north-america-glucose-monitoring-devices-market-industry
Published

November 2016

North America Glucose Monitoring Devices Market - Industry Analysis and Market Forecast 2016-2021

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North America’s glucose monitoring device market is forecast to reach USD 5.29 billion by 2021 at a CAGR of 3.23 %.

In North America alone, 37 million people are suffering from diabetes. Diabetes is a huge and growing problem, and its costs to the society are high and escalating. It is estimated that by 2035, 37.3% of the North American population will be suffering from diabetes. The majority of the 382 million people with diabetes are aged between 40 and 59, and 80% of these live in the low and middle-income countries.

Self-monitoring of blood glucose plays a significant role in diabetes management. The ill-effects of diabetes are seen not only in the increasing numbers of people with diabetes but also in the growing number of premature deaths due to it. In 2013, 65% of adults with diabetes aged over 18 years reported self-monitoring their blood glucose at least once a day. The average increase in glucose monitoring was 2.6% among persons aged 18-44 years. This, in turn, implies that glucose monitoring devices market will grow in the future.

North America Glucose Monitoring Devices Market- Market Dynamics

As life expectancy increases, the burden of infectious diseases decreases and this development drives rapid changes in lifestyles. It is the developing regions that are expected to see the greatest increase in the burden of diabetes. In light of this, the report details several factors driving and restraining the growth of the market. Some of these are listed below.

Drivers

  • Large patient pool suffering from diabetes
  • Increase in innovation technologies
  • More R&D in diabetes diagnosis and treatment
  • Increased preference for continuous glucose monitoring over conventional glucose monitoring
  •  Increasing awareness
  • Improving diagnosis and treatment rates
  • Growing need for faster, safer and effective methods of diagnosis and treatment of diabetes

Restraints

  • High cost associated with diagnosis and treatment
  • Reimbursement issues
  • Patent expiry

The North America glucose monitoring devices market is segmented by type into blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring device and by geography into the US, Canada, and Mexico.

Some of the key players in the market are:

  • Abbott Laboratories
  • Bionime Corporation
  • GlucoCom™
  • LifeScan
  • Nova Biomedical Corporation

What the Report Offers

  • Market definition for North America glucose monitoring device market with information on drivers and restraints.
  • Market Analysis involving glucose monitoring devices like blood glucose meters, blood glucose strips, lancets etc.
  • Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
  • Extensively researched competitive landscape with profiles of major companies along with their market share.
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
  •  In-depth market segmentation of the glucose monitoring devices (blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring device) in North America.
  •  A comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade.
  • Wide-ranging information provided about the leading market players, major strategies adopted by them and new products launched by them.
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