Canada Glucometer Market By Product Type (Self Glucose Monitoring Glucometers, Continuous Glucose Monitoring Glucometers), By Technique (Invasive, Non-Invasive), By Type (Wearable, Non-Wearable), By Distribution Channel (Hospital Pharmacies, Retail Outlet, Online, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Home Care, Others), By Region, Competition, Forecast, and Opportunities,
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationCanada Glucometer Market By Product Type (Self Glucose Monitoring Glucometers, Continuous Glucose Monitoring Glucometers), By Technique (Invasive, Non-Invasive), By Type (Wearable, Non-Wearable), By Distribution Channel (Hospital Pharmacies, Retail Outlet, Online, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Home Care, Others), By Region, Competition, Forecast, and Opportunities,
Canada glucometer market is anticipated to witness impressive growth during the forecast period.
Rising prevalence of diabetes
The death rate due to diabetes mellitus in Canada has fallen since 2000 from 22 deaths per 100,000 population to 20 deaths per 100,000 population in 2020.
Growing awareness about diabetes management
Growing awareness about diabetes management is a key factor influencing the growth of the Canada glucometer market. Diabetes is a chronic disease that affects millions of people around the world, and proper management is essential to preventing complications and improving quality of life for those living with the disease. As such, there has been a concerted effort in recent years to increase awareness about diabetes management, which includes regular blood glucose monitoring using glucometer devices. The growing awareness about diabetes management has led to an increase in the number of people with diabetes who are monitoring their blood glucose levels regularly. This has created a growing demand for glucometer devices in Canada, as people look for convenient and reliable ways to monitor their blood glucose levels at home. As a result, the glucometer market in Canada has experienced steady growth in recent years, and this trend is expected to continue in the coming years. In addition, the growing awareness about diabetes management has also led to increased competition among manufacturers of these devices. As more people with diabetes are now aware of the importance of regular blood glucose monitoring, they are also becoming more discerning in their choice of glucometer device. Manufacturers are responding to this demand by developing new and innovative products that offer greater accuracy, ease of use, and affordability. Moreover, increased awareness about diabetes management has also led to increased government and private investment in diabetes research and development of new treatments and technologies. This has led to the development of new and advanced glucometer devices that provide more accurate and reliable readings and have more advanced features, such as bluetooth connectivity and smartphone apps.
Technological advancements in glucometer devices
Technological advancements in glucometer devices have had a significant influence on the growth of the Canada glucometer market. Over the years, there has been a significant evolution in the design, functionality, and features of glucometer devices. This has resulted in the development of more accurate, convenient, and user-friendly devices that have greatly improved the user experience for people with diabetes. One of the major advancements in glucometer technology is the use of continuous glucose monitoring (CGM) devices. These devices provide real-time monitoring of blood glucose levels and provide alerts when levels go above or below a certain threshold. CGM devices are more accurate than traditional glucometers, which require a fingerstick blood sample, and provide more comprehensive data to help people with diabetes manage their blood glucose levels effectively. The availability of CGM devices has led to a growing market for these devices in Canada. Another significant advancement in glucometer technology is the integration of smartphone apps and Bluetooth connectivity. Many modern glucometer devices are designed to connect wirelessly with smartphones, allowing people with diabetes to track their blood glucose levels on their mobile devices. These apps can provide valuable insights into blood glucose trends over time, help people track their insulin dosage, and provide reminders for when to take medications. The convenience and ease of use of these devices have contributed to their growing popularity in the Canadian market. Moreover, there has been a significant improvement in the accuracy of glucometer devices. Modern devices use advanced technology, such as biosensors and signal processing algorithms, to provide more accurate readings of blood glucose levels. This has led to an increase in the reliability of these devices and greater confidence in their accuracy among people with diabetes, contributing to their growing adoption.
Increased government support
Government support has played a significant role in the growth of the Canada glucometer market. The Canadian government has taken several measures to support people with diabetes and to promote the development and adoption of advanced glucose monitoring technologies, which has contributed to the growth of the glucometer market. One of the ways the government has supported the growth of the glucometer market is through funding for diabetes research. The government provides funding for research into new treatments for diabetes, including new glucose monitoring technologies. This funding has helped to drive innovation and advance the development of new and more advanced glucometer devices in Canada. The government has also established programs and policies to increase access to diabetes management tools, including glucometer devices. For example, some provinces in Canada offer diabetes management programs that provide free or subsidized glucometer devices to people with diabetes. These programs have made it easier for people with diabetes to access the tools they need to manage their condition, which has contributed to the growth of the glucometer market. Additionally, the Canadian government has established regulations and standards for the manufacture and distribution of medical devices, including glucometer devices. These regulations ensure that glucometer devices meet certain standards of safety, effectiveness, and quality, which has helped to build trust in the accuracy and reliability of these devices among people with diabetes. This has contributed to the growth of the glucometer market in Canada by creating a favorable regulatory environment for manufacturers.
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Market Segmentation
The Canada glucometer market can be segmented by product type, technique, type, distribution channel, end user, and region. Based on product type, the Canada glucometer market can be segmented into self glucose monitoring glucometers and continuous glucose monitoring glucometers. Based on technique, the Canada glucometer market can be divided into invasive and non-invasive. Based on type, the Canada glucometer market can be divided into wearable and non-wearable. Based on distribution channel, the Canada glucometer market can be segmented into hospital pharmacies, retail outlet, online, and others. Based on end user, the Canada glucometer market can be grouped into hospitals & clinics, diagnostic centers, home care, and others.
Market Players
Medtronic of Canada Ltd, Abbott Canada., Johnson & Johnson Inc/Canada, B. Braun of Canada, Hoffmann-La Roche Limited., Ascensia Diabetes Care., Sanofi-Aventis Canada Inc, and Eli Lilly Canada Inc. are some of the leading players operating in the Canada glucometer market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Product Type By Technique By Type By Distribution Channel By End User By Region |
| Regional Scope | Ontario, Quebec, Alberta, British Columbia, Saskatchewan and Manitoba, and Rest of Canada |
| Key Companies Profiled | Medtronic of Canada Ltd, Abbott Canada., Johnson & Johnson Inc/Canada, B. Braun of Canada, Hoffmann-La Roche Limited., Ascensia Diabetes Care., Sanofi-Aventis Canada Inc, and Eli Lilly Canada Inc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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