China Continuous Glucose Monitoring Devices Market Pegged for Robust Expansion by 2027 Covid-19 Analysis

Diabetes is one of the most prevalent diseases in the world. As stated by the International Diabetes Federation in November 2019, around 463 million adults in the age group of 20 to 79 years are diagnosed with diabetes in 2019, and it is estimated that the total diabetes population will reach nearly 700 million by 2045 globally. Continuous glucose management devices play a very important role in maintaining and monitoring the glucose equilibrium of the body and the increasing adaptability of these devices, coupled with rising prevalence of diabetes is expected to boost the demand for continuous glucose monitoring devices.

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The China continuous glucose monitoring devices market size is estimated to be valued at US$ 78.2 Mn in 2019 and is expected to exhibit a CAGR of 22.8% over the forecast period (2019–2027).

Continuous glucose monitoring (CGM) devices provide insights about glucose levels of diabetic patients throughout the day. CGM devices are mostly used by patients with type 1 and type 2 diabetes for better glucose control to improve the health and quality of life. Moreover, the integration of smartphone for easy diabetes management and cloud-based data storage are key features of the currently available CGM devices which have contributed to the drastic adoption of the CGM systems. The CGM devices display a complete picture of glucose trends with a graphical display and customizable alerts to indicate the disturbances in glucose status.

The major factors driving growth of the continuous glucose monitoring devices market include rapid technological advancement in CGM devices along with increasing adoption of inorganic growth strategies such as collaborations and agreements to develop novel CGM devices in the market is expected to drive the market growth over the forecast period. For instance, in September 2019, Medtronic Plc. collaborated with Novo Nordisk to provide integrated digital solutions for people with diabetes. Medtronic and Novo Nordisk are collaboratively developing solutions to integrate insulin dosing data from Novo Nordisk’s smart insulin pens with Medtronic’s continuous glucose monitoring (CGM) solutions such as the Guardian Connect system.

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