Market Research Report
North America Blood Glucose Monitoring Market - Growth, Trends, and Forecast (2012 - 2024)
|Published by||Mordor Intelligence LLP||Product code||808265|
|Published||Content info||75 Pages
Delivery time: 2-3 business days
|North America Blood Glucose Monitoring Market - Growth, Trends, and Forecast (2012 - 2024)|
|Published: February 1, 2019||Content info: 75 Pages||
The countries in the North American region show a high prevalence of diabetes. According to WHO in 2015, approximately 1.6 million deaths were attributed directly to diabetes on a global scale.
Approximately 2.2 million deaths were caused due to high blood glucose in 2012. According to the ADA (American Diabetes Association), the total assessed cost for diagnosed diabetes in 2017 was USD 327 billion, which is inclusive of USD 237 billion in direct medical costs and USD 90 billion in augmented productivity.
For the cost categories analyzed, care for people with diagnosed diabetes adds up to USD 1 in every USD 4 spent for healthcare in the United States, and more than 50% of that expenditure is directly accountable to diabetes.
The self-monitoring blood glucose systems market has increased more because diabetic people have to test their glucose levels throughout the day.
As studied in several clinical trials, diabetic patients with T1DM have been shown to have better glycemic control, in comparison to when glucometer was used for routine self-monitoring blood glucose.
The North American blood glucose monitoring market has been segmented into glucometer devices, test strips, and lancets. The glucometer devices segment is further segmented into hospital use and home use. North America BGM report also covers the Continuous glucose monitoring market, and it is segmented into the receiver and sensor. In the report, North America is segmented into the United States, Canada, and Rest of North America.
Key Market Trends - The Blood Glucose Test Strips Revenue Consists of up to 83% Share in the Self-monitoring Blood Glucose Market
Type 1 diabetic patients should test their blood glucose at least three times a day, based on which the administered insulin dosages alter accordingly.
The test strip is a one-time use entity, and therefore, the volume of the test strip sold per year is high, as compared to the self-blood glucose meter.
The test strip market held 83.3% of the self-blood glucose monitoring market in 2018.
CGM proves to be an instrumental tool for patients relying on insulin pumps or multiple daily injections (MDI) therapy, as it helps in the improvement of glycemic balance without aggregating the danger for severe hypoglycemia.
The United States Leads the Blood Glucose Monitoring Market
In 2018, the United States held the largest share in the blood glucose monitoring market, due to the large patient pool and broader acceptance of advanced technologies. The Increase in the blood glucose monitoring market is due to the rise in diabetes population in all age groups.
The market value in the United States is expected to cross USD 11 billion by 2024. Diabetes-related complications are mostly due to poor glucose control.
In the United States, the BGM Market is expected to record an approximate CAGR of 13% till 2024. Glucometers are now portable and accurate to use.
Also, other factors, such as technological innovations and advances, give much convenience in measuring blood glucose levels. One such advancement is in monitoring the blood glucose levels established with continuous glucose monitoring devices.
The North American blood glucose monitoring market was dominated by few major players in 2018, like Dexcom, Abbott, and Medtronic. It is expected that a new player may enter the market during the forecast period. In the United States, Dexcom holds more than 65% of the market.