China Diabetes Market to Reach US$ 7.1 Billion by 2028, Stimulated by Numerous Healthcare Reforms

November 15, 2018 | Healthcare

According to the latest report by IMARC Group, titled “China Diabetes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the China diabetes market size reached US$ 4.3 Billion in 2022. Diabetes is a chronic disease that negatively impacts the body’s ability to produce adequate insulin, break down the sugar present in food, or use insulin efficiently. It can cause premature death and lead to severe complications, such as stroke, amputation, and kidney and heart diseases. It is mainly categorized into three types, which include type 1, type 2 and gestational diabetes. China presently has one of the largest diabetic populations around the world. With around 11% of the global adult diabetic population (according to the International Diabetes Federation), the prevalence of diabetes has grown more than nine-fold within a generation. This can be accredited to significant economic growth, unhealthy eating patterns, hectic lifestyle and lack of physical activity, which is increasing the overweight and obese population in the country.

China Diabetes Market Trends:

Chinese people are genetically more vulnerable to diabetes as compared to Europeans. Apart from this, unawareness about health issues, significant consumption of white rice and poor healthcare infrastructure represent some of the other prominent factors driving the incidences of diabetes. Consequently, the Government of China is introducing numerous healthcare reforms, which is bolstering the market growth. For instance, it is encouraging foreign investments and allowing multinational companies (MNCs) to offer their services in the country. This has enabled patients to diagnose diabetes at the nascent stage and manage it properly. Also, prominent drug manufacturers in China are focusing on increasing their budget for research and development (R&D) activities to create innovative drugs. This trend, in confluence with the highly developed pharmaceutical industry, is contributing to the market growth in the country. Looking forward, the market value is projected to reach US$ 7.1 Billion by 2028, expanding at a CAGR of 9.1% during the forecast period (2023-2028).
 

Market Summary:

  • Based on the segment, the market has been bifurcated into insulin and oral antidiabetics. At present, oral antidiabetics accounