Press release
Asia Pacific Continuous Glucose Monitoring (CGM) Market Size To Reach New Heights By 2031 | DexCom, Inc., Medtronic plc,
Continuous Glucose Monitors (CGM) are devices used for monitoring blood glucose continuously. The market is expected to be driven by the increased awareness among people towards monitoring and preventive health. Furthermore, surge in diabetic population are also estimated to fuel the market growth.
Despite the driving factors, inaccurate and expensive systems are also expected to hinder the market growth. Also, inadequate reimbursement facilities are anticipated to act as a barrier for the market growth.
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Growth Influencers:
Surge in diabetic population
Increasing prevalence of diabetes is also leading to surge in the diabetic population, which is boosting the market growth. According to the International Diabetes Federation (IDF), as of November 2019, around 88 million adults in South East Asia region were suffering from diabetes. This number was estimated to reach about 153 million by 2045. Therefore, surge in the diabetic population is expected to boost the demand for continuous glucose monitors, hence fuelling the market growth.
Segments Overview:
The Asia Pacific Continuous Glucose Monitoring (CGM) market is segmented into component, demographics, and end user.
By Component,
Sensors
Transmitters and Receivers
Integrated Insulin Pumps
Others
The sensors segment is estimated to hold the largest market share of about 44% owing to the increasing technological advancements. The transmitters and receivers segment is expected to account for the second largest market share. They are the most durable component of the CGM device, which contributes to its market growth.
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By Demographics,
Child Population (14 Years)
The adult population segment is anticipated to hold the largest market share and is also expected to grow at the fastest growth rate of 12.49% over the projected period owing to high incidence rate of diabetes in adult population as compared to the child population.
By End User,
Diagnostics/Clinics
ICUs
Home Healthcare
The ICUs segment is expected to account for approximately 45% of the home healthcare segments market size in 2021 and this share is expected to reach 41% in 2030. The home healthcare segment is estimated to witness significant growth owing to growing adoption of CGM devices in homes.
Country Overview
By country, the Asia Pacific Continuous Glucose Monitoring (CGM) market is divided into China, India, Japan, South Korea, Australia & New Zealand, Indonesia, ASEAN, and the Rest of Asia Pacific. ASEAN is further classified into Malaysia, Thailand, Philippines, Vietnam, Singapore, and Indonesia.
China segment is estimated to hold the largest market share of around 36.2% owing to the increasing prevalence of diabetes in China. According to the International Diabetes Federation (IDF), as of November 2019, there are around 114 million cases of diabetes in China.
On the other hand, India is expected to witness the fastest growth rate of 13.35% during the forecast period owing to the rising adoption technologically advanced products in the country for management of diabetes and other such chronic diseases.
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Competitive Landscape
Major players in the Asia Pacific Continuous Glucose Monitoring (CGM) market include Abbott Laboratories, DexCom, Inc., A. Menarini Diagnostics, Echo Therapeutics, Inc., GlySens Incorporated, Johnson & Johnson, Medtronic plc, Senseonics Holdings, Inc., F. Hoffmann-La Roche Ltd, and Other prominent players. The cumulative market share of the nine major players is over 78%.
These market players are engaged in mergers & acquisitions, collaborations, and new product launches, among other initiatives, to strengthen their market presence. For instance, in August 2021, Abbott received the U.S. FDA approval for the Freestyle Libre 2 iOS application, which is compatible with iPhones. This provided a comprehensive digital offering for its FreeStyle Libre 2 integrated continuous glucose monitoring (iCGM) system.
The Asia Pacific Continuous Glucose Monitoring (CGM) market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Asia Pacific Continuous Glucose Monitoring (CGM) market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The Asia Pacific Continuous Glucose Monitoring (CGM) market report answers questions such as:
What is the market size and forecast of the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What are the inhibiting factors and impact of COVID-19 on the Asia Pacific Continuous Glucose Monitoring (CGM) Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What is the competitive strategic window for opportunities in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What are the technology trends and regulatory frameworks in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What is the market share of the leading players in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What modes and strategic moves are considered favorable for entering the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
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