The Asia-Pacific Diabetes Care Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Asia-Pacific Diabetes Care Devices Market is estimated to be USD 2.461 Billion and predicted to rise to USD 3.518 billion with a CAGR of 7.41%. The market is segmented by Diabetes Monitoring Devices (Blood Glucose Monitoring Devices, Test Strips, Lancets and Hemoglobin A1c Testing Kits, Continuous Glucose Monitoring Devices), Insulin Delivery Devices (Insulin Pens, Insulin Pumps, Jet Injectors and Insulin Syringes), and Diabetes Control Solutions. Further the market is also geographically segmented into China, India, Japan, Australia and Rest of Asia-Pacific.
The World Health Organization predicts the number of patients affected with diabetes will rise dramatically by the year 2025, by which time India and China may have at least 50 million people being affected with diabetes. The reason behind such an alarming number is lifestyle changes relating to changes in dietary habits and physical activity and diabetes risk, particularly in younger individuals, with the development of obesity. This is leading people to resort to diabetes care devices, thereby increasing the market growth. Also, Asia-Pacific region is highly indulged in innovation and technology. With this as a power, they are dedicatedly focusing on innovative products that help people in managing diabetes. Thus, the market is driven due to product innovation. But the main problem that is constraining the market here is low medical literacy, due to which the market hasn’t yet poised a stability.
The Asia-Pacific diabetes care device market is segmented by type and by country. By type the market has been segmented in to Insulin delivery devices, Diabetes monitoring devices and Diabetes Control Solutions. The products in each of these segments are segregated in the following way: Diabetes Monitoring Devices (Self-blood Monitoring Devices: Blood Glucose Monitoring Devices, Test Strips, Lancets and Hemoglobin A1c Testing Kits; Continuous Glucose Monitoring Devices), Insulin Delivery Devices (Insulin Pens, Insulin Pumps, Jet Injectors and Insulin Syringes) and Diabetes Control Solutions.
In Asia-Pacific region, the testing strips segment accounts for the largest share of the blood glucose monitoring devices market and the insulin pens segment accounts for the largest share of the insulin delivery devices market. The increasing adoption of insulin is contributing to the growth of this segment. Continuous blood glucose monitoring systems is the fastest-growing sub-segment of the blood glucose monitoring devices market.
Geographically Asia-Pacific diabetes care devices market has been segmented into China, India, Japan and South Korea. China holds the largest share with India and Japan following it. The Asia-Pacific region provides significant opportunities for the diabetes care devices with China and India being the most populous countries in this region, where there is a very high incidence of diabetes and other chronic diseases. There is a great scope for the companies to expand its market in the merging and untapped regions. The market is mainly dominated by companies like Roche Diagnostics, Johnson & Johnson, Abbott Laboratories, Becton-Dickinson and Novo Nordisk, Ypsomed AG, Medtronic plc, Insulet Inc. Terumo Corporation, Dexcom, Inc. (U.S.), and Tandem Diabetes Care, Inc.
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