Canada Continuous Glucose Monitoring Market Size
| Study Period | 2019- 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 277.54 Million |
| Market Size (2029) | USD 489.84 Million |
| CAGR (2024 - 2029) | 12.03 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Canada Continuous Glucose Monitoring Market Analysis
The Canada Continuous Glucose Monitoring Market size is estimated at USD 277.54 million in 2024, and is expected to reach USD 489.84 million by 2029, growing at a CAGR of 12.03% during the forecast period (2024-2029).
According to Diabetes Canada, at the beginning of the COVID-19 pandemic, studies showed that diabetes was one of the major comorbidities associated with the development of severe COVID-19-related adverse outcomes and mortality. Adults living with diabetes who contracted COVID-19 were at higher risk of developing adult respiratory distress syndrome, pneumonia, excessive uncontrolled inflammation responses, and a hypercoagulable state.
Early reports placed the odds of in-hospital death from COVID-19 to be 2.85 times higher in adults living with diabetes compared to patients without diabetes. According to experts, inpatient use of diabetes technology in patients with proper institutional protocols was safe, and improved inpatient glycemic outcomes played a vital role in managing hypoglycemia and hyperglycemia in hospitalized patients.
Appropriate and timely monitoring of blood glucose allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications. Continued elevation in blood glucose levels in diabetes patients can contribute to progressive complications such as renal, nerve, and ocular damage. The measurement of blood glucose helps in determining the effectiveness of blood glucose metabolism and guides in achieving optimal glucose control within the body. Over time, the readings provide the patient and their health professionals with the information required to determine the best management strategy for diabetes.
Furthermore, the current continuous glucose monitoring can either retrospectively display the trends in the levels of blood glucose by downloading the data or give a real-time picture of glucose levels through receiver displays. The newest CGM (continuous glucose monitoring) models, the Abbott Freestyle Libre 3, and the Dexcom G7, overcame many technical barriers. Technological advances such as Eversense E3 CGMs have significantly improved the ability of providers and patients to manage diabetes, thereby enhancing the market prospects in the years to come.
Canada Continuous Glucose Monitoring Market Trends
Rising Diabetes Prevalence in Canada is anticipated to boost the market studied.
In the current year, according to Diabetes Canada, more than 5.7 million Canadians are living with diagnosed diabetes (type 1 or type 2 diabetes); however, 11.7 million Canadians are living with diabetes or prediabetes, a condition that, if left unmanaged, can develop into type 2 diabetes. Diabetes is also costing the healthcare system USD 30 billion per year to treat people with diabetes.
Monitoring blood glucose levels serves as a useful adjunct to other measures of glycemia, including A1C. It is the optimal way to confirm and appropriately treat hypoglycemia. It can provide feedback on the results of healthy behavior interventions and antihyperglycemic pharmacological treatments. It can increase one's empowerment and adherence to treatment. It can also provide information to both the person with diabetes and their diabetes healthcare team to facilitate longer-term treatment modifications and titrations as well as shorter-term treatment decisions, such as insulin dosing for people with type 1 or type 2 diabetes. In situations where A1C does not accurately reflect glycemia, monitoring blood glucose is necessary to adequately monitor glycemia.
The World Health Assembly Resolution 2022 recommends the integration of prevention and treatment of diabetes into primary health services, the development of pathways for increase in access to insulin, promotion of convergence and harmonization of regulatory requirements for diabetes medicines and technologies, and improved diabetes monitoring and surveillance. Furthermore, it involves the WHO to advise the member states to ensure the uninterrupted treatment of people living with diabetes in humanitarian emergencies.
The Canadian Diabetes Strategy (CDS) is a national partnership that includes the provinces and territories, many national health organizations and groups, and aboriginal communities across the country. The purpose of the CDS is to establish effective diabetes prevention and control strategies for Canada through its various partners to ensure that resources are deployed accordingly.
Therefore, the studied market is anticipated to witness growth over the analysis period due to rising prevalence and increasing awareness through government initiatives.
The Sensors Segment is Expected to Hold the Highest Share Over the Forecast Period
The sensors segment is expected to register a CAGR of 18.2% over the forecast period.
