Asia Pacific Continuous Glucose Monitoring (CGM) Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Diabetic Patients, Critical Patients), By End User Industry (Hospitals, Diagnostic Centers And Clinics, Home Care), And By Geography - Forecasts From 2023 To 2028

The Asia Pacific CGM market is expected to grow at a CAGR of 20.89%, from an initial value of US$547.392 million in 2021 to US$2,065.771 million by 2028.

Continuous sugar monitoring (CGM), sometimes referred to as sugar continuous glucose monitoring, automatically monitors blood glucose throughout the day. Making more educated choices about maintaining daily medication use, a healthy diet, and physical activity can be aided with real-time glucose monitoring. A small sensor used in CGM is implanted beneath the skin, often on the arm or abdomen. The sensor picks up interstitial glucose, which is present in the intercellular fluid. The sensor examines the glucose level every few minutes, and wireless data transmission sends the results to a monitor.

Moreover, the closed-loop bionic/artificial pancreas has been given a blueprint all because of CGMS-based technologies. Thus, businesses that manufacture glucose monitoring devices concentrate largely on creating novel and cutting-edge CGMS. It has several applications for healthcare settings (hospital ICUs, diagnostic centers, and clinics), for all age groups, and geographical locations. A growing awareness of diabetes preventative care, new product debuts, government efforts, and the CGM device market are the major market drivers for CGM Market.

With a huge population and a changing lifestyle, Asia Pacific has experienced a significant rise in the incidence of diabetes throughout time. Technological advancement in the form of an artificial pancreas and rising awareness in Asia-Pacific nations like India, China, Japan, and others are factors driving the CGM industry. The market is expanding due to factors such as a large patient pool, geographic diversification of market participants, rising income levels, and rising living standards of the populace. Together, China and India account for a significant portion of the region's overall population of diabetes patients. Nevertheless, problems including stringent regulatory requirements, insufficient CGM reimbursement alternatives, less accurate findings, and the expense of the CGMs are limiting the market's expansion.

CGM sensors hold the maximum share of continuous glucose monitoring in the Asia Pacific market.

CGM sensors are a prominent market shareholder. Platinum reacts with glucose oxidase in the CGM sensor to create hydrogen peroxide, which subsequently generates an electrical signal that is sent to the transmitter. Throughout the projected period, technological developments to increase sensor accuracy are anticipated to fuel market expansion. CGM has been a popular substitute for portable finger-prick glucometers providing convenience to diabetic patients.

Technological advancements in continuous glucose monitoring influence the market.

The current generation of continuous glucose monitors may either download data and show patterns in blood glucose levels or use receiver displays to show glucose levels in real-time. With the introduction of new technologies, such as mobile phone integration, continuous glucose monitoring devices are becoming more affordable, which is projected to drive the market. For instance, Terumo Corporation stated that the Dexcom G6 continuous glucose monitoring (CGM) system will be made available in Japan. The Dexcom product is made in the United States, and Terumo is the exclusive distributor of Dexcom Products in Japan.

China is projected to be the prominent market shareholder in the continuous glucose monitoring market in Asia-Pacific and is anticipated to continue throughout the forecast period.

China commands more than 50% of the Asia-Pacific continuous glucose monitoring market overall among the region's nations. This is mostly caused by the high prevalence of diabetes in this nation. The Asia-Pacific region's largest healthcare spending is in China. Spending on health care comprises public spending, private out-of-pocket spending, and collective spending. Although basic health insurance is optional in China, its percentage of the population has rapidly increased over the past 10 years. China is third among the nations with the greatest prevalence of diabetes. During the past ten years, Type 2 diabetes (T2D) incidence has significantly risen, making it a major public health concern in China. The rising prevalence of diabetes patients, the expansion of high-calorie diets, and sedentary lifestyles are the main factors driving the growth of diabetes in the nation which is prevailing the growth of CGM in the region.

Market Key Developments

• In February 2023, Dexcom, Inc. announced the introduction of its Dexcom G6 CGM System in Singapore for diabetics two years of age and older, including pregnant women, as well as the selection of DKSH Singapore Pte Ltd as a supplier of sales, marketing, and distribution services.
• In December 2022, The Dexcom G6 CGM System now has increased payment coverage under the Japanese medical insurance system, according to a Terumo Company announcement. A larger population of patients with diabetes will be able to get reimbursement utilizing the Dexcom G6 CGM System in Japan thanks to the recently created category of "C150."

Asia Pacific Continuous Glucose Monitoring (CGM) Market Scope:

Segmentation:

• By Application
  • Diabetes Patients
  • Critical Patients
• By End-User Industry
  • Hospitals
  • Diagnostic Centers & Clinics
  • Home Care
• By Geography
  • China
  • Japan
  • India
  • South Korea
  • Thailand
  • Indonesia
  • Taiwan
  • Others