Asia Pacific Glucose Monitoring Device Market Research Report – Segmented By Device Type, Application & Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore, and Rest of APAC) - Industry Analysis, Size, Share, Trends and Growth Forecast (2024 to 2029)

Updated On: January, 2024
ID: 570
Pages: 140

APAC Glucose Monitoring Device Market Size (2024 to 2029)

The glucose monitoring device market in Asia is expected to reach USD 0.63 billion by 2029 from USD 0.44 billion in 2024, at a CAGR of 7.42% from 2024 to 2029. The Asia Pacific market is more attention-grabbing as it is at a growing stage and is estimated to lead the market in the future due to its large patient pool.

Glucose monitoring devices detect the sugar level in our blood. They are of several kinds, including a glucose meter, testing strips, and lancets. These devices consume less time than glucose testing by customary methods in laboratories. They can be controlled easily, as they are portable, so they are convenient to carry. They offer the facility of monitoring glucose levels in our blood as they test quantitatively. The glucose monitoring strip devices lead the market with the highest share and growth rate.

MARKET DRIVERS

The rising prevalence of diabetes across the Asia Pacific region is majorly contributing to the accelerated demand for glucose monitoring devices. The growing sedentary lifestyles and, unbalanced diet, hereditary cases are all inducing diabetes in most of the population, which will escalate the demand for glucose monitoring devices, leading to regional market share growth. Asian countries have the highest diabetic populations, whereas China and India have the largest populations, with an average prevalence rate of more than 8.5%. The sedentary lifestyles of the people are inducing lifestyle-related disorders, particularly obesity, which is considered a significant factor inducing type-2 diabetes, fueling the regional market share. The rising technological advancements con, continuous product launches, and the growing older population with chronic diseases are all augmenting the growth of the Asia Pacific market size. The growing trend of personalized diabetes management is accelerating the adoption of self-monitoring and continuous monitoring devices among people, propelling the regional market growth rate. The escalating healthcare expenditure in the region's growing population and integration with other healthcare technologies will provide growth opportunities for the Asia Pacific Glucose monitoring devices market.

MARKET RESTRAINTS

The high costs associated with glucose monitoring devices and their maintenance are expected to hamper the market growth across the Asia Pacific region as most people with low or middle income have restricted access to the devices. With limited insurance coverage and limited awareness among many people left untreated, most of the older population prefers traditional methods over these devices. All these factors are estimated to hinder the growth of the regional market size. The stringent regulatory barriers and approvals by the regulatory authorities for product approvals and launches act as challenges to the manufacturers

This research report on the Asia Pacific Glucose Monitoring Device Market has been segmented and sub-segmented into the following categories

APAC Glucose Monitoring Device Market Analysis By Device Type

  • Continuous Wearable Devices

  • Self-Monitoring Devices

The home-setting segment held the most significant share in the Asia Pacific market and is expected to maintain its domination in the coming years. Diabetic patients require frequent glucose monitoring, which encourages the patient to adopt these devices that are easy to handle at home without any professional, driving the segment growth. The devices allow the patient to check nutrition, insulin requirement, activity, and glucose level, which can be easily tracked and managed at home by reducing hospital costs to the patient.

The clinics and diagnostic centers segment will grow moderately during the forecast period. The growing number of diabetic cases across the region is enhancing the revenue of the diagnostic centers, as most people prefer diagnostic services to self-testing at home, which fuels the segment growth.

APAC Glucose Monitoring Device Market Analysis By Application 

  • Hospitals

  • Clinics & Diagnostic Centres,

  • Home Setting,

  • Ambulatory Settings

The home-setting segment held the most significant share in the Asia Pacific market and is expected to maintain its domination in the coming years. Diabetic patients require frequent glucose monitoring, which encourages the patient to adopt these devices that are easy to handle at home without any professional, driving the segment growth. The devices allow the patient to check nutrition, insulin requirement, activity, and glucose level, which can be easily tracked and managed at home by reducing hospital costs to the patient.

The clinics and diagnostic centers segment will grow moderately during the forecast period. The growing number of diabetic cases across the region is enhancing the revenue of the diagnostic centers, as most people prefer diagnostic services to self-testing at home, which fuels the segment growth.

KEY MARKET PLAYERS

A list of key companies profiled in this APAC Monitoring Device Market profiled in this report are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc., AgaMatrix Inc., Arkray Inc., Medtronic, DexCom Inc., Nova Biomedical Corporation, and Terumo Europe NV.

RECENT MARKET DEVELOPMENTS

  • In February 2023, the Dexcom G6 Continuous Glucose Monitoring System was launched in Singapore.

  • In March 2022, Quantum Operation Inc., a Tokyo-based healthcare IoT startup, presented the world’s first non-invasive glucose monitor capable of continuous measurement. It measures the blood sugar from the wrist without any pricks.

  • In March 2023, Astellas Pharma Inc. announced that it has entered into an agreement with Roche Diabetes Care Japan Co., Ltd. to develop and commercialize Roche Diabetes Care’s world-renowned Accu Check Guide Me blood glucose monitoring system with advanced accuracy as a combined medical product with Bluestar.

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