Market Trends of India Blood Glucose Monitoring Industry
The Self-monitoring Blood Glucose Devices Segment is Expected to Hold the Prominent Share of the Market
Self-monitoring blood glucose (SMBG) devices are excellent for patients to independently check their blood glucose levels. They are preferred ways to confirm and appropriately treat abnormal sugar conditions. Moreover, these devices offer great flexibility in testing and are used for adequate blood glucose monitoring. In addition, the market participants are undertaking several strategic initiatives to bolster their revenue generation in India. These factors are projected to support segment expansion over the study period.
The high adoption of self-monitoring blood glucose devices among the Indian population, the quick turnaround time from these devices, and the high preference of healthcare professionals are vital factors supporting segment growth in the market studied. For instance, according to an article published in Diabetes Therapy in May 2022, self-monitoring of blood glucose (SMBG) is advised by several guidelines in India, including those from the Indian Council of Medical Research (ICMR). In addition, according to the source mentioned above, the guidelines for managing type 2 diabetes mellitus (T2DM) suggest that SMBG is beneficial for all people with diabetes (PwD) to improve diabetes management, all PwD who are on insulin therapy, patients at risk of ketosis or recurring hypoglycemia, individuals with hypoglycemia unawareness, and in instances requiring tight glycemic control, such as during pregnancy, acute illness, or the presence of complications. Thus, due to the significant guidelines by medical authorities for SMBG, it is projected to support segment expansion over the study period.
Several initiatives, such as manufacturing expansion and agreements undertaken by market players, are further projected to spur segment growth over the study period. For instance, in May 2023, Roche Diabetes Care India (Roche) started manufacturing a self-blood glucose monitoring device, 'Accu-Chek Active,' in India. This initiative aligns with the company's strategy to enhance access to diabetes care and address the increasing demands of the Indian market.
Thus, the high demand for SMBG devices, several advantages associated with them, and several strategic initiatives undertaken by market players are projected to spur segment expansion over the study period.
The Hospital/Clinical Usage Segment is Expected to Witness the Highest Growth Rate Over the Forecast Period
Hospitals are among the most common places where blood glucose monitoring devices are employed to monitor glucose levels for different types of patients, including critically ill patients. In developing countries like India, hospitals and clinics provide affordable care to diabetic patients, which leads to the increased adoption of blood glucose monitoring devices in healthcare facilities. The clinics and hospitals segment in the blood glucose monitoring market is also experiencing notable growth owing to specialized trained staff and government initiatives to support diabetes care in healthcare facilities.
The high adoption of blood glucose monitoring devices with advanced technology, such as artificial intelligence (AI), in hospitals, is supporting the segment's growth. For instance, according to an article published in the World Journal of Diabetes1 in May 2023, a study conducted by the Max Super Specialty Hospital, New Delhi, India, mentioned that AI-powered applications and devices are utilized in clinical settings for managing non-critically ill diabetic patients.
In addition, according to the source mentioned above, continuous blood glucose monitoring (CGM) devices like the Dexcom G6 feature automated insulin suspension through AI algorithms. Basal-IQ technology can predict when blood glucose levels will drop below set thresholds and enable insulin infusion adjustment as needed. Systems that regulate insulin infusion with CGM technology have demonstrated a significant reduction in hypoglycemic episodes in critically ill patients admitted to hospitals. Thus, the considerable usage of glucose monitoring devices for managing glucose levels in critically ill patients is projected to support segment growth.
Furthermore, various market player initiatives are expected to spur segment growth over the study period. For instance, in May 2022, MFine, India's digital health platform, unveiled a groundbreaking innovation that directly enables blood pressure and glucose monitoring through a smartphone. The vitals measurement feature of MFine was developed for two years, involving extensive AI research in collaboration with prominent hospitals and successful trials carried out with over 3,000 patients.
Thus, the significant usage of blood glucose monitoring devices in hospitals for critically ill patients and several strategic initiatives undertaken by market players, such as partnerships with hospitals for conducting clinical trials, are projected to spur segment expansion over the study period.
