Market Size of North America Self-monitoring Blood Glucose Industry
| 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 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 | ||||
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| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Self-monitoring Blood Glucose Market Size Summary
The North America self-monitoring blood glucose market is poised for significant growth, driven by the increasing prevalence of diabetes and the rising awareness of diabetes care. The market is characterized by a substantial demand for blood glucose test strips, which constitute a major portion of the market due to their continuous use and necessity for regular monitoring. Technological advancements in test strips, such as those that do not require a meter, are contributing to market expansion, despite their lower accuracy compared to traditional methods. The market is further bolstered by the availability of reimbursement options for glucose meters, making them more accessible to consumers. This financial support is crucial as glucose meters require periodic replacement, while test strips represent a recurring cost.
The United States, in particular, is experiencing a surge in diabetes cases, largely attributed to obesity and lifestyle changes, positioning it as a key player in the North American market. The fragmented nature of the market sees a mix of global and local manufacturers, with major companies like Ascensia, Abbott, and LifeScan leading the charge. Recent mergers and acquisitions have strengthened market positions, with companies like Panasonic acquiring Bayer’s diabetes care unit. LifeScan's introduction of Bluetooth-connected devices and mobile apps highlights the integration of technology in diabetes management, offering users enhanced simplicity and accuracy in monitoring their condition. As the market evolves, the focus on advanced diabetes care products and the integration of digital solutions are expected to drive further adoption and growth.
North America Self-monitoring Blood Glucose Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Self-monitoring Blood Glucose Devices
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2.1.1 By Component
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2.1.1.1 Glucometer Devices
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2.1.1.2 Lancets
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2.2 Geography
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2.2.1 United States
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2.2.2 Canada
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2.2.3 Rest of North America
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North America Self-monitoring Blood Glucose Market Size 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.
