Report Ocean presents a new report on Asia Pacific Continuous Glucose Monitoring (CGM) market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.
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.
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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.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while otherI private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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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 Asia Pacific Continuous Glucose Monitoring (CGM) market is segmented into component, demographics, and end user.
Transmitters and Receivers
Integrated Insulin Pumps
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.
Child Population (<14 Years)
Adult Population (>14 Years)
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.
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By End User,
The ICUs segment is expected to account for approximately 45% of the home healthcare segments 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.
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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.
Table Of Content:
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
……..and view more in complete table of Contents
The Asia Pacific Continuous Glucose Monitoring (CGM) market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Asia Pacific Continuous Glucose Monitoring (CGM) market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
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The Asia Pacific Continuous Glucose Monitoring (CGM) market report answers questions such as:
What is the market size and forecast of the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What are the inhibiting factors and impact of COVID-19 on the Asia Pacific Continuous Glucose Monitoring (CGM) Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What is the competitive strategic window for opportunities in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What are the technology trends and regulatory frameworks in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What is the market share of the leading players in the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
What modes and strategic moves are considered favorable for entering the Asia Pacific Continuous Glucose Monitoring (CGM) Market?
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What are the aspects of this report that relate to regional analysis?
The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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