Canada Self-Monitoring Blood Glucose Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 391.84 Million |
| Market Size (2029) | USD 542.16 Million |
| CAGR (2024 - 2029) | 6.71 % |
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 Self-Monitoring Blood Glucose Market Analysis
The Canada Self-Monitoring Blood Glucose Market size is estimated at USD 391.84 million in 2024, and is expected to reach USD 542.16 million by 2029, growing at a CAGR of 6.71% during the forecast period (2024-2029).
Diabetes Canada 2021 says that since the start of the COVID-19 pandemic, studies showed that diabetes was one of the major comorbidities linked to severe COVID-19-related negative outcomes and death.When adults with diabetes got COVID-19, they were more likely to get adult respiratory distress syndrome, pneumonia, excessive, out-of-control inflammatory responses, and a state called "hypercoagulable."Early reports placed the odds of in-hospital death from COVID-19 at 2.85 times higher in adults living with diabetes compared to patients without diabetes. Experts say that inpatient use of diabetes technology in patients who followed the institution's rules was safe, improved inpatient glycemic outcomes, and was a key part of managing hypoglycemia and hyperglycemia in hospitalized patients.
Blood glucose monitoring increases patients' awareness of glucose values, which supports healthy lifestyle choices. Blood Glucose Monitoring values help in providing feedback and guidance on how to make health behavior changes when needed. Continued elevation in blood glucose levels in diabetes patients can contribute to progressive complications such as renal, nerve, and ocular damage. Appropriate and timely monitoring of blood glucose allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications.
Innovative technologies, such as digital health apps that show and summarize each person's blood glucose readings and add other relevant data like insulin doses, meals or snacks, and physical activity, can help people better manage their own diabetes while reducing the burden of the disease and improving care overall. Integration of Blood Glucose Monitoring with insulin calculators, automated insulin titration software, and remote coaching are all new developments that give patients with poorly controlled diabetes the extra help they need to improve critical outcomes, which will improve the market prospects in the years to come.
Canada Self-Monitoring Blood Glucose Market Trends
Rising Diabetes Prevalence in Canada
In the current year, according to Diabetes Canada, more than 5.7 million Canadians are living with diagnosed diabetes (type 1 or type 2 diabetes); however, 11.7 million Canadians are living with diabetes or prediabetes, a condition that, if left unmanaged, can develop into type 2 diabetes. Diabetes is also costing the healthcare system USD 30 billion per year to treat people with diabetes.
Monitoring blood glucose levels is a good addition to other ways to measure glycemia, such as the A1C. It is the optimal way to confirm and appropriately treat hypoglycemia. It can provide feedback on the results of healthy behavior interventions and antihyperglycemic pharmacological treatments. It can increase one's empowerment and adherence to treatment. It can also provide information to both the person with diabetes and their diabetes healthcare team to facilitate longer-term treatment modifications and titrations as well as shorter-term treatment decisions, such as insulin dosing for people with type 1 or type 2 diabetes. In situations where A1C does not accurately reflect glycemia, monitoring blood glucose is necessary to adequately monitor glycemia.
Monitoring blood glucose works best when it's part of an education program that teaches people with diabetes how to change their behavior for the better based on their blood glucose levels and teaches healthcare providers how to change antihyperglycemic drugs based on blood glucose readings. As part of this education, people with diabetes should learn how and when to self-monitor, how to keep track of their results in an organized way, what different blood glucose levels mean, and how their actions and behaviors affect their blood glucose results.
The Canadian Diabetes Strategy (CDS) is a national partnership that includes the provinces and territories, many national health organizations and interest groups, and Aboriginal communities across the country. The goal of the CDS is to come up with and set up effective ways for Canada to prevent and control diabetes. With all of its partners' knowledge and experience at its disposal, the CDS is in a good position to figure out where the needs and gaps are and make sure that resources are put where they are needed.
Because of this, it is expected that the studied market will grow over the period of the analysis. This is because the problem is becoming more common and more people are learning about it thanks to government initiatives.
The Glucometer Devices Segment is expected to witness the highest CAGR over the forecast period
The glucometers segment is expected to have the highest CAGR of about 7.1% in the market over the next few years. This is because glucometers are being used more and more in home care settings, people are becoming more interested in self-monitoring at home, and new, more advanced glucometers have just come out.
Glucose monitoring gives people living with diabetes a more complete picture of their blood sugar levels, which can influence short- and long-term treatment decisions and improve health outcomes. It lets them and their doctors figure out the glycemic status and any negative effects, as well as how well glucose-lowering therapies work.Glucose monitoring could help people with diabetes better control their blood sugar and improve their quality of life. This could lead to physical, social, emotional, and functional benefits.
