The market of glucose monitoring devices is on continuous rise in North America. The glucose monitoring devices market is expected to reach USD XXmillion by 2022 from USD XX million in 2016, at a CAGR of XX%. In last one decade, a large number of diabetes patients’ cases being recorded worldwide. 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 rapid increase in diabetes has shown a steady growth in the overall blood glucose monitoring market. 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.
With high support for the growth of this market, there are several factors limiting the growth of this industry in particular such as high cost of diagnosis and treatment especially in the emerging market and reimbursements issues. The American Diabetes Association (ADA) and the International Society for Pediatric and Adolescent Diabetes (ISPAD) do not offer specific recommendations self-monitoring and continuous monitoring of glucose levels. All the insurance companies do not cover the continuous monitoring devices. The need for traditional technology of fingerstick blood glucose has not been eliminated completely because they are used for calibration and taking corrective actions.
The market is segmented based on self-monitoring devices and continuous monitoring devices. Self-monitoring devices are further segmented into blood glucose meters, blood glucose strips, lancets, and others. The glucose monitoring strip market has the largest market size. However, recent technological innovations have seen the growth of the continuous glucose monitoring (CGM) devices. It is segmented into sensors, transmitters and activators, insulin pumps and others. The sensors, owing to their small life cycle, have the highest demand and also account for the highest market share. These both segments find their applications in hospitals, diagnostics, home settings and others. Regionally, the market has been segmented into the United States, Canada and Mexico.
Some of the key players in this market include –
Abbott Laboratories, Lifescan Inc, F. Hoffmann-La Roche Ag, Arkay Inc, Bionime Corporation, Healthpia Co Ltd, Inlight Solutions Inc, Nova Biomedical Corporation, Agamatrix Inc, Acon Laboratories Inc and Others
Market analysis for the market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the North America Glucose Monitoring Devices Market. Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.