North America Self-monitoring Blood Glucose Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 8.10 Billion |
| Market Size (2029) | USD 11.35 Billion |
| CAGR (2024 - 2029) | 6.98 % |
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 size is estimated at USD 8.10 billion in 2024, and is expected to reach USD 11.35 billion by 2029, growing at a CAGR of 6.98% during the forecast period (2024-2029).
In North America diabetes incidence of type 2 diabetes as well as other diabetes, forms was 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 Market Trends
Blood Glucose Test Strips Held the Largest Market Share in Current Year
In the current year, 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, arconstantuous investment. Thus, it presents a considerable cost impact to the consumers.
Overall, the demand for blood glucose test strips will increase significantly over the forecast period. Development within 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.
Technological advances in the test strips segment are driving the market in the forecast period, for instance: Some test strips, not so commonly used these days, do not require a meter. When blood is placed on the active part of the strip and then wiped off after a specified number of seconds, the reagent will change color and the result can be obtained by matching the colour of against a colour chart on the side of the pot.
It is less accurate than using a blood glucose meter but the test strips can often be cheaper.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.
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, driven by the increased majority 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, a prominent cause of Type 2 diabetes. In the United States, the prevalence of diabetes has increased dramatically during the last two decades, driven by the increased majority 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, 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, which is costly. As a result, most people prefer health insurance plans that cover most of their total expenditure on healthcare devices. Such schemes cover 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 North American Self-Monitoring Blood Glucose Devices in the coming years.
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. In contrast, the remaining manufacturers are 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
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Ascensia
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Arkray
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Abbott
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F. Hoffmann-La Roche AG
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Platinum Equity (LifeScan)
*Disclaimer: Major Players sorted in no particular order
North America Self-monitoring Blood Glucose Market News
- May 2023: LifeScan announced positive data from a study of real-world evidence supporting its Bluetooth-connected blood glucose meter. Evidence from more than 55,000 people with diabetes demonstrated sustained improvements in readings in range. The analysis focuses on changes over 180 days. LifeScan published results in the peer-reviewed journal Diabetes Therapy. The company’s OneTouch Bluetooth-connected blood glucose meter and mobile diabetes app provide simplicity, accuracy, and trust.
- January 2023: LifeScan announced that the peer-reviewed Journal of Diabetes Science and Technology published Improved Glycemic Control Using a Bluetooth-Connected Blood Glucose Meter and a Mobile Diabetes App: Real-World Evidence from Over 144,000 People With Diabetes, detailing results from a retrospective analysis of real-world data from over 144,000 people with diabetes is one of the largest combined blood glucose meter and mobile diabetes app datasets ever published.
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
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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
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5.1 Self-monitoring Blood Glucose Devices
- 5.1.1 By Component
- 5.1.1.1 Glucometer Devices
- 5.1.1.2 Lancets
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5.2 Geography
- 5.2.1 United States
- 5.2.2 Canada
- 5.2.3 Rest of North America
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes Population
- 6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
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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
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Self-monitoring Blood Glucose Industry Segmentation
Self-monitoring of blood glucose (SMBG) is a method by which people with diabetes check their blood sugar levels (glycemia) with a glycemic reader (glucose meter). They can modify their treatment or assess its effectiveness based on the reading (diet, exercise, insulin, antidiabetics, stress management). North America's self-monitoring blood glucose market witnessed USD 10.7 billion in the current year and is anticipated to register a cagr of over 5% during the forecast period. North America's self-monitoring blood glucose market is segmented by components (glucometer devices, test strips, and lancets) and geography. The report offers the value (in USD) and volume (in units) for the above segments.
| Self-monitoring Blood Glucose Devices | By Component | Glucometer Devices |
| Lancets | ||
| Geography | United States | |
| Canada | ||
| Rest of North America |
North America Self-monitoring Blood Glucose Market Research FAQs
How big is the North America Self-monitoring Blood Glucose Market?
The North America Self-monitoring Blood Glucose Market size is expected to reach USD 8.10 billion in 2024 and grow at a CAGR of 6.98% to reach USD 11.35 billion by 2029.
What is the current North America Self-monitoring Blood Glucose Market size?
In 2024, the North America Self-monitoring Blood Glucose Market size is expected to reach USD 8.10 billion.
Who are the key players in North America Self-monitoring Blood Glucose Market?
Ascensia, Arkray, Abbott, F. Hoffmann-La Roche AG and Platinum Equity (LifeScan) are the major companies operating in the North America Self-monitoring Blood Glucose Market.
What years does this North America Self-monitoring Blood Glucose Market cover, and what was the market size in 2023?
In 2023, the North America Self-monitoring Blood Glucose Market size was estimated at USD 7.53 billion. The report covers the North America Self-monitoring Blood Glucose Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Self-monitoring Blood Glucose Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Self-monitoring Blood Glucose Industry Report
Statistics for the 2024 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 for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
