China Continuous Glucose Monitoring Devices Market Analysis | Coherent Market Insights

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2. China Continuous Glucose Monitoring Devices Market Analysis (2020-2027) • Diabetes is one of the most prevalent diseases in the world. As stated by the International Diabetes Federation in November 2019, around 463 million adults in the age group of 20 to 79 years are diagnosed with diabetes in 2019, and it is estimated that the total diabetes population will reach nearly 700 million by 2045 globally. Continuous glucose management devices play a very important role in maintaining and monitoring the glucose equilibrium of the body and the increasing adaptability of these devices, coupled with rising prevalence of diabetes is expected to boost the demand for continuous glucose monitoring devices.

3. s • The China continuous glucose monitoring devices market size is estimated to be valued at US$ 78.2 Mn in 2019 and is expected to exhibit a CAGR of 22.8% over the forecast period (2019–2027).

4. Figure 1. China Continuous Glucose Monitoring Devices Market Share (%), by Component Source: Coherent Market Insights Analysis (2020)

5. Rising incidence of diabetes in China is expected to drive the market growth over the forecast period • According to the International Diabetes Federation’s 2019 report, around 116 million people in between the age group of 20-79 years are suffering from diabetes in China. • Moreover, technological advancements in glucose monitoring devices is expected to propel the market growth during forecast period. For instance, in September 2019, Abbott Laboratories launched its upgraded FreeStyleLibre 14 day Glucose Monitoring device. The FreeStyleLibre 14 day system incorporates a wearable sensor that is placed on the back of the upper arm. The wearer can use their smartphone to get real-time glucose measurement simply by holding it near the sensor. An app on the phone will display current glucose levels, and information on how glucose levels are changing at that moment and trends in glucose levels over the previous eight hours and up to 90 days.

6. s • However, high cost of continuous glucose monitoring devices is expected to hinder the market growth. Continuous glucose monitoring devices are more expensive than standard glucose meters as the sensor lifetime is a major factor affecting the cost, inconvenience and user acceptance. Also, health plans, insurance companies, and governments in most countries do not provide reimbursement for continuous glucose monitoring devices, which has led to certain reluctance among patients towards the adoption of these devices which cost around US$ 3,000 per year per patient.

7. Figure 2. China Continuous Glucose Monitoring Devices Market Share (%), by End User Source: Coherent Market Insights Analysis (2020)

8. Convenience offered by the continuous glucose monitoring devices (CGM) over self-monitoring devices is expected to propel the market growth over the forecast period • The development of continuous glucose monitoring devices marked a remarkable change in diabetes care, as these devices provide real-time information on blood glucose levels less invasively than conventional glucose monitoring devices. Continuous glucose monitoring devices automatically and constantly track blood glucose levels throughout the day, thus providing information that can be analyzed to make informed decisions about managing dietary habits, physical activity, and medication. CGM systems require fewer finger sticks and allows sharing and transfer of data for further analysis.

9. s • Moreover, increasing launches of CGM devices is expected to drive the growth of the China continuous glucose monitoring devices market. For instance in January 2019, Ascensia Diabetes Care, a Switzerland-based technology company formed through the merger of Bayer Health’s diabetes division and Panasonic Healthcare, is officially moving into the CGM space through a partnership with Huzhou, China-based Zhejiang POCTech. With this partnership Ascensia launched the branded version of POCTech’s CE-Marked CGM devices in several markets including China. Currently Ascensia, is focused on development of CGM devices for in-house application and company will co-develop a next generation product with POCTech.

10. Key Players • Major players operating in the China continuous glucose monitoring devices market include Medtronic PLC, Abbott Laboratories, Medtrum Technologies, Inc., Senseonics, Nemaura, STMicroelectronics, NXP Semiconductors, Qualcomm, Taiwan Semiconductor Manufacturing Company Limited, GE Healthcare, Microchip Technology Inc., Texas Instruments Inc., Micron Technology Inc., Renesas Electronics Corporation, and Toshiba Corporation

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