Asia-Pacific Self-Monitoring Blood Glucose Devices Market Size

Asia-Pacific Self-Monitoring Blood Glucose Devices Market Analysis

The Asia-Pacific Self-Monitoring Blood Glucose Devices Market size is estimated at USD 2.53 billion in 2024, and is expected to reach USD 3.30 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).

According to International Diabetes Federation (IDF), 90 million adults (20-79) are living with diabetes in the IDF South-East Asia (SEA) Region. This figure is estimated to increase to 113 million by 2030 and 152 million by 2045 and 206 million adults (20-79) are living with diabetes in the IDF Western Pacific Region which is estimated to increase to 238 million by 2030 and 260 million by 2045. 

The main diagnosis for diabetes patients is imbalances in blood glucose levels, which are not in compliance with the standard blood glucose levels. The general lab diagnostic tests can only help to diagnose the disease by physicians. Patients with more fluctuations in glucose levels need to get it checked every day. Patients administering insulin need to check their blood glucose levels frequently, adjust the doses of insulin, or change the medication, if necessary, which is only possible with the use of self-monitoring blood glucose devices.

Diabetes mellitus has been of wide concern with its high prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments. The market players are adopting various strategies such as collaborations, partnerships, mergers, acquisitions, and expansions to increase market share. For instance, in August 2021, FIND announced that agreements were signed with i-SENS, Inc. (Seoul, South Korea) and SD BIOSENSOR, Inc. (Suwon-si, South Korea) to increase low- and middle-income countries' access to blood glucose test strips by improving affordability.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.