Market Trends of India Diabetes Drugs and Devices Industry
The continuous Glucose Monitoring Segment is Expected to Witness the Highest Growth Rate Over the Forecast Period
The continuous blood glucose monitoring segment is projected to grow at a CAGR of around 11.93% during the forecast period.
According to estimates for 2022, people living in Indian cities and metropolitan areas will be more likely than ever to develop diabetes. This is partly because cities encourage lifestyles that can increase a person's total body mass index (BMI). A high BMI is a risk factor for diabetes. Type 2 diabetes is also on the rise in rural India. Diabetes is considered a new disease in rural areas and public understanding of the disease is poor.
This sensor device is a small electrode that measures the blood sugar level of diabetics. The sensor continuously measures glucose levels in the body through small threads inserted under the skin and records glucose levels. Within 5 seconds, the user can download the data stored in the sensor. The Indian continuous blood glucose monitoring device market considers the FreeStyle Libre Pro sensor (14-day run), Dexcom's G4 sensor (10-day run), Medtronic's Guardian sensor (7-day run), and fluorescence sensors. Dexcom continues to market the Dexcom G4 Platinum CGM system in India, while Dexcom G5 and G6 CGM technology are marketed in other countries. Dexcom planned to introduce a low-cost, small-size sensor developed in collaboration with the Verily Life Sciences division. The introduction of his low-cost CGM in the next few years and government support through subsidies for diabetes monitoring devices could allow the CGM device maker to enter the promising Indian market.
Rising diabetes prevalence
There are currently 82 million people suffering from diabetes in India and by 2027, almost 10% of the Indian population is expected to have diabetes. Obesity, especially central obesity, increased visceral fat due to lack of exercise, and intake of a diet high in calories, fat, and sugar are the main causes of diabetes in Indians. The most pervasive work culture in the country, which involves sitting in the same position for hours on end and eating fast food with little or no physical activity, is a major cause of the emergence of diabetes in the working-age population. This has led to a rapid increase in such diabetes. Diabetes cases in India.
In March 2022, the Indian Council of Medical Research-National Centre for Disease Informatics (ICMR-NCDIR), Bengaluru researchers said that THE PREVALENCE of diabetes and impaired fasting glucose is high among adults while the levels of awareness, treatment, and control are still low in India. According to AIIMS, the risk of fatal outcomes from COVID-19 is up to 50% higher in people with diabetes, than in those who do not have diabetes in India. Diabetes and high glucose levels are associated with increased complications, respiratory failure, and mortality in hospitalized patients with COVID-19.
According to an article published in THE HINDU, one in six people with diabetes in the world is Indian. According to this figure, the country is among the top 10 countries with the most diabetes and ranks second with an estimated 80 million people with diabetes. More than half of India's population is at risk of developing diabetes at some point in their lives, making the disease a major public health concern. He also observed an increase in the incidence of type 2 diabetes in rural areas of India. Diabetes is a disease with no cure. In our current arsenal, it is a disease that affects the patient for the rest of their lives. Between the ages of 30 and 90, people are exposed to significant economic, social, and psychological stress. According to all current guidelines in India, metformin should be the first-line oral antidiabetic drug at the onset of diabetes. The increasing diabetes prevalence and the above factors will likely drive segment growth over the forecast period.
