North America Self-Monitoring Blood Glucose Market Size
| Study Period: | 2018 - 2028 |
| CAGR: | > 7 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Self-Monitoring Blood Glucose Market Analysis
The North America Self-monitoring Blood Glucose Market is expected to register a CAGR greater than 7% over the forecast period, 2022-2027.
In North America diabetes incidence for type 2 diabetes as well as other diabetes, forms were numerically higher in individuals with Covid-19. Insulin resistance and impaired insulin secretion have been described in individuals without diabetes history who recovered from SARS-CoV-2 infections. It has been suggested that diagnosis and treatment of post-Covid syndrome require integrated rather than disease-specific approaches.
There has been a tremendous increase in the diabetic population worldwide, over the past decade. Several reports and surveys documented a drastic increase in the diabetic population, based on the changes in lifestyles and habits. The growing diabetic population acts as a driver for Blood monitoring devices, such as SMBG. In developed countries, close to 90% of Type-1 diabetic patients use a glucometer. During the forecast period, close to 50% of Type-2 patients are expected to use a glucometer.
North America dominates the global insulin therapeutics market, owing to the high prevalence of diabetes in the region because of the sedentary lifestyle and the launch of new drugs in the region. The United States is expected to grow tremendously during the forecast period, owing to factors, such as the high prevalence of obesity and increasing awareness regarding diabetes care in the region
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
North America Self-Monitoring Blood Glucose Industry Segmentation
The North America Self-monitoring Blood Glucose Market is expected to register a CAGR greater than 7% over the forecast period. The North America Self-monitoring Blood Glucose Market is segmented by Component (Glucometer Devices, Test Strips, Lancets), and Geography. The report offers market size and forecasts for all the above segments in value (USD billion), and volume.
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North America Self-Monitoring Blood Glucose Market Trends
This section covers the major market trends shaping the North America Self-Monitoring Blood Glucose Market according to our research experts:
Blood Glucose Test Strips Held the Largest Market Share in 2021
In 2021, Blood glucose test strips accounted for about 82% of the North America SMBG market. The glucometer is a one-time purchase. The Glucometer is a one-time purchase. However, test strips, on the other hand, are a continuous investment, as a test strip needs to be disposed of after one use. However, test strips, on the other hand, are a continuous investment. Thus, it presents a considerable cost impact to the consumers. Overall, the demand for blood glucose test strips is projected to witness significant growth over the forecast period. The growth of the market studied is expected to be spurred by the rising diabetic population. While an average glucose meter lasts anywhere between six months and three years, presenting a one-time cost, during the same time frame, the corresponding use of multiple (in the range of thousands) test strips may occur, causing a recurrent cost impact.
The COVID-19 pandemic highlights the need for excellent glycemic management in diabetic patients, in part because most observational studies have found that poorly managed diabetes is related to an increased risk of hospitalization and mortality from a viral disease. Diabetes mellitus has sparked widespread concern due to its increasing global incidence, which has resulted in rising cost burdens for health systems, people, and governments. To expand market share, industry players are employing different methods such as collaborations, partnerships, mergers, acquisitions, and expansions.
The rise in national awareness of diabetes is anticipated to drive the adoption of both SMBGs and CGMs on account of the prognostic and diagnostic treatment of diabetes.
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The United States is Expected to Dominate the North America Self-monitoring Blood Glucose Market.
In the United States, the prevalence of diabetes has increased dramatically during the last two decades, a fact driven by the increased prevalence of obesity and lifestyle changes. Diabetes ranks among the fast-growing chronic diseases in the United States. About 1.75 million US citizens are diagnosed with diabetes every year. The country also has the highest obese population, which is a prominent cause of Type 2 diabetes.
The self-monitoring blood glucose devices are garnering widespread adoption, due to the availability of reimbursement options for glucose meters. Glucose meter devices must be replaced within six to eight months, and they are very expensive. As a result, most people prefer health insurance plans that cover most of their total expenditure on healthcare devices. Such schemes are covering the costs of diabetes testing supplies, test strips, and blood glucose meters. For example, Medicare, the federal health insurance program in the United States, covers approximately 80% of the cost of BGM devices for diabetic people.