Capillary blood glucose monitoring or self-monitoring of blood glucose is one way for people living with diabetes to measure and assess their glucose levels. It uses a drop of blood from a finger prick to get a blood glucose reading using a blood glucose meter, or glucometer. People with diabetes should talk to their care team about how often and how they should be tested.In Canada, CBG test strips cost, on average, $0.79 each. Reimbursement from the government for test strips is provided through provincial drug plans and is based on the prescribed course of treatment, age, and income.
The market players are adopting various strategies, such as collaborations, partnerships, mergers, acquisitions, and expansions, to increase their market share. For instance, in May 2021, Roche Diabetes Care Canada announced a collaboration with Ellerca Health, a Toronto-based company dedicated to improving patient care through innovation and technology. The partnership included 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.
Thus, owing to the above-mentioned factors, it is expected to drive the segment's growth over the forecast period.
Canada Self-Monitoring Blood Glucose Industry Overview
The Canadian self-monitoring blood glucose market is moderately fragmented, with a few significant and other generic players. Manufacturers like Abbott, LifeScan, F. Hoffmann-La Roche AG, and Ascensia occupy a major share.
Canada Self-Monitoring Blood Glucose Market Leaders
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Abbott Diabetes Care
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Roche Diabetes Care
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Ascensia Diabetes Care
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LifeScan, Inc.
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Arkray, Inc.
*Disclaimer: Major Players sorted in no particular order
Canada Self-Monitoring Blood Glucose Market News
- 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-one of the largest combined blood glucose meter and mobile diabetes app datasets ever published.
- January 20, 2022: Roche launched its new point-of-care blood glucose monitor designed for hospital professionals with a companion device shaped like a touchscreen smartphone that will run its own apps. The hand-held COBAS Pulse includes an automated glucose test strip reader as well as a camera and touchscreen for logging other diagnostic results. It's designed to be used with patients of all ages, including neonates and people in intensive care.
Canada 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 Component (Value and Volume, 2017 - 2028)
5.1.1 Glucometer Devices
5.1.2 Test Strips
5.1.3 Lancets
6. MARKET INDICATORS
6.1 Type-1 Diabetes population (2017 - 2028)
6.2 Type-2 Diabetes population (2017 - 2028)
7. COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Abbott Diabetes Care
7.1.2 Roche Holding AG
7.1.3 LifeScan
7.1.4 Trividia Health
7.1.5 Ascensia Diabetes Care
7.1.6 Acon Laboratories Inc.
7.1.7 Agamatrix Inc.
7.1.8 Bionime Corporation
7.1.9 Rossmax International Ltd.
7.1.10 Arkray Inc.
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
7.2.1 Abbott Diabetes Care
7.2.2 Roche Holding AG
7.2.3 LifeScan
7.2.4 Other Company Share Analyses
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Canada Self-Monitoring Blood Glucose Industry Segmentation
Diabetic patients can measure their own blood sugar levels using a glucometer, test strips, and lancets by self-monitoring their blood glucose. Based on the readings, patients can adjust or check the effect of their treatment. The Canadian self-monitoring blood glucose market is segmented into components (glucometer devices, test strips, and lancets). The report offers the value (in USD million) and volume (in million units) for the above segments.
| Component (Value and Volume, 2017 - 2028) | |
| Glucometer Devices | |
| Test Strips | |
| Lancets |
Canada Self-Monitoring Blood Glucose Market Research FAQs
How big is the Canada Self-Monitoring Blood Glucose Market?
The Canada Self-Monitoring Blood Glucose Market size is expected to reach USD 391.84 million in 2024 and grow at a CAGR of 6.71% to reach USD 542.16 million by 2029.
What is the current Canada Self-Monitoring Blood Glucose Market size?
In 2024, the Canada Self-Monitoring Blood Glucose Market size is expected to reach USD 391.84 million.
Who are the key players in Canada Self-Monitoring Blood Glucose Market?
Abbott Diabetes Care, Roche Diabetes Care, Ascensia Diabetes Care, LifeScan, Inc. and Arkray, Inc. are the major companies operating in the Canada Self-Monitoring Blood Glucose Market.
What years does this Canada Self-Monitoring Blood Glucose Market cover, and what was the market size in 2023?
In 2023, the Canada Self-Monitoring Blood Glucose Market size was estimated at USD 367.20 million. The report covers the Canada Self-Monitoring Blood Glucose Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Self-Monitoring Blood Glucose Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Self-Monitoring Blood Glucose Industry Report
Statistics for the 2024 Canada Self-Monitoring Blood Glucose market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Canada Self-Monitoring Blood Glucose analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
