Asia Pacific Glucose Monitoring Device Market is expected to reach $443.59 million 2017 - 2021
The Asia Pacific Glucose Monitoring Device Market is very fast growing market and expected to reach $443.59 million by 2021 from $310.14 million in 2016, at a CAGR of 7.42% from 2016-2021. The Asia Pacific market is more attention grabbing as it is at a growing stage and is estimated to lead the market in the future due to the large patient pool in this region.
Glucose monitoring devices are used to detect the level of sugar in our blood and are of several kinds which include a glucose meter, testing strips and lancets. The usage of these devices consumes less time, as compared to the glucose testing by customary methods in laboratories.
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These devices can be controlled easily as are portable so convenient to carry. They offer the facility of monitoring glucose level in our blood as it tests quantitatively.
The glucose monitoring strip devices lead the market with maximum share and also has the highest growth rate.
The rise in number of diabetes patients is one of the key drivers, fuelling the growth of the global SMBG devices market. The increasing prevalence of diabetes cases is due to unhealthy lifestyle, poor diet, excess alcohol consumption, and lack of physical activity.
However, this market faces certain loss due to some manufacturing defect or error in results. In addition, the accessibility of Continuous Glucose Monitors (CGM) also hinders the growth of the market.
This market can be broadly segmented into continuous wearable devices (Sensors, Transmitters and Activators) and self-monitoring devices (Blood Glucose Meters, Blood Glucose Strips, Lancets, and Haemoglobin A1C testing Kits). Based on Application they can be divided into hospitals, clinics and diagnostic centers, home setting and ambulatory settings.
The continuous glucose monitoring results help patients regulate their food intake, exercise, and medications. The device contains sensors for checking glucose level from the interstitial fluid.
The sensor has a time span where it can be used at one place and then needs to be replaced. This device monitors the glucose levels over time, allowing the patients to identify low and high sugar levels which are more dangerous.
Whereas for the self-monitoring devices people have to test and it monitors the level at that particular time and not before that.
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The leading companies dominating this market are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc, AgaMatrix Inc, Arkray Inc, Medtronic, DexCom Inc, Nova Biomedical Corporation and Teruma Europe NV.
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