Asia Pacific Continuous Glucose Monitoring Market Outlook 2016: Transmitter and receivers, Sensors, Insulin pump
Deerfield Beach, FL -- (SBWIRE) -- 09/09/2016 -- Rise in incidence of diabetes across the globe has elevated the need of innovative diabetic management devices, which has increased the adoption of Continuous Glucose Monitoring (CGM) devices. The existing glucose monitoring devices have few gaps that are bridged by the innovative CGM. With CGM, significant improvement has been observed in stabilizing the elevated A1C levels, which in turn reduced the risk of developing long-term diabetic complications.
Driving factors for the CGM market are technological innovation in the form of artificial pancreas and increasing awareness among Asia-Pacific countries such as India, China, Japan and others. Large patient pool, geographical expansion of market players, increase in income levels and improved living standards of the people are also driving the market growth. China and India together contribute for massive numbers of diabetic patients to the total diabetic patients in the region. However, factors such as strict regulatory impositions, inadequate reimbursement options for CGM, less accurate results and cost of the CGMs are restraining the market growth.
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The Asia-Pacific CGM market is segmented based on the application into home settings, diagnostics and hospitals. Among all the application segments, home settings is expected to generate maximum revenue by 2020. On the basis of devices, the market is segmented into transmitter and receivers, sensors and insulin pump. Transmitters and receivers segment holds the largest share of the market, as they are highly durable compared to other devices.
The Asia-Pacific CGM market, by age is comprised of three categories as children and teens; youth; and middle, elderly and aged populations. The Asia-Pacific CGM market is segmented into China, Japan, India, Australia and others. Two countries with highest prevalence of diabetes are India and China. Rate of diabetes prevalence in India is escalating in both urban and rural areas. Moreover, the rate of prevalence is increasing significantly in China as compared to the past decade and has now surpassed India accounting for the largest number of diabetic patients in the world. In addition, emerging economies such as India, China, Singapore and Malaysia are the potential geographies for the market expansion due to improving healthcare standards.
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Key market players in this market include Medtronics, LifeScan Pvt. Ltd., DexCom, Echo Therapeutics, Inc. Medical Technologies Innovation Asia, (MTIA) and Aaditya Life Support Devices Pvt. Ltd. including others. The major strategies adopted by the market players across Asia-Pacific countries are collaborations, product launches and approvals. Collaborations in these regions focus on distribution and commercialization of the devices.
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