Asia-Pacific Diabetes Care Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Asia-Pacific Diabetes Care Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Asia-Pacific Diabetes Care Devices Market is expected to register a CAGR of more than 3.7 %, during the forecast period (2022 - 2027) and is estimated to reach around USD 25 billion by 2027. Japan holds the highest market share in the Asia-Pacific Diabetes Care Devices Market and is expected to register the highest CAGR of more than 3.2% in the forecast period.

The COVID-19 pandemic positively impacted the Asia-Pacific Diabetes Care Devices Market growth. Patients with diabetes, infected with COVID-19 may experience elevated blood glucose, abnormal glucose variability, and diabetic complications. The prevalence of diabetes in people with COVID-19 caused a significant increase in severity and mortality of COVID-19 in people with either type 1 (T1DM) or type 2 diabetes mellitus (T2DM), especially in association with poor glycemic control. While new-onset hyperglycemia and new-onset diabetes (both T1DM and T2DM) have been increasingly recognized in the context of COVID-19 and have been associated with worse outcomes. To avoid aggravation, a patient's blood glucose should be monitored regularly, which has underlined the importance of blood glucose monitoring devices. Pandemic emergency has created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers.

According to International Diabetes Federation (IDF), 90 million adults (20-79) are living with diabetes in the IDF South-East Asia (SEA) Region in 2021. This figure is estimated to increase to 152 million by 2045 and 206 million adults (20-79) are living with diabetes in the IDF Western Pacific Region in 2021 which is estimated to increase to 260 million by 2045. The main diagnosis for diabetes patients is imbalances in blood glucose levels, which are not in compliance with the standard blood glucose levels. The general lab diagnostic tests can only help to diagnose the disease by physicians. Patients with more fluctuations in glucose levels need to get it checked every day. Patients administering insulin need to check their blood glucose levels frequently, adjust the doses of insulin, or change the medication, if necessary.

The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in developed countries are indications of the increasing usage of diabetic care products. Moreover, the increasing adoption of insulin delivery devices and the rising prevalence of diabetes are driving the market growth. Leading manufacturers are focusing on technological innovations and the development of advanced products to gain a substantial share of the market.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

Key Market TrendsContinuous Glucose Monitoring Segment is Expected to Witness a Healthy Growth Rate Over the Forecast Period

The continuous glucose monitoring segment is expected to witness a CAGR of more than 13% over the forecast period.

According to IDF, adults living with diabetes in the IDF South-East Asia (SEA) Region are estimated to increase to 113 million by 2030 and in the IDF Western Pacific Region to 238 million by 2030. Diabetes mellitus has been of wide concern with its high prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments. The COVID-19 pandemic emphasized the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from a viral illness.

Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated to the transmitter. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period. Continuous glucose monitoring has become a popular alternative to the portable finger-prick glucometers available in the market for the convenience of diabetic patients. According to a research study by Ziyi Yu et al., published in IOP Science Journal in March 2021, a large variety of promising glucose-sensing technologies from traditional electrochemical-based glucose sensors to novel optical and other electrical glucose sensors has been developed which shows a positive impact on the market growth.

Furthermore, the current continuous glucose monitoring devices can either display the trends in the levels of blood glucose by downloading the data or give a real-time picture of glucose levels through receiver displays. Continuous glucose monitoring devices are becoming cheaper with the advent of new technologies, like cell phone integration, which is likely to drive the segment.

The market players are adopting various strategies and innovations to increase market share. For instance, In July 2021, Terumo Corporation announced the launch of the Dexcom G6 continuous glucose monitoring (CGM) system in Japan. U.S.-based Dexcom manufactures the Dexcom product, and Terumo holds the exclusive distribution agreement of Dexcom Products in Japan.

Thus, owing to the above-mentioned factors the segment is expected to grow over the forecast period.

Japan is expected to dominate the Asia-Pacific Diabetes Care Devices Market in terms of Revenue

Japan holds the highest market share in the Asia-Pacific Diabetes Care Devices Market and is also expected to register a CAGR of more than 3% with a revenue of around 9 billion by 2027.

Diabetes has emerged as a global epidemic, Japan has around 11 million people with diabetes according to IDF 2021 data. While Type 1 diabetes is caused by an immune system malfunction, Type 2 diabetes is linked to leading a sedentary lifestyle, which results in the development of inherent resistance to insulin. Hence, Type 1 diabetes can be characterized as insulin-requiring, while Type 2 diabetes can be characterized as insulin-dependent diabetes. Japan has one of the largest elderly populations in the world which is more susceptible to the onset of type 2 diabetes. As Japan’s population continues to age, the prevalence of diabetes increases as well. The monitoring and management of blood glucose levels are on the rise, to avoid negative consequences, such as cardiovascular diseases, kidney disorders, and many other conditions.

Diabetes has been identified as a healthcare priority by the Ministry of Health, Labour, and Welfare (MHLW). The high prevalence of type 2 diabetes is associated with a significant economic burden. The costs of diabetes are increased in patients with co-morbidities such as hypertension and hyperlipidemia and in patients who develop complications. Costs increase with an increasing number of complications. Well-organized medical insurance systems cover all medical fees for diabetes mellitus, and diabetics can visit doctors freely in Japan. Also, insulin therapy by self-injection became legal and is covered by health insurance. The Japanese healthcare system has a few disease management programs conducted by the Japan Association for Diabetes Education and Care. Japan is one of the regional leaders in Asia-Pacific, in terms of diabetic public health policies.

Such advantages have helped the rise in the adoption of these products in the Japanese market.

Competitive Landscape

There have been constant innovations driven by manufacturers to compete and struggle in the market while the remaining market comprises other local or region-specific manufacturers. Major companies like Abbott, LifeScan, F. Hoffmann-La Roche AG, and Novo Nordisk are strategically working to develop new technologies in diabetes care devices, which is likely to drive the market in the future.

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