North America Self-Monitoring Blood Glucose Devices Market size exceeded USD 7,133.6 million in 2020 and is anticipated to expand at a CAGR of 9.6% from 2021 to 2027. Increasing healthcare expenditure associated with diabetes in the region will contribute to market expansion.
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Growing prevalence of diabetes in North America will boost the usage of self-monitoring blood glucose devices due to need of routine blood glucose monitoring. According to the data published by the Centers for Disease Control and Prevention, in 2020, one among three people had prediabetes and 34.2 million Americans had diabetes. In addition, increasing consumption of carbohydrate-rich food coupled with prevalence of obesity will further contribute to disease burden, thereby stimulating the demand for SMBG devices. Also, geriatric population is prone to diabetes that further increases the market demand.
COVID-19 pandemic has positively impacted the SMBG devices market. Diabetic people are more likely to suffer from the COVID-19. In addition, the pandemic has prompted a boom in the use of self-monitoring blood glucose monitors in home settings, reducing the number of visits to healthcare settings.
North America Market, By Product
Continuous glucose monitors segment held more than 10% market share in 2020. Continuous glucose monitors are one of the recent technological advancements in diabetes management. Rising awareness regarding diabetes preventive care has led to high adoption of continuous glucose monitors in recent years. Adding to this, increasing demand for user-friendly homecare devices along with FDA approvals for new CGMs in the region will impel the segment growth.
North America Market, By Application
The type 2 diabetes segment dominated over 90% North America market share in 2020. Increasing adoption of unhealthy habits such as unhealthy diet and tobacco consumption along with obesity are accountable factors for the onset of type 2 diabetes mellitus (T2DM). Additionally, growing population aged over 45 years that is susceptible to type 2 diabetes is adding to the total patient population. According to CDC, 34 million Americans have diabetes and around 90-95% of them have type 2 diabetes. With growing customer pool coupled with requirement for timely monitoring will augment the market demand for various SMBG devices among T2DM population in the region.
North America Market, By Distribution Channel
Retail pharmacies segment accounted around USD 1.9 billion revenue in 2020. Diabetes patients require timely monitoring of blood glucose levels. Self-monitoring blood glucose devices are easily available at retail pharmacies at variable rate with availability of several discounts and offers. Adding to this, improvement in medical infrastructure, expanding pharmacies and increase in disposable income will positively impact distribution of SMBG devices through retail pharmacies in future.
North America Market, By Country
The U.S. self-monitoring blood glucose devices market was valued at over USD 6 billion in 2020. The domestic market growth is attributed to increasing prevalence of chronic diseases due to change in lifestyle and eating habits, leading to high demand for diabetes products. Additionally, numerous companies operating and based in the U.S. are launching novel devices in the country. Further, availability of reimbursement for SMBG devices including CGM will influence the market expansion.
Competitive Industry Landscape
Eminent players engaged in the market include Abbott Laboratories, Arkray, Bayer Healthcare, Dexcom, F. Hoffmann-La Roche and Johnson & Johnson, among others.
These companies are undertaking various strategies to develop innovative and advanced products in order to acquire significant market share. For instance, in August 2021, Abbott received U.S. FDA clearance for the use of FreeStyle Libre 2 iOS application with compatible iPhones, thereby providing a comprehensive digital offering. The FreeStyle Libre portfolio is widely used continuous glucose monitoring (CGM) system and mostly prescribed in the U.S.