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Written by Mohit singh » Updated on: October 21st, 2024
South Korea Blood Glucose Monitoring Devices Market Overview
Market Statistics
Base Year: 2023
Market Size in 2023: USD 213.4 Million
Market Size in 2032: USD 482.13 Million
Market Growth Rate: 8.40% (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 8.40% during 2024-2032.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-blood-glucose-monitoring-devices-market/requestsample
South Korea Blood Glucose Monitoring Devices Industry Trends and Drivers:
The South Korean blood glucose monitoring devices market is experiencing significant growth, driven by various key factors. Firstly, the increasing prevalence of diabetes among the masses across the country is contributing to the market growth. People are facing these issues on account of sedentary lifestyles and unhealthy dietary habits. They are purchasing solutions like blood glucose monitoring devices to manage the condition effectively.
In addition, the growing demand for blood glucose monitoring devices among the geriatric population, as they are more susceptible to developing diabetes, is offering a favorable market outlook in South Korea. Besides this, governing agencies in the country are focusing on generating awareness about the importance of diabetes management, which is impelling the market growth. Initiatives by the Ministry of Health and Welfare and other public health bodies are encouraging more diabetic individuals to invest in personal monitoring devices.
Technological advancements in blood glucose monitoring devices are also playing a pivotal role. People in South Korea are preferring innovative and user-friendly technologies. Continuous glucose monitoring (CGM) systems benefit in offering real-time glucose readings without the need for frequent finger pricks. Mobile apps that sync with these devices provide seamless data tracking and health insights.
These apps often offer data analysis, trend tracking, and health insights, which can be shared with healthcare providers, helping to personalize treatment plans. Additionally, cloud-based systems enable real-time data sharing, which is particularly useful for those requiring constant monitoring, such as children and elderly individuals. Advancements in sensor technology are also leading to the development of non-invasive or minimally invasive (MI) glucose monitoring devices.
Lastly, the growing incidence of obesity, a major risk factor for diabetes, is strengthening the market growth. Modern lifestyles are leading to reduced physical activity, increasing the risk of obesity. As a result, South Koreans are adopting blood glucose monitoring devices as preventive tools to maintain their well-being.
South Korea Blood Glucose Monitoring Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest South Korea Blood Glucose Monitoring market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
The report has segmented the market into the following categories:
Type Insights:
Regional Insights:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
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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