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The Canada Diabetes Care Devices Market is expected to reach more than USD 2.1 billion by 2026, at a CAGR of 6.3% during the forecast period (2021 - 2026). Monitoring devices are anticipated to dominate the market during the forecast period, owing to the rising prevalence of diabetes and an increase in the number of device users in the country. There has been a significant rise in insulin delivery systems technology, from insulin injections to insulin pumps. Technological innovations and advances give many conveniences in measuring blood glucose levels. One such advancement in monitoring blood glucose levels has been established with continuous glucose monitoring devices. Therefore, the number of diabetic patients is expected to increase in the future. There is also a concern that diabetes might affect the youth, due to the sedentary lifestyle. This factor is expected to boost the adoption of continuous glucose monitoring devices. This factor, in turn, is expected to drive the growth of the market.
Scope of the Report
In the Canada diabetes care devices market, the market studied is segmented into management and monitoring devices. The monitoring devices segment is further sub-segmented into blood glucose monitoring and continuous glucose monitoring. Similarly, the management devices segment is further sub-segmented into Insulin Pumps, Insulin Syringes, Insulin Disposable Pens, Insulin Cartridges in Reusable Pens, Insulin Jet Injectors. A holistic study of the market studied has been carried out by incorporating various factors, extending from country-specific demographic conditions and business cycles to market-specific microeconomic influences, which are required to analyze the future trends.
Key Market Trends
Test strips occupy the highest market share among the Monitoring devices for the year 2020
In Canada, the type-1 diabetes population is expected to witness a CAGR of 1.5%, by 2026. The users of glucometers will increase as type-1 diabetes patients will increase. It is estimated that in 2026 there will be 340 thousand people suffering from type-1 diabetes. Home use of test strip is also increasing because of initiatives of provincial governments across Canada. They have implemented the blood glucose test strip (BGTS) quantity limits to encourage proper testing practices for optimal patient outcomes. In Alberta, insulin-dependent patients are eligible for coverage of a USD 600 in a year, other regions also have reimbursement policies. Therefore, if a patient performs 5-6 tests in a day, the average expenditure on test strips would be more than USD 100/month. These expenses add to the already high diabetes management costs and are impeding the market growth. the growth in market volume and share of strips is expected to be higher than that of glucose meters, because of the difference in use-case frequency. Furthermore, the average life-span of glucose meter ranges between 6 months to 3 years.
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Insulin Pumps Occupy the Highest Share in the Management Devices Segment
The use of Insulin pumps is rising among developed countries. These are the devices that mimic the human pancreas, i.e., there would be continuous subcutaneous insulin administration in small amounts. Insulin pumps deliver rapid- or short-acting insulin 24 hours a day through a catheter placed under the skin. The insulin pump usage among Canadian patients increased due to the accurate dosage of administration and patients who are not able to meet the insulin requirements accurately. Thus, the CAGR growth is expected to be more than 4.83% during the forecast period for insulin pumps in the Canada diabetes care devices market. The technological advancements in the infusion set of the insulin pump, like concealing the needle of the infusion set and the pre-loaded, disposable, and single-use inserter that enables the patients to change infusion sets without carrying a separate inserter, are likely to drive the market. Diabetes Canada and the Canadian Pharmacists Association (CPhA) are actively monitoring coronavirus issues, in collaboration with the Canadian local government and diabetes devices manufacturers, to remain available for all Canadians, and stated that “based on the information from device manufacturers, there have been no COVID-19 related shortages reported in Canada”.
There have been constant innovations driven by manufacturers to compete in the market. The major players, such as Abbott and Medtronic, have undergone many mergers, acquisitions, and partnerships, to establish market dominance, while also adhering to organic growth strategies, which is evident from the R&D spending of these companies.
In Dec 2020, Abbott’s continuous glucose monitoring system, the FreeStyle Libre 2, has been approved in Canada for adults and children four years and older with diabetes.
