in developing countries offers huge discounts on products, making it affordable for patients, attracting consumers widely. patients to buy the product such as test strips, lancets and sensors.
Key offers:
- Market Size and Forecast by Revenue | 2020−2026
- Market Dynamics – Key Trends, Growth Drivers, Restraints and Investment Opportunities
- Market Segmentation – A detailed analysis by products, end users, distribution channel and geography
- Competitive landscape – 6 key vendors and 30 other vendors
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Blood Glucose Monitoring Consumables Market – Segmentation
- Test strips accounted for more than 64% of the global blood glucose monitoring consumables market in 2020. As test strips revenue is recurring, vendors strategize to maximize sales volume and profit margins by offering innovative products. However, the increasing use of self-monitoring blood glucose tests by patients and professionals in multiple POC testing sites such as emergency care, physicians’ offices, outpatient settings, and nursing homes is increasing consumption. reactive strips.
- In 2020, the end user segment was segmented into individuals, hospitals and clinics, and others. The retail segment accounted for the largest share of the market at 75%. The individual segment accounts for the highest share owing to the wide acceptance of SMBG monitoring devices and consumables such as test strips, lancets, and lancing devices among consumers.
- Online distribution channels are growing significantly, although retail channels maintain their lead. Online shopping channels are expected to grow at a CAGR of over 12% during the forecast period. However, retail stores continue to be preferred for purchasing BGM consumables and devices in low- and middle-income countries.
Blood Glucose Monitoring Consumables Market by Product
- Test strips
- Lancets and lancing devices
- Sensors
Blood Glucose Monitoring Consumables Market by Distribution Channels
Blood Glucose Monitoring Consumables Market by End Users
- Hospitals & Clinics
- People
- Others
Blood Glucose Monitoring Consumables Market – Dynamics
Most patients prefer personal blood glucose monitors that can be self-contained. The availability of lancets and blood glucose test strips through online channels has enabled patients to undergo tests at home and consult doctors through remote access to telemedicine. In the case of patients requiring continuous glucose monitoring (CGM), sensors are placed in contact with the patient’s body to continuously measure their blood glucose. Doctors are therefore kept informed of the patient’s condition. Thus, the use of CGM sensors, self-monitoring glucose meters and test strips increased after the outbreak of the COVID-19 pandemic. Diabetes is an important comorbidity that can lead to hospitalization and death in patients with COVID-19. COVID-19 patients admitted to hospitals are given a separate BGM device with a set of test strips. These measures taken to reduce the spread of COVID-19 have increased the adoption of blood glucose monitoring devices, including consumables such as lancets and test strips.
Key Drivers and Trends Fueling Market Growth:
- Technological advances in test strips and lancets
- Availability of a large number of generic test strips
- Increase in the prevalence of diabetes
- Availability of a wide range of blood glucose monitoring devices
Blood Glucose Monitoring Consumables Market – Geography
The North American region dominates the market owing to its developed healthcare infrastructure and increased patient awareness. The use of CGM sensors, test strips, lancets and lancing devices is high among patients in the region. In Europe, BGM devices and consumables are not evenly distributed. In several large countries in the region, BGM devices and their consumables are covered by insurance, while in some Eastern European countries patients have to pay exorbitant amounts out of pocket to purchase blood glucose devices and consumables. North America is considered an attractive market for product launches by global vendors in the Blood Glucose Monitoring Consumables market. Several products, including Abbotts flash glucose monitors (CGMs) with sensors and Dexcom’s CGM device sensors, were first launched in the United States as these products are more affordable for the patient population. living in the area.
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Blood Glucose Monitoring Consumables Market by Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- APAC
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Mexico
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- Turkey
- South Africa
- Iran
Main suppliers
- Abbott
- F. Hoffmann-La Roche
- Dexcom
- Medtronic
- Diabetes Management Ascensia
- LifeScan
Other Important Suppliers
- 77 Electronics Kft
- ARKRAY
- A. Menarini Diagnosis
- AgaMatrix
- international alliance
- B. Braun Melsungen
- biome
- Bioptik
- Medical Biotest
- BTNX
- EASYMAX
- i-SENS
- iHealth Laboratory
- MEDIUM CONFIDENCE
- Medisana
- Major biosystem
- Sanofi
- TaiDoc Technology
- Terumo
- Trividia Health
- HMD
- Rossmax International
- Bioland Technology
- e-Linkcare Meditech
- SA Diagnosis
- Microlife
- Ypsomed
- National diagnostic products
- Norditalia
- IME-DC
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