Asia Pacific Diabetes Devices Market Size, Share & Trends Analysis Report By Type (Blood Glucose Monitoring Devices, Insulin Delivery Devices), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Diabetes Clinics/Centers, Online Pharmacies, Others), By Application (Hospitals, Homecare, Diagnostics Centers) and By Country(China, Korea, Japan, India, Australia, Taiwan, South East Asia, Rest of Asia-Pacific) Forecasts, 2022-2030

Market Overview

During the projected period, the Asia Pacific Diabetes Devices Market is expected to increase at a CAGR of 8.2 %, reaching a total value of 11,650 million USD in 2030.

When the pancreas is unable to produce insulin from the blood, diabetes develops. Untreated diabetes is caused by high blood sugar levels. Diabetes medications are used to treat diabetes. Diabetic treatment aims to increase blood glucose levels. Diabetics utilise diabetes care tools to monitor their blood glucose levels. A continuous glucose monitor (CGM) is a medical gadget that tracks and monitors diabetes patients' blood glucose levels throughout the day. People with diabetes will benefit from this wearable device since it can help them manage their glucose levels. Ketone metres, blood glucose metres, continuous glucose metres, insulin pumps, smart insulin pens, and diabetes management software are examples of diabetic monitoring equipment. Patients can improve their health by using glucose monitoring devices to maintain and control their glucose levels.

 Due to the large diabetes population, Asia-Pacific is the fastest expanding area in the global market. Due to the high prevalence of diabetes, China and India account for the largest proportion of the Asia-Pacific diabetes care devices market.

Market Dynamics

Market drivers

• Increasing Obesity: Obesity is a huge problem and a major source of concern in every country in the region. Obesity affects roughly one in every two adults and nearly one in every six children. Obesity and overweight refer to improper or excessive fat accumulation in the body that causes health problems. Obesity is a major factor in the rise of diabetes in the region's population and the trend is observed in countries like India, Pakistan, Sri Lanka etc and thus this factor is a driver for diabetic care device market growth.

• Growing Attention to Diabetes Care: Due to the increasing number of government and charitable activities aimed at raising diabetes awareness, the use of diabetic devices is expected to rise. mDiabetes, a mobile health programme, was launched by the Ministry of Health and Family Welfare, the WHO Country Office for India, and other partners. This public health initiative aims to increase diabetes early detection and treatment awareness. Similarly, the WHO and the IDF work together to prevent and control diabetes while also guaranteeing a high quality of life for people all over the world. The WHO Diabetes Program, for example, strives to prevent type 2 diabetes, reduce complications, and improve the quality of life of diabetes patients. NGOs and governments are defining norms and standards, boosting diabetes prevention awareness, and supporting monitoring to improve diabetes prevention and control. As a result, the growing number of diabetes awareness campaigns is anticipated to lead to an increase in diabetes diagnosis and, as a result, the use of diabetic devices.

Market restraints

• Low medical literacy rate and awareness: A significant proportion of the population of Asia Pacific region comes from the rural area where the illiteracy rates are really high, also the level, quality and awareness for the medical facilities are not up to the mark and hence a large amount of people are unaware about these devices and even about this disease which may impede the growth of the market in this region.

• Blood glucose metres can often produce errors in the results. Performance concerns include falsely high or low findings, as well as improper calibration. The errors could be due to the metre or the test strips. Faulty manufacture might result in difficulties such as failure to turn on or switching to the wrong units. Errors in the results can occur for a variety of reasons, which might cause customers to lose trust and act as a deterrent.

Market opportunities

• Large market in countries like India and China: The world’s two most populated countries that is China and India both are situated in Asia Pacific region and hence the region contains a lot of people having type 1 or type 2 diabetes which is a great opportunity for the players to target this region in future. Considering the population, the trend is expected to grow even more and a large demand is expected for diabetes device market.

Regional Analysis

Due to the large diabetes population, Asia-Pacific is the fastest expanding area in the global market. Due to the high prevalence of diabetes, China and India account for the largest proportion of the Asia-Pacific diabetes care devices market. According to the World Health Organization, Asia-Pacific is home to more than 60 percent of the world's diabetics, with India and China accounting for 90 million and 62 million diabetics, respectively. Both countries are predicted to have a diabetic population of half a billion people by 2030.

The Asia-Pacific diabetes care device market is dominated by China. The rapid urbanisation, high-calorie diet, and physical inactivity that are the main causes of China's high diabetes prevalence can be related to the Chinese market's expansion. During the projection period, India is expected to grow rapidly. The rising prevalence of diabetes, rising illness awareness, changing eating patterns, and rising disposable incomes in India are all expected to boost the growth of the Indian diabetes care devices market.

The Japan Association for Diabetes Education and Care runs a few diseases management programmes in the Japanese healthcare system. In terms of diabetes public health policies, Japan is a regional leader in Asia-Pacific. The country promotes public awareness and supports preventative programmes that emphasise lifestyle and nutritional changes to reduce the risk of adult-onset diabetes.

Segmental Analysis

The market segment of Asia Pacific diabetes devices market region has been categorised by type, distribution channel, and end-use.

According to type, the diabetes devices market is divided into blood glucose monitoring devices and insulin administration devices. The insulin delivery devices sector is likely to lead the market, with a projected value of USD 30,412.19 million by 2030, representing a 7.62 percent CAGR over the forecast period.

The expanding number of rules and approvals for technological developments in insulin delivery devices such as insulin pens, insulin pumps, jet injectors, and other devices are some of the key driving factors for demand for insulin delivery devices. The growing acceptability of insulin patches and smart insulin pumps for diabetes self-management is one of the factors boosting demand for insulin delivery devices.

Based on the distribution channel, the diabetic devices market has been divided into hospitals, retail pharmacies, diabetes clinics/centres, internet pharmacies, and others. The retail pharmacies sector is estimated to lead the market, with revenues of USD 11,491.59 million by 2030, representing a CAGR of 6.92 percent over the forecast period. Some of the reasons projected to promote the growth of the retail sales segment over the projection period include rising penetration of private-label products in retail stores at lower prices.

Based on application, the diabetic devices market has been divided into hospitals, home care, and diagnostic centres. The hospitals category is likely to lead the market, with revenues of USD 19,845.68 million expected by 2030, representing a CAGR of 6.42 percent during the forecast period. Diabetic people are increasingly being admitted to hospitals.

Type 1 diabetes patients had longer hospital stays, a higher death rate, and more complications than type 2 diabetes patients. Type 1 diabetes patients are administered insulin to prevent ketoacidosis, although they have a higher rate of hyperglycemia. As a result, an increase in the number of type 1 diabetes patients in hospitals, as well as an increase in the demand for continuous blood glucose monitoring, are two factors pushing up the demand.

Impact of covid-19

COVID Impact: During COVID-19, supply chain interruptions hampered the trade, causing a lack of raw materials for producers and a delay in delivering finished items in the form of blind bolts to customers. As official prohibitions around the world have been lifted, demand for blind bolts has already begun to rebound to pre-pandemic levels.

Recent Developments

• Abbott and Insulet announced a partnership to combine next-generation glucose detection and automated insulin delivery technology for seamless diabetes treatment. This partnership could combine Abbott's continuous glucose monitoring (CGM) technology with Insulet's Omnipod Horizon Automated Insulin Delivery System to create an accurate, user-friendly digital health platform.