They help patients avoid hypoglycemia and maintain desirable glucose ranges through sensor transmission to a receiver or smartphone. The increasing prevalence of diabetes and acceptance of advanced monitoring tools is fueling their demand.
The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of remote patient monitoring is a key trend boosting the China continuous glucose monitoring devices market. Remote monitoring enables transmitting biometric data like glucose readings from sensors to healthcare providers, family members, or other carers remotely. This facilitates timely interventions and management of medical conditions without physical visits. Many patients prefer remote care during the ongoing COVID-19 pandemic as it reduces infection risk compared to facility visits. Leading device manufacturers are increasingly focusing on developing smart, wireless CGM systems compatible with remote monitoring platforms to capitalize on the trend. For example, Dexcom's G6 CGM integrates with various remote monitoring solutions of telehealth companies. Such partnerships aim to enhance diabetes treatment accessibility through virtual care.
Segment Analysis
The Global China continuous glucose monitoring devices market Size is dominated by self-monitoring blood glucose devices sub-segment. This is because self-monitoring devices are less invasive, easy-to-use, and provide real-time glucose readings compared to other sub-segments like professional and alternative glucose monitoring devices. Patients prefer self-monitoring devices for diabetes management due to their affordability and minimal complications involved in their usage.
Key Takeaways
The China continuous glucose monitoring devices market is expected to witness high growth in the forecast period until 2030. The increasing aging population suffering from diabetes in China along with growing awareness about diabetes self-management are driving the demand for continuous glucose monitoring devices in the country. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 3.9% over the forecast period 2023 to 2030.
Regional analysis
The eastern region of China, including Shanghai and Jiangsu province, dominates the China continuous glucose monitoring devices market currently due to higher adoption of advanced medical technologies and presence of major players in the region. However, the southern region, including Guangdong and Fujian province, is expected to be the fastest growing market during the forecast period supported by rising healthcare investments in these areas.
Key players
Key players operating in the China continuous glucose monitoring devices market are Abbott, Dexcom, Medtronic, Senseonics, GlySens Incorporated. Abbott currently leads the market with largest share owing to its diversified product portfolio of self-monitoring and professional CGM devices for diabetes management.
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