The Global China Continuous Glucose Monitoring Devices Market Growth Accelerated By Increasing Adoption Of Advanced Diabetes Management Technologies
China Continuous Glucose Monitoring Devices Market
Continuous glucose monitoring devices is gaining significance across China owing to increasing prevalence of diabetes. These devices aid in effective monitoring of blood glucose levels in diabetic individuals through a subcutaneous sensor that measures interstitial fluid glucose levels. This provides real-time information that helps make informed treatment decisions. The devices mitigate risks associated with fluctuating blood sugar levels and aid smooth management of the chronic condition.
The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 Billion in 2024 and is expected to exhibit a CAGR Of 3.9% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Technological advancements have enabled development of next-generation continuous glucose monitoring systems with enhanced accuracy and extended sensor wear time. Novel sensors that are minimally invasive with longer sensor life are gaining traction. Bluetooth-enabled devices that can connect to mobile apps for real-time glucose level monitoring and data sharing with caregivers are becoming popular. This allows for remote patient monitoring and management of diabetes. Growing acceptance of advanced integrated systems for streamlined diabetes care is a major trend driving the China continuous glucose monitoring devices market.
Segment Analysis
The China continuous glucose monitoring devices market is dominated by self-funded/ out-of-pocket patients sub-segment as there is no favourable reimbursement policies in the country for CGM devices. According to a recent study, around 90% of CGM devices sales are attributed to self-funded patients segment as they have to bear the high costs of the devices on their own. This makes CGM inaccessible for majority of diabetic patients in China.
Key Takeaways
The China Continuous Glucose Monitoring Devices Market Demand is expected to witness high growth during 2024 to 2031. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 billion in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024-2031.
Regional analysis:
The South China region holds the major share in the China continuous glucose monitoring devices market currently attributed to rising diabetes prevalence and growing health awareness in this region. The northern region is also projected to register fast growth during the forecast period owing to increasing disposable income and expanding healthcare infrastructure in this region.
Key players:
Key players operating in the China continuous glucose monitoring devices market are Dexcom, Medtronic, Abbott, Senseonics, and Insulet.
Get more insights on this topic :
Comments
Post a Comment