Asia-Pacific Self-Monitoring Blood Glucose Devices Market

Posted by Andrew Thomas on October 25th, 2019

Certain devices used for measuring blood glucose levels are termed as self-monitoring. It is used by people who have diabetes, and who need to assess blood glucose periodically to prevent complications that could lead to high health care expenses.

SMBG or self-monitoring of blood glucose devices are easy to use and guarantee the accuracy of measurement results, irrespective of the location the person is in.

With such a device, the dosage of insulin can be administered at the right time. If this check isn’t done regularly, the person enters a state of Hyperglycemia – and effect created when there is increased blood sugar. Long term effects of Hyperglycemia include blindness, heart attacks, nerve damage, stroke, kidney diseases.

General insights on the Asia-Pacific Self-Monitoring Blood Glucose Devices Market say that China has over 114 million people suffering from diabetes, while India has another 72 million and accounts for half of the total diabetic population in this region.    

Diabetes is a condition that’s found all over the world, but the Asia Pacific region has a fast-growing SMBG market. Most of the growth can be attributed to an increased prevalence of diabetes in India, China and this is why these two countries are in the lead for this forecast period. This could be due to growing awareness about the usage, benefits of SMBG devices; and also due to lifestyle changes that have fostered the presence of diabetes and economic development.

There are other factors too, that are very different in India – and these are medical facilities, awareness programs, and cost-effective treatments for managing diabetes. China is expected to reach a CAGR of 6.62%; in India, healthcare initiatives and government programs will push this market at a CAGR of 6.46%.

Here, the use of GCMS is catching on over the glucose monitoring systems that are used conventionally as they are accurate, user-friendly.

Key leaders

The top players inside the Asia-Pacific region are Wockhardt, Roche Holding, Abbott Laboratories. i-SENS, Terumo Medical.

There aren’t a lot of players in the Indian market, making it is a commoditized market and most options are from the Chinese, Korean players. Overall, the market here will expand at a CAGR of 6.34% and factors that are critical for this growth are technological breakthroughs, rising obesity, and the increasing prevalence of diabetes.    

The segment that deals with testing strips have the highest market share of 81.64% due to the development of innovative testing strips. The glucometers segment will remain steady and will generate a 12% revenue as there is a wide range of devices being produced and that they have even more advantages over regular monitoring methodologies. This segment does have a low CAGR of 4.95% owing to the variations in results due to external and physiological factors.          

From the point of view of the end-users, the home settings segment will continue to exhibit a CAGR of 6.82% during the 2019-2024 period. This comes from the shift of medical services towards decentralized surroundings and the development of blood glucose monitoring devices that are both easy and portable. Hospitals will continue to generate 7% of the market share ad this segment will expand to a CAGR of 4.78%.