China’s diabetes device market projected to double by 2032 – report
A new report from Renub Research forecasts that the diabetes device market in China will grow from US$6.22 billion in 2023 to US$12.74 billion by 2032, representing a compound annual growth rate (CAGR) of 8.3% between 2024 and 2032.
Urbanisation, aging populations, sedentary lifestyles, and poor dietary habits have given rise to the prevalence of diabetes in China, the report finds. The International Diabetes Federation’s 10th edition report from 2021 estimates that the number of Chinese adults living with diabetes will increase from 140.87 million in 2021 to 174.43 million by 2045.
Related: Rising diabetes in Malaysia; food costs, social pressure hinder healthy choices
Fuelling demand for advanced diabetes devices
The increasing need for devices such as glucose meters, insulin pumps, and continuous glucose monitoring (CGM) systems is driving market growth. These tools play a vital role in improving diabetes management, patient outcomes, and quality of life. Thus, domestic and international companies are seizing opportunities in this expanding market. For instance, in January 2024, Trinity Biotech and Bayer signed a Letter of Intent to introduce a CGM biosensor device in China. This partnership is anticipated to improve access to CGM technology and provide advanced healthcare solutions for patients and healthcare providers.
The following are key growth factors for the sector as noted in the report:
Rising Type 1 diabetes cases– An estimated one in ten people in China has diabetes, with urban areas experiencing higher rates due to changing lifestyles and economic development. Efforts to address this challenge include the establishment of National Metabolic Management Centers (MMCs) by the National Health Commission (NHC), which have served over 200,000 patients in two years.
Government initiatives – The Chinese government has implemented measures to reduce medical expenses for diabetes patients and improve access to medications. Enhanced healthcare infrastructure, including MMCs, is fostering innovation and research in diabetes treatment, contributing to the adoption of advanced devices and technologies.
Market players and recent developments in the sector – Major companies in the China diabetes device market, which include Roche, Abbott Laboratories, Novo Nordisk, BD, Medtronic, Eli Lilly, and Sanofi, continue to revitalize the industry and meet demands. Meanwhile, recent approvals by China’s National Medical Products Administration (NMPA) are also shaping the market. In June 2024, Novo Nordisk’s Ozempic (semaglutide), a GLP-1 receptor agonist, received approval for type 2 diabetes treatment. Similarly, AstraZeneca’s Xigduo XR, a fixed-dose combination for type 2 diabetes, was approved in June 2023, providing patients with more effective and convenient treatment options.
Related: Philippine Researchers Develop Bitter Gourd Herbal Medicine to Combat Type 2 Diabetes
What the future holds
China’s commitment to addressing its diabetes epidemic, coupled with advancements in technology and strong government support, positions the country as a key player in the global diabetes device market. The ongoing collaboration between public and private sectors is expected to drive innovation, improve patient care, and sustain market growth over the coming decade.
Category: Technology & Devices
