The International Diabetes Federation (IDF) estimated that 80% of individuals with diabetes live in low- and middle-income countries, and of the total, more than 60% live in Asia, with almost one-third in China. The study of Asia Pacific Continuous Glucose Monitoring Market was undertaken by Astute Analytica, and the market is expected to witness a major rise in its revenue from US$ 1,081.6 Mn in 2021 to US$ 2,967.2 Mn by the end of 2030. The market is registering a CAGR of 12.22% over the forecast period.
Continuous glucose monitoring automatically tracks blood glucose levels, also called blood sugar, throughout the day and night on a continual basis by insulin-requiring people with diabetes, for instance, people with type I, type II diabetes or other types of diabetes. The user can see his glucose level anytime at a glance. CGM systems helps in better management of glucose levels every day, have fewer low blood glucose emergencies, and need fewer finger sticks. A continuous glucose monitor consists of three parts: a small electrode placed under the skin, a transmitter sending readings at regular intervals (ranging from every 5 to 15 min), and a separate receiver.
The market is majorly driven by factors such as increased awareness among people towards monitoring and preventive health and surge in diabetic population. Rising disposable income in Asia Pacific countries followed by the growing awareness about the advantages of good healthcare systems and healthier lifestyles is accelerating market growth. Further, the increasing prevalence of diabetes in Asia is another factor propelling the market growth. In 2019, the International Diabetes Federation (IDF) estimated that 463 million people had diabetes worldwide, and by 2045, this was predicted to rise to 700 million. Eighty percent of these live in low- and middle-income countries, and of the total, more than 60% live in Asia, with almost one-third in China. Major increases in the prevalence of diabetes have occurred in developing countries due to rapid and ongoing socioeconomic transition and will likely lead to further rises. The prevalence of both type 1 and type 2 diabetes (T2DM) has increased significantly during recent decades. The increasing prevalence of diabetes can be attributed to a multitude of interrelated factors, including rapid urbanization, sedentary lifestyles, unhealthy diets, tobacco use, and increasing life expectancy. Further, diabetes is a growing challenge in India with estimated 8.7% diabetic population in the age group of 20 and 70 years. However, CGM devices can be expensive, and the results might not be accurate as a fingerstick check.
Key Insights of the Report:
Key Takeaways from the Asia Pacific Continuous Glucose Monitoring Market Report:
Competitive Landscape
Many companies are operating in the Asia Pacific Continuous Glucose Monitoring (CGM) Market to provide various products. The key market players are Medtronic Plc, Abbott Lab, DexCom Inc., Senseonics Holding Inc., F. Hoffmann-La Roche Ltd., and Johnson & Johnson among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
The following are the different segments of the Asia Pacific Continuous Glucose Monitoring (CGM) Market:
By Component segment of the Asia Pacific Continuous Glucose Monitoring (CGM) Market is sub-segmented into:
By Demographics segment of the Asia Pacific Continuous Glucose Monitoring (CGM) Market is sub-segmented into:
By End user segment of the Asia Pacific Continuous Glucose Monitoring (CGM) Market is sub-segmented into:
By Country segment of the Asia Pacific Continuous Glucose Monitoring (CGM) Market is sub-segmented into:
Continuous glucose monitoring automatically tracks blood glucose levels, also called blood sugar, throughout the day and night on a continual basis by insulin-requiring people with diabetes.
A continuous glucose monitor consists of three parts: a small electrode placed under the skin, a transmitter sending readings at regular intervals (ranging from every 5 to 15 min), and a separate receiver.
China has the highest prevalence of diabetes in Asia Pacific.
The Asia Pacific Continuous Glucose Monitoring Market was valued at US$ 1,081.6 Mn in 2021.
The Asia Pacific CGM market is projected to expand at a CAGR of 12.22% over the forecast period.
The market is majorly driven by factors such as increased awareness among people towards monitoring and preventive health and surge in diabetic population.
CGM devices can be expensive, and the results might not be as accurate as a fingerstick check.
Sensors dominate the market in 2021.
Home healthcare segment are the highest end-users in the Asia Pacific Continuous Glucose Monitoring Market in 2021.
China dominates the Asia Pacific CGM market.
India records the highest CAGR in the Asia Pacific CGM market.
The key players in the Asia Pacific CGM market are Medtronic Plc, Abbott Lab, DexCom Inc., Senseonics Holding Inc., and Johnson & Johnson among others.
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| Report ID: AA0522220 
