The Asia-Pacific glucose monitoring devices market is projected to reach USD 4.13 billion by 2021, growing at a CAGR of 7.88% during the forecast period from 2016 to 2021.
Asia-Pacific Glucose Monitoring Devices Market-Market Dynamics
Asia-Pacific is at the forefront of the diabetic epidemic with more than 110 million people suffering from diabetes in 2013 and this number is expected to increase in the coming years. 3.8% of the total APAC population was suffering from diabetes in 2015. With the increasing rate of diabetes cases, self-monitoring with glucose meters and strips has become an important aspect of diabetes care and management.
Drivers
Some of the factors driving the growth of the market are:
- Increasing technological innovations in diagnosis and monitoring of diabetes
- Growing incidence of people suffering from diabetes
- Early detection of hypo- and hyperglycemic diabetes
- Increased demand for continuous glucose monitoring devices
Restraints
The market is constrained by the following factors:
- High cost associated with diagnosis and treatment
- Reimbursement issues
- Patent expiry
The Asia-Pacific glucose monitoring devices market is segmented into blood glucose meters, blood glucose testing strips, lancets, and continuous glucose monitoring devices. By geography, the market is segmented into India, China, and Japan. India and China are the growing markets because of their increasing population.
Self-Monitoring Blood Glucose (SMBG) markets across Asia Pacific are still in the growing phase. Mature markets include Singapore, Hong Kong, South Korea, and Taiwan, which have well-defined hospital market segments and operate through large-scale tenders for the purchase of strips. In China, the market size for self-monitoring blood glucose is projected to reach USD 25.2 million by 2019. The market is driven by the increasing diabetic population and continuous innovations in the diagnosis and treatment of diabetes. The South Korean market is the most competitive, with a significant number of market players and strong local competition.
Roche Diabetes Care (RDC) retains the market’s leading position across Asia-Pacific with a market share of 46.2%, followed by Life Scan, which occupies the second spot in the market.
Some of the key players in the market are:
- Abbott Laboratories
- Apex Biotechnology Corp.
- Arkray, Inc.
- LifeScan
- Roche
- Ypsomed AG
Key Deliverables in the Report
- Market analysis for the Asia-Pacific glucose monitoring devices market, with region-specific assessments and competition analysis.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the Asia-Pacific glucose monitoring devices market on both global and regional scale.
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
- Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
