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China Continuous Glucose Monitoring Devices Market Analysis | Coherent Market Insights

China to lead the market during forecast period with market valuation of US$ 78.2 Mn in 2019.

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China Continuous Glucose Monitoring Devices Market Analysis | Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. CHINA CONTINUOUS GLUCOSE MONITORING DEVICES MARKET ANALYSIS China Continuous Glucose Monitoring Devices Market, by Component (Transmitters, Receivers, Insulin Pumps, and Sensors), and by End User (Hospitals & Clinics, Homecare Settings, and Others) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027.

  3. 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). Drivers • 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.

  4. 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.

  5. Figure 1.China Continuous Glucose Monitoring Devices Market Share (%), by Component

  6. 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,around116 million people in between the age group of 20-79 years are suffering from diabetes in China. • Moreover,technologicaladvancements in glucose monitoring devices is expected to propel the market growth during forecast period.Forinstance,inSeptember 2019,Abbott Laboratories launched its upgraded FreeStyleLibre 14 day Glucose Monitoring device.TheFreeStyleLibre 14 day system incorporates a wearable sensor that is placed on the back of the upper arm.Thewearer can use their smartphone to get real-time glucose measurement simply by holding it near the sensor.Anapp on the phone will display current glucose levels,andinformation on how glucose levels are changing at that moment and trends in glucose levels over the previous eight hours and up to 90 days.

  7. 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.

  8. Fig2.China Continuous Glucose Monitoring Devices Market Share (%),by End User

  9. Competitive Section 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.

  10. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference: https://www.coherentmarketinsights.com/market-insight/china-continuous-glucose-monitoring-devices-market-3675

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  12. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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