Dublin, March 22, 2019 (GLOBE NEWSWIRE) -- The "North America Self-monitoring Blood Glucose Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The North America self-monitoring blood glucose (SMBG) market is expected to witness a CAGR of 13.44% during the forecast period (2019-2024).
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. In this region, the United States alone accounts for close to 75% of the diabetic population.
Approximately 2.2 million deaths were caused due to high blood glucose in 2012. According to the American Diabetes Association (ADA), 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 North American region has been divided into the United States, Canada, and the rest of North America.
Scope of the Report
The market is segmented by type (glucometer devices, test strips, and lancets), end user (hospital use and home use), and geography.
Key Market Trends - Blood Glucose Test Strips have the Largest Market Share
Blood glucose test strips constitute around 83% of the total market in the North America SMBG market.
The glucometer is considered to be a one-time purchase. However, test strips, on the other hand, are a continuous investment, as a test strip needs to be disposed of after one use. Thus, it presents a considerable cost impact to the consumers.
Overall, the global demand for blood glucose test strips is projected to witness significant growth over the forecast period. The growth of the market studied is expected to be spurred by the rising global diabetic population.
The growth in market volumes and share of the test strip segment is expected to be better than that of glucometers, because of the difference in the use-case frequency. While an average glucose meter lasts anywhere between six months and three years, presenting a one-time cost, during the same time frame, the corresponding use of multiple (in the range of thousands) test strips may occur, causing a recurrent cost impact.
The United States Holds the Largest Market Share
The diabetic population in the United States is expected to cross 40 million by 2045. Monitoring blood glucose levels is necessary, as poor blood glucose levels result in diabetes-related complications, like diabetic retinopathy, diabetic neuropathy, etc.
In the United States, the type 1 diabetes population is expected to witness a CAGR of 1.01% by 2024.
Blood glucose meters are now portable and accurate to use. Advancements in technology in SMBG devices have bought awareness among patients in the use of the products at home.
The SMBG market in the United States is estimated to value USD 6,034.56 million in 2019. Glucometer consumables (test strips and lancets) account for 93%, and glucometer devices account for 7%, of the market studied.
Competitive Landscape
The North America self-monitoring blood glucose market is highly consolidated, with a few major manufacturers having a global market presence, while the remaining manufacturers confined to local or region-specific manufacturers.
Mergers and acquisitions that occurred between the players in the recent past have helped companies strengthen their market presence. Panasonic acquired Bayer's diabetes care unit and named it Ascensia diabetes care, which continued its operations in North America.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Drivers
4.3 Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Self-monitoring Blood Glucose Devices
5.1.1 By Component (Value and Volume, 2012-2024)
5.1.1.1 Glucometer Devices
5.1.1.2 Test Strips
5.1.1.3 Lancets
5.1.2 By End User (Value and Volume, 2012-2024)
5.1.2.1 Hospital
5.1.2.1.1 Glucometer Devices
5.1.2.1.2 Test Strips
5.1.2.1.3 Lancets
5.1.2.2 Personal
5.1.2.2.1 Glucometer Devices
5.1.2.2.2 Test Strips
5.1.2.2.3 Lancets
5.2 Geography
5.2.1 North America
5.2.1.1 United States (Value and Volume, 2012-2024)
5.2.1.1.1 Blood Glucose Self-monitoring
5.2.1.1.1.1 By Component (Glucometer Device, Test strips, Lancets)
5.2.1.1.1.2 By End User (Hospital and Personal)
5.2.1.1.1.3 By Company (Roche, Abbott, Johnson & Johnson (Lifescan) and Others)
5.2.1.2 Canada (Value and Volume, 2012-2024)
5.2.1.2.1 Blood Glucose Self-monitoring
5.2.1.2.1.1 By Component (Glucometer Device, Test Strips, Lancets)
5.2.1.2.1.2 By End User (Hospital and Personal)
5.2.1.2.1.3 By Company (Roche, Abbott, Johnson & Johnson (Lifescan), and Others)
5.2.1.3 Rest of North America (Value and Volume, 2012-2024)
5.2.1.3.1 Blood Glucose Self-monitoring
5.2.1.3.1.1 By Component (Glucometer Device, Test Strips, Lancets)
5.2.1.3.1.2 By End User (Hospital and Personal)
5.2.1.3.1.3 By Company (Roche, Abbott, Johnson & Johnson (Lifescan), and Others)
6 MARKET INDICATORS
6.1 Type-1 Diabetes Population (2012-2024)
6.2 Type-2 Diabetes Population (2012-2024)
7 COMPETITIVE LANDSCAPE
7.1 COMPANY PROFILES
7.1.1 Abbott Diabetes Care
7.1.2 Roche
7.1.3 Johnson & Johnson (Lifescan)
7.1.4 Dexcom
7.1.5 Medtronic
7.1.6 Arkray
7.1.7 Ascensia Diabetes Care
7.1.8 Agamatrix Inc.
7.1.9 Bionime Corporation
7.1.10 Acon
7.1.11 Medisana
7.1.12 Trivida
7.1.13 Rossmax
7.2 COMPANY SHARE ANALYSIS
7.2.1 Roche
7.2.2 Johnson & Johnson (Lifescan)
7.2.3 Abbott Diabetes Care
7.2.4 Others
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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