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Asia Pacific Glucose Monitoring System Market Forecast 2019-2028

The Asia Pacific glucose monitoring system CGMS market is estimated to reach a CAGR of 24.60% over the forecast period, and the SMBG market is anticipated to register a CAGR of 6.27% during the projected period of 2019-2028. One of the significant factors making the region a lucrative market for GMS is increasing healthcare expenditure.

The Asia Pacific glucose monitoring system market growth is further surveyed by segmenting the region into the Philippines, India, South Korea, Vietnam, Malaysia, Australia, Thailand, Japan, Indonesia, China, and the rest of Asia Pacific that includes Bhutan, Cambodia, Bangladesh, Maldives, and many other small countries. Indonesian healthcare system depends largely on private sources that are market and profit-oriented, and are responsible for 80% of total health expenditure. The pharmaceutical industry in Indonesia is getting consolidated. In Malaysia, diabetes is a major public health concern, affecting 2.8 million adults above the age of 30. Malaysia has an efficient system of a two-tier healthcare system consisting of government and private healthcare services. Public health services are offered for the entire population in the country, though under-staffing and long waits make people opt for private services. Medical devices, like blood glucose and pressure monitors, are gaining popularity. In countries like the Philippines, diabetes is surging at an alarming rate, due to the sedentary lifestyle and increasing dependence on electronic gadgets. Diabetes is not covered comprehensively by national insurance, and private insurance companies offer limited coverage.
Thailand is witnessing an increasing occurrence of diabetes due to an unhealthy lifestyle, high obesity rates, and an aging society. The government has launched nationwide programs for health promotion and disease prevention. UCS, a national insurance scheme covers 76% of the population. Vietnam has been facing the prevalence of diabetes for the last ten years, with one in every 20 adults suffering from diabetes. The average diabetes-related expenditure per patient is more than the average monthly salary in Vietnam. In Cambodia and Bangladesh, there is a high prevalence of diabetes. Type 2 diabetes cases are increasing in the Maldives.

Some of the leading companies in the market include, I-Sens Inc, Johnson and Johnson, Nemaura Medical Inc, Medtronic, Morepen Laboratories Ltd, etc.

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Asia Pacific Glucose Monitoring System Market Forecast 2019-2028
Published By :Inkwood Research
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