In Nov 2020, Tandem Diabetes Care Announces Health Canada Approval of the t: slim X2 Insulin Pump with Control-IQ Advanced Hybrid Closed-Loop Technology.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Intensity of Competitive Rivalry
5. Market Segmentation
5.1 By Device
5.1.1 By Monitoring Devices, (Value and Volume, 2016 - 2026)
188.8.131.52 Self-monitoring Blood Glucose Devices
184.108.40.206.1 Glucometer Devices
220.127.116.11.2 Test Strips
18.104.22.168 Continuous Glucose Monitoring
22.214.171.124.2 Receivers (Receivers and Transmitters)
5.1.2 By Management Devices, (Value and Volume, 2016 - 2026)
126.96.36.199 Insulin Delivery Devices
188.8.131.52.1 Insulin Pump
184.108.40.206.1.1 Insulin Pump Device
220.127.116.11.1.2 Insulin Pump Reservoir
18.104.22.168.1.3 Infusion Set
22.214.171.124.2 Insulin Syringes
126.96.36.199.3 Insulin Disposable Pens
188.8.131.52.4 Insulin Cartridges in Reusable pens
184.108.40.206.5 Insulin Jet Injectors
5.2 By Drug
5.2.1 Oral Anti-diabetic drugs (Value and Volume 2016 - 2026)
220.127.116.11 Alpha-glucosidase Inhibitors
18.104.22.168 Dopamine -D2 Receptor Agonist
22.214.171.124.1 Cycloset (Bromocriptin)
126.96.36.199 Sodium-glucose Cotransport -2 (SGLT-2) Inhibitors
188.8.131.52.1 Invokana (Canagliflozin)
184.108.40.206.2 Jardiance (Empagliflozin)
220.127.116.11.3 Farxiga/Forxiga (Dapagliflozin)
18.104.22.168.4 Suglat (Ipragliflozin)
22.214.171.124 Dipeptidyl Peptidase-4 (DPP-4) Inhibitors
126.96.36.199.1 Januvia (Sitagliptin)
188.8.131.52.2 Onglyza (Saxagliptin)
184.108.40.206.3 Tradjenta (Linagliptin)
220.127.116.11.4 Vipidia/Nesina (Alogliptin)
18.104.22.168.5 Galvus (Vildagliptin)
5.2.2 Insulin (Value and Volume 2016 - 2026)
22.214.171.124 Basal or Long-acting Insulin
126.96.36.199.1 Lantus (Insulin Glargine)
188.8.131.52.2 Levemir (Insulin Detemir)
184.108.40.206.3 Toujeo (Insulin Glargine)
220.127.116.11.4 Tresiba (Insulin Degludec)
18.104.22.168.5 Basaglar (Insulin Glargine)
22.214.171.124 Bolus or Fast-acting Insulin
126.96.36.199.1 NovoRapid/Novolog (Insulin Aspart)
188.8.131.52.2 Humalog (Insulin Lispro)
184.108.40.206.3 Apidra (Insulin Glulisine)
220.127.116.11 Traditional Human Insulin
18.104.22.168 Biosimilar Insulin
22.214.171.124.1 Insulin Glargine Biosimilars
126.96.36.199.2 Human Insulin Biosimilars
5.2.3 Non-insulin Injectable Drug (Value and Volume 2016 - 2026)
188.8.131.52 GLP-1 Receptor Agonists
184.108.40.206.1 Victoza (Liraglutide)
220.127.116.11.2 Byetta (Exenatide)
18.104.22.168.3 Bydureon (Exenatide)
22.214.171.124.4 Trulicity (Dulaglutide)
126.96.36.199.5 Lyxumia (Lixisenatide)
188.8.131.52 Amylin Analogue
184.108.40.206.1 Symlin (Pramlintide)
5.2.4 Combination Drug
220.127.116.11 Combination Insulin
18.104.22.168.1 NovoMix (Biphasic Insulin Aspart)
22.214.171.124.2 Ryzodeg (Insulin Degludec and Insulin Aspart)
126.96.36.199.3 Xultophy (Insulin Degludec and Liraglutide)
188.8.131.52 Oral Combination
184.108.40.206.1 Janumet (Sitagliptin and Metformin HCl)
6. MARKET INDICATORS
6.1 Type 1 Diabetes Population (2016 - 2026)
6.2 Type 2 Diabetes Population (2016 - 2026)
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Novo Nordisk A/S
7.1.2 Sanofi Aventis
7.1.3 Eli Lilly
7.1.4 F. Hoffmann-La Roche Ltd
7.1.5 Abbott Diabetes Care
7.1.6 Johnson and Johnson (Lifescan)
7.1.8 Ascensia Diabetes Care
7.1.9 AgaMatrix Inc.
7.1.12 Ypsomed Holding AG
7.1.14 LMC Diabetes and Endocrinology
7.1.15 Bayshore Health Care
7.1.16 Express Scripts
7.1.17 One Drop
7.1.18 TELUS Health
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Canada Diabetes Care Devices Market market is studied from 2016 - 2026.
What is the growth rate of Canada Diabetes Care Devices Market?
The Canada Diabetes Care Devices Market is growing at a CAGR of >6% over the next 5 years.
What is Canada Diabetes Care Devices Market size in 2016?
The Canada Diabetes Care Devices Market is valued at 1 Billion USD in 2016.
What is Canada Diabetes Care Devices Market size in 2026?
The Canada Diabetes Care Devices Market is valued at 2 Billion USD in 2026.
Who are the key players in Canada Diabetes Care Devices Market?
Dexcom, Medtronic, Novo Nordisk A/S, F. Hoffmann-La Roche AG, Abbott Diabetes Care are the major companies operating in Canada Diabetes Care Devices Market.