Continuous glucose monitoring devices are automated glucose monitoring systems that consist of a small device that can be worn on the body and held on by an adhesive patch. The sensor part of the device has a cannula that is inserted into the top layer of skin and uses samples of interstitial fluid to check glucose levels. Sensors are connected to a transmitter that can send data wirelessly to a dedicated mobile receiving device or smartphone. Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Sensors are the most important part of continuous glucose monitoring devices.
Researchers are trying to find and develop alternatives to electrochemical-based glucose sensors and create more affordable, minimally invasive, and user-friendly CGM sensors. Optical measurement is a promising platform for glucose sensing. Some technologies have been reported to have high potential in continuous glucose sensing, including spectroscopy, fluorescence, holographic technology, etc. Eversense, a CGM sensor based on fluorescence sensing developed by Senseonics company, has a much longer lifespan in comparison with electrochemical sensors. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period.
Canada Continuous Glucose Monitoring Industry Overview
The Canada continuous glucose monitoring market is consolidated, with few significant players. There have been constant innovations driven by manufacturers such as Abbott, Dexcom, Medtronic, etc., while also adhering to organic growth strategies, which is evident from the R&D spending of these companies.
Canada Continuous Glucose Monitoring Market Leaders
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Ascensia
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Abbott
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Dexcom
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GlySens
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Medtronic
*Disclaimer: Major Players sorted in no particular order
Canada Continuous Glucose Monitoring Market News
- October 2023: Dexcom launched its next-generation G7 continuous glucose monitor (CGM) in Canada for people with all types of diabetes aged two and older, including those who are pregnant, in the country.
- March 2023: Dexcom announced that all people with type 1 and type 2 diabetes in Manitoba, Canada, meet eligibility criteria for its G6 CGM. As of the company鈥檚 announcement, Manitoba is the only province in Canada that does not require an application for coverage preapproval.
Canada Continuous Glucose Monitoring Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component
5.1.1 Sensors
5.1.2 Durables
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott Diabetes Care
7.1.2 Dexcom Inc.
7.1.3 Medtronic PLC
7.1.4 Ascensia Diabetes Care
7.1.5 GlySens
- *List Not Exhaustive
7.2 Company Share Analysis
7.2.1 Abbott Diabetes Care
7.2.2 Dexcom Inc.
7.2.3 Medtronic PLC
7.2.4 Others
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Canada Continuous Glucose Monitoring Industry Segmentation
Achieving optimum glycaemic results can be very difficult without frequent monitoring of blood glucose levels. A continuous glucose monitor tracks blood sugar levels 24 hours a day. It collects readings automatically every five to fifteen minutes and detects trends and patterns to provide a complete picture of diabetes. The Canada continuous glucose monitoring market is segmented into components (sensors and durables). The report offers the value (in USD) and volume (in units) for the above segments.
| Component | |
| Sensors | |
| Durables |
Canada Continuous Glucose Monitoring Market Research Faqs
How big is the Canada Continuous Glucose Monitoring Market?
The Canada Continuous Glucose Monitoring Market size is expected to reach USD 277.54 million in 2024 and grow at a CAGR of 12.03% to reach USD 489.84 million by 2029.
What is the current Canada Continuous Glucose Monitoring Market size?
In 2024, the Canada Continuous Glucose Monitoring Market size is expected to reach USD 277.54 million.
Who are the key players in Canada Continuous Glucose Monitoring Market?
Ascensia, Abbott, Dexcom, GlySens and Medtronic are the major companies operating in the Canada Continuous Glucose Monitoring Market.
What years does this Canada Continuous Glucose Monitoring Market cover, and what was the market size in 2023?
In 2023, the Canada Continuous Glucose Monitoring Market size was estimated at USD 244.15 million. The report covers the Canada Continuous Glucose Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Canada Continuous Glucose Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Canada Continuous Glucose Monitoring Industry Report
Statistics for the 2024 Canada Continuous Glucose Monitoring market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Canada Continuous Glucose Monitoring analysis includes a market forecast outlook to for 2024 to 2029) and historical overview. Get a sample of this industry analysis as a free report PDF download.
