The
continuous glucose monitoring devices market in China has been witnessing
significant growth in recent years owing to increasing prevalence of diabetes
in the country. Continuous glucose monitoring devices helps in constant
monitoring of glucose levels in diabetics and provides real-time data with
alerts for high and low levels which helps in timely treatment and management
of the condition. The devices are compact, convenient to use and have
advantages over traditional glucose meters as they do not require frequent
finger pricking.
The Chinese
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 5.7% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The increasing prevalence of diabetes in China has been a key driver of growth
for the continuous glucose monitoring devices market. As per the International
Diabetes Federation, there were around 141 million adults living with diabetes
in China in 2021, with estimates showing numbers rising to 242 million by 2045.
Timely monitoring of glucose levels is important for effective management of
diabetes. Continuous glucose monitoring devices help diabetics constantly track
trends and stay aware of highs and lows, allowing for timely interventions.
This has boosted their adoption over the past few years. Expanding
availability, improved accuracy and reduced costs of continuous glucose
monitoring systems are also expected to support market expansion over the
forecast period.
Segment Analysis
The China continuous glucose monitoring devices market is dominated by Personal CGM systems sub
segment. More than 65% of the market share is dominated by the Personal CGM
systems which are small, discreet, and convenient to wear on the body for an
individual to monitor their own glucose levels. These Personal CGM systems are
user friendly and don't require frequent calibrations with fingersticks. This
makes Personal CGM systems favorable for self-monitoring among patients
suffering from both Type 1 and Type 2 diabetes in China.
Key Takeaways
The global China
Continuous Glucose Monitoring Devices Market Growth is expected to witness high growth over the
forecast period of 2023 to 2030. The rising diabetes population in China
coupled with increasing acceptance of innovative glucose monitoring devices is
expected to drive the China CGM devices market during the forecast period. The
Chinese 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 5.7% over the
forecast period 2023 to 2030.
Regional analysis related content comprises
The Western region of China dominates the China continuous glucose monitoring
devices market in terms of value and volume. The technology adoption and
awareness regarding innovative diabetes devices are highest in Western China as
compared to other regions of China. Key cities like Beijing and Shanghai in
Western China have become hub for major diabetes device companies and witnessed
highest sales for Personal CGM systems over the last few years. This makes
Western China the dominant and fastest growing regional market for continuous
glucose monitoring devices in China.
Key players related content comprises
Key players operating in the China continuous glucose monitoring devices market
are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited,
Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling,
Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods. Cargill
Incorporated leads the Chinese market with their wide range of Personal CGM
systems. ADM and Bunge Limited have also strengthened their position in China
through acquisitions of local makers of professional CGM devices in recent
times.
For more
insights, read- https://www.ukwebwire.com/china-continuous-glucose-monitoring-devices-market-trends-size-and-share-analysis/
For more details on the report, Read- https://careersplay.com/how-biochips-are-reshaping-the-landscape-of-medical-advancement-in-healthcare-industry
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