China Continuous Glucose Monitoring Devices MarketSize and Trends

The China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 million in 2023 and is expected to exhibit a CAGR of 22.8 % during the forecast period (2023-2030).

China Continuous Glucose Monitoring Devices Market – Driver

Increasing collaborations of key market players

Increasing collaboration between key market players is expected to propel the growth of China continuous glucose monitoring devices market over the forecast period. For instance, on January 23, 2020, DKSH Holding Ltd., a Switzerland-based healthcare solution company, entered into collaboration with LifeScan IP Holdings, LLC., a U.S.-based diagnostic system manufacturer. Under the agreement, DKSH will provide marketing, sales, and regulatory services as well as distribution and logistics for LifeScan across Asian markets.

Launch of new products in market

Increasing launches of new products are also expected to aid in the growth of the market. For instance, on April 14, 2023, Abbott Laboratories, U.S. based medical device company launched its FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) system, which is a small handheld device that displays real-time glucose readings directly from a small sensor worn on the back of a person's upper arm, allowing them to manage their diabetes quickly and easily by viewing their glucose readings on a large, bright and easy-to-see screen.

Figure 1. China Continuous Glucose Monitoring Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2018-2030

China Continuous Glucose Monitoring Devices Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the manufacturing and distribution of products due to lockdown, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Also due to social distancing, the procedures were reduced. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

The COVID-19 pandemic had a positive impact on the China continuous glucose monitoring devices market. This is due to the patients already having diabetes being at higher risk of COVID-19. According to data shared by China CDC on April 3, 2020, the case-fatality rate (CFR) for COVID-19 in China is more elevated among patients with pre-existing conditions from non-communicable disease (NCDs) - 10.5% for cardiovascular disease, 7.3% for diabetes, 6.3% for chronic respiratory disease, 6.0% for hypertension, and 5.6% for cancer. Heart disease and stroke, cancer, chronic lung disease, and diabetes already cause 88% of deaths in China. Now, a person suffering from any of these NCDs is more likely to be fatal if they catch COVID-19.

China Continuous Glucose Monitoring Devices Market: Key Trends

Approval of newer products and accessories

Product approval from regulatory bodies to newer glucose monitoring device accessories can drive growth of china continuous glucose monitoring devices market.

For instance, on November 7, 2022, Eli Lilly and Company, U.S. based global pharmaceutical company, launched the Tempo Personalized Diabetes Management, Platform which supports diabetes self-management through medication reminders, education resources, and insulin dose logging. Data shared through the platform interface may help healthcare providers to make data-driven decisions about care for adults treated with select Lilly insulin. This platform is compatible with Dexcom Continuous Glucose Monitoring System.

On June 24, 2021, Abbott Laboratories, U.S. based multinational medical device company collaborated with Beijing Medical Award Foundation to launch a demonstrative glucose monitoring program for more intelligent diabetes management in China. The program, namely the 2021 Continuous Glucose Monitoring Center of Excellence Program, aims to promote the application of a standardized continuous glucose monitoring system in hospitals across China. The first batch of hospitals, including Tianjin Medical University Chu Hsien-I Memorial Hospital and Hospital of Anhui Medical University, were recognized as the national demonstrative continuous glucose monitoring centers. The program is set to cover hundreds of hospitals across China in three years.

China Continuous Glucose Monitoring Devices Market: Restraint