The Asia-Pacific blood glucose monitoring market is expected to register a CAGR above 9% during the forecast period (2020-2025), and the market is estimated to reach more than USD 3.8 billion by 2025.
- Asia-Pacific has countries with the highest diabetic populations, such as China and India, with an average prevalence rate of more than 8%.
- Blood glucose monitoring devices are used for effective diabetes diagnosis and treatment. A rise in the diabetic population drives the market by increasing the use of blood glucose monitoring devices.
- Obesity is also considered one of the major factors contributing to the disease condition, mainly type 2 diabetes.
- Also, other factors such as technological innovations and advances provide convenience in measuring blood glucose levels.
- These devices help in early detection of hypo- and hyperglycemic conditions, which tend to drive the market for glucose monitoring market.
Key Market Trends
Self-monitoring Blood Glucose Devices Accounted for a Major Market Share in 2019
Although CGM is an advanced method for people living with diabetes to check glucose readings in real-time, SMBGs are the most preferred devices by patients in Asia-Pacific, due to their economic affordability and lesser sophistication in usage, when compared to CGM. The SMBG segment occupies more than 93% of the market share in the Asia-Pacific blood glucose monitoring market. Based on the component, the disposable consumables (test strips and lancets) occupy the largest market share compared to glucometer devices. China and India rank high in terms of diabetic populations around the globe, and the market for diabetes is expected to increase at a high rate in these two countries during the forecast period. Although CGM provides real-time data of blood glucose levels for patients, its adaptability is very low in Asia-Pacific markets. The cost factor is a major concern for the low growth of CGM in the Asia-Pacific market.
China Accounted for a Major Share in the Asia-Pacific Market in 2019
China is facing the largest diabetes epidemic in the world, with around 10% of its population suffering from metabolic illness, while nearly 36% are pre-diabetic. In 2019, China held the largest share in the Asia-Pacific blood glucose monitoring market due to the large patient pool and wide acceptance of advanced technologies. In china currently, more than 1.2 million people are with type-1 diabetes and 0.1 billion people are with type-2 diabetes. Type 1 diabetes can be characterized as insulin-requiring, while Type 2 diabetes can be characterized as insulin-dependent diabetes, the type-1 diabetes patients need to check their blood glucose levels frequently, this is driving the china blood glucose devices market.
The Asia-Pacific Blood Glucose Monitoring Market is fragmented with few major manufacturers having a presence in major countries of the Asia-Pacific market, while the remaining manufacturers stayed confined to the other local or region-specific markets. Mergers and acquisitions between players in the recent past helped companies strengthen their market presence. For example, In January 2019, Eris Lifesciences and Medtronic entered a collaboration for a diabetes monitoring initiative in India. Medtronic announced its plan to introduce its latest FDA approved Guardian Connect device for patients in India. Eris may provide the device at clinics and healthcare delivery units under its patient care initiative. Guardian Connect is a smart continuous glucose monitoring system connected with smartphone displays for a real-time data viewing of glucose levels, without a separate hardware monitor.
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