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South Korea Blood Glucose Monitoring Devices Market Size, Trends 2024-2032

Blood Glucose Monitoring Devices Market- South Korea

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 7.83% (2024-2032)

The South Korean blood glucose monitoring devices market is experiencing significant growth, driven by various key factors. According to the latest report by IMARC Group, the market size is projected to exhibit a growth rate (CAGR) of 7.83% during 2024-2032.

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South Korea Blood Glucose Monitoring Devices Industry Trends and Drivers:

South Korean Blood Glucose Monitoring Devices Market Overview

Key Drivers of Market Growth

  • Increasing Prevalence of DiabetesA rising number of South Koreans are diagnosed with diabetes due to sedentary lifestyles and unhealthy eating habits.
    Blood glucose monitoring devices are becoming essential tools for effective diabetes management.
  • Demand Among the Geriatric PopulationElderly individuals, being more vulnerable to diabetes, are contributing to higher demand for monitoring devices.
    This demographic shift is providing a favorable market outlook.
  • Government InitiativesPublic health agencies, such as the Ministry of Health and Welfare, are raising awareness about the importance of diabetes management.
    These initiatives are encouraging individuals to invest in personal monitoring devices.

Technological Advancements Driving the Market

  • Preference for Innovative and User-Friendly TechnologiesContinuous glucose monitoring (CGM) systems are gaining popularity as they provide real-time glucose readings without frequent finger pricks.
  • Mobile App IntegrationDevices that sync with mobile apps allow for seamless data tracking and personalized health insights.
    These apps offer features like data analysis, trend monitoring, and health reports that can be shared with healthcare providers.
  • Cloud-Based Data SharingCloud technology enables real-time data sharing, which is particularly helpful for continuous monitoring, especially for children and elderly individuals.
  • Advancements in Sensor TechnologyNon-invasive or minimally invasive (MI) glucose monitoring devices are becoming more accessible and preferred by users.

Other Contributing Factors

  • Growing Obesity RatesRising obesity levels, a known risk factor for diabetes, are driving the adoption of blood glucose monitoring devices.
    Modern, less active lifestyles are contributing to the increasing risk of obesity, encouraging preventive health measures such as the use of these devices.

South Korea Blood Glucose Monitoring Devices Market Forecast Segmentation:

The report has segmented the market into the following categories:

Type Insights:

  • Self-Monitoring Blood Glucose DevicesGlucometer Devices
    Test Strips
    Lancets
  • Continuous Blood Glucose Monitoring DevicesSensors
    Durables (Receivers and Transmitters)

Regional Insights:

  • Seoul Capital Area
  • Yeongnam (Southeastern Region)
  • Honam (Southwestern Region)
  • Hoseo (Central Region)
  • Others

Request for customization: https://www.imarcgroup.com/request?type=report&id=15954&flag=E

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

  • Abbott Korea Co. Ltd.
  • Arkray Inc.
  • Ascensia Diabetes Care Korea Ltd.
  • Dexcom Inc.

Key highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Strategic Recommendations
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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