canada-diabetes-devices-market
Published

OCT 2018

Canada Diabetes Devices Market - Growth, Trends, and Forecasts (2018 - 2023)

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The Canada diabetes devices market is expected to grow at a CAGR of 1.61% by 2023. The prevalence of diabetes is constantly increasing in Canada. Diabetes or diabetes mellitus, describes a group of metabolic diseases, in which the person has high blood glucose (blood sugar), either because of insulin production is inadequate or does not produce insulin, which is known as type-1 diabetes, or because the body's cells do not respond appropriately to insulin, which is called type-2 diabetes mellitus. Approximately 10% of all diabetes cases are type-1, and about 90% of all cases of diabetes worldwide are of type-2.

Rising Prevalence of Diabetes

 North America diabetes market size in 2017 was USD 13,221.65 million with an expected CAGR of 5.81% during the forecast period (2018-2023). The rising prevalence of diabetes in the United States is the most influencing factor driving the market for diabetes drugs in the region. In 2017, 7.4% of the population of the United States, i.e., 24.18 million are suffering from diabetes. With the increase in diabetes population, the need and demand for diabetes drugs are expected to increase in North America especially in the United States and Canada, where these countries signify higher percent of diabetes drugs sales. Canada holds a significant share in the growth of the diabetic population with 3.4 million diabetic patients, which comprise 10.2% of the whole Canada population.

The roll-out of many new drugs, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among the people are some of the market opportunities for the market players. The other factors, such as better adoption than other therapies and government initiatives are driving the diabetes drugs market.

The Canadian diabetes device market is broadly segmented based on the types into glucose monitoring device segment and the management device segment. The glucose monitoring device segment further segmented into blood glucose meter, blood glucose testing strip, lancet, and continuous glucose monitoring device (CGM). Based on insulin delivery devices, the market further segmented as syringes, pens, pumps, and injectors. The monitoring devices are mostly used by the insulin users who need to check their glucose levels time to time and need to adjust insulin doses accordingly.

Source: Mordor Intelligence

Key Players:

Abbott, Johnson & Johnson, Sanofi, Novo Nordisk, Eli Lilly, Animas Corporation, Becton Dickenson, Arkray, Ascensia Diabetes care, Agamatrix, Life Scan, Cellnovo Ltd., Insulet Corporation, Medtronics, Inc., Ypsomed, Roche, and Tandem Diabetes Care.

Key Developments:

September 2018: The t: slim X2 Insulin Pump is currently under review by Health Canada.

Report Scope:

Attribute

Details

The base year for estimation

2017

Review Period

2012-2017

Forecast Period

2018 – 2023

Market Representation

Revenue in USD million and CAGR from 2018 – 2023

Regions covered

Canada

Report coverage

Revenue, forecast, and market dynamics

Reasons to Purchase this Report:

  • To study current and future market outlook in Canada diabetes devices market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Detailed analysis of the segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identifying the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

Report Customization and Benefits:

This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.

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