The global Self Monitoring Blood Glucose market is anticipated to propel at a constant rate in the upcoming 4-5 years, owing to increasing incomes, rising health awareness, lifestyle diseases, and growing access to insurance. In addition to this, healthcare strengthening coverage, services and increasing expenditure by public as well as private players is envisioned to bolster the growth of the global Self Monitoring Blood Glucose market. Total health spending is rising faster than the gross domestic product (GDP); increasing more rapidly in low and middle-income countries (around 6%) than in high-income countries (around 4%). In middle-income countries, the average per capita spending has doubled since 2000. In high-income countries, governments have increased their allocations to health. Further, it is anticipated that global health care spending is anticipated to rise at a CAGR of 5% between 2019-2023.
Similar to over past years, health care spending will be fostered by the shared factors of growing global and old age population, healthcare companies market expansion, clinical and technological advances. Further, with more countries expanding and deepening their public health care systems, the trend toward universal healthcare is expected to continue its brisk growth. Still, the short term outlook of healthcare expenditure differs region by region owing to varying public health system budgets and government regulations.
The Asian market is offering opportunities for expansion and several market players are anticipated to benefit in the growing Self Monitoring Blood Glucose market. Expansion of healthcare coverage in emerging nations, rising care needs of the ageing population are believed to intensify the growth of the Asian market. In China, rising wealth and expansion of China health care system is anticipated to boost healthcare spending. Also, new market entrants are redefining fundamental business aspects and focusing to establish their operations, owing to the rising demand for Self Monitoring Blood Glucose. The rapid growth of medical cosmetology and assisted reproduction services is resulting in increased medical tourism in China, India, Korea, Japan, among other Asian countries.
Some health care companies are looking to optimize operational and financial performance and focusing on mergers, acquisitions, and partnerships to add technologies and capabilities and build scale. Significant consumption of Self Monitoring Blood Glucose has been reported in the Asia-Pacific region which is offering revenue growth opportunities to market players. The scope of the global Self Monitoring Blood Glucose market stretches from market sizes and forecasts to the competitive landscape. This report studies and presents growth opportunity on year basis, market segmentation including various growth drivers, market barriers, opportunities and industry trends marking effect on the growth of the market. The global Self Monitoring Blood Glucose market is anticipated to achieve a considerable absolute $ opportunity value in 2024 as compared to the value achieved in 2019.
The global Self Monitoring Blood Glucose market report offers an in-depth analysis of supply and demand risks that may affect the growth of the market in the years ahead. In addition to this, the global Self Monitoring Blood Glucose market provides a separate analysis of macro-economic indicators impacting the growth of the market.
Source: U.S. National Health Expenditure Projections Report
According to U.S. Centers for Medicare & Medicaid Services, The United States of America (U.S.) healthcare expenditure exhibited a growth rate of 4.6% to reach USD 3.6 trillion or USD 11,172 per person in 2018. Further, national health spending is anticipated to grow at an average rate of 5.5% per year for 2018-2027 and is likely to reach USD 6.0 Trillion by 2027. Globally, U.S. has continued to come in with highest expenditure by a government on health per capita based on purchasing power parity. With nominal GDP growth anticipated to average 4.6% during this 2020-2027, the health share of GDP is likely to rise to 19.4 percent by 2027, from 17.8 percent in 2019. Personal health care prices are forecasted to grow by 2.7% per year on average over 2020-2027, on the account of faster-expected growth in health sector wages.
A weighted chapter in the report focuses on regional scenario in market which includes North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Country-specific assessment on the demand of Self Monitoring Blood Glucose market has also been covered in the report. In North America market, the report is segregated by country in United States and Canada. In Europe, the report studies Germany, United Kingdom, Italy, France, Russia, Spain and Rest of Europe.
In the Asia Pacific Self Monitoring Blood Glucose market, the report offers an analysis of China, India, South Korea, Indonesia, Japan, Australia, New Zealand and Rest of Asia Pacific. In Latin America section, Brazil, Mexico, Argentina and Rest of Latin America country analysis is covered. Middle East and Africa region is segmented into GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East and Africa.
The report concludes with a separate chapter on the competitive landscape which offers a detailed company profiling of key and niche players in Self Monitoring Blood Glucose market. Company profiling includes in-depth strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development expansion and other market activities).
Figure. Market Players Competitive Positioning
Market share analysis of the market players operating in global Self Monitoring Blood Glucose market provides reader with actionable intelligence which helps them to determine the competitive level in market.
Market Value, Demand, and Y-o-Y Growth Analysis
Market Segmentation Analysis by Region
Value Chain Analysis
Porters Five Force Model
Macro-economic Indicators impacting the growth of the marketCompetitive Landscape
We offer customization of this report for our client as per their specific needs.