A glucometer is a medical device that monitors and analyses the glucose level in the blood. The patients suffering from Diabetes Mellitus disease are at constant risk and need to monitor the levels intermittently.
The adults over eighteen years of age had a prevalence 8.5% making it 422 million patients globally which has increased year-on-year with increasing sedentary lifestyle, food habits and lack of physical activities. The routine check-up used to require needle pricking to suck blood for monitoring which has been substituted to a greater extent by the emergence of the Needle Free Glucometers in the market.
These medical devices come with highly sophisticated monitoring capabilities, portability and can be connected to various other devices for analyzing the concentrations. The needle free glucometers come in a variety of data management, insulin supplement support, application software connectivity and data storage capability.
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The global needle free glucometer market is expected to experience steady growth due to increasing prevalence of diabetic patients. The changing consumer preference regarding continuous glucose monitoring is advantageous clinically as well as economically.
The technological advancements in the needle free glucometer has made the acceptance of these devices easier. The non-invasive needle free glucometer is pain less and is one of the specifications that will drive an exponential growth of the needle free glucometer market.
The portability of these devices can be the USP for needle free glucometers. The wearable devices are aimed at connecting the patient with the other devices for analyzing the data generated over a period of time. The data analysis will not only help the manufacturers but also other dependent service providers involved in the value chain.
The integration of the insulin supplying devices attached to the needle free glucometer will be an added factor for driving the market. The application of needle free glucometers will be more in children suffering from Type 1 diabetes refraining from the needles. The development of micro sensors will help shift the customers relying on the conventional painful needle pricking techniques.
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The global needle free glucometer market is segmented based on the technology, distribution channel and regions.
By technology, the global Needle Free Glucometer market is segmented as:
- Sensor based
- Non-sensor based
By modality, the global Needle Free Glucometer market is segmented as:
- Implantable
- Wearable
By distribution channel, the global Needle Free Glucometer market is segmented as:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
- Diagnostic Laboratories
By technology, sensor based glucometer is expected to be the most lucrative segment in the global needle free glucometers market. By modality, wearable are expected to be the most revenue generating segment in global needle free glucometers market.
By distribution channel, retail pharmacies is expected to be the most lucrative segment in global needle free glucometers market owing to higher patient footfall. The other arising segment in the needle free glucometer market is glucometer which can provide doses of insulin by monitoring the concentrations of glucose level in the blood.
The global needle free glucometers market is expected to be dominated by the North America due to higher prevalence of the awareness. Europe is expected to be the second most lucrative region in the needle free glucometers market owing to higher adoption of the technology.
Emerging markets such as India and China show potential for market growth as they are home to the world’s largest patient population. Latin America market is expected to experience steady growth whereas MEA expected to be the least lucrative needle free glucometer market due to lower adoption.
The needle free glucometer market will experience more collaborations, mergers and acquisitions keeping in mind the entry barriers depending on the various regions as well as a stiff competition in the regions where the availability of competitors are more in number.
The key participants operating in the global needle free glucometer market are Dexcom Inc., Bigfoot Biomedical Inc., Senseonics, F. Hoffmann-La Roche Ltd, Johnson & Johnson Services, Bayer AG, Abbott, ForaCare Inc., OMRON Healthcare India Pvt Ltd, B. Braun Medical Inc, Integrity Applications.
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The report covers exhaustive analysis on:
- Needle Free Glucometer Market Segments
- Needle Free Glucometer Market Dynamics
- Historical Actual Market Size, 2013 – 2017
- Needle Free Glucometer Market Size & Forecast 2018 to 2024
- Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Market Drivers and Restraints
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Report Highlights:
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size recent industry trends
- Key Competition landscape
- Strategies for key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance