$3.1bn
$XXX.Xm
8,757
56
$XXX.Xm
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.
Industry revenue has declined at a CAGR of 0.9 % over the past five years, to reach an estimated $3.1bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($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 |
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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.
The oral antidiabetic segment is the largest product segment and has remained stable
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.
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NAICS 32541 - Glucose Meter Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The regulatory framework concerning the industry has increased over the past five years. This has contributed to unprofitable manufacturers exiting the industry.
Learn about an industry's products and services, markets and trends in international trade.
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...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
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...
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.
Manufacturers primarily compete on price and quality of products. Competition based on price is crucial for manufacturers that develop products not covered by Medicare.
Learn about the performance of the top companies in the industry.
The industry is moderately concentrated. The top three manufacturers comprise over one-half of industry revenue.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Good Manufacturing Practices (GMP) require domestic and foreign manufacturers to produce high-quality finished products. In addition, quality systems ensure that medical devi...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
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...
Including values and annual change:
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The market size of the Glucose Meter Manufacturing in the US industry in United States is $3.1bn in 2024.
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.
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.
Over the next five years, the Glucose Meter Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Glucose Meter Manufacturing market in United States are LifeScan Inc., F. Hoffmann-La Roche Ag and Abbott Laboratories
Diabetes market research and Glucose meter monitoring research and development are part of the Glucose Meter Manufacturing in the US industry.
The company holding the most market share in United States is LifeScan Inc..
The level of competition is moderate and increasing in the Glucose Meter Manufacturing in the US industry in United States.