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Thai Diabetes Devices Market, Forecast to 2023

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Diabetes is a growing global concern, with more than 425 million people suffering the world over. Thailand is no exception. It has a high prevalence of about 8%; there were an estimated 4.

New York, March 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thai Diabetes Devices Market, Forecast to 2023" - https://www.reportlinker.com/p05867513/?utm_source=GNW
25 million diabetics in the country in 2018. Unfortunately, only about 56% of this population is actually diagnosed, meaning almost half of those diabetics are diagnosed only at later stages, often after complications arise; complications that decrease quality of life but increase the cost of care. As the Thai population is predominantly uninsured and not covered for high-cost diabetes management devices, glucose levels tend to be irregularly monitored. This results in even the diagnosed population developing health complications from the condition. The market potential for diabetes devices in Thailand or other Asia-Pacific countries is huge but is hampered by access and affordability. For any company targeting these markets, it is crucial that it understands the current competitive landscape; reimbursement and regulatory policies; and the distribution structure, to determine its opportunity and the best go-to-market strategy. There are four categories of medical devices that are crucial for diabetics: self-monitoring of blood glucose (SMBG) and the professional point-of-care testing (POCT); continuous glucose monitoring (CGM); insulin pens; and insulin pumps. Broadly, these devices can be classified under monitoring (SMBG, POCT, and CGM), and management (insulin pens and insulin pumps). Most of the countries in the Asia-Pacific region import these devices. Multinational majors, and in the case of SMBG some low-cost manufacturers from China and Taiwan cater to the demand for diabetes devices. Some of the major names in the SMBG and POCT testing space are Roche, Abbott, LifeScan, and Ascensia Diabetes Care. In the case of CGM, Medtronic dominates Asia-Pacific, as global majors Dexcom and Abbott have not yet ventured into this region. The insulin pen segment is dominated by Novo Nordisk, Sanofi, and Eli Lilly, though a few other participants (for e.g., Biocon from India) may also be present, depending on the country in question. The insulin pump segment too is also dominated by Medtronic; however, the South Korean SOOIL Development is present in a few APAC countries. Medtronic supplies either a basic and/or an advanced version of its pumps, depending on the country in question. Other western players such as Insulet have not yet entered this market. This study provides an in-depth view of each of the 4 segments: SMBG and POCT; CGM; insulin pens; and insulin pumps through the analyses of drivers, restraints, revenue forecasts, average selling prices of products and consumables, the market shares of top participants, their market strategies, and route to market. In addition, it provides a country-level overview of public health policies for diabetics, reimbursement and regulatory insights, and offers distribution insights by highlighting key distributors and growth opportunities in the country.
Author: Siddharth Shah
Read the full report: https://www.reportlinker.com/p05867513/?utm_source=GNW

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