Daily monitoring of glucose is an essential part of diabetes management. The Next-generation glucose monitors can reduce manual glucose monitoring errors and provide the best diabetes care to patients. The Global Smartphone Operated/Next-Generation Glucose Monitor Market is valued at US$ 3.50 Bn in 2021, and it is projected to value US$ 14.91 Bn by 2030, with a CAGR of 17.8 % during a forecast period of 2022-2030.
The high prevalence of diabetes, rising demand for cost-effective equipment, growing geriatric population, unhealthy diet, fast adoption of advanced technologies, increasing government funding for healthcare services, and the surging R&D activities to innovate smartphone medical applications are driving the growth of this market. The increasing outbreak of current COVID-19 forces the biopharma companies to develop rapid and efficient disease monitoring tools. Thus, boosting the opportunities for this market. However, the data accuracy issues related to the glucose monitor devices and the lack of awareness among the public about the advanced medical smartphone applications may restrain the growth of this market over the forecast period.
The smartphone-operated/next-generation glucose monitor market is classified based on components, applications, end-users, and region. The market is grouped into diabetes monitoring devices, tracking & diagnosis apps (ios and android based), and kit accessories by components. The diabetes monitoring device segment is anticipated to dominate this market over the forecast period owing to the high prevalence of diabetes worldwide. By applications, the market is divided into single-use and dual-use. Based on the end-users, the market is classified into home settings, hospitals & other healthcare settings, and other end users. Regionally, the market is catagorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America dominated the market in 2021 and is projected to dominate during the forecast period due to the growing incidence of diabetics, increasing demand for smartphone medical applications, and the rising government initiatives to advance healthcare services.
Some of the key players operating in the smartphone-operated/next-generation glucose monitor market are Health Arx Technologies Pvt. Ltd (India), myDario (US), iHealth Labs, Inc (US), KETO-MOJO (US), LifeScan IP Holdings, LLC (US), Ascensia Diabetes Care (Switzerland), Glooko, Inc (US), Dexcom, Inc (US), Roche Diabetes Care (US), ForeCare, Inc (US), Informed Data Sytems Inc (US), One Drop (US), Amanda Health Inc (US, Big Foot Medical Inc (US), Pops Diabetes Care Inc (US), HealthifyMe (Bengaluru), Intruity Medical, Inc (US), Health25ync (Taiwan), myDiabby Healthcare (France), Symbiome (US), Senseonics Holdings, Inc. (US), Diabnext (France), Diabeto Medtech India Pvt (India), Biosense Technology Pvt Ltd (India), and others.