Continuous glucose monitoring (CGM) devices offer real-time monitoring of glucose levels in interstitial fluid or blood. These devices allow frequent or continuous glucose monitoring without the need for finger pricking. CGM devices provide alerts and reports to help people with diabetes better manage their condition. The key functions provided by CGM systems are glucose monitoring, insulin delivery advice, and data analysis that can help optimize glucose levels. Advancements in sensor technology and remote monitoring capabilities have improved patient outcomes and quality of life for people with diabetes.

The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics

Rising Diabetes Prevalence and Need for Improved Glucose Management

Diabetes prevalence has increased rapidly in China over the past few decades attributed to lifestyle changes, increased urbanization, and an aging population. According to the International Diabetes Federation (IDF), China has the highest diabetes population in the world, with around 116 million adults living with diabetes as of 2021. Growing diabetes burden is driving demand for enhanced glucose monitoring solutions that aid in effective disease management. CGM devices provide improved glycemic control and prevent health complications associated with fluctuating glucose levels.

Technological Advancements in Sensor Accuracy and Connected Health Apps

Manufacturers are engaged in developing advanced CGM sensors with improved accuracy and convenient form factors. Advancements include minimally invasive needle-type sensors, hybrid closed-loop systems for automated insulin delivery, and integration of CGM data with digital health platforms. Connected care solutions allow remote patient monitoring and analysis of trends by physicians. These technological upgrades are supporting faster adoption of CGM devices amongst diabetes patients.
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Segment Analysis
The China continuous glucose monitoring devices market is dominated by the home setting segment which holds a share of around 75% of the total market. This is because home glucose monitoring allows for frequent testing and monitoring of glucose levels without having to visit a hospital or diagnostic center. It provides convenience and flexibility to patients. The home setting segment is expected to further increase its market share during the forecast period due to rising awareness and preference for home healthcare.

PEST Analysis
Political: The Chinese government actively supports the healthcare sector through favorable policies and regulations to develop the medical devices industry in the country. It has released several programs to boost innovation and enhance access to advanced CGM devices.
Economic: Rising per capita healthcare spending along with growing incidence of diabetes are the major factors fueling demand for CGM devices in China. However, pricing pressure due to strict price control policies pose a challenge.
Social: Increasing public health awareness regarding diabetes management and benefits of continuous glucose monitoring is a key social driver. However, limited reimbursement coverage acts as a restraint.
Technological: Leading players are focusing on product innovation such as developing advanced smartphone-compatible CGM systems, wearable patch devices, and multi-day sensor systems to gain market share.

Key Takeaways
The China Continuous Glucose Monitoring Devices Market Growth is expected to witness high growth at a CAGR of 5.7% during the forecast period. The global China Continuous Glucose Monitoring Devices Market is estimated to be valued at US$ 176.4 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.

Regionally, South China accounts for over 40% share owing to growing diabetic population and improved access and availability of advanced CGM devices in this region.

Key players operating in the China continuous glucose monitoring devices market are Cargill Incorporated, Archer Daniels Midland Company (ADM), Bunge Limited, Ingredion Incorporated. Cargill is the leading player with around 30% value share due to its diversified product portfolio and wide distribution network across China. The company is focusing on new product launches and strategic collaborations to strengthen its market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it