Increasing diabetic population to drive India glucose monitoring devices market during the forecast period
According to TechSci Research report, “India Glucose Monitoring Devices Market By Product, By Application, By End User, By Region, Competition, Forecast & Opportunities, FY 2026”, India glucose monitoring devices market stood at $ 209 million in FY 2020 and is projected to grow at a CAGR of 10% during FY 2020 – FY 2026 on account of increasing geriatric population prone to diabetes. Furthermore, growing trend of homecare settings is expected to create lucrative opportunities for major players operating in the market. Besides, technological advancements and new product launches by the major players operating in the market is further expected to boosting market growth through FY2026. However, high cost associated with the application of CGM systems and associated complications such as glucose monitoring devices offering readings in a range rather than the exact number, may hamper the market growth during forecast period.
India glucose monitoring devices market is segmented based on product, application, end user, and region. Based on application, the market can be fragmented into type 1 diabetes, type 2 diabetes, and gestational diabetes. Type 2 diabetes dominated the market until FY 2020 and the segment is expected to maintain its dominance during forecast period as well. Based on end user segmentation, the market can be categorized into home care settings, hospital, and others. Out of these, the home care settings segment is forecast to hold the largest market share in the coming years since self-monitoring solutions and devices are most widely used method of short-term glucose monitoring. Additionally, an individual can measure blood sugar levels with ease and convenience sitting at their homes, which is expected to further contribute to the segmental growth. Based on product, the market can be bifurcated into self-monitoring glucose devices and continuous glucose monitoring devices, of which the former segment dominates the market.
Roche Diagnostics India Pvt Ltd, Abbott India Limited, Becton Dickinson Private Limited, ARKRAY Healthcare Pvt Ltd., B Braun Medical India Pvt Ltd., Dr Morepen, Johnson & Johnson Private Limited, India Medtronic Pvt Ltd, Pulsatom Health Care Pvt Ltd, and Bio-Rad laboratories India Pvt Ltd. are some of the leading players operating in India glucose monitoring devices market. “India glucose monitoring devices market is expected to witness high growth during the forecast period on account of rising healthcare expenditure. Surging demand for technologically advanced diagnostic and monitoring medical devices is expected to create lucrative opportunities for glucose monitoring device manufacturers in India over the next few years. Besides, the sudden outbreak of COVID-19 pandemic has been further fueling demand for glucose monitoring devices across various regions in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.
“India Glucose Monitoring Devices Market By Product, By Application, By End User, By Region, Competition, Forecast & Opportunities, FY 2026” has evaluated the future growth potential of India glucose monitoring devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India glucose monitoring devices market.
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