MARKET OUTLOOK
According to Triton, the continuous glucose monitoring system comprising (CGMS) and self-monitoring of blood glucose (SMBG) market in South Korea is expected to proliferate with a CAGR of 29.98% and 5.02% respectively, in the forecast period of 2019-2025.
Diabetes is one of the leading causes of several life-threatening diseases, such as heart disease, stroke, kidney disease, etc. CGMS is preferable to blood glucose testing devices that show glucose readings at intervals. Using glucose monitoring systems for diabetic patients helps to stabilize elevated HbA1C levels, thus minimizing the risk of developing long-term diabetic complications. The use of glucose monitoring systems in diabetes management is thus driving the glucose monitoring system market in South Korea. Due to lack of access to healthcare facilities and health insurance, people from lower economic strata of the society are not able to avail treatment. This acts as a major limiting factor for the growth of the glucose monitoring system market.
COMPETITIVE OUTLOOK
The preeminent companies in the South Korea glucose monitoring system market are Johnson & Johnson, ARKRAY, Inc., i-SENS, Inc., Roche Diagnostics, B Braun Melsungen AG, Abbott, Becton Dickinson and Company, Apex Biotechnology Corp. and OSANG Healthcare.