The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 billion in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strength: China Continuous Glucose Monitoring Devices Market has strong government support in the form of favorable policies and regulations for diabetes management products.
Weakness: Heavy dependence on imports for continuous glucose monitoring devices leads to unfavorable import duties. Limited awareness among patients limits wider adoption of these devices.
Opportunity: Rapid rise in diabetes prevalence along with growing geriatric population offers huge growth opportunities. Increasing health insurance penetration is further augmenting the demand.
Threats: Stringent regulatory approval process delays market entry of new players. Strong competition from alternative diabetes management products poses a major challenge.
Key Takeaways
The China Continuous Glucose Monitoring Devices Market Growth is expected to witness high during the forecast period of 2024 to 2031. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 2 billion in 2024 and is expected to exhibit a CAGR of 3.9% over the forecast period 2024 to 2031.
Regional analysis: The market is primarily dominated by East China region owing to presence of leading domestic players and growing awareness. South China region is also expected to register fastest growth on account expanding healthcare infrastructure and rising disposable incomes.
Key players: Key players operating in the China Continuous Glucose Monitoring Devices Market are Bayer HealthCare AG, Dexcom Inc., Abbott Laboratories, Medtronic plc, Senseonics Holdings, Inc. F. Hoffmann-La Roche Ltd. focuses on expanding their presence through establishment of manufacturing facilities in China to cater to the growing demand. Players are investing in technologies like artificial intelligence and data analytics to make devices more affordable and user-friendly.
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