Published Date: 2022-01-18
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North American SMBG Devices Market size is projected to cross USD 13.5 billion by 2027, according to a latest forecast report by Graphical Research.
Technological advancement in self-monitoring blood glucose devices in order to provide ease-of-use to patients coupled with improved technology is projected to accelerate the market growth. Researchers are focusing on development of non-invasive and continuous blood glucose monitoring solutions for patients with the help of electromagnetism technology. Contribution of new technologies and development of advanced monitoring devices offers improved accuracy and precise results.
Increasing adoption of unhealthy dietary habits along with physical inactivity has resulted in increase in obesity among population. Expanding obese population is vulnerable to type 2 diabetes, thus increasing the incidence of diabetes mellites. Furthermore, adoption of sedentary lifestyle requires faster and safer diagnosis & treatment of diabetes in order to prevent and manage the diabetes. Thus, in order to prevent the onset and risk of comorbid conditions and diseases including COVID-19, the demand for self-monitoring blood glucose devices will expand in the future.
The North America self-monitoring blood glucose devices market from testing strips segment is expected to substantial growth during forecast timeframe. Testing strips are essential for time-to-time glucose testing and need to purchase on a regular basis. Additionally, the supply and demand of testing strips in homecare settings will be fueled by the rapid expansion in the number of people undergoing blood glucose testing.
Browse detailed statistical insights from the report, “North America Self-Monitoring Blood Glucose (SMBG) Devices Market Forecast 2027 By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), By Product (Self-monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics & Centers), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
Type 1 diabetes segment is predicted to witness 9.3% CAGR through 2027 owing to increasing prevalence of type 1 diabetes among all age group. According to the American Diabetes Association, around 34.2 million Americans had diabetes in 2018. The adoption of unhealthy lifestyle and high-fat diet are factors that majorly boost the type 1 diabetes among population.
Hospital pharmacies segment was valued at over USD 2 billion revenue in 2020. Availability of advanced CGM systems in hospital pharmacies, along with growing demand for personalized medication due to surging hospitalizations will support the market demand. Additionally, increasing government funding in order to develop advanced healthcare facilities in the region.
Canada self-monitoring blood glucose (SMBG) devices market is set to proceed at 9.3% CAGR till 2027 on account of growing prevalence of type 2 diabetes in Canada are increasing the demand for SMBG devices. According to the data published by Government of Canada, 90% of adults in Canada suffer from type 2 diabetes, 9% type 1, and less than 1% is of a different type. Thus, increasing diabetes cases in Canada has boosted home-use of test strip and other products owing to initiatives of local governments across Canada.
The North American SMBG devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
North America Market, By Product
North America Market, By Application
North America Market, By Distribution Channel
The above information has been provided for the following countries:
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