The growing awareness among people, regarding advanced diabetes care products, may positively impact the North American Self-Monitoring Blood Glucose Devices in the coming years.
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North America Self-Monitoring Blood Glucose Industry Overview
The North America self-monitoring blood glucose market is fragmented, with a few major manufacturers having a global market presence, while the remaining manufacturers confined to local or region-specific manufacturers. Mergers and acquisitions that occurred between the players in the recent past have helped companies strengthen their market presence. Panasonic acquired Bayer’s diabetes care unit and named it Ascensia diabetes care, which continued its operations in North America.
North America Self-Monitoring Blood Glucose Market Leaders
Ascensia
Arkray
Abbott
F. Hoffmann-La Roche AG
Platinum Equity (LifeScan)
*Disclaimer: Major Players sorted in no particular order
North America Self-Monitoring Blood Glucose Market News
- In June 2022, LifeScan announced that the peer-reviewed journal Diabetes Technology and Therapeutics (DTT) has published Real World Evidence of Improved Glycemic Control in People with Diabetes using a Bluetooth-connected Blood Glucose Meter with Mobile Diabetes Management Application using the OneTouch Reveal mobile app with the OneTouch Verio Reflect meter synced via Bluetooth wireless technology – could support improved glycemic control for people with diabetes.
- In May 2021, Roche Diabetes Care Canada announces a collaboration with Ellerca Health, a Toronto-based company dedicated to improving patient care through innovation and technology. The partnership will include the launch of Accu-Chek and 360Care, combining Roche's Accu-Chek Guide blood glucose meter, customized home delivery of testing strips, and Ellerca's self-management digital program, 360Care, which empowers patients to be in control of their treatment schedule with access to a team of health coaches.
North America Self-Monitoring Blood Glucose Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Self-monitoring Blood Glucose Devices
5.1.1 By Component (Value and Volume, 2016 -2027)
5.1.1.1 Glucometer Devices
5.1.1.2 Test Strips
5.1.1.3 Lancets
5.2 Geography
5.2.1 United States (Value and Volume, 2016 -2027)
5.2.1.1 By Component (Glucometer Device, Test strips, Lancets)
5.2.2 Canada (Value and Volume, 2016 -2027)
5.2.2.1 By Component (Glucometer Device, Test strips, Lancets)
5.2.3 Rest of North America (Value and Volume, 2016 -2027)
5.2.3.1 By Component (Glucometer Device, Test strips, Lancets)
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population ( 2016 -2027)
6.2 Type-2 Diabetes Population ( 2016 -2027)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott
7.1.2 F. Hoffmann-La Roche AG
7.1.3 Platinum Equity (LifeScan)
7.1.4 Arkray
7.1.5 Ascensia
7.1.6 Agamatrix Inc.
7.1.7 Bionime Corporation
7.1.8 Acon
7.1.9 Medisana
7.1.10 Trivida
7.1.11 Rossmax
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Self-Monitoring Blood Glucose Market Research FAQs
What is the study period of this market?
The North America Self-monitoring Blood Glucose Market is studied from 2018 - 2028.
What is the growth rate of North America Self-monitoring Blood Glucose Market?
The North America Self-monitoring Blood Glucose Market is growing at a CAGR of >7% over the next 5 years.
What is North America Self-monitoring Blood Glucose Market size in 2018?
The North America Self-monitoring Blood Glucose Market is valued at 6 Billion USD in 2018.
What is North America Self-monitoring Blood Glucose Market size in 2028?
The North America Self-monitoring Blood Glucose Market is valued at 10 Billion USD in 2028.
Who are the key players in North America Self-monitoring Blood Glucose Market?
Ascensia, Arkray, Abbott, F. Hoffmann-La Roche AG, Platinum Equity (LifeScan) are the major companies operating in North America Self-monitoring Blood Glucose Market.
North America Self-monitoring Blood Glucose Industry Report
Statistics for the 2023 North America Self-monitoring Blood Glucose market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Self-monitoring Blood Glucose analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
