Diabetes Care Devices - APAC

APAC

Highlights

Revenue in the Diabetes Care Devices market market in the Asia-Pacific region is anticipated to reach US$7.52bn in 2024.
The revenue is forecasted to exhibit an annual growth rate (CAGR 2024-2029) of 13.17%, leading to a market volume of US$13.96bn by 2029.
In a global context, the majority of revenue will be generated the United States, with a projected figure of US$11.71bn in 2024.
In APAC, countries like India are witnessing a significant rise in demand for innovative diabetes care devices, driven by increasing urbanization and lifestyle changes.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Diabetes Care Devices Market within the Medical Devices sector in APAC is witnessing considerable growth, fueled by rising diabetes prevalence, technological advancements, and increased demand for remote monitoring solutions among patients and healthcare providers.

Customer preferences: Consumers in the APAC Diabetes Care Devices Market are increasingly prioritizing personalized and user-friendly solutions, reflecting a shift towards more tailored healthcare experiences. The growing awareness of diabetes management is prompting individuals to seek integrated devices that offer real-time data tracking and insights. Additionally, cultural emphasis on preventive health is leading to a rise in mobile applications that facilitate lifestyle changes, while demographic shifts towards an aging population are driving demand for easy-to-use monitoring tools that support independent living.

Trends in the market: In the APAC Diabetes Care Devices Market, there is a notable trend towards the integration of advanced technology in diabetes management solutions. Wearable devices equipped with continuous glucose monitoring (CGM) are increasingly popular, enabling real-time data analysis for better decision-making. Additionally, mobile health applications are gaining traction, providing users with personalized insights and lifestyle recommendations. This shift towards technology-driven care reflects a growing demand for enhanced patient engagement and self-management capabilities, ultimately influencing product development strategies among industry stakeholders seeking to meet evolving consumer expectations.

Local special circumstances: In the APAC Diabetes Care Devices Market, unique local factors significantly shape market dynamics. Countries with diverse healthcare infrastructures, like Japan and Australia, emphasize regulatory compliance and stringent quality standards, fostering trust in advanced diabetes technologies. Cultural attitudes towards health, particularly in China and India, encourage proactive diabetes management, driving demand for wearable devices and mobile applications. Additionally, varying levels of urbanization impact technology adoption, with urban populations more inclined to embrace digital health solutions for real-time diabetes monitoring and management.

Underlying macroeconomic factors: The APAC Diabetes Care Devices Market is significantly shaped by macroeconomic factors such as rising healthcare expenditures, demographic shifts, and economic stability. Countries with robust economic growth, like India and China, are witnessing increased investment in healthcare infrastructure, facilitating access to advanced diabetes care technologies. Additionally, government initiatives promoting preventive healthcare and chronic disease management are enhancing market opportunities. The growing prevalence of diabetes, coupled with urbanization trends, encourages innovation in devices and digital solutions. Furthermore, global supply chain dynamics and trade policies also impact the availability and affordability of diabetes care devices across the region.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

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Medical technology industry - statistics & facts

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.