MARKET OUTLOOK
Triton has concluded that the market for continuous glucose monitoring system comprising (CGMS) and self-monitoring of blood glucose (SMBG) in Vietnam is anticipated to grow at a CAGR 23.96% and 9.99% respectively, over the estimated period from 2019-2025.
The last ten years have seen a sharp rise in the cases of diabetes in Vietnam, with almost twice the number of people reported to be suffering from the disease. At present, one out of every twenty Vietnamese adults is reported to be diabetic. The pervasiveness of diabetes amongst the Vietnamese people is thus contributing to the growth of the glucose monitoring system market in the country. However, the cost of treatments, as well as costs of travel to hospitals, coupled with productivity loss because of illness and prolonged hospital stays, can debilitate the patient’s entire family and drain them financially. As per the International Diabetes Federation, expenses related to diabetes in Vietnam, were US$ 162.7 per patient per year, on an average. Such factors severely hamper the growth of the market, and effective solutions for overcoming such restraints must be developed in order to propel growth.
COMPETITIVE OUTLOOK
The top key players in the market are Roche Diagnostics, B Braun Melsungen AG, i-SENS, Inc., Becton Dickinson and Company, Abbott and Johnson & Johnson.