Categories
Pharmaceutical

Why is Demand for Blood Glucose Monitors High in the Market for Self-care Medical Devices

As per a new report published by Fact.MR – a market research and competitive intelligence provider, the market for self-care medical devices is anticipated to top US$ 20 Bn by 2031, and is poised to expand at a CAGR of 6%. Demand for blood glucose monitors accounts for 58% of overall market share.

Rise in the prevalence of various chronic diseases has led to the growth of the global self-care medical devices market. These devices assist in better patient compliance and improvement in disease management.

For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=6629

Recent entry of top-notch technologies has made the invention of a smart tract with real-time health monitoring feature a reality. In addition, rising awareness among people regarding these devices will further propel demand for self-care medical devices in the years to come.

Augmented knowledge of one’s condition of health and advantages pertaining to the use of medical gadgets such as glucose monitors and insulin pumps is further likely to pave way for the growth of the global self-care medical devices market over the years.

Key Takeaways from Market Study

  • Valuation of self-care medical devices was estimated at US$ 13 Bn in 2020, and is expected to top US$ 20 Bn by 2031.
  • Key factors driving demand for self-care medical devices include new technological advancements and rising demand for homecare treatments.
  • North America holds close to 40% of the market share for self-care medical devices.
  • In China, demand for self-care medical devices was estimated at US$ 4 Bn in 2020, and is anticipated to expand at a CAGR of 9% over the coming ten years.
  • Demand for blood glucose monitors accounts for 58% of market share for self-care medical devices.
  • Global demand for blood pressure monitors is anticipated to reach a valuation of around US$ 3 Bn by 2031-end.

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=6629

self care medical devices market by FactMR

Key Segments Covered in Self-care Medical Devices Industry Research

By End User

  • Self-care Medical Devices for Geriatrics
  • Self-care Medical Devices for Pediatrics
  • Self-care Medical Devices for Adults
  • Self-care Medical Devices for Pregnant Women

By Distribution Channel

  • Self-care Medical Devices Sold at Pharmacies
  • Self-care Medical Devices Sold through Online Stores
  • Self-care Medical Devices Sold at Supermarkets and Hypermarkets

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/6629

Winning Strategy

Major players in the market are adopting strategies such as launching new products to expand their product portfolios and investing in new R&D projects aimed towards product innovation.

Many manufacturers are working towards making portable and easy-to-use devices.  New and upcoming companies can direct their focus towards product innovation and carrying out awareness campaigns for better reach and costumer acquisition.

Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/17/2001977/0/en/Demand-for-Hospital-Supplies-to-Heighten-with-Severing-Concerns-over-Hospital-Infections-Global-Market-Value-to-Surpass-US-21-Bn-by-2029-Fact-MR.html

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Email: sales@factmr.com
Visit Our Website: https://www.factmr.com