Canada Continuous Glucose Monitoring Market Size (2024 - 2029)

The Canada Continuous Glucose Monitoring Market is projected to experience significant growth over the forecast period, driven by advancements in technology and the increasing need for effective diabetes management. The market's expansion is influenced by the rising demand for devices that provide real-time glucose monitoring and trend analysis, which are crucial for managing diabetes and preventing complications. Technological innovations in continuous glucose monitoring systems have enhanced their functionality, making them more effective for both patients and healthcare providers. This growth trajectory reflects the growing recognition of the importance of precise glucose monitoring in improving health outcomes for diabetes patients.

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Market Size of Canada Continuous Glucose Monitoring Industry

Canada Continuous Glucose Monitoring Market Summary
Study Period 2019- 2029
Base Year For Estimation 2023
Market Size (2024) USD 277.54 Million
Market Size (2029) USD 489.84 Million
CAGR (2024 - 2029) 12.03 %
Market Concentration High

Major Players

Canada Continuous Glucose Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

Canada Continuous Glucose Monitoring Market Analysis

The Canada Continuous Glucose Monitoring Market size is estimated at USD 277.54 million in 2024, and is expected to reach USD 489.84 million by 2029, growing at a CAGR of 12.03% during the forecast period (2024-2029).

According to Diabetes Canada, at the beginning of the COVID-19 pandemic, studies showed that diabetes was one of the major comorbidities associated with the development of severe COVID-19-related adverse outcomes and mortality. Adults living with diabetes who contracted COVID-19 were at higher risk of developing adult respiratory distress syndrome, pneumonia, excessive uncontrolled inflammation responses, and a hypercoagulable state. 

Early reports placed the odds of in-hospital death from COVID-19 to be 2.85 times higher in adults living with diabetes compared to patients without diabetes. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe, and improved inpatient glycemic outcomes played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients.

Appropriate and timely monitoring of blood glucose allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications. Continued elevation in blood glucose levels in diabetes patients can contribute to progressive complications such as renal, nerve, and ocular damage. The measurement of blood glucose helps in determining the effectiveness of blood glucose metabolism and guides in achieving optimal glucose control within the body. Over time, the readings provide the patient and their health professionals with the information required to determine the best management strategy for diabetes.

Furthermore, the current continuous glucose monitoring can either retrospectively display the trends in the levels of blood glucose by downloading the data or give a real-time picture of glucose levels through receiver displays. The newest CGM (continuous glucose monitoring) models, the Abbott Freestyle Libre 3, and the Dexcom G7, overcame many technical barriers. Technological advances such as Eversense E3 CGMs have significantly improved the ability of providers and patients to manage diabetes, thereby enhancing the market prospects in the years to come.

Canada Continuous Glucose Monitoring Industry Segmentation

Achieving optimum glycaemic results can be very difficult without frequent monitoring of blood glucose levels. A continuous glucose monitor tracks blood sugar levels 24 hours a day. It collects readings automatically every five to fifteen minutes and detects trends and patterns to provide a complete picture of diabetes. The Canada continuous glucose monitoring market is segmented into components (sensors and durables). The report offers the value (in USD) and volume (in units) for the above segments.

Component
Sensors
Durables
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Canada Continuous Glucose Monitoring Market Size Summary

The Canada continuous glucose monitoring market is poised for significant growth, driven by the increasing prevalence of diabetes and the advancements in monitoring technologies. Continuous glucose monitoring (CGM) devices, which provide real-time data on blood glucose levels, are becoming essential tools in managing diabetes effectively. These devices help in minimizing complications associated with uncontrolled blood sugar levels, such as renal, nerve, and ocular damage. The market is witnessing innovations with new models like the Abbott Freestyle Libre 3 and Dexcom G7, which have overcome previous technical challenges. These advancements are enhancing the ability of healthcare providers and patients to manage diabetes more effectively, thereby boosting market prospects.

The market is further supported by government initiatives and strategies aimed at diabetes prevention and control, such as the Canadian Diabetes Strategy and recommendations from the World Health Assembly. These efforts are increasing awareness and access to diabetes management technologies, including CGMs. The sensors segment, a crucial component of CGM devices, is expected to experience robust growth due to ongoing research into more accurate and user-friendly glucose sensing technologies. The market is characterized by a few key players, including Abbott, Dexcom, and Medtronic, who are actively investing in research and development to drive innovation and maintain their competitive edge.

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Canada Continuous Glucose Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Component

      1. 2.1.1 Sensors

      2. 2.1.2 Durables

Canada Continuous Glucose Monitoring Market Size FAQs

The Canada Continuous Glucose Monitoring Market size is expected to reach USD 277.54 million in 2024 and grow at a CAGR of 12.03% to reach USD 489.84 million by 2029.

In 2024, the Canada Continuous Glucose Monitoring Market size is expected to reach USD 277.54 million.

Canada Continuous Glucose Monitoring Market Report Snapshots

Canada Continuous Glucose Monitoring Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)