The glucose monitoring device market in North America is a very fast-growing market and expected to reach USD 0.91 billion by 2027 from USD 0.70 billion in 2022, at a CAGR of 5.54% during the forecast period. North America rules the glucose monitoring device market with the highest market value and 34% in the global market in 2022. It is the dominating market in the recent development, with the USA nearly accounting for more than one-third of the worldwide market share.
Continuous glucose monitoring results help patients regulate their food intake, exercise, and medications. The device contains sensors for checking the glucose levels from the interstitial fluid. The sensor has a period where it can be used in one place and then replaced. This device monitors the glucose levels over time, allowing the patients to identify low and high sugar levels, which are more dangerous. Whereas for the self-monitoring devices, people have to test, and it monitors the level at that particular time and not before that.
The growing incidence of diabetes in North American countries is majorly accelerating market growth. The rising older people population, a large number of steps taken by the government for controlling diabetes and treatment, and the presence of key players in this region further fuelled the market's growth rate.
High costs associated with the glucose monitoring devices are expected to showcase a negative impact on the market. People living in rural areas are not well unaware of the devices, insufficient reimbursement policies and lack of a uniform format for showcasing results are the significant challenges to the market.
This research report on the North America Glucose Monitoring Devices Market has been segmented and sub-segmented into the following categories:
Regionally, North America dominated the global market in 2019.
The U.S. is leading the North America glucose monitoring devices market during the assessment period. Growing healthcare expenditure, huge patient population, and complete approval of technology advancements favor market growth. Around 2.9 billion funds for the diabetes industry like Glooko have developed new creative designs from startup companies. The growing number of product launches and FDA approvals for the launch of products and improving patient comfort are to surge the market growth.
The Canadian market is next to the United States in showing promising growth in the North American market. The country is expected to deliver cost-effective solutions for diabetes is likely to dominate the market over the next decade. Increasing demand for these CGM devices, rising obesity rates, unenergetic lifestyles, and computer literate population are the major causes of this region's growth. Extensive usage of these devices bolsters the market growth in this region.
Companies playing a dominant role in the North America Glucose Monitoring Device Market profiled in this report are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc., AgaMatrix Inc., Arkray Inc., Medtronic, DexCom Inc., Nova Biomedical Corporation, and Terumo Europe NV.
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