China Diabetes Device Overview
The International Diabetes Federation 10th edition 2021 projects that between 2021 and 2030, there would be a 164.07 million increases in the number of Chinese adults living with diabetes, up from 140.87 million. By 2045, this is predicted to increase to 174.43 million.The need for cutting-edge gadgets like glucose meters, insulin pumps, and continuous glucose monitoring systems is rising due to the rising trend of diabetes. The market is growing because of the growing need for these devices, which is also driving innovation and the availability of diabetes management solutions that can enhance patient outcomes and quality of life.
Due in large part to the growing opportunity for growth presented by this rising demand for cutting-edge equipment, both domestic and foreign market participants are becoming more active in an effort to increase their market share in the nation.
For example, Trinity Biotech and Bayer signed a non-binding Letter of Intent in January 2024 to introduce a CGM biosensor device in China. The partnership seeks to address China's rising diabetes incidence by expanding access to CGM technology and offering doctors and patients cutting-edge, data-driven healthcare options. It is anticipated that these market payer measures will boost the number of cutting-edge devices available on the market, propelling market expansion.
Growth Drivers for the China Diabetes Device Market
China's Population with Type 1 Diabetes Is Growing
One in ten Chinese people are estimated to have diabetes, and millions more cases are reported annually in the 21st century. However, because there are so many cases that go undiagnosed, it is difficult to determine the prevalence with accuracy. According to reports, China now has more people with diabetes worldwide than India did. The illness is more common in cities, where rates are rising due to factors like traditional eating habits eroding and fast economic expansion. An aging population, rising living standards, and urbanization are the main causes of this increase.The National Health Commission (NHC) has taken action in response to the current health crisis by lowering medical expenditures for people with diabetes and hypertension and covering more than half of their prescription drug prices. Furthermore, more hospitals are being encouraged to build National Metabolic Management Centers (MMCs), which investigate cutting-edge diabetic treatment models, by the National Metabolic Disease Clinical Research Center. These MMCs have already served over 200,000 patients in the last two years, according to NHC data, demonstrating China's dedication to tackling diabetes management and enhancing patient care.
Government initiatives are highly significant
Through strong regulations and financial support, government actions in China are essential to the advancement of diabetes care. By lowering the cost of medications, the National Health Commission has made diabetes control a priority and increased patient access to therapies. The adoption of cutting-edge diabetes devices and technologies is facilitated by improved healthcare infrastructure, which includes the creation of National Metabolic Management Centers. These facilities support diabetes treatment research and innovation in addition to offering comprehensive care. Patients gain from better management options as a result, which propels the market for diabetes devices and guarantees superior health outcomes for the general public.China Diabetes Device Company Analysis
The major participants in the China Diabetes Device market includes Roche, Abbott Laboratories, Novo Nordisk A/S, BD, Medtronic, Eli Lilly, Sanofi.China Diabetes Device Company News
In June 2024, The National Medical Products Administration (NMPA) of China has approved Novo Nordisk's type 2 diabetic medication, Ozempic (semaglutide). The medication, a GLP-1 receptor agonist, has shown promise in regulating blood sugar levels and promoting weight loss.In June 2023, China's NMPA approved AstraZeneca's Xigduo XR, a once-daily fixed-dose combination of metformin extended-release and SGLT2 inhibitor dapagliflozin, for the treatment of individuals with type 2 diabetes. With this approval, a novel medication is made available to tackle the large unmet demand in this patient population for convenient, efficient medicines that can lower problems and increase adherence.
Types - Industry is divided into 4 viewpoints:
1. Self-Monitoring Devices2. Continuous Glucose-Monitoring Devices
3. Insulin Pumps
4. Insulin Pens
Distribution Channel - Industry is divided into 4 viewpoints:
1. Hospital Pharmacies2. Retail Pharmacies
3. Diabetes Clinics/Centers
4. Online Pharmacies
All companies have been covered with 5 Viewpoints
1. Overviews2. Key Person
3. Recent Developments & Strategies
4. Product Portfolio & Product Launch in Last 1 Year
5. Revenue
Company Analysis
1. Roche2. Abbott Laboratories
3. Novo Nordisk A/S
4. BD
5. Medtronic
6. Eli Lilly
7. Sanofi
Key Questions Answered in Report:
1. How big is the China Diabetes Device industry?2. What is the China Diabetes Device industry growth rate?
3. Who are the key players in Germany China Device industry?
4. What are the factors driving the China Diabetes Device industry?
5. Which Region held the largest market share in the China Diabetes Device industry?
6. What segments are covered in the China Diabetes Device Market report?
Table of Contents
Companies Mentioned
- Roche
- Abbott Laboratories
- Novo Nordisk A/S
- BD
- Medtronic
- Eli Lilly
- Sanofi
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 6.22 Billion |
| Forecasted Market Value ( USD | $ 12.74 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | China |
| No. of Companies Mentioned | 7 |
