Self-monitoring blood glucose devices market size in China 2019-2024
In 2019, the market size of self-monitoring blood glucose (SMBG) devices in China was estimated at 1.3 billion yuan. The monitoring and control of blood glucose level are crucial for patients suffering from diabetes. There is no cure so far for this potentially fatal disease. Yet, it can be effectively managed through education, adoption of healthy lifestyles with different medications and blood glucose testing equipment.
Why is SMBG important to diabetes patients?
Diabetes is a long-term disease that occurs when the pancreas fails to produce any or enough insulin, or when the body does not use the insulin it produces properly. Self-monitoring blood glucose devices support the maintenance of blood glucose at the desired levels, in which hypoglycemia (low blood sugar levels) or hyperglycemia (high blood sugar levels) can be detected and prevented. In China, blood glucose monitoring is a multibillion-yuan-worth business which consists of two segments: glucometer devices and disposable consumables (lancet and test strips). The latter is the main revenue driver.
The market outlook of diabetes management
Beijing has launched various healthcare programs and reforms to strengthen diabetes-related care. Under the current regulation, local governments are obliged to provide a free medical check-up per year to citizens aged over 65 years. According to “Healthy China 2030” - the national health plan launched in 2016 - the diabetes awareness rate would be increased to 50 percent by 2022, a significant increment compared to the level in 2019. The overall goal is to raise the standard management rate of diabetes to over 70 percent by 2030. Alongside positive changes in policy and regulatory environment, technological advancements have been thriving in the diabetes care market. One example is the collaboration of the Danish drugmaker Novo Nordisk and the Chinese medical consulting platform WeDoctor to offer doctors and patients to stay in touch through a user-friendly mobile app.
Why is SMBG important to diabetes patients?
Diabetes is a long-term disease that occurs when the pancreas fails to produce any or enough insulin, or when the body does not use the insulin it produces properly. Self-monitoring blood glucose devices support the maintenance of blood glucose at the desired levels, in which hypoglycemia (low blood sugar levels) or hyperglycemia (high blood sugar levels) can be detected and prevented. In China, blood glucose monitoring is a multibillion-yuan-worth business which consists of two segments: glucometer devices and disposable consumables (lancet and test strips). The latter is the main revenue driver.
The market outlook of diabetes management
Beijing has launched various healthcare programs and reforms to strengthen diabetes-related care. Under the current regulation, local governments are obliged to provide a free medical check-up per year to citizens aged over 65 years. According to “Healthy China 2030” - the national health plan launched in 2016 - the diabetes awareness rate would be increased to 50 percent by 2022, a significant increment compared to the level in 2019. The overall goal is to raise the standard management rate of diabetes to over 70 percent by 2030. Alongside positive changes in policy and regulatory environment, technological advancements have been thriving in the diabetes care market. One example is the collaboration of the Danish drugmaker Novo Nordisk and the Chinese medical consulting platform WeDoctor to offer doctors and patients to stay in touch through a user-friendly mobile app.
