Market Size of Canada Diabetes Care Devices Industry
Study Period | 2018 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Market Size (2024) | USD 1.93 Billion |
Market Size (2029) | USD 2.47 Billion |
CAGR (2024 - 2029) | 4.98 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Canada Diabetes Care Devices Market Analysis
The Canada Diabetes Care Devices Market size is estimated at USD 1.93 billion in 2024, and is expected to reach USD 2.47 billion by 2029, growing at a CAGR of 4.98% during the forecast period (2024-2029).
Canada has 107,861 cases of coronavirus disease 2019 (COVID-19) (286 per 1,00,000 individuals) and 8787 COVID-19-related fatalities as of July 13, 2020. In Canada, public health is overseen at the federal, provincial, and regional levels, and the Canadian constitution delegates healthcare authority to the country's ten provinces and three territories. As a result, similar to the United States, where individual states generally defined the COVID-19 response, Canadian provinces have mostly selected containment and mitigation plans. Provincial public health authorities collaborated closely with regional public health officers and municipal governments to develop policies and recommendations, as well as to put services like testing and contact tracing in place. Blood pressure regulation is a critical component of diabetes management. Furthermore, even in the absence of high blood pressure, certain blood pressure lowering medications are frequently recommended for people living with diabetes to protect them from kidney and heart-related complications. There is currently no scientific evidence linking these blood pressure drugs to the likelihood of COVID-19 infection or associated consequences.
In Canada, During the pandemic, many healthcare providers have adopted a hybrid model of care, offering certain types of visits in-person at the clinic and others virtually, by phone, video chat, or secure messaging. Virtual diabetes care may be a new and different experience for you. For tips on preparing for your diabetes visit and managing virtual appointments.
Canada Diabetes Care Devices Industry Segmentation
Diabetes care devices are the hardware, equipment, and software used by diabetes patients to regulate blood glucose levels, prevent diabetes complications, lessen the burden of diabetes, and enhance the quality of life. The Canada Diabetes Care Devices Market is segmented into management devices (insulin pumps, insulin syringes, disposable insulin pens, insulin cartridges in reusable pens, and insulin jet injectors) and monitoring devices (self-monitoring blood glucose (glucometer devices, test strips, and lancets) and continuous glucose monitoring (sensors and receivers (receivers and transmitters))). The report offers the value (in USD million) and volume (in units million) for the above segments.
Management Devices | |||||
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Insulin Syringes | |||||
Insulin Disposable Pens | |||||
Insulin Cartridges in Reusable pens | |||||
Insulin Jet Injectors |
Monitoring Devices | |||||
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Canada Diabetes Care Devices Market Size Summary
The Canada Diabetes Care Devices Market is poised for significant growth over the forecast period, driven by an increasing prevalence of diabetes and heightened awareness through government initiatives. The market is characterized by a diverse range of devices aimed at managing diabetes effectively, with a particular emphasis on self-monitoring blood glucose devices. These devices are gaining traction due to the growing preference for home-based self-monitoring and the recent introduction of advanced glucometers. The Canadian Diabetes Strategy, a collaborative effort involving various stakeholders, plays a crucial role in shaping effective diabetes prevention and control strategies, ensuring that resources are allocated to address the needs and gaps in diabetes care.
The market landscape is moderately fragmented, with key players such as Abbott, LifeScan, and F. Hoffmann-La Roche AG holding significant shares. These companies are actively engaging in strategic collaborations, partnerships, and product launches to enhance their market presence. Notable developments include Roche Diabetes Care Canada's collaboration with Ellerca Health to integrate digital self-management programs with glucose monitoring devices. Additionally, government initiatives, such as the Ontario government's coverage of the Dexcom G6 CGM System, are expanding access to advanced diabetes care technologies. These factors collectively contribute to the anticipated growth of the Canada Diabetes Care Devices Market, as they improve the management of diabetes and enhance the quality of life for individuals living with the condition.
Canada Diabetes Care Devices 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 Management Devices
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2.1.1 Insulin Pump
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2.1.1.1 Insulin Pump Device
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2.1.1.2 Insulin Pump Reservoir
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2.1.1.3 Infusion Set
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2.1.2 Insulin Syringes
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2.1.3 Insulin Disposable Pens
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2.1.4 Insulin Cartridges in Reusable pens
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2.1.5 Insulin Jet Injectors
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2.2 Monitoring Devices
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2.2.1 Self-monitoring Blood Glucose Devices
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2.2.1.1 Glucometer Devices
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2.2.1.2 Test Strips
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2.2.1.3 Lancets
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2.2.2 Continuous Glucose Monitoring
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2.2.2.1 Sensors
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2.2.2.2 Receivers (Receivers and Transmitters)
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Canada Diabetes Care Devices Market Size FAQs
How big is the Canada Diabetes Care Devices Market?
The Canada Diabetes Care Devices Market size is expected to reach USD 1.93 billion in 2024 and grow at a CAGR of 4.98% to reach USD 2.47 billion by 2029.
What is the current Canada Diabetes Care Devices Market size?
In 2024, the Canada Diabetes Care Devices Market size is expected to reach USD 1.93 billion.