An emerging market analysis titled “Anticipated Trends, Drivers of Growth, and Obstacles in the Asia-Pacific Self-Monitoring Blood Glucose Devices Market” has been showcased on Report Ocean.
The “ Asia-Pacific Self-Monitoring Blood Glucose Devices Market” report offers comprehensive insights into factors affecting demand, growth, opportunities, challenges, and limitations. It covers global and regional industry dynamics, including research & development, new product launches, and responses from leading players in both global and local markets. The report provides visual representations and regional breakdowns of the Asia-Pacific Self-Monitoring Blood Glucose Devices Market.
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Asia-Pacific Self-Monitoring Blood Glucose Devices Market: Promising Growth
The Asia-Pacific self-monitoring blood glucose devices market is poised for substantial growth, projected to expand at a robust Compound Annual Growth Rate (CAGR) of 6.34% from 2019 to 2024. Several factors are driving this growth, including technological advancements, the rising prevalence of obesity, and the increasing incidence of diabetes.
Product Segment Insights
In 2019, the testing strips segment is anticipated to dominate the market, accounting for a significant market share of 81.64%. This segment is expected to experience a high CAGR of 6.94% during the forecast period, primarily due to innovative developments in testing strips and the surging diabetes cases. Meanwhile, the glucometers segment is expected to maintain stability and contribute 12% of the market revenue in 2019. This segment will benefit from the advantages offered by glucometers over traditional monitoring methods and a wide range of available devices. However, it may exhibit a relatively lower CAGR of 4.95% during the period, partly attributed to result variations due to external and physiological factors.
End User Segment Insights
The shift of healthcare services to decentralized settings such as patients’ homes, along with the emergence of portable and user-friendly blood glucose monitoring devices, is expected to drive the home settings segment. This segment is projected to grow at a robust CAGR of 6.82% from 2019 to 2024. In contrast, the hospitals sector is expected to contribute nearly 7% of the total market revenue in 2019 and is anticipated to expand at a CAGR of 4.78% during the forecast period.
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Country-wise Insights
China and India collectively account for half of the total diabetic population in the Asia-Pacific region. These countries are witnessing advancements in medical facilities, awareness programs, and cost-effective diabetes treatments, positioning the region as one of the world’s fastest-growing self-monitoring blood glucose (SMBG) devices markets. China is expected to experience a robust CAGR of 6.62% during the forecast period, while India’s market is set to expand at a CAGR of 6.46%, driven by healthcare initiatives and government programs.
Key Companies in the Market
Leading players in the Asia-Pacific self-monitoring blood glucose devices market include:
- Wockhardt
- Roche Holding
- Abbott Laboratories
- i-SENS
- Terumo Medical
The comprehensive report delves into market opportunities, CAGR growth rates, competition, technological innovations, analysis of market players, government regulations, and export-import trends across regions and countries, including:
- North America (U.S. & Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Nordic countries, Ireland, Switzerland, Austria, Poland, Turkey, Russia, and the rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, and the rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC countries, North Africa, South Africa, and the rest of Middle East and Africa)
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Report Overview:
This research offers a comprehensive exploration of the emerging trends poised to shape the future business landscape. It delves deep into the pivotal factors driving the growth of the Asia-Pacific Self-Monitoring Blood Glucose Devices market over the projected period. Furthermore, the report sheds light on strategic initiatives undertaken by leading industry players to fortify their market positions.
Market Dynamics:
Encompassing a global perspective, this study presents insights into the influential entities within the worldwide Asia-Pacific Self-Monitoring Blood Glucose Devices market. It encompasses contact details, sales figures, and global market estimates. The research draws from reputable sources and institutions, aggregating a wealth of information and insightful analysis pertaining to the global Asia-Pacific Self-Monitoring Blood Glucose Devices market.
Marketing Insights:
The study furnishes essential facts and statistics relevant for marketers, consultants, and decision-makers navigating the Asia-Pacific Self-Monitoring Blood Glucose Devices market landscape. With comprehensive regional breakdowns, this research offers a vital resource for newcomers venturing into the global Asia-Pacific Self-Monitoring Blood Glucose Devices market. It encapsulates indispensable insights extracted from the Asia-Pacific Self-Monitoring Blood Glucose Devices Market domain, facilitating informed decision-making processes.
This report covers several key questions related to the global Asia-Pacific Self-Monitoring Blood Glucose Devices market, including:
- What can be expected for the Asia-Pacific Self-Monitoring Blood Glucose Devices market in the next decade?
- What are the primary drivers of growth in the Asia-Pacific Self-Monitoring Blood Glucose Devices market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Asia-Pacific Self-Monitoring Blood Glucose Devices market vary based on the size of the end market?
- What is the breakdown of Asia-Pacific Self-Monitoring Blood Glucose Devices by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Asia-Pacific Self-Monitoring Blood Glucose Devices market?
Our most recent research report showcases the thriving expansion of the Asia-Pacific Self-Monitoring Blood Glucose Devices Market and offers in-depth insights into the projected market size, share, and revenue until 2031.
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