India's Glucose Monitoring Sector Projected to Expand at 2% CAGR by 2033: Study
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New Delhi, Dec 16 (NationPress) With the increasing incidence of diabetes in India, the glucose monitoring sector is projected to expand at a 2 percent compound annual growth rate (CAGR) from 2024 to 2033, according to a report published on Monday.
The analysis by GlobalData, a prominent data and analytics firm, indicates that the rising rates of diabetes in India, coupled with insufficient access to dependable monitoring devices, pose a significant public health issue.
Accurate glucose monitoring is essential for effective disease management; however, affordability and precision are major challenges.
In 2024, India's glucose monitoring market constituted roughly 10 percent of the Asia-Pacific (APAC) market. This demonstrates the increasing emphasis on affordable and innovative solutions designed to meet local requirements.
“Despite the increasing availability of glucose monitoring solutions in India, substantial challenges remain regarding affordability, user education, and accessibility, especially in rural regions. Devices manufactured locally can aid in bridging these gaps, but comprehensive efforts in education and support systems are crucial for effective diabetes management,” stated Kanchan Chauhan, Medical Devices Analyst at GlobalData.
“The diabetes burden in India highlights the immediate need to address gaps in care delivery and to promote consistent disease management. Enhancing healthcare infrastructure and fostering community awareness will be critical for revolutionizing diabetes management and improving long-term health results across the nation,” Chauhan added.
A recent study by ResearchAndMarkets.com revealed that the glucose monitoring devices market in India was valued at $366.53 million in 2024. The report anticipates remarkable growth during the forecast period, projecting a CAGR of 7.08 percent through 2030.
It further highlighted that Maharashtra and Gujarat are likely to significantly influence the glucose monitoring devices market due to a higher prevalence of diabetes and a more developed healthcare system. Increased awareness regarding the necessity of self-monitoring glucose devices has also contributed to their greater adoption.
