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.
Some of the factors driving the growth of the market are:
The market is constrained by the following factors:
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:
Key Deliverables in the Report
Covering 3 categories, 8 segments across 25 countries - offering over 8,600 data points
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