APAC SMBG Devices Market size is expected to reach USD 8.8 billion by 2027, according to a latest forecast report by Graphical Research.
Rapid technological advancements to enhance reliability and efficiency will benefit the self-monitoring blood glucose devices adoption rate. Advancements in technology offers easier, portable and convenient testing devices that will increase the preference among insulin-dependent diabetes patients. Thus, the increasing availability of compact and user-friendly devices including CGM and glucose meters will positively impact the market growth. Moreover, strong presence of industry players highly investing in development of innovative products will spur the regional market demand.
Increasing pervasiveness of diabetes with high risk of other severe health concerns will impel the demand for SMBG devices. Thus, the rising government initiatives for awareness regarding diabetes management will stimulate the industry growth. For instance, the Ministry of Health of the Singapore in collaboration with Institute of Policy Studies launched war on diabetes program to create awareness and educate people on diabetes and related treatments in the country to minimize disease burden. Therefore, the increasing exposure to novel blood glucose monitoring technologies will offer unprecedented growth opportunities to the industry.
The self-monitoring blood glucose meters segment held over 27% Asia Pacific SMBG devices market share in 2020. Portability and convenience of glucose meters at home settings will majorly drive the market value. Continuous product launches by the industry players operating in the region will benefit the market revenue. For instance, Roche Diabetes Care India, introduced the Accu-Chek Instant S allowing self-monitoring. Other organizations are also expanding their product portfolio in the region that will further augment the market expansion. In addition, these devices are expected to hold huge potential with wide array of applications in diabetes management.
Browse detailed statistical insights from the report, “Asia Pacific Self-Monitoring Blood Glucose (SMBG) Devices Market Forecast 2027 By Product (Self-monitoring Blood Glucose Meters, Continuous Glucose Monitors, Testing Strips, Lancets), By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Sales, Diabetes Clinics & Centers), Research Report, Country Outlook (China, Japan, India, Australia, South Korea, Malaysia, Singapore, Thailand, Philippines, Taiwan, Indonesia), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The Asia Pacific self-monitoring blood glucose devices market from type 1 diabetes segment will expand at 10.9% CAGR during the analysis timeline. The segment is anticipated to experience significant revenue growth with the need for continuous monitoring of blood glucose level among patients with type 1 diabetes. The patients with type 1 diabetes requires administration of appropriate insulin dose daily, thus needs routine monitoring of blood glucose level to manage dosing.
The online sales segment was valued at over USD 1 billion revenue in 2020 credited to the internet penetration across the region. Expanding e-commerce and e-pharmacy industry in the developing economies will impel the product sales through these platforms. Easy accessibility and broader availability will further stimulate the online sales of SMBG devices. Moreover, the partnerships and collaborations of leading players with e-commerce giants to expand product reach will offer unprecedented growth opportunities.
India self-monitoring blood glucose (SMBG) devices market is poised to showcase around 11.9% CAGR through 2027. Favorable regulatory reforms for the development of self-monitoring blood glucose devices in the country will offer business development opportunities to the industry players. Additionally, growing awareness regarding diabetes management with several government initiatives will influence the adoption of SMBG devices. For instance, the Ministry of Health and Family Welfare launched national programme for prevention and control of cancer, diabetes, cardiovascular diseases and stroke (NPCDCS) to educate disease prone population regarding the available clinical treatments and diagnosis across the nation. Thus, the expanding presence of key players with high growth potential in the country will propel the industry outlook.
APAC SMBG devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Asia Pacific Market, By Product
- Self-monitoring blood glucose meters
- Continuous glucose monitors
- Testing strips
Asia Pacific Market, By Application
- Type 1 diabetes
- Type 2 diabetes
- Gestational diabetes
Asia Pacific Market, By Distribution Channel
- Hospital pharmacies
- Retail pharmacies
- Online sales
- Diabetes clinics & centers
The above information has been provided for the following countries:
- Asia Pacific
- South Korea