2030 diabetes medical expenditure will exceed 770 billion US dollars non-invasive blood glucose monitoring is blue ocean
According to the biotechnology research report released by Global Market Research Institute TrendForce on the 8th, diabetes is an important global chronic disease issue. Due to the high average cost of treatment, the national medical financial burden is caused. The global population of people with diabetes is rapidly rising, with an estimated 580 million in 2030 and related medical expenditures exceeding $770 billion. Therefore, countries are actively engaged in health education advocacy, improve patients' self-control of blood sugar, and the demand for stimulating blood glucose monitoring equipment is increasing.
Kexin Hui, a biotechnology analyst at TrendForce, said that the global market for blood glucose meters was about $8.98 billion in 2014. Currently, the European and American regions are still the largest global blood glucose monitoring instrument market, and the Asia-Pacific region has the most potential for development.
According to the report, the prevalence of diabetes in the Asia-Pacific region is quite high. However, some areas such as China and India have not yet developed due to patient habits. The market penetration of blood glucose monitoring instruments is still low, and it will become the main growth kinetic energy of the global blood glucose meter market in the future.
In addition, blood glucose meters can be divided into two categories: invasive (blood collection) and non-invasive (non-blood collection). The market is dominated by invasive blood glucose monitors, and is supported by Roche, Johnson & Johnson, Abbott Laboratories, Bayer (which sells diabetes care business to Panasonic Healthcare in 2015). International manufacturers are oligopolistic, with a market share of over 80%.
Ke Xinhui pointed out that the invasive blood glucose meter technology has a low threshold and can meet the needs of high-performance, low-price customers. The development has become a homogenized, low-end price competitive market, and the large factory oligopoly also reduces the profitability of small factories.
The non-invasive blood glucose meter can eliminate the patient's self-contained blood discomfort and infection risk. However, due to technical thresholds and high cost, the accuracy still needs to be strengthened, etc. There is no successful product case. So far, the US FDA has only approved one product to be listed. However, sales have stopped, and only a few products have been approved in Europe.
Ke Xinhui said that non-invasive blood glucose monitoring is still in the blue ocean market. If the technology breaks through, it will be expected to subvert the existing market structure and become an opportunity for manufacturers to seize the market in the next step.
At present, the technical bottleneck of non-intrusive monitoring includes sensor sensitivity, signal processing and data analysis, among which high accuracy is the biggest challenge. Ke Xinhui further pointed out that international companies such as Google, Apple, Samsung, etc. are also entering the development of non-invasive blood glucose monitoring technology, which is bound to impact the traditional business model of traditional companies. In the face of internal and external problems, if enterprises can make good use of their own advantages and alliances with domestic ICT manufacturers, they will have the opportunity to inject new energy into new technologies and capital.
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