Asia Pacific Continuous Glucose Monitoring Market is expected to witness a major rise in its revenue from US$ 1,179.9 Mn in 2022 to US$ 3,309.7 Mn by the end of 2031. The market is registering a CAGR of 12.22% over the forecast period from 2023 to 2031.
The Asia Pacific region is poised to dominate the continuous glucose monitoring market, generating substantial revenue throughout the forecast period. The market’s growth is expected to be fueled by the growing awareness among individuals regarding the importance of monitoring and maintaining optimal health. Moreover, the rising number of people diagnosed with diabetes is anticipated to contribute significantly to the market’s expansion. Additionally, technological advancements in CGM devices are expected to create more opportunities for revenue growth in the market.
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Diabetes is a pervasive metabolic disorder that affects a substantial population worldwide, posing significant health challenges. The Asia Pacific region, with its vast population and evolving lifestyle patterns, has witnessed a remarkable surge in the prevalence of diabetes over the years. Consequently, this region has emerged as a prominent market for continuous glucose monitoring, given the escalating number of potential consumers. According to recent studies, South Asian countries such as India, Bangladesh, Pakistan, Sri Lanka, Bhutan, Nepal, and Maldives, along with China, collectively account for approximately 60% of the global diabetes population. Disturbingly, the prevalence of diabetes in these countries has more than doubled in the past decade, with projections indicating a further exponential increase in the future. This alarming rise in the number of diabetes cases reflects the severity of the situation and, subsequently, boosts the market share within the region.
Technological Advancement: Unlocking Market Potential
Over the past decade, CGM technology has experienced significant progress and integration with various devices like insulin pumps, connected insulin pens (CIPs), automated insulin delivery (AID) systems, and virtual platforms. Notably, the continuous improvement in sensor accuracy, wear duration, and smaller size has led to the widespread adoption of CGM.
The introduction of artificial intelligence (AI) in the healthcare sector has further revolutionized the treatment of diabetes through wearable CGM sensors. The global burden of diabetes has been on the rise, with India alone having an estimated 77 million adults above the age of 18 suffering from diabetes, along with nearly 25 million pre-diabetics, as per the World Health Organization (WHO) report. Leveraging AI-enabled CGM-directed insulin suspension has shown promise in monitoring and preventing diabetes.
Moreover, the integration of continuous glucose monitoring with insulin pumps or artificial pancreas systems offers a comprehensive and automated approach to diabetes management. This combination ensures a more seamless and coordinated approach to diabetes care by incorporating real-time data sharing between healthcare providers and patients through electronic health records.
Overall, these technological advancements have not only enhanced the accuracy and convenience of CGM technology but also paved the way for more effective and personalized diabetes management strategies. The potential for further innovation in this field holds great promise in improving the lives of individuals living with diabetes.
Integrated Insulin Pumps to Capture More than 15% Revenue of Market
Integrated insulin pumps are revolutionizing the diabetes management landscape, propelling significant growth in the market. Our research reveals that these pumps contribute over 15% to the market revenue, making them a key driver of this upward trajectory.
Traditionally, integrated insulin pumps have been predominantly used by individuals with type 1 diabetes, who rely on regular insulin injections to regulate their blood sugar levels. However, we are witnessing a remarkable shift as these devices are increasingly being embraced by individuals with type 2 diabetes requiring insulin therapy.
Among the various consumer segments, younger individuals stand out as avid users of integrated insulin pumps. They are drawn to the unparalleled convenience and flexibility that this technology offers.
A survey conducted by the esteemed Juvenile Diabetes Research Foundation sheds light on the prevalence of integrated insulin pump usage in the Asia Pacific continuous glucose monitoring market. Astonishingly, more than 55% of individuals with type 1 diabetes reported incorporating insulin pumps into their diabetes management regimen.
Nevertheless, it is important to note that many consumers in the Asia Pacific region exhibit a high degree of price sensitivity. Consequently, they often seek cost-saving alternatives to integrated insulin pumps, considering the significant out-of-pocket expenses associated with these devices. For instance, the price range of integrated insulin pumps with continuous glucose monitoring features in the Asia Pacific market typically falls between $2,500 and $6,000, contingent upon the brand and model chosen.
Home Healthcare Contributes More than 45% of Revenue
Home healthcare plays a pivotal role in driving the revenue of continuous glucose monitoring (CGM) systems, accounting for more than 45% of the market’s financial success. This substantial contribution can be attributed to various factors that have shaped the industry landscape in recent years.
One significant factor is the shift in consumer behavior, with individuals increasingly taking charge of their health and well-being. To achieve this, many are turning to wearable devices and digital health solutions. CGM systems have emerged as a game-changer, empowering people with diabetes to closely monitor and manage their blood glucose levels. The real-time insights provided by CGM systems offer valuable information about the body’s response to food, exercise, and medication. As a result, a growing number of individuals are integrating CGM systems into their daily routine, especially in the realm of home healthcare.
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Additionally, the continuous glucose monitoring market has witnessed a surge in demand for CGM systems. This heightened demand can be attributed to the increasing prevalence of diabetes and the growing awareness of the benefits of CGM technology. With the ability to track blood glucose levels continuously, CGM systems offer a level of convenience and accuracy that traditional monitoring methods simply cannot match. This has led to a rise in adoption rates, particularly in the home healthcare sector.
India and China: Emerges as a Leading Country
In the ever-evolving landscape of the Asia Pacific continuous glucose monitoring market, a fascinating dynamic unfolds. China, the great powerhouse of the region, reigns as the highest shareholder country in 2022, holding a substantial portion of the market share. On the other hand, India takes the spotlight with its awe-inspiring compound annual growth rate (CAGR) over the projection period.
The potential consumer base for continuous glucose monitoring devices in Asia is staggering, surpassing expectations. By the year 2031, this flourishing market is projected to exceed a value of US$ 3,309.7 Million. The driving forces behind this exponential growth are primarily the escalating prevalence of diabetes in the region and the heightened awareness of the invaluable benefits of continuous monitoring. India and China, acting as the catalysts of this expansion, contribute significantly to the market’s prosperity.
India, with its thriving population, stands proudly as the second-highest diabetic population in Asia. A staggering 77 million individuals battled this chronic disease in 2021 alone. The country has experienced a notable surge in diabetes cases, attributed to the rapid urbanization, sedentary lifestyles, and unhealthy dietary habits that have become commonplace. Meanwhile, China emerges as the indisputable leader, with a staggering 141 million people grappling with diabetes within the Asia Pacific continuous glucose monitoring market.
List of Key Companies profiled:
- Abbott Laboratories
- DexCom, Inc.
- A. Menarini Diagnostics
- Echo Therapeutics, Inc.
- GlySens Incorporated
- Johnson & Johnson
- Medtronic plc
- Senseonics Holdings, Inc.
- F. Hoffmann-La Roche Ltd.
- Other Prominent Players
The following are the different segments of the Asia Pacific Continuous Glucose Monitoring (CGM) Market:
- Transmitters & Receivers
- Integrated Insulin Pumps
- Child Population (<14 years)
- Adult Population (>14 years)
- Home Healthcare
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
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