Market Trends of China Self-Monitoring Blood Glucose Devices Industry
Rising Diabetes Prevalence in China
The diabetes population in China is expected to grow by about 1.05% over the forecast period.
According to IDF Diabetes Atlas, an estimated 141 million adults were living with diabetes in China which is a rise of 20% over the past two years. It has the highest number of deaths from diabetes in the Western Pacific region, at approximately 1.4 million, and the second-highest diabetes-related health expenditure in the world. More than half of adults currently living with diabetes in China are undiagnosed.
China has the world's largest population of people with diabetes which continues to grow with the country's rapid urbanization. Chinese Ministry of Health has established a network of National Demonstration Areas to develop pilot projects for health promotion, detection, and control of chronic diseases. Various local government departments with country officials are responsible for overall coordination. Primary care providers promote education and self-management of health conditions through appropriate dietary changes, control of tobacco use, and physical activity which are beneficial for diabetes control.
Self-monitoring is a commitment that many diabetic patients follow for managing their condition. The blood glucose levels help the patients and doctors modify their diet, lifestyle, insulin therapy, and medications to help their blood sugar return to normal. With newer innovations in medical technology, glucometers these days have highly sensitive strips and sensors that can detect every component of blood accurately close to lab results.
Therefore, owing to the increasing diabetes prevalence the studied market is anticipated to witness growth over the analysis period.
The Test Strips Segment holds the highest market share in the current year
The Test Strips Segment holds the highest market share of about 73.6% in the current year.
Blood glucose test strips are small disposable strips and are a key component of blood glucose testing. When blood is placed onto the test strip, it reacts with a chemical called glucose oxidase producing gluconic acid from the glucose in the blood. At the other end of the test strip, the meter transfers a current to the test strip. The test strip has electric terminals which allow the meter to measure the current between the terminals. The current between the terminals changes depending on the level of gluconic acid that has been produced. The blood glucose meter then uses an algorithm to work out the blood glucose level based on the difference in current.
The growth in market share of test strips is expected to be higher than that of glucose meters, because of the difference in use-case frequency. The Glucometer is a one-time purchase, however, test strips, on the other hand, are a continuous investment as a test strip needs to be disposed of after one use, causing a recurrent cost impact. While an average glucose meter lasts anywhere between six months and three years, presenting a one-time cost, during the same time frame.
The Healthy China 2030 Plan, approved by the State Council and the Party's Central Committee puts diabetes, along with cancer, hypertension, and cardiovascular diseases in the four major non-communicable diseases with a goal to 'control the prevalence and reduce the probability of early death.' The central government launched a 2017-2025 plan to control non-communicable diseases, which includes increasing the regular monitoring and self-management rate for diabetes patients from 50% to 70% by 2025. Such factors are expected to boost market growth.
