The Asia Pacific Diabetes Care Devices Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
Diabetes technology refers to the gear, gadgets, and software that diabetic people use to help them manage their blood glucose levels, avoid diabetes complications, lessen the burden of diabetes, and improve their quality of life. Traditionally, diabetes care technology has been separated into two categories viz. insulin delivered via pen, syringe, or pump, and blood glucose monitoring via meter or continuous glucose monitor. More recently, diabetes technology has developed to include hybrid devices that monitor glucose and dispense insulin, sometimes automatically, as well as software that acts as a medical device and helps people manage their diabetes. When used effectively, diabetes technology can enhance people's lives and health.
Insulin pens are more convenient since they combine the vial and the syringe into one device. Insulin pens with preloaded cartridges or reusable insulin pens with changeable insulin cartridges are available for push-button injections. Some reusable pens have a remembering capability that allows the user to recall dosing amounts and times. There are also smartpens that can be configured to compute insulin doses and generate downloadable data reports. Pens also differ in terms of dosing increments and minimum doses, which can range from half-unit to two-unit increments.
There is high adoption of an unhealthy and sedentary lifestyle in this region. According to the International Diabetes Federation, 90 million adults (20-79) in the IDF South-East Asia region will have diabetes. By 2030, this number is expected to rise to 113 million, and by 2045, to 152 million. Undiagnosed diabetes affects 46 million people in the IDF SEA Region, accounting for 51% of all adults with diabetes in the region. Impaired Glucose Tolerance (IGT) affects 47 million people in the IDF SEA Region, putting them at risk of developing type 2 diabetes. By 2030, this number is estimated to rise to 59 million, with 77 million by 2045. In the IDF SEA Region, diabetes was accountable for 747,000 fatalities in 2021.
In China, unhealthy diets and a lack of physical activity are contributing to rising rates of obesity and overweight, both of which are risk factors for Type 2 diabetes. In China, more than a third of adults are overweight, with 7% of them being obese. Children in China are also in danger of acquiring diabetes due to unhealthy lifestyles as more than 4 in 5 adolescents aged 11 to 17 do not get enough physical activity, as well as rates of obesity and overweight in children, are rapidly rising. As a result, increased diabetes incidence would propel the growth of the diabetes care devices market.
The China market dominated the Asia Pacific Diabetes Care Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2,232.9 Million by 2028. The Japan market is estimated to grow at a CAGR of 5.5% during (2022 - 2028). Additionally, The India market would witness a CAGR of 6.8% during (2022 - 2028).
Based on Product, the market is segmented into Insulin Delivery Devices and Blood Glucose Monitoring Devices. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Diabetes Care Devices Market is Projected to reach USD 29.3 Billion by 2028, at a CAGR of 5.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F. Hoffmann-La Roche Ltd., DexCom, Inc., Novo Nordisk A/S, Sanofi S.A., Zealand Pharma A/S, B. Braun Melsungen AG, Bayer AG, Abbott Laboratories, Ypsomed AG, Arkray, Inc.
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