An outlook of the Asia-Pacific Self-Monitoring Blood Glucose Devices Market

Posted by Andrew Thomas on October 18th, 2019

China and India have been placed in the leading position inside the Asia-Pacific Self-Monitoring Blood Glucose Devices Market, especially where continuous glucose monitoring devices are concerned. Initially, it was mostly Europe that was the biggest market, but new data shows that the Asia-Pacific region has a higher CAGR.

Factors behind this surge in the growth include the economic developments, changes in the average consumer lifestyles and patient awareness of how to manage blood glucose, especially among patients. Here, one can even include things like increasing market penetration by an even bigger number of global players and increasing healthcare expenditure to this as well. So, the APAC region does have a favorable outlook because of this and is set to grow.

In particular is the increased use of CGMS devices that appear to be more popular over conventional devices, owing to their being more user-friendly, delivering accurate details, and real-time trends. The devices are used in managing diabetes, patients with diabetes I and reducing the complexities connected with diabetes.

Inside this region, the home settings segment is expected to expand at a CAGR of 6.82% owing to the ease of use create through the decentralization of these devices, their portability, and user-friendliness. The hospitals' sector the next sector of importance and account for 7% of the total demand probably because many patients still need to have a very accurate reading done for diagnostics tests – a reason why this segment exhibits a CAGR of 4.78%.        

Technological innovations also have a lot to do with it as well, which makes it possible for these devices to detect hypoglycemic and hyperglycemic levels faster.    

Regardless of the kind of devices that are sold and used, the market and number of players inside the APAC region are very widespread. Some of the top companies include Wockhardt, Roche Holding, Abbott Laboratories, i-SENS, Terumo Medical.   

Even then, like all markets, this one has certain opportunities that are driving it forward and challenges that impede it when least expected.

One thing that is positive for this market is the number of investments that companies make in the research and development for blood glucose monitoring devices, both for improving the technology in self and continuous monitoring devices. As a result, there a host of devices being launched, making it better for diabetes sufferers to find a device that suits them and their budgets. Some examples of this include next-generation disposable continuous glucose monitoring devices that are disposable and the use of CGMS devices as a precursor for approval for acquiring artificial pancreas.

These are a few things working for this market, but there are a few problems involved as well. Such as the regulatory norms that each country inside the APAC region has, or how different and strict they are. What this results in is manufacturers needing to create a number of devices, with varying technology just to suit these variations the regulatory norms. As one can expect, the cost of each device increases as each device has different specifications and expiry dates.