Asia-Pacific Self-Monitoring Blood Glucose Devices Market Size (2024 - 2029)

The Asia-Pacific Blood Glucose Self-Monitoring Devices Market is projected to experience growth over the forecast period, driven by the increasing prevalence of diabetes and the need for regular monitoring of blood glucose levels. This market expansion is influenced by the rising number of adults living with diabetes in the region, which necessitates the use of self-monitoring devices for effective management of glucose levels. Market participants are employing various strategies, such as collaborations and partnerships, to enhance their market presence and share. These efforts aim to improve access and affordability of blood glucose monitoring solutions, particularly in low- and middle-income countries, thereby contributing to the overall market growth.

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Market Size of Asia-Pacific Self-Monitoring Blood Glucose Devices Industry

Asia-Pacific Self-Monitoring Blood Glucose Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 2.53 Billion
Market Size (2029) USD 3.30 Billion
CAGR (2024 - 2029) 5.50 %

Major Players

Asia-Pacific Self-Monitoring Blood Glucose Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Asia-Pacific Self-Monitoring Blood Glucose Devices Market Analysis

The Asia-Pacific Self-Monitoring Blood Glucose Devices Market size is estimated at USD 2.53 billion in 2024, and is expected to reach USD 3.30 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).

According to International Diabetes Federation (IDF), 90 million adults (20-79) are living with diabetes in the IDF South-East Asia (SEA) Region. This figure is estimated to increase to 113 million by 2030 and 152 million by 2045 and 206 million adults (20-79) are living with diabetes in the IDF Western Pacific Region which is estimated to increase to 238 million by 2030 and 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, which is only possible with the use of self-monitoring blood glucose devices.

Diabetes mellitus has been of wide concern with its high prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments. The market players are adopting various strategies such as collaborations, partnerships, mergers, acquisitions, and expansions to increase market share. For instance, in August 2021, FIND announced that agreements were signed with i-SENS, Inc. (Seoul, South Korea) and SD BIOSENSOR, Inc. (Suwon-si, South Korea) to increase low- and middle-income countries' access to blood glucose test strips by improving affordability.

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

Asia-Pacific Self-Monitoring Blood Glucose Devices Industry Segmentation

Self-monitoring blood glucose is an important aid for diabetic patients. Patients with diabetes can measure their blood glucose to detect hypoglycemia, adjust the insulin doses as needed, and establish their response to nutrition and pharmacotherapy.The report covers Asia-pacific self-monitoring blood glucose devices market forecast, growth, and industry overview, and the market is segmented by components, by end user and by geography. The market provides the value (in USD) and Volume (in Units) for the above-mentioned segments.

Components
Glucometer Devices
Test Strips
Lancets
End User
Hospital/Clinics
Home/Personal
Geography
Japan
South Korea
China
India
Australia
Vietnam
Malaysia
Indonesia
Philippines
Thailand
Rest of Asia-Pacific
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Asia-Pacific Self-Monitoring Blood Glucose Devices Market Size Summary

The Asia-Pacific self-monitoring blood glucose devices market is poised for significant growth, driven by the increasing prevalence of diabetes in the region. With a substantial number of adults living with diabetes, particularly in the South-East Asia and Western Pacific regions, the demand for effective monitoring solutions is on the rise. Self-monitoring devices are crucial for patients experiencing fluctuations in glucose levels, as they enable daily monitoring and timely adjustments in insulin dosage or medication. The market is characterized by strategic collaborations and partnerships aimed at enhancing accessibility and affordability of blood glucose test strips, which hold the largest market share due to their frequent use and recurring cost nature. The test strips segment is expected to continue its dominance over glucose meters, given the ongoing need for regular testing.

China stands out as a key player in the Asia-Pacific market, with the highest market share and a robust growth trajectory. The country's diabetes landscape is marked by a high number of undiagnosed cases and significant health expenditures, prompting initiatives to improve detection and management. Factors such as urbanization, aging population, and lifestyle changes contribute to the rising incidence of type-2 diabetes, underscoring the need for effective self-monitoring solutions. The market is fragmented, with major manufacturers like Abbott, LifeScan, Roche, and Ascensia leading the charge, while local players also contribute to the competitive landscape. Innovations such as non-invasive glucose monitoring technologies further highlight the dynamic nature of the market, which is expected to expand steadily over the forecast period.

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Asia-Pacific Self-Monitoring Blood Glucose Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Components

      1. 2.1.1 Glucometer Devices

      2. 2.1.2 Test Strips

      3. 2.1.3 Lancets

    2. 2.2 End User

      1. 2.2.1 Hospital/Clinics

      2. 2.2.2 Home/Personal

    3. 2.3 Geography

      1. 2.3.1 Japan

      2. 2.3.2 South Korea

      3. 2.3.3 China

      4. 2.3.4 India

      5. 2.3.5 Australia

      6. 2.3.6 Vietnam

      7. 2.3.7 Malaysia

      8. 2.3.8 Indonesia

      9. 2.3.9 Philippines

      10. 2.3.10 Thailand

      11. 2.3.11 Rest of Asia-Pacific

Asia-Pacific Self-Monitoring Blood Glucose Devices Market Size FAQs

The Asia-Pacific Self-Monitoring Blood Glucose Devices Market size is expected to reach USD 2.53 billion in 2024 and grow at a CAGR of 5.5% to reach USD 3.30 billion by 2029.

In 2024, the Asia-Pacific Self-Monitoring Blood Glucose Devices Market size is expected to reach USD 2.53 billion.

Asia-Pacific Self-Monitoring Blood Glucose Devices Market Report Snapshots

Asia-Pacific Blood Glucose Self-monitoring Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)