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| China Continuous Glucose Monitoring Devices Market |
Continuous
glucose monitoring (CGM) devices provide real-time glucose readings and trends
for people with diabetes. CGM devices monitor glucose levels just under the
skin through a tiny sensor inserted by the user. The sensor detects glucose
levels in the interstitial fluid, which is the fluid between cells, and
transmits the levels wirelessly to a receiver or smart device. CGM devices
provide actionable information to patients and healthcare providers to make
informed treatment decisions. They help optimize insulin delivery and dosage,
reduce time spent in hypoglycemia or hyperglycemia, and improve glycemic
control. The increasing prevalence of diabetes in China, coupled with growing
awareness regarding diabetes management, has augmented the demand for continuous
glucose monitoring devices in the country.
The
global China Continuous Glucose Monitoring Devices Market is estimated to be
valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over
the forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends: One of the key trends in the China continuous glucose
monitoring devices market is the increasing adoption of next-generation CGM
systems with advanced features. Manufacturers are focusing on developing
innovative CGM systems with extended sensor wear time, enhanced accuracy and
precision, minimal user intervention, integration with other medical devices
like insulin pumps, and remote monitoring capabilities. For instance, Dexcom G6
CGM system offers up to 10 days of wear, factory calibration, customizable
alerts, and connectivity features allowing data sharing. Medtronic also
launched the Guardian Connect CGM system with an innovative smart transmitter
providing automatic calibrations and 7 days of wear time. Such innovative
products are improving the user experience and driving the adoption of advanced
CGM systems in China.
Porter's Analysis
Threat of new entrants: The China continuous glucose monitoring devices market
has moderate threat of new entrants due to the increasing healthcare
expenditures and rising disposable income of consumers. However, established
brands dominate the market.
Bargaining power of buyers: The bargaining power of buyers is high due to the
presence of many regional players providing substitutes at lower prices. Buyers
can easily switch to alternative products from other manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as
key raw material suppliers for manufacturing continuous glucose monitoring
devices have established supply chains.
Threat of new substitutes: The threat of new substitutes is moderate as
alternative low-cost blood glucose monitoring devices are available in the
market.
Competitive rivalry: The competition in the China continuous glucose monitoring
devices market is high due to the presence of numerous national and
international brands.
Key Takeaways
Regional analysis
The eastern region dominates the China continuous glucose monitoring devices
market due to the growing diabetic population and increasing healthcare
expenditures in this region. The northern and central regions also offer
lucrative opportunities for market players.
Key players
Key players operating in the China continuous glucose monitoring devices market
are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited,
Ingredion Incorporated, Tate & Lyle PLC, Didion Milling, Semo Milling,
Agrana Beteiligungs-AG, The Andersons, Inc., LifeLine Foods. Cargill
Incorporated holds the largest market share in China owing to its diversified
product portfolio and widespread distribution network across the country.
Get
more insights on this topic:
https://www.marketwebjournal.com/china-continuous-glucose-monitoring-devices-market-market-size-share-analysis-growth/
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