DUBLIN--(BUSINESS WIRE)--The "Asia Pacific Continuous Glucose Monitoring Market, By Component, By Demographics, By End User, Estimation & Forecast, 2017 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Continuous Glucose Monitoring (CGM) market held a market value of USD 1,081.6 Million in 2021 and is projected to reach USD 2,967.2 Million by the year 2030. The market is anticipated to grow at a CAGR of 12.22% from 2022 to 2030.
Continuous Glucose Monitors (CGM) are devices used for monitoring blood glucose continuously. The market is expected to be driven by the increased awareness among people towards monitoring and preventive health. Furthermore, surge in diabetic population are also estimated to fuel the market growth.
Despite the driving factors, inaccurate and expensive systems are also expected to hinder the market growth. Also, inadequate reimbursement facilities are anticipated to act as a barrier for the market growth.
Surge in diabetic population
Increasing prevalence of diabetes is also leading to surge in the diabetic population, which is boosting the market growth. According to the International Diabetes Federation (IDF), as of November 2019, around 88 million adults in South East Asia region were suffering from diabetes. This number was estimated to reach about 153 million by 2045. Therefore, surge in the diabetic population is expected to boost the demand for continuous glucose monitors, hence fuelling the market growth.
The sensors segment is estimated to hold the largest market share of about 44% owing to the increasing technological advancements. The transmitters and receivers segment is expected to account for the second largest market share. They are the most durable component of the CGM device, which contributes to its market growth.
The adult population segment is anticipated to hold the largest market share and is also expected to grow at the fastest growth rate of 12.49% over the projected period owing to high incidence rate of diabetes in adult population as compared to the child population.
The ICUs segment is expected to account for approximately 45% of the home healthcare segment's market size in 2021 and this share is expected to reach 41% in 2030. The home healthcare segment is estimated to witness significant growth owing to growing adoption of CGM devices in homes.
By country, the Asia Pacific Continuous Glucose Monitoring (CGM) market is divided into China, India, Japan, South Korea, Australia & New Zealand, Indonesia, ASEAN, and the Rest of Asia Pacific. ASEAN is further classified into Malaysia, Thailand, Philippines, Vietnam, Singapore, and Indonesia.
China segment is estimated to hold the largest market share of around 36.2% owing to the increasing prevalence of diabetes in China. According to the International Diabetes Federation (IDF), as of November 2019, there are around 114 million cases of diabetes in China.
On the other hand, India is expected to witness the fastest growth rate of 13.35% during the forecast period owing to the rising adoption technologically advanced products in the country for management of diabetes and other such chronic diseases.
Major players in the Asia Pacific Continuous Glucose Monitoring (CGM) market include Abbott Laboratories, DexCom, Inc., A. Menarini Diagnostics, Echo Therapeutics, Inc., GlySens Incorporated, Johnson & Johnson, Medtronic plc, Senseonics Holdings, Inc., F. Hoffmann-La Roche Ltd, and Other prominent players. The cumulative market share of the nine major players is over 78%.
These market players are engaged in mergers & acquisitions, collaborations, and new product launches, among other initiatives, to strengthen their market presence. For instance, in August 2021, Abbott received the U.S. FDA approval for the Freestyle Libre 2 iOS application, which is compatible with iPhones. This provided a comprehensive digital offering for its FreeStyle Libre 2 integrated continuous glucose monitoring (iCGM) system.
Key Topics Covered:
Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Asia Pacific Continuous Glucose Monitoring (CGM) Market
Chapter 4. Asia Pacific Continuous Glucose Monitoring (CGM) Market Overview
4.1. Industry Value Chain Analysis
4.1.2. Technology Integrator
4.1.3. Service Provider
4.1.4. End User
4.2. Industry Outlook
4.2.1. Prevalence of diabetes in Asia Pacific
4.2.2. Sales of Continuous Glucose Monitoring Devices in Asia Pacific
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.8. Competition Dashboard
Chapter 5. Continuous Glucose Monitoring (CGM) Market Analysis, By Application
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
5.2.2. Transmitters & Receivers
5.2.3. Integrated Insulin Pumps
Chapter 6. Continuous Glucose Monitoring (CGM) Market Analysis, By Demographics
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
6.2.1. Child Population (< 14 years)
6.2.2. Adult Population (>14 years)
Chapter 7. Continuous Glucose Monitoring (CGM) Market Analysis, By End user
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
7.2.3. Home Healthcare
Chapter 8. Continuous Glucose Monitoring (CGM) Market Analysis, By Region
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2030 (US$ Mn)
8.2.4. South Korea
8.2.5. Australia & New Zealand
8.2.8. Rest of Asia Pacific
- Abbott Laboratories
- DexCom, Inc.
- A. Menarini Diagnostics
- Echo Therapeutics, Inc.
- GlySens Incorporated
- Johnson & Johnson
- Medtronic plc
- Senseonics Holdings, Inc.
- F. Hoffmann-La Roche Ltd.
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