New Delhi, December 16 (IANS). Amid rising cases of diabetes in India, the glucose monitoring market in the country is projected to grow at a compound annual growth rate (CAGR) of two percent during 2024-33, according to a report on Monday.
The rising incidence of diabetes in India, coupled with limited access to reliable monitoring tools, poses a major public health challenge, data and analytics company GlobalData reports.
Glucose monitoring is essential for diabetes management, yet affordability and accuracy remain major barriers.
In 2024, India’s glucose monitoring market will account for about 10 percent of the Asia-Pacific market.
The report said this reflects an increasing focus on affordable and innovative solutions tailored to local needs.
Kanchan Chauhan, medical devices analyst at GlobalData, said, “Despite the increasing availability of glucose monitoring solutions in India, there remains a significant gap in affordability, user education and accessibility, especially in rural areas.
Locally manufactured devices can bridge this gap. “But education and support systems remain important for effective diabetes management.”
Chauhan said, “The burden of diabetes in India highlights the urgent need to close gaps in care delivery and continuously promote diabetes management.
“Strengthening healthcare infrastructure and increasing awareness at the community level can improve diabetes management practices and prove vital to improving long-term health outcomes across the country.”
A recent report by ‘ResearchandMarkets.com’ revealed that the glucose monitoring device market in India was estimated to be worth $366.53 million by 2024.
The report states that it is projected to grow impressively with a CAGR of 7.08 percent over the forecast period to 2030.
According to the report, Maharashtra and Gujarat are expected to have a significant impact on the glucose monitoring devices market due to higher prevalence of diabetes and more developed healthcare infrastructure.
Growing awareness of the importance of self-monitoring glucose devices also contributed to its adoption.
–IANS
SKT/CBT
