The report states that the rising prevalence and increased incidences of diabetes across the globe is the chief factor driving the global self-monitoring of blood glucose (SMBG) market
Albany, NY (PRWEB) February 26, 2015
The research publication states that the SMBG market, encompassing glucose self-monitoring devices and accessories, has now reached a phase wherein it has gained recognition as an integral element of diabetes treatment. As the market becomes more and more sophisticated, technologically advanced glucose monitoring devices have started surfacing with increasingly accurate blood glucose readings. Thus, the global SMBG market serves as an important marketplace that is capable of offering significant benefits to diabetic individuals, and ultimately, to healthcare providers in a financial way.
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The report indicates that the key driving factor behind the flourishing growth of the global SMBG market over the past few years is the mounting global diabetic population. Lack of an effective cure for the disease, rising awareness among diabetics, technologically-advanced devices aimed at minimally-invasive and non-invasive testing methodologies, active reimbursement policies, and the availability of economical blood glucose meters are the other factors driving the demand for self-monitoring of blood glucose.
On the flip side, the SMBG market also faces challenges such as skepticism surrounding accuracy of results, affordability of technologically advanced devices, and some tricky reimbursement issues that need to be addressed by insurers, manufacturers, and health authorities.
The report chiefly segments the global self-monitoring of blood glucose market into types of blood glucose meters, blood glucose lancets, and blood glucose test strips. The analysis of regional markets is also based on these segments.
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The report also presents a detailed SWOT analysis of the global SMBG market, presenting before the reader the strengths, weaknesses, opportunities, and threats faced by the market in the current scenario.
Alongside the detailed financial profiles of nine key businesses operating in the global SMBG market, the report also offers key insights into the market’s current state and future growth prospects, based on the opinions of four expert interviewees.
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