China's Growing Continuous Glucose Monitoring Devices

Sneha

China's Growing Continuous Glucose Monitoring Devices

Continuous glucose monitoring (CGM) devices are medical devices used by patients with diabetes to constantly check glucose levels in the blood without the need for finger pricking. CGMs work by inserting a small flexible filament under the skin that measures interstitial fluid glucose levels every few minutes. The data is sent wirelessly to a receiver or smartphone and displays the user's current glucose concentration as well as any trends indicating if levels are going up or down. Having constant real-time visibility into fluctuations helps people with diabetes better control their condition through proactive treatment.

Landscape in China

China has seen tremendous growth in its CGM in recent years driven by a large diabetic population and government support for new diabetes technologies. According to various reports, annual sales of CGM systems surpassed 35 million USD in 2020 compared to just 5 million USD in 2015. Domestic Chinese manufacturers have emerged as serious competitors to global leaders by developing their own China Continuous Glucose Monitoring Devices platforms and negotiating bulk contracts with hospitals and insurance providers nationwide. Key players such as Ypsomed, Roche, and Medtronic currently account for over 60% of China's CGM share but local upstarts are gaining ground rapidly.

Regulatory Approvals and Reimbursement

Obtaining regulatory approval and securing government reimbursement are essential for medical device firms looking to succeed in China's CGM landscape. All CGM systems must first receive a Class III medical device license from the National Medical Products Administration before ing and sales. This involves rigorous clinical trials to prove safety and efficacy. Once approved, negotiations begin with the National Healthcare Security Administration to have the devices covered partially or fully by the national insurance scheme. Those that achieve wide coverage gain significant sales advantages over competitors with limited or no reimbursement access. More domestic CGM technologies have cleared these critical hurdles in recent years.

Leading Chinese Domestic Players

Several Chinese companies have released their own innovative CGM solutions to tap into rising demand.

- Deep Blue Technology: Based in Wuxi, Deep Blue produces the WatchOG glucose monitoring bracelet approved in 2019. It provides real-time readings through an app and goodAccuracy compared to international brands.

- TelCare: A Shanghai-based startup, TelCare received CFDA approval for its SmartGlucose CGM system in 2020 targeted at type 1 diabetes patients. The lightweight smart patch transmits to a companion app.

- Triage Technologies: Based in Beijing, Triage launched the MediSense Freedom CGM in partnership with Abbott. It features a small reusable transmitter granting wireless glucose readings to smartphones.

- QuanTech: Nanjing-based QuanTech released the QT-CGM professional CGM system in late 2020 for hospital and clinical use. The clip-on device transmits to a centralized monitoring hub.

These domestic players aim to provide more affordable, user-friendly CGM alternatives while meeting strict quality and safety standards. With support from government-backed programs, their shares will likely rise further over the next decade.

Future Growth Prospects

As life expectancies increase and diagnostic capabilities improve in China, the prevalence of diabetes and pre-diabetes has grown exponentially. Some projections estimate over 400 million patients by 2040, more than any other country. Meanwhile, clinicians and patients increasingly recognize the benefits of continuous monitoring technology versus finger pricking alone.

Going forward, the Chinese CGM is expected to grow at a 15% compound annual rate through 2027 according to industry analysts. This will be driven by expanded insurance coverage, more product approvals, and rising acceptance among younger demographics. Global medtech giants continue expanding local manufacturing while domestic innovators launch successive upgraded CGM systems. China's size and policy support make it an invaluable long-term growth for all continuous monitoring device companies worldwide.

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The China Continuous Glucose Monitoring Devices Market Is Driven By Increasing Prevalence Of Diabetes

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The increasing prevalence of diabetes in China, coupled with growing awareness regarding diabetes management, has augmented the demand for continuous glucose monitoring devices in the country. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176. Porter's Analysis Threat of new entrants: The China continuous glucose monitoring devices market has moderate threat of new entrants due to the increasing healthcare expenditures and rising disposable income of consumers. Competitive rivalry: The competition in the China continuous glucose monitoring devices market is high due to the presence of numerous national and international brands. Regional analysis The eastern region dominates the China continuous glucose monitoring devices market due to the growing diabetic population and increasing healthcare expenditures in this region.

