Canada Glucose Monitoring Device Market to Grow with a CAGR of 12.85% through 2030
The Canada glucose monitoring device market is gaining significantly from the increasing prevalence of diabetes in the country is expected to drive the Canada Glucose Monitoring Device Market growth in the forecast period, 2026-2030.
According
to the TechSci Research report, “Canada Glucose Monitoring
Device Market - By Region, Competition Forecast and
Opportunities, 2030,” the Canada Glucose Monitoring Device Market stood at USD 1.23 billion in 2024 and is anticipated to grow with a CAGR of 12.85% in the forecast period through 2030. This can be ascribed to
the increasing prevalence of diabetes along with the growing demand for insulin
for maintaining the sugar level in the body. Additionally, the growing
awareness regarding new glucose monitoring devices among consumers is expected
to create lucrative opportunities for market players in the coming years.
Besides, the growing uptake of these devices due to the high prevalence of
diabetes and the increasing geriatric population is further expected to support
the Canada glucose monitoring device market over the forecast period.
Also,
continued product improvements by key companies are expected to propel the
market in the near future. However, the cost of glucose monitoring devices,
particularly continuous glucose monitoring (CGM) systems, can be too high for
some patients which can slow down the growth of this market during the forecast
period. Similarly, The accuracy and reliability of glucose monitoring devices
can vary, which can lead to inaccuracies in blood glucose readings and errors
in diabetes management, hampering the Canada glucose monitoring device market
growth during the forecast period. Also, The market is highly competitive,
with several major players vying for market share. This competition can lead to
mergers & acquisitions and consolidation, further restricting the market’s
growth.
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the “Canada Glucose Monitoring Device Market.”
The
Canada glucose monitoring device market can be segmented by product type,
application, end user, and region.
Based on Product type, continuous glucose monitoring (CGM) systems are experiencing the fastest growth among product types. This surge is driven by the increasing prevalence of diabetes, technological advancements in CGM devices, and growing awareness of the benefits of real-time glucose monitoring. CGM systems offer continuous, real-time tracking of blood glucose levels, enabling better glycemic control and reducing the risk of diabetes-related complications. The integration of CGM devices with smartphones and other digital platforms has enhanced user convenience, making them more appealing to both patients and healthcare providers. Government initiatives aimed at improving diabetes management and access to advanced monitoring technologies further support the adoption of CGM systems. As these devices become more affordable and user-friendly, their utilization is expected to continue rising, solidifying their position as the fastest-growing segment in Canada's glucose monitoring device market.
Based on Region, Quebec is experiencing notable growth in the glucose monitoring device market, driven by several key factors. The province has seen a significant increase in the prevalence of diabetes, with a 42% rise in age-standardized prevalence between 2001 and 2019. This surge underscores the growing demand for effective diabetes management solutions, including advanced glucose monitoring devices. The provincial healthcare system's emphasis on chronic disease management has led to increased adoption of innovative technologies, such as continuous glucose monitoring (CGM) systems. These devices offer real-time glucose tracking, enabling better glycemic control and reducing the risk of complications associated with diabetes. Furthermore, Quebec's investment in healthcare infrastructure and patient education programs has enhanced awareness about the benefits of regular glucose monitoring. Collaborations between healthcare providers and technology companies are also facilitating the integration of user-friendly monitoring solutions into routine care.
Major
companies operating in the Canada glucose monitoring device market are:
- Medtronic
of Canada Ltd
- Abbott
Canada.
- Johnson
& Johnson Inc/Canada
- Braun
of Canada
- Hoffmann-La
Roche Limited.
- Ascensia
Diabetes Care.
- Sanofi-Aventis
Canada Inc.
- Eli
Lilly Canada Inc.
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“The
Canada glucose monitoring device market is expected to rise substantially over
the next few years due to the increasing prevalence of diabetes and the surge in
the aging population at risk of diabetes. The continued launches of new
products across the country are also aiding the market growth. Similarly,
increased awareness of diabetes preventive care has a significant impact on the
growth of the Canada glucose monitoring device market. Furthermore, the market
is expected to gain from the increasing number of people who are taking insulin
to recover, and the rising accessibility to quality healthcare services during
the forecast period. Going
forward, the rising awareness regarding point-of-care testing and the
increasing government healthcare expenditure in the region are likely to aid
the market over the next few years. Besides, the increase in focus of key
market players on public access to glucose monitoring devices and the surge in
the number of training and awareness programs in the region is further expected
to create lucrative opportunities for market growth,” said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based global management
consulting firm.
"Canada
Glucose Monitoring Device Market, By Product Type (Self Blood Glucose
Monitoring Devices, Continuous Glucose Monitoring Devices), Application (Type 1
Diabetes, Type 2 Diabetes, Gestational Diabetes), End User (Home Care Settings,
Hospital, Others), By Region and Competition, 2020-2030F," has evaluated
the future growth potential of Canada Glucose Monitoring Device Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision-makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Canada glucose monitoring device market.
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