Blood Glucose Monitoring Market Trends, Industry & Size 2031

Report Description

The Asia Pacific blood glucose monitoring market size was USD 3.50 Billion in 2022 and is likely to reach USD 6.82 Billion by 2031, expanding at a CAGR of 7.69% during 2023–2031. The growth of the market is attributed to the growing diabetic population and increasing penetration of glucose monitoring systems.

Blood glucose monitoring comprises the use of a glucose meter for testing the concentration of glycemia in the blood. A blood glucose test is typically performed by piercing the finger tip to draw blood and applying it to a chemically active disposable called as test-strip.

Get Free Sample Report

Different technologies are used by the manufacturers to detect the blood sugar level, but the most widely adopted technology includes systems that measure an electrical characteristic to determine the glucose level in the blood. The test is usually referred to as capillary blood glucose (CBG) test.

Healthcare professionals advise patients with diabetes mellitus on the appropriate monitoring of blood glucose level on regular basis. Blood glucose monitoring is done to track the patterns of blood glucose changes and assist in the planning of meals, activities, & required medications for the patients.

Additionally, the regular testing regimen allows taking quick actions in case of hyperglycemia or hypoglycemia. The cost of using blood glucose meters is highly cost-benefit relative to the avoided medical costs of the complications of diabetes. Therefore, the blood glucose monitoring devices are widely used by the diabetic patient owing to its affordability and easy operation.

The COVID-19 pandemic has significantly changed the dynamics of healthcare industry. The high risk of developing serious illness due to coronavirus disease has made it challenging for several other healthcare problems including diabetes. Additionally, the pandemic situation has witnessed nationwide lockdowns and stringent regulations.

Therefore, the outbreak overwhelmed home healthcare agencies with patients due to limited access to medical services. The consequent large scale manufacturing of home care devices for the patients having diabetes and other serious disorders had fuel the expansion of the market during the pandemic situations. This resulted into many opportunities for the expansion of blood glucose monitoring market.

Market Trends, Drivers, Restraints and Opportunities

• Rising cases of diabetes & pre-diabetes and growing demand for advanced diabetes monitoring devices are the major factor propelling the market expansion during the projected period.

• Increasing manufacturing of self-monitoring blood glucose devices is estimated to contribute to the market expansion during the forecast period.

• Growing availability of healthcare reimbursements and rising adoption of new medical technologies are some of the factors expected to positively influence the market growth in the coming years.

• Presence of a large proportion of undiagnosed diabetes patients is anticipated to hamper the market growth during the forecast period.

• Increasing government initiatives to combat diabetes and rising corporative investments to streamline research & development activities in diabetes is expected to create numerous opportunities for the market growth in the coming years.

Scope of Asia Pacific Blood Glucose Monitoring Market Report

The report on the Asia Pacific blood glucose monitoring market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Asia Pacific Blood Glucose Monitoring Market Segment Insights

Glucometer devices segment is expected to grow at a rapid pace

Based on self-monitoring blood glucose devices, the market is segregated into lancets, test strips, and glucometer devices. The glucometer devices segment is expected to grow at a rapid pace during the projected period due to its economic affordability and easy usage. Moreover, the ease in handling glucometers and growing demand are expected to propel the growth of the market segment in the coming years.

On the other hand, the test strips segment is anticipated to exhibit a substantial growth during the forecast period owing to the sedentary lifestyle and consequent increasing demand for blood glucose test strips from type-2 diabetic patients.

Get Free Sample Report

Sensors segment is projected to expand at a robust CAGR

On the basis of continuous glucose monitoring devices, the market is segmented into durables and sensors. The sensors segment is projected to expand at a robust CAGR during the forecast period owing to the elimination of the pain associated with finger picking. Furthermore, increasing replacement of invasive monitoring devices with the sensors that enable patients with self-monitoring is expected to encourage the growth of the market segment.

However, the durables segment is anticipated to hold a significant market share during the forecast period due to the growing demand owing to accurate glucose level detection. Moreover, the growing economic development and changing consumer behavior are the factors anticipated to fuel the growth of market segment during the projected period.

China market anticipated to constitute a key market share

In terms of geography, the Asia Pacific lactic acid market is classified as India, China, South Korea, Japan, Australia, Vietnam, Malaysia, Thailand, Indonesia, Philippines, and Rest of Asia Pacific. The market in China is anticipated to constitute a key share of the market during the projected period owing to the increasing prevalence of metabolic illness and rising number of pre-diabetic patients in the country.

Moreover, the region is expected to continue its dominance in the market due to the increasing technological transformation, rising number of insulin-requiring & insulin-dependent diabetes patients. On the other hand, the market in Japan is anticipated to exhibit a robust CAGR during the forecast period due to growing demand for advanced monitoring devices and rising trend of self-monitoring to cut down the expenditure on regular hospital visits.