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The market is segmented by component (Glucometer Device, Test Strips, and Lancets), and geography.
2018 - 2026
The Asia-Pacific self-monitoring blood glucose devices market is anticipated to reach above USD 2.6 billion by 2025. Self-monitoring blood glucose (SMBG) devices markets across the Asia-Pacific are still in their growing phases. Approximately 10% of the diabetes population, in the Asia-Pacific region, are type-1 diabetic and 90% are type-2 diabetes patients. Type-1 patients need to take insulin throughout their life, along with maintaining a healthy diet and regular physical exercise. Type-2 patients need to eat healthily, be physically active, and take a regular test to check their blood glucose level. They may also need to take oral medication and insulin to control the glucose levels in the blood. Diabetes, as a condition, has many complications associated with it, including diabetic ketoacidosis and non-ketotic hyperosmolar coma. Serious long-term complications include heart disease, stroke, kidney failure, foot ulcers, and damage to the eyes. To avoid these complications, the patients need to regularly monitor their blood glucose levels to keep their glucose levels in control and hence, patients check their blood glucose levels with the help of glucometers and test strips.
The market is segmented by component (Glucometer device, Test Strips, and Lancets), and by geography. The study provides a detailed analysis on the demand and trends of the Self-monitoring blood glucose devices in the Asia-Pacific region along with country-wise size, share, and forecast.
|Self-monitoring Blood Glucose Devices|
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The Glucometer Devices market is expected to see high sales in the coming years, owing to the rising awareness and innovations associated with the glucometer. Technological advancements in glucometer devices will support the growth of the glucometer segment. Glucometer companies designing smart glucometer devices that are now connected to mobile devices help diabetes patients, their parents, or friends to know their health condition in critical times immediately. Even the companies with mobile apps like, Roche’s Mysugar logbook app, and the companies that don’t have their mobile app are trying to manufacture glucometers, such that they can function with all the diabetes mobile applications. The Arcadia Group designed smart glucometer devices that are connected to mobile devices created by Aggamatrix. For this, both the companies in 2018, Aggamatrix and Arcadia, got into an agreement.
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The market in China is expected to grow and register a CAGR of 7.48% during the forecast period. In China, about 123 million patients were suffering from diabetes mellitus in 2019, with a prevalence rate of 11.2% among adults. Of the 123 million diabetic patients, 12.18 million were type-1 patients and 111.42 million were type-2 patients. These numbers are expected to increase during the forecast period. China holds the highest market share in the Asia-Pacific glucometer devices market. In China, due to the lifestyle and food habits, blood glucose fluctuations among insulin users are frequent from time to time. China is a mature market with the associated challenges of slow economic growth and ageing population. In 2019, in the Chinese blood glucose monitoring devices market, the consumables accounted for 87.5%, of which, 85.68% of the market share was held by test strips and the 14.3% was occupied by lancets.
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The Asia-Pacific self-monitoring blood glucose devices market is fragmented with few major manufacturers gaining presence in major countries of the Asia-Pacific market, while the remaining market comprises of other local or region-specific manufacturers. Mergers and acquisitions that happened between players in the recent past helped the companies to strengthen their market presence. For instance, in 2018, in South Korea, Arkray started the Development Center in Gunpo to develop new systems for Arkray’s main business of manufacturing self-monitoring blood glucose meters, test strips, and lancets. Some of the prominent players in the market are F. Hoffmann-La Roche AG, Abbott, Ascencia Diabetes Care, and I-Sens among others.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Self-monitoring Blood Glucose Devices
5.1.1 By Component (Value and Volume, 2012-2025)
18.104.22.168 Glucometer Devices
22.214.171.124 Test Strips
5.2 By Geography
5.2.1 Asia-Pacific (Value and Volume, 2012-2025)
126.96.36.199.1 By Component (Glucometer Device, Test Strips, Lancets)
188.8.131.52 South Korea
184.108.40.206.1 By Component (Glucometer Device, Test Strips, Lancets)
220.127.116.11.1 By Component (Glucometer Device, Test Strips, Lancets)
18.104.22.168.1 By Component (Glucometer Device, Test Strips, Lancets)
22.214.171.124.1 By Component (Glucometer Device, Test Strips, Lancets)
126.96.36.199.1 By Component (Glucometer Device, Test Strips, Lancets)
188.8.131.52.1 By Component (Glucometer Device, Test Strips, Lancets)
184.108.40.206.1 By Component (Glucometer Device, Test Strips, Lancets)
220.127.116.11.1 By Component (Glucometer Device, Test Strips, Lancets)
18.104.22.168.1 By Component (Glucometer Device, Test Strips, Lancets)
22.214.171.124 Rest of Asia-Pacific
126.96.36.199.1 By Component (Glucometer Device, Test Strips, Lancets)
6. MARKET INDICATORS
6.1 Type 1 Diabetes Population (2012-2025)
6.2 Type 2 Diabetes Population (2012-2025)
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.2 F. Hoffmann-La Roche AG
7.1.3 Johnson & Johnson
7.1.5 Ascensia Diabetes Care
7.1.7 Bionime Corporation
7.1.12 Morpen Laboratories
7.1.13 Rossmax International
8. MARKET OPPORTUNITIES AND FUTURE TRENDS