Market Trends of Asia-Pacific Blood Glucose Monitoring Industry
Self-monitoring Blood Glucose Devices Accounted for a Major Market Share in the current year
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 75% of the market share in the Asia-Pacific blood glucose monitoring market. Based on the component, 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.
The diabetes market is expected to increase at a high rate in these two countries during the forecast period. Although CGM provides real-time patient blood glucose data, 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. When a patient uses a blood glucose meter to check their levels, this is known as self-monitoring blood glucose (SMBG). The best method for diagnosing and treating hypoglycemia is SMBG. It can offer feedback on the effects of programs promoting healthy behavior and antihyperglycemic drug therapies.
Around 227 million individuals in the Asia-Pacific region contain type 2 diabetes, and nearly half of them are misdiagnosed and uninformed that they may experience long-term consequences, according to the OECD iLibrary. According to data from the International Diabetes Federation, the number of adults in South-East Asia (SEA) with diabetes is expected to rise from 90 million in 2021 to 113 million in 2030 and 152 million in 2045.
China Accounted for a Major Share in the Asia-Pacific Market in the current year
China is facing the largest diabetes epidemic in the world, with around 10% of its population suffering from metabolic illness, while nearly 37% are pre-diabetic. In current year, 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 12 million people are with type-1 diabetes, and 114 million people are with type-2 diabetes. Type 1 diabetes can be characterized as insulin-requiring.
In contrast, Type 2 diabetes can be characterized as insulin-dependent diabetes, and type-1 diabetes patients need to check their blood glucose levels frequently, driving the China blood glucose devices market. The largest market share and the contributor to the global diabetes medicine market are both held by China. There are now a lot more companies in the nation making generic medications. The dominant international businesses in the sector under study are also up against fierce regional rivalry.
Modern continuous glucose monitoring systems may download the data and display patterns in blood glucose levels, or they can show glucose levels in real-time on receiver displays. With new technologies, such as mobile phone integration, continuous glucose monitoring devices are becoming more affordable, projected to drive the market.
