Self-Monitoring Blood Glucose Devices Market in Asia Pacific to witness $4bn till 2024
Category: #health  By Partha Ray  Date: 2019-08-29
  • share
  • Twitter
  • Facebook
  • LinkedIn

Self-Monitoring Blood Glucose Devices Market in Asia Pacific to witness $4bn till 2024

Rising prevalence of obesity in highly populated countries such as India and China will be a major factor that will drive the self-monitoring blood glucose devices market during the forecast period. Increasing cases of obesity leading to type II diabetes will increase the demand for SMBG devices in the region.  Growing geriatric population base will further act as primary driver for growth of Asia Pacific self-monitoring blood glucose devices market during the forecast period.

Request for a sample of this report @ https://www.graphicalresearch.com/request/1013/sample

According to the Graphical Research new growth forecast report titled “Asia Pacific Self-Monitoring Blood Glucose Devices Market analysis based on Product, End-User, Industry Analysis Report, Regional Outlook, End-User Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 4 billionby 2024.Several efforts undertaken by government and other organizations to increase awareness pertaining to diabetes management will accelerate SMBG devices market growth. National Program for Prevention and Control of Diabetes organized by Ministry of Health and Family Welfare, Diabetes Foundation of India and International Diabetes Federation (IDF) Diabetes Program focusing on reducing the burden of prediabetes by providing appropriate diabetes education to patients as well as healthcare providers will escalate the adoption of SMBG devices, thereby propelling industry growth.

Advancements in technology to develop novel glucose monitoring devices coupled with availability of portable, user-friendly and accurate SMBG devices will increase the adoption of such advanced devices. However, prohibitive costs associated with self-monitoring blood glucose devices and their accessories may hinder industry expansion in the foreseeable future. Stringent regulations and poor reimbursement scenario should impede the industry growth in near future.

Continuous glucose monitors segment is estimated to witness lucrative growth of 6.8% during the forecast period. Demand for continuous glucose monitoring devices is high in patients that require continuous monitoring. CGM systems monitor blood glucose levels every 5 minutes or at frequent intervals. Increasing adoption of such devices in ICU patients or in hospital settings will foster the segmental growth during the forecast period.

Hospitals segment accounted for USD 1.3 billion in 2017 and is anticipated to show significant growth over the analysis timeframe. The growth is attributable to the increasing incidence of hypo and hyperglycemia among patients. Ability of hospitals to buy advanced and costly devices, well-developed infrastructure as well as availability of skilled technicians will further drive segmental growth in the coming years.

China self-monitoring blood glucose devices market accounted for USD 743.3 million revenue in 2017 and is estimated to witness robust growth over the forecast period. China being highly populous country comprises of large population base suffering from diabetes. Increasing prevalence of diabetes as well as growing elderly population will augment industry growth over the analysis timeframe.

Some of the notable players operating in Asia Pacific self-monitoring blood glucose devices market include Abbott Laboratories, All Medicus, Arkray, B. Braun Melsungen AG, Bayer Healthcare, Bionime Corporation, Dexcom, F. Hoffmann-La Roche, Johnson & Johnson, LifeScan, Medtronic, Nipro Diagnostics, Nova Biomedical, Sinocare and Trividia Health. Market players are focusing on new product development, acquisitions and mergers to broaden product portfolio as well as widen company’s customer base.

Segments we Cover:

Asia Pacific Self-Monitoring Blood Glucose Devices Market By Product

  • Self-monitoring blood glucose meters
  • Continuous glucose monitors
  • Testing strips
  • Lancets

Asia Pacific Self-Monitoring Blood Glucose Devices Market By End-user

  • Hospitals
  • Home settings
  • Diagnostic centers and clinics

Browse key industry insights along with Table of Content @ https://www.graphicalresearch.com/industry-insights/1013/asia-pacific-self-monitoring-blood-glucose-devices-market

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

Contact Us:

Parikhit B. 
Corporate sales, 
Graphical Research 
Email: [email protected] 
Web: https://www.graphicalresearch.com

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

...

Read More

More News By Partha Ray

Dairy Blends Market 2019 In-Depth Analysis of Industry Share, Outlook up to 2025
Dairy Blends Market 2019 In-Depth Analysis of Industry Share, Outlook up to 2025
By Partha Ray

Global Market Insights, Inc. provides a detailed overview of Dairy Blends market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, d...

Beta Glucan Market Size 2019 - Worldwide Forecast to 2025
Beta Glucan Market Size 2019 - Worldwide Forecast to 2025
By Partha Ray

Global Market Insights, Inc. added research on Beta Glucan market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, applicati...

Genetically Modified Foods Market Research 2019 Report | Growth Forecast 2025
Genetically Modified Foods Market Research 2019 Report | Growth Forecast 2025
By Partha Ray

Global Market Insights, Inc. has added a new report on Genetically Modified Foods market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends de...