Dublin, Oct. 15, 2024 (GLOBE NEWSWIRE) -- The "China Diabetes Device Market Forecast Report by Types, Distribution Channel and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
China's Diabetes Device market is expected to reach US$ 6.22 Billion in 2023 to US$ 12.74 Billion by 2032, with a CAGR of 8.30 % from 2024 to 2032. Recent decades have seen a sharp increase in the prevalence of diabetes in China, which presents a serious public health concern for the country.
The need for cutting-edge gadgets like glucose meters, insulin pumps, and continuous glucose monitoring systems is rising due to the rising trend of diabetes. The market is growing because of the growing need for these devices, which is also driving innovation and the availability of diabetes management solutions that can enhance patient outcomes and quality of life.
Due in large part to the growing opportunity for growth presented by this rising demand for cutting-edge equipment, both domestic and foreign market participants are becoming more active in an effort to increase their market share in the nation.
For example, Trinity Biotech and Bayer signed a non-binding Letter of Intent in January 2024 to introduce a CGM biosensor device in China. The partnership seeks to address China's rising diabetes incidence by expanding access to CGM technology and offering doctors and patients cutting-edge, data-driven healthcare options. It is anticipated that these market payer measures will boost the number of cutting-edge devices available on the market, propelling market expansion.
China's Population with Type 1 Diabetes Is Growing
One in ten Chinese people are estimated to have diabetes, and millions more cases are reported annually in the 21st century. However, because there are so many cases that go undiagnosed, it is difficult to determine the prevalence with accuracy. According to reports, China now has more people with diabetes worldwide than India did. The illness is more common in cities, where rates are rising due to factors like traditional eating habits eroding and fast economic expansion. An aging population, rising living standards, and urbanization are the main causes of this increase.
The National Health Commission (NHC) has taken action in response to the current health crisis by lowering medical expenditures for people with diabetes and hypertension and covering more than half of their prescription drug prices. Furthermore, more hospitals are being encouraged to build National Metabolic Management Centers (MMCs), which investigate cutting-edge diabetic treatment models, by the National Metabolic Disease Clinical Research Center. These MMCs have already served over 200,000 patients in the last two years, according to NHC data, demonstrating China's dedication to tackling diabetes management and enhancing patient care.
Government initiatives are highly significant
Through strong regulations and financial support, government actions in China are essential to the advancement of diabetes care. By lowering the cost of medications, the National Health Commission has made diabetes control a priority and increased patient access to therapies. The adoption of cutting-edge diabetes devices and technologies is facilitated by improved healthcare infrastructure, which includes the creation of National Metabolic Management Centers. These facilities support diabetes treatment research and innovation in addition to offering comprehensive care. Patients gain from better management options as a result, which propels the market for diabetes devices and guarantees superior health outcomes for the general public.
China Diabetes Device Company Analysis
The major participants in the China Diabetes Device market include Roche, Abbott Laboratories, Novo Nordisk, BD, Medtronic, Eli Lilly and Sanofi.
China Diabetes Device Company News
- In June 2024, The National Medical Products Administration (NMPA) of China has approved Novo Nordisk's type 2 diabetic medication, Ozempic (semaglutide). The medication, a GLP-1 receptor agonist, has shown promise in regulating blood sugar levels and promoting weight loss.
- In June 2023, China's NMPA approved AstraZeneca's Xigduo XR, a once-daily fixed-dose combination of metformin extended-release and SGLT2 inhibitor dapagliflozin, for the treatment of individuals with type 2 diabetes. With this approval, a novel medication is made available to tackle the large unmet demand in this patient population for convenient, efficient medicines that can lower problems and increase adherence.
Key Questions Answered in Report:
- How big is the China Diabetes Device industry?
- What is the China Diabetes Device industry growth rate?
- Who are the key players in Germany China Device industry?
- What are the factors driving the China Diabetes Device industry?
- Which Region held the largest market share in the China Diabetes Device industry?
- What segments are covered in the China Diabetes Device Market report?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6.22 Billion |
| Forecasted Market Value (USD) by 2032 | $12.74 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | China |
Key Topics Covered:
1 Introduction
2 Research & Methodology
3 Executive Summary
4 Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5 China Diabetes Devices Market
6 China Diabetes Population
6.1 Type 1 Diabetes
6.2 Type 2 Diabetes
7 Market Share Analysis
7.1 By Types
7.2 By Distribution Channel
8 Types
8.1 Self-Monitoring Devices
8.1.1 Test Strips
8.1.2 Lancets
8.1.3 Blood Glucose Meters
8.2 Continuous Glucose-Monitoring Devices
8.2.1 Sensors
8.2.2 Transmitter
8.2.3 Receiver
8.3 Insulin Pumps
8.3.1 Patch Pumps
8.3.2 Tethered Pumps
8.3.3 Consumables
8.4 Insulin Pens
8.4.1 Disposable Insulin Pen
8.4.2 Reusable Insulin Pen
9 Distribution Channel
9.1 Hospital Pharmacies
9.2 Retail Pharmacies
9.3 Diabetes Clinics/Centers
9.4 Online Pharmacies
10 Porters Five Forces
11 SWOT Analysis
12 Reimbursement Policies
12.1 CGM Devices in China
12.2 Blood Glucose Devices in China
12.3 Insulin Pump Products in China
12.4 Insulin Pen in China
13 Key Players Analysis
- Roche
- Abbott Laboratories
- Novo Nordisk
- BD
- Medtronic
- Eli Lilly
- Sanofi
For more information about this report visit https://www.researchandmarkets.com/r/5462h2
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