Glucose Meter Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4067Revenue
$3.1bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
8,757
Businesses
56
Wages
$XXX.Xm
Glucose Meter Manufacturing in the US industry analysis
Over the past five years, the glucose meter manufacturing industry has benefited from the rising prevalence of diabetes. The American Diabetes Association (ADA) reports that there are about 8.5 million individuals with undiagnosed diabetes, providing manufacturers with a large potential customer base. Diabetic patients use glucose meters to manage their glucose levels, as these meters measure and display the amount of sugar (i.e., glucose) in their blood. Products have increasingly appealed to diabetic patients because meters now require less blood to take measurements and can store previous glucose levels, streamlining patients' healthcare data. However, over the past five years, revenue has slumped at a CAGR of 0.9% to $3.1 billion, including an expected 1.4% increase in 2023. Profit is expected to slump to 7.9% of revenue in 2023 from 10.8% in 2018.The COVID-19 (coronavirus) pandemic undermined trade in 2020, on which the industry heavily relies. According to IBISWorld estimates, exports and imports declined in 2020, with industry exports declining by double digits. In addition, the coronavirus pandemic, coupled with stringent government (i.e., Medicare) reimbursement rates, has also put pressure on profitability for manufacturers. Mounting price-based competition has limited how many glucose meter manufacturers can mark up prices to recoup their research and development expenditures over the past five years.Over the next five years, industry revenue is expected to climb as diabetes becomes increasingly prevalent. This growth is expected to be led by global demand for products; as data from the World Health Organization, diabetes is anticipated to become the seventh leading cause of mortality by 2030. In addition, industry exports are expected to jump as the US dollar weakens, making domestic goods more affordable for foreign consumers, ultimately fueling the industry's growth. Overall, revenue is forecast to grow at a CAGR of 0.8% to $3.2 billion over the five years to 2028.
Trends and Insights
- The regulatory framework concerning the industry has increased over the past five years. This has contributed to unprofitable manufacturers exiting the industry.
- The continuous glucose monitoring (CGM) systems and meters segment has grown in popularity over the past five years. CGM devices typically work in conjunction with insulin pumps.
- Glucose meter manufacturers may locate near downstream markets, such as consumers and healthcare providers. Some states have a high percentage of adults who have been diagnosed with diabetes.
- Manufacturers primarily compete on price and quality of products. Competition based on price is crucial for manufacturers that develop products not covered by Medicare.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 0.9 % over the past five years, to reach an estimated $3.1bn in 2023.
Trends and Insights
New technologies shape the industry
- Over the past five years, new technologies have shaped the healthcare sector. This industry has introduced glucose meters that feature new technologies to assist end users in accessing their glucose levels.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Uncertainty of regulations may limit product development and price-based competition will limit profit
- Industry revenue is expected to climb due to rising demand for glucose meters as diabetes is expected to become increasingly prevalent domestically and abroad.
Biggest companies in the Glucose Meter Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
LifeScan Inc. | 1,019.0 | 99.2 | 9.7 | |
F. Hoffmann-La Roche Ag | 630.3 | 217.4 | 34.5 | |
Abbott Laboratories | 188.6 | 41.9 | 22.2 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Continuous glucose monitoring (CGM) systems and meters, Insulin delivery and Oral antidiabetic. Continuous glucose monitoring (CGM) systems and meters is the largest segment of the Glucose Meter Manufacturing in the US.
Trends and Insights
The oral antidiabetic segment is the largest product segment and has remained stable
- This segment makes up over one-third of total revenue. Some glucose meter manufacturers may include producing oral antidiabetics in their product portfolio.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Medical Device Manufacturing in the US
- Medical Instrument & Supply Manufacturing in the US
- Health & Medical Insurance in the US
- Diagnostic & Medical Laboratories in the US
International industries
- Measuring, Testing & Navigational Equipment Manufacturing in the UK
Table of Contents
About this industry
Industry definition
The Glucose Meter Manufacturing industry develops and produces blood glucose meters and testing supplies that help users monitor blood glucose levels. Most manufacturers also develop other medical devices.
What's included in this industry?
Diabetes market researchGlucose meter monitoring research and developmentGlucose meter manufacturingGlucose meter accessory manufacturingCompanies
LifeScan Inc.F. Hoffmann-La Roche AgAbbott LaboratoriesPurchase this report to view all 3 major companies in this industry.
Related Terms
LIFESTYLE DISEASESCOMMODITIZED510(K)RESEARCH AND DEVELOPMENT (R&D)Industry Code
NAICS 32541 - Glucose Meter Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The regulatory framework concerning the industry has increased over the past five years. This has contributed to unprofitable manufacturers exiting the industry.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
The continuous glucose monitoring (CGM) systems and meters segment has grown in popularity over the past five years. CGM devices typically work in conjunction with insulin pu...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Glucose meter manufacturers may locate near downstream markets, such as consumers and healthcare providers. Some states have a high percentage of adults who have been diagnos...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Manufacturers primarily compete on price and quality of products. Competition based on price is crucial for manufacturers that develop products not covered by Medicare.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
The industry is moderately concentrated. The top three manufacturers comprise over one-half of industry revenue.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of LifeScan Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of F. Hoffmann-La Roche Ag's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Abbott Laboratories's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for LifeScan Inc., and factors influencing its performance in the industry
- Description and key data for F. Hoffmann-La Roche Ag, and factors influencing its performance in the industry
- Description and key data for Abbott Laboratories, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Good Manufacturing Practices (GMP) require domestic and foreign manufacturers to produce high-quality finished products. In addition, quality systems ensure that medical devi...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit shrinks as Medicare reimbursements were cut for test strips. Industry profit has experienced downward pressure over the past five years due to Medicare reimbursement c...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Glucose Meter Manufacturing in the US industry in United States in 2024?
The market size of the Glucose Meter Manufacturing in the US industry in United States is $3.1bn in 2024.
How many businesses are there in the Glucose Meter Manufacturing in the US industry in 2023?
There are 56 businesses in the Glucose Meter Manufacturing in the US industry in United States, which has declined at a CAGR of 2.0 % between 2018 and 2023.
Has the Glucose Meter Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Glucose Meter Manufacturing in the US industry in United States has been declining at a CAGR of 0.9 % between 2018 and 2023.
What is the forecast growth of the Glucose Meter Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Glucose Meter Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Glucose Meter Manufacturing in the US market in United States?
The biggest companies operating in the Glucose Meter Manufacturing market in United States are LifeScan Inc., F. Hoffmann-La Roche Ag and Abbott Laboratories
What does the Glucose Meter Manufacturing in the US in United States include?
Diabetes market research and Glucose meter monitoring research and development are part of the Glucose Meter Manufacturing in the US industry.
Which companies have the highest market share in the Glucose Meter Manufacturing in the US in United States?
The company holding the most market share in United States is LifeScan Inc..
How competitive is the Glucose Meter Manufacturing in the US industry in United States?
The level of competition is moderate and increasing in the Glucose Meter Manufacturing in the US industry in United States.
