Market Trends of Japan Continuous Glucose Monitoring Devices Industry
The Durables Segment is Expected to Witness the Highest Growth Rate Over the Forecast Period
A transmitter is a component of a sensor that sends the blood glucose levels to the reader, receiver, or smartphone app. Receivers are devices that receive data from transmitters and display the results on different user interfaces. The way these components of CGM devices work varies according to their manufacturers. These devices can be visible and may be required to be placed on the skin. Transmitter batteries may be rechargeable or disposable. The market segment is expected to witness growth as a result of the growing use of CGM devices among the diabetic population, growing underlying causes resulting in diabetes, market availability of these products, advantages offered by these durables, and surge in awareness regarding the use of CGM devices among the Japanese population.
Diabetes has been identified as a healthcare priority by the Japanese Ministry of Health, Labour, and Welfare. The high prevalence of type 2 diabetes is associated with a significant economic burden. Costs increase with an increasing number of complications. Well-organized medical insurance systems cover all medical fees for diabetes mellitus, and diabetics can visit doctors freely in Japan.
Rising diabetes prevalence in Japan driving the market in the forecast year
The type 1 diabetic population in Japan is expected to increase, registering a CAGR greater than 0.4% over the forecast period.
There has been a rapid increase in the growth of diabetes in Japan. As per the IDF 2021 estimates, 11 million adults in Japan have diabetes. The objectives of diabetes management are to improve metabolic dysfunctions resulting from hyperglycemia to prevent the development or progression of diabetic complications and conditions associated with diabetes, and to enable affected individuals to maintain their quality of life and life expectancy at a level comparable to those in healthy individuals.
The Japan Diabetes Society (JDS) has set an HbA1c control target of 'less than 7.0%.' At the same time, treatment guidelines developed by the JDS recommend that the general treatment target for HbA1c should be individualized according to treatment risks and patient characteristics.
As the prevalence of diabetes increases, the condition itself and the associated complications generate a considerable and increasing economic burden on the healthcare system and society. Japan is reflecting this trend, facing a growing prevalence of T2D and T1D in the population, with an overall diabetes prevalence rate of 9.7%, as per the data published by a Kobe University study in February 2023. The potential opportunities that diabetes could generate, both in a present and future setting, are profitable for all stakeholders, ultimately creating numerous possibilities for the companies operating within the market.
Hence, the demand for continuous glucose monitoring devices and their adoption rate is also increasing. These factors are expected to drive the market studied.
