Exploring Growth Opportunities: China Continuous Glucose Monitoring Devices Market Analysis and Trends, Investment Plans, Size, Share, Forecast | Nemaura, STMicroelectronics, NXP Semiconductors, Qualcomm

Market Overview:

Continuous glucose monitoring (CGM) devices are medical devices used for monitoring blood glucose levels in people with diabetes. CGM devices help people with diabetes by measuring glucose levels every few minutes via a subcutaneous sensor. The data is stored and can be reviewed on a handheld monitor or other device.

The China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 million in 2023 and is expected to exhibit a CAGR of 22.8 % during the forecast period (2023-2030).

Market Dynamics:

The China continuous glucose monitoring devices market is witnessing high growth owing to increasing prevalence of diabetes in China and growing awareness regarding diabetes management. According to International Diabetes Federation, in 2021 approximately 151 million adults were living with diabetes in China. Additionally, improved accuracy and comfort of CGM devices as compared to self-monitoring blood glucose systems is also fueling the market growth. Lower costs of CGM devices due to local manufacturing is further increasing adoption rates. However, strict regulatory framework for approval of new CGM systems may hamper market growth during forecast period.

Rising Prevalence of Diabetes in China is a Key Market Driver

China has seen a rapid rise in the incidence of diabetes over the past few decades due to changing lifestyle and diet. According to estimates, over 113 million adults were affected by diabetes in China as of 2019. This high disease burden has compelled authorities to focus on better management of diabetes and its complications. Continuous glucose monitoring devices help optimize glucose control through frequent monitoring of interstitial glucose levels. As more Chinese adults are diagnosed with diabetes, the need for effective self-monitoring tools like CGMs will continue to increase in the coming years.

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟒𝟓 % 𝐎𝐅𝐅: https://www.coherentmarketinsights.com/promo/buynow/3675

Increasing Healthcare Expenditure and Focus on Chronic Disease Management is another Major Driver

The Chinese government has been taking initiatives to strengthen its healthcare system through higher public funding. Healthcare expenditure as a percentage of GDP has grown from 5-6% in the early 2000s to over 6% currently. A part of this increased allocation is focused on managing chronic illnesses like diabetes in a better manner. Government programs promote use of advanced technologies and digital health solutions for conditions requiring long-term care. This overall healthcare spending growth and policy support augur well for the demand of CGMs in the Chinese diabetes management market.

Lack of Reimbursement Coverage for CGMs Acts as a Major Market Restrain

While prices of CGMs have declined over the past decade, these systems remain relatively expensive for many Chinese patients. Most private health insurers provide inadequate or no coverage for CGMs and related supplies. Even public insurers have limited or no reimbursement policies for CGMs currently. The high out-of-pocket costs deter regular adoption of CGMs. Unless reimbursement improves through insurer negotiations or mandated coverage, affordability will continue to hamper market growth potential in the near future.

Growing Telehealth and Digital Health Offers Significant Market Opportunity

Advanced digital technologies like telehealth, mHealth, artificial intelligence and cloud computing are gathering mainstream adoption in China's healthcare sector. CGMs allow remote glucose monitoring and generate massive datasets on diabetes status. These capabilities align well with China's national initiatives to develop "Internet Plus Healthcare". Leveraging telehealth networks, CGM data can be seamlessly integrated with patient health records. This opens up opportunities for cloud-based diabetes management programs supported by CGMs. As telehealth becomes increasingly commonplace, associated opportunities for CGMs will also amplify.

Emergence of Hybrid CGM Systems is an Important Market Trend

Traditional CGMs require regular calibration with fingerprick blood glucose readings. However, next-gen "hybrid" or "flash" CGMs overcome this limitation through enhanced sensor technology. They provide readings without fingersticks while extending wear time to 7-14 days. They also come with smartphone connectivity for remote data sharing. This combination of features makes hybrid systems more user-friendly and preferable to conventional CGMs or self-monitoring blood glucose systems. Their emergence addresses prior limitations and is expected to drive the future trajectory of China's CGM market.

List of TOP Players in Market Report are: -

◘ Medtronic PLC
◘ Abbott Laboratories
◘ Medtrum Technologies Inc.
◘ Senseonics
◘ Nemaura
◘ STMicroelectronics
◘ NXP Semiconductors
◘ Qualcomm
◘ Taiwan Semiconductor Manufacturing Company Limited
◘ GE Healthcare
◘ Microchip Technology Inc.
◘ Texas Instruments Inc.
◘ Micron Technology Inc.
◘ Renesas Electronics Corporation
◘ Toshiba Corporation.

Note: Major Players are sorted in no particular order.

Market Detailed Segmentation:

By Component:

Transmitters
Receivers
Insulin Pumps
Sensors

By End User:

Hospitals & Clinics
Homecare Settings
Others

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2021
The base year for estimation - is 2021
Estimated Year - 2023
Forecast period** - 2023 to 2030

𝐁𝐮𝐲 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐆𝐞𝐭 𝐔𝐩𝐭𝐨 𝟒𝟓 % 𝐎𝐅𝐅: https://www.coherentmarketinsights.com/promo/buynow/3675

This China Continuous Glucose Monitoring Devices Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the China Continuous Glucose Monitoring Devices market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the China Continuous Glucose Monitoring Devices market, and what are the emerging Market applications and trends?

◈ What are the projections for the global China Continuous Glucose Monitoring Devices Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of China Continuous Glucose Monitoring Devices , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of China Continuous Glucose Monitoring Devices in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the China Continuous Glucose Monitoring Devices Market?

Summarized Extracts from TOC of Market Study

Chapter 1 China Continuous Glucose Monitoring Devices Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of China Continuous Glucose Monitoring Devices

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19's impact on the China Continuous Glucose Monitoring Devices industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe China Continuous Glucose Monitoring Devices Market Analysis by Countries

Chapter 9 Asia Pacific China Continuous Glucose Monitoring Devices Market Analysis by Countries

Chapter 10 Middle East and Africa China Continuous Glucose Monitoring Devices Market Analysis by Countries

Chapter 11 South America China Continuous Glucose Monitoring Devices Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

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