According to a recently published report by Research Nester on “Next Level IOT Blood Glucose Monitoring Device Market : Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global next level IOT blood glucose monitoring device market in terms of market segmentation segmented by technology, by end user, by distribution channel, by usage and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The increasing chronic disease cases and rise in geriatric population has resulted in emergence of demand constant vital sign monitoring for instance, blood glucose level, body temperature, pulse rate, respiratory system and many more. The integration of conventional BGM devices with IT has successfully provided wireless IOT blood glucose monitoring devices that have the capability to monitor and record real time data.
The recent growing requirement of bioreactors for varied applications for instance tissue engineering, cell expansion and 3D tissue construction coupled with reasonable price backing and decent return on investment are expected to increase the demand for cell bag bioreactors by 2027.
The market is segmented by technology, end user, distribution channel and usage. The technology segment is further segmented into Wi-Fi, Bluetooth low energy, ZigBee, near field communication (NFC), cellular and satellite, out of which, the cellular technology segment is anticipated to have leading shares on account of its ability to data transmission over long distances providing it a large patient monitoring application base. The usage segment is sub segmented into personal and professional, out of which the personal segment is expected to have around 60% of market share. The end user segment is further segmented into clinical research organizations, hospitals and clinics, research and diagnostic laboratories and others. The hospital segment is anticipated to have leading market shares owing to improved healthcare facilities and better treatment outcomes, with homecare segment to witness significant growth owing to possibility of self-monitoring, ease of application, report generation and data connectivity with concerned specialists during the forecast period.
Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is expected to have leading market shares owing to high adoption of IT integration in self-health care followed by Asia-Pacific which is anticipated to witness significant market growth on the back of increasing consumer disposable income level, investment in healthcare facilities coupled with public and private sector initiatives.
Changing Consumer Lifestyle and Advancements to Boost the Market Growth
The changing consumer lifestyle with inclination towards smoking, alcohol consumption and improper eating habits has led to increase in diabetes cases globally, which indeed is expected to drive the product demand on the back of requirement for constant monitoring. Additionally, recent developments for instance possibility to record data for long term, maintain dosage are expected to drive the market growth.
Industry Players are Progressing towards Minimizing the Barriers faced by the Global Next Level IOT Blood Glucose Monitoring Device Market
Limitations of at the data processing and data extraction is expected to hinder the market growth. Additionally, data privacy, security and accuracy coupled with improper device provision for emergencies could be an issue for the limited product demand.
This report also provides the existing competitive scenario of some of the key players of the global next level IOT blood glucose monitoring device market which includes company profiling of F. Hoffmann-La Roche AG, Dexcom Inc., Medtronic plc., Abbott, LifeScan Inc., Ascensia Diabetes Care and other prominent players
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global next level IOT blood glucose monitoring device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.