Market Highlights
A number of devices for testing the glucose level in the blood are available in the market such as invasive glucose monitoring devices, continuous glucose monitoring devices (CGM), and flash glucose monitoring devices. These devices are designed according to the type of diabetes, which help to identify the blood glucose level within the specified target range and hence help you to track your diet accordingly. Growing awareness regarding the devices in developing countries has fueled the demand for these devices in Asia Pacific region.
According to the American Diabetes Association, the blood glucose levels for an adult without diabetes is below 100 mg/dl before meals and fasting, and is less than 140 mg/dl two hours after a meal.
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Diabetes is one of the leading causes of premature death and disability. It can be managed effectively if it diagnosed at early stage. However, if left untreated, it can lead to various complications such as heart disease, stroke, kidney damage, and nerve damage.
The Asia Pacific blood glucose monitoring market is expected to grow at a CAGR of 10% during the forecast period 2017-2021.
Regional Analysis
China dominates the Asia Pacific blood glucose monitoring market owing to well-developed technology, increasing patient population with diabetes, high health care spending, and increasing government support for research & development. According to WHO, 110 million people have with diabetes in China.
India is the second leading country having a large number of diabetic patient population in Asia Pacific. According to International Diabetes Federation, over 69.1 million people in 2015 had diabetes in India. Diabetes is one of the major diseases in India. Over 50 million people have diabetes in India.
Furthermore, countries such as Japan, Australia, and the Republic of Korea are showing a considerable growth in the blood glucose monitoring market.
However, increasing awareness, and development of the treatment technology is fuelling the demand for the blood glucose monitoring devices in countries like South Korea and India.
Segmentation
The blood glucose monitoring devices market is segmented on the basis of product type, application, and end user. On the basis of the product type, it is segmented into invasive glucose monitoring devices, continuous glucose monitoring devices (CGM), flash glucose monitoring devices, and others. On the basis of the application, it is segmented into type 1 diabetes, type 2 diabetes, and others. On the basis of the end user, it is segmented into diagnostic centers, hospitals, clinics, research centers, and home care diagnostics.
Key Players
Some of the key the players in the market are Abbott Laboratories, Arkay, Inc., Bayer Healthcare AG, F. Hoffmann-La Roche, Goldsite Diagnostics Inc., GlySure Ltd, Sphere Medical, Dexcom, Inc., and LifeScan.
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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 are further categorized into the self-monitoring blood glucose devices [(SMBG) segmented into glucometer devices, test strips, and lancets (which are also studied by their usage in hospital and home use, individually)] and continuous glucose monitoring [(CGM) devices segmented into sensors and receivers].Key Market Trends - Self-monitoring Blood Glucose Devices Have High DemandAlthough 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 sophistications 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.
The further segmented market of SMBG uncovers the following understanding, that disposable consumables (test strips and lancets) occupy the largest market share compared to glucometer devices.
The cost factor is a major concern for the low growth of CGM in the Asia-Pacific market.China Leading the Asia-Pacific MarketChina is facing the largest diabetes epidemic in the world, with around 11% of its population suffering from metabolic illness, while nearly 36% are pre-diabetic.In 2018, 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.
