SMBG or self-monitoring blood glucose involves self-testing of blood glucose levels by people with diabetes any time anywhere. Self-monitoring is an important component of diabetes control therapy, recommended for individuals with diabetes to help achieve specific levels of glycemic control and prevent hypoglycemia. Through SMBG, an individual is able to collect comprehensive data about his blood glucose levels at different points of time in order to maintain constant blood glucose levels. SMBG can help in enabling proper control of diabetes by facilitating development of customized blood glucose profile of the individual which can help the health care professional develop individualized diabetic regimen. It also gives the diabetic patient the ability to undertake proper diet and physical activity choices on daily basis. Additionally, it improves the individual’s recognition of hypoglycemia and enhances and empowers the effects of pharmaceutical and lifestyle intervention on glycemic control.
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Rise in number of patients with diabetes globally is a prominent factor driving the growth of the global self-monitoring blood glucose market. According to the International Diabetes Federation (IDF), the global diabetic population reached 424 million in 2017 from 414 million in 2015, and it is expected to swell further to reach 629 million by 2045. Diabetes is a leading cause of deaths globally, with around 1.6 million deaths reported in 2015. Rise in number of individuals with prediabetes, a serious health condition which often leads to type 2 diabetes, and other significant health conditions such as heart attack, blindness, or stroke is also contributing to the growing burden of the disease.
Initiatives taken by industry players and government and non-government organizations to create awareness about the rising epidemic of diabetes are also expected to contribute to the growth of the market. In July 2017, the American Diabetes Association (ADA), the Centers for Disease Control and Prevention (CDC), and the American Medical Association (AMA) partnered with Ad Council to launch the national public service advertising (PSA) campaign aimed at creating awareness among millions of Americans who run the risk of developing type 2 diabetes. The aim of these programs and initiatives is to help people affected with diabetes and prediabetes seek support from health care professionals and impart the knowledge of maintaining a healthy lifestyle and inculcating the habit of self-monitoring of the disease.
Additionally, new product launches by manufacturers of diabetes supply is another factor contributing to the growth of the self-monitoring blood glucose market. In December 2015, the United States Food and Drug Administration (FDA) granted 510(k) clearance to DarioHealth Corp., the manufacturer of Dario blood glucose monitoring system, including its components, the Dario blood glucose meter, Dario glucose control solutions, Dario blood glucose test strips, and the Dario app on the Apple iOS 6.1 platform and higher.
The global self-monitoring blood glucose market can be segmented based on product type, distribution channel, and geography. In terms of product type, the self-monitoring blood glucose market can be divided into glucose meters, lancets, and test strips. Based on distribution channel, the self-monitoring blood glucose market can be divided into retail pharmacies, mail order pharmacies, online retailers, and hospital pharmacies.
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In terms of geography, the global self-monitoring blood glucose market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global self-monitoring blood glucose market due to continued funding for development of new products for the treatment of the condition. North America is followed by Europe and Asia Pacific. Rapidly rising diabetic population in Asia Pacific is likely to fuel the growth of the market during the forecast period.
Prominent players operating in the global self-monitoring blood glucose market are Abbott Laboratories, AgaMatrix, Inc., B. Braun Melsungen AG, F. Hoffmann-La Roche Ltd., LifeScan, Inc. (Johnson & Johnson), and Ascensia Diabetes Care Holdings AG.
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