Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) — The “Asia-Pacific Blood Glucose Monitoring Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” report has been added to ResearchAndMarkets.com’s offering.
The Asia-Pacific Blood Glucose Monitoring Market size is estimated at USD 4 billion in 2023, and is expected to reach USD 5.14 billion by 2028, growing at a CAGR of 7.69% during the forecast period (2023-2028).
Asia-Pacific has countries with the highest diabetic populations, such as China and India, with an average prevalence rate of more than 8.5%. Blood glucose monitoring devices are used for effective diabetes diagnosis and treatment. A rise in the diabetic population drives the market by increasing the use of blood glucose monitoring devices. Obesity is also considered one of the major factors contributing to the disease condition, mainly type 2 diabetes. Also, other factors such as technological innovations and advances provide convenience in measuring blood glucose levels. These devices help in the early detection of hypo- and hyperglycemic conditions, which tend to drive the market for glucose monitoring market.
APAC Blood Glucose Monitoring Market Trends
Self-monitoring Blood Glucose Devices Accounted for a Major Market Share in the current year
Although CGM is an advanced method for people living with diabetes to check glucose readings in real-time, SMBGs are the most preferred devices by patients in Asia-Pacific due to their economic affordability and lesser sophistication in usage when compared to CGM. The SMBG segment occupies more than 75% of the market share in the Asia-Pacific blood glucose monitoring market. Based on the component, disposable consumables (test strips and lancets) occupy the largest market share compared to glucometer devices. China and India rank high in terms of diabetic populations around the globe. The diabetes market is expected to increase at a high rate in these two countries during the forecast period. Although CGM provides real-time patient blood glucose data, its adaptability is very low in Asia-Pacific markets. The cost factor is a major concern for the low growth of CGM in the Asia-Pacific market. When a patient uses a blood glucose meter to check their levels, this is known as self-monitoring blood glucose (SMBG). The best method for diagnosing and treating hypoglycemia is SMBG. It can offer feedback on the effects of programs promoting healthy behavior and antihyperglycemic drug therapies.
Around 227 million individuals in the Asia-Pacific region contain type 2 diabetes, and nearly half of them are misdiagnosed and uninformed that they may experience long-term consequences, according to the OECD iLibrary. According to data from the International Diabetes Federation, the number of adults in South-East Asia (SEA) with diabetes is expected to rise from 90 million in 2021 to 113 million in 2030 and 152 million in 2045.
A selection of companies mentioned in this report includes
- Abbott Diabetes Care
- Johnson and Johnson (Lifescan)
- Ascensia Diabetes Care
- Agamatrix Inc.
- Bionime Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7m8t6g
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