Canada Continuous Glucose Monitoring Market Insights Forecasts to 2033

• The Canada Continuous Glucose Monitoring Market Size was valued at USD 247.7 Million in 2023.
• The Market Size is growing at a CAGR of 11.84% from 2023 to 2033
• The Canada Continuous Glucose Monitoring Market Size is expected to reach USD 758.5 Million by 2033

The Canada Continuous Glucose Monitoring Market Size is anticipated to exceed USD 758.5 Million by 2033, growing at a CAGR of 11.84% from 2023 to 2033. The increasing prevalence of diabetes fostering research & treatment and government support are driving the growth of the continuous glucose monitoring market in the Canada.     

Market Overview

Continuous glucose monitoring refers to estimating blood glucose levels throughout the day and night. These wearable devices are minimally invasive and continuously monitor blood sugar levels to treat diabetes effectively. By successfully managing blood glucose levels that are out of range, appropriate and prompt blood glucose monitoring helps to reduce the health consequences associated with diabetes and helps to avoid progressive complications such as renal, nerve, and ocular damage. Manufacturers of glucose monitoring devices prioritize creating innovative and state-of-the-art CGMS. The demand for CGM devices, government initiatives, new product releases, and growing awareness of diabetes prevention are significant factors propelling the market expansion.

Report Coverage

This research report categorizes the market for the Canada continuous glucose monitoring market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada continuous glucose monitoring market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada continuous glucose monitoring market.

Driving Factors

The increasing prevalence of diabetes in the country owing to rising aging population, obesity rates, and surging unhealthy lifestyle is responsible for driving the market demand. Further, the increasing research & development and government support are contributing to propel the market growth. For instance, in February 2024, separate from Bill C-64, the federal government announced its intention to establish a fund to support access to diabetes devices and supplies.

Restraining Factors

The high cost and poor reimbursement policies of these devices are responsible for restraining the market as consumers have to pay the entire cost out-of-pocket and there are no other provinces or territories that currently publicly fund this technology.

Market Segmentation

The Canada Continuous Glucose Monitoring Market share is classified into component and end user.

• The sensors segment dominated the market with the largest market share during the forecast period.

The Canada continuous glucose monitoring market is segmented by component into sensors and durables (receivers & transmitters). Among these, the sensors segment dominated the market with the largest market share during the forecast period. Disposable and implantable sensors are the two categories of continuous glucose monitoring device sensors. The increasing technological advancements in devices for enhancing sensor accuracy are driving the market in the sensors segment.

• The homecare settings segment is anticipated to grow at the fastest CAGR during the forecast period.

Based on the end user, the Canada continuous glucose monitoring market is divided into hospitals & clinics and homecare settings. Among these, the homecare settings segment is anticipated to grow at the fastest CAGR during the forecast period. Continuous blood glucose monitoring devices can be used by diabetic people at home to closely control their blood glucose levels and reduce their risk of health problems. The simple and effective monitoring of blood glucose in homecare settings is responsible for driving the market demand.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada continuous glucose monitoring market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Abbott Diabetes Care
• Dexcom Inc.
• Medtronic PLC
• Ascensia Diabetes Care
• GlySens
• Ascensia 
• Medtronic  
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2024, Dexcom, Inc. announced that its Dexcom G7 Continuous Glucose Monitoring (CGM) System would be added to the Régie de l'assurance maladie du Québec (RAMQ) Public Prescription Drug Insurance Plan. This expansion brings coverage to Québec residents ages two and older living with type 1 diabetes who meet eligibility criteria.  
• In October 2023, Dexcom, Inc., a global leader in real-time continuous glucose monitoring (rtCGM) for people with diabetes, announced that its next-generation Dexcom G7 Continuous Glucose Monitoring (CGM) System would be available for Canadians living with all types of diabetes ages two and older, including those who are pregnant.
• In March 2023, Dexcom, Inc., a global leader in real-time continuous glucose monitoring (rtCGM) for people with diabetes, announced that its Dexcom G6 CGM System would be available to people of all ages with type 1 and type 2 diabetes in Manitoba who meet eligibility criteria.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Continuous Glucose Monitoring Market based on the below-mentioned segments

Canada Continuous Glucose Monitoring Market, By Component

• Sensors
• Durables (Receivers & Transmitters)

Canada Continuous Glucose Monitoring Market, By End User

• Hospital & Clinics
• Homecare Settings