by Continuous glucose monitoring (CGM) devices play a vital role in managing diabetes efficiently by tracking blood glucose levels continuously. These devices provide real-time insights into blood glucose readings through a minimally invasive subcutaneous sensor. With increasing diabetic population in China due growing obesity issues, sedentary lifestyle and aging population, demand for CGM devices is rising in the country.
The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
As per International Diabetes Federation data, there were over 110 million diabetics in China in 2021 which is projected to reach 130 million by 2030. Continuous glucose monitoring devices aid in proactively managing blood glucose levels thereby reducing the risks of long term health complications associated with uncontrolled diabetes. The rising awareness regarding benefits of using CGM devices for efficient diabetes management is expected to drive the demand over the forecast period. Technological advancements with integrated features like predictive alarms and cloud connectivity have further increased adoption of these devices.
Segment Analysis
The China continuous glucose monitoring devices market is dominated by standalone continuous glucose monitoring systems segment. Standalone continuous glucose monitoring systems which are independent of insulin pumps account for over 80% share owing to their affordability and ease of use compared to integrated systems. Standalone systems are preferred for basic glucose level monitoring. Integrated systems which combine glucose monitoring and insulin delivery are used by patients requiring intensive diabetes management and insulin therapy. However, integrated systems have limited adoption rates due to their high cost.
Key Takeaways
The China Continuous Glucose Monitoring Devices Market Size is estimated to be valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
The global China continuous glucose monitoring devices market is expected to witness high growth over the forecast period supported by rising prevalence of diabetes, increasing healthcare awareness and coverage. The South China region holds the largest share and is expected to maintain its dominance during the forecast period. This is attributed to high diabetes rates and improving access to healthcare facilities. North China is projected to witness the fastest growth supported by increasing government focus on diabetes management and growing preference for self-care practices in urban populations.
Key players: Key players operating in the China continuous glucose monitoring devices market include Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling, Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods. Cargill, ADM and Bunge collectively account for over 50% share owing to their vast production capacity and established distribution networks in China.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