China Continuous Glucose Monitoring Devices Market Is Estimated To Witness High Growth Owing To Growing Demand For Remote Patient Monitoring

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The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 Billion in 2024 and is expected to exhibit a CAGR Of 3. Porter’s AnalysisThreat of new entrants: The threat of new entrants is moderate in the China continuous glucose monitoring devices market. Key TakeawaysThe China Continuous Glucose Monitoring Devices Market Demand is expected to witness high growth over the forecast period driven by increasing diabetes prevalence. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 billion in 2024 and is expected to exhibit a CAGR of 3. Key players:Key players operating in the China continuous glucose monitoring devices market are Dexcom, Abbott, Senseonics, Medtronic and Novo Nordisk.

Continuous Glucose Monitoring Devices Market In China Is Estimated To Witness High Growth Owing To Increasing Prevalence Of Diabetes

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The global Continuous Glucose Monitoring Devices Market in China is estimated to be valued at US$ 176. However, increasing awareness about benefits of continuous glucose monitoring devices enhances loyalty among buyers. However, continuous glucose monitoring devices offer advanced features with continuous feedback. SWOT Analysis Strength: Continuous glucose monitoring devices offer real-time glucose monitoring without finger pricks, advanced diabetes management features and connectivity with smartphones. Key Takeaways The China Continuous Glucose Monitoring Devices Market Growth is expected to witness high growth during the forecast period of 2023 to 2030, growing at a CAGR of 5.

China Continuous Glucose Monitoring Devices Market Driven by Rising Prevalence of Diabetes in China

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The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 billion in 2024 and is expected to exhibit a CAGR of 3. Threat of new substitutes: The threat of new substitutes is low as continuous glucose monitoring offers better accuracy and real-time monitoring compared to alternatives. Key TakeawaysThe China Continuous Glucose Monitoring Devices Market Demand is expected to witness high growth. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 billion in 2024 and is expected to exhibit a CAGR of 3. Regional analysisThe Southern region dominates the China Continuous Glucose Monitoring Devices Market owing to increasing obesity rates and growing geriatric population suffering from diabetes. Key players Key players operating in the China Continuous Glucose Monitoring Devices Market are Dexcom, Abbott, and Senseonics.

Global China Continuous Glucose Monitoring Devices Market Is Estimated To Witness High Growth Owing To Increasing Incidence of Diabetes and Technological Advancements

savi jadhav 2023-08-23

The global China Continuous Glucose Monitoring Devices market is estimated to be valued at US$176. A) Market Overview:China Continuous Glucose Monitoring Devices are medical devices that continuously monitor and measure glucose levels in diabetic patients. B) Market Dynamics:The China Continuous Glucose Monitoring Devices Market is driven by two main factors. Competition from traditional glucose monitoring methods: Traditional glucose monitoring methods, such as blood glucose meters, still dominate the market and pose a threat to the adoption of continuous glucose monitoring devices. D) Key Takeaways:- The global China Continuous Glucose Monitoring Devices market is expected to witness high growth, exhibiting a CAGR of 22.

The China Continuous Glucose Monitoring Devices Market Growth Accelerated by Rising Prevalence of Diabetes

Niranjan Mardakar 2023-12-20

The growing prevalence of diabetes has led to a higher demand for continuous glucose monitoring in China. The China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176. Rising awareness of the benefits of continuous monitoring over finger prick methods is further expected to support strong market growth over the forecast period. Segment Analysis The Global China Continuous Glucose Monitoring Devices Market Size is segmented into professional CGM systems and personal CGM systems. The China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176. 4 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030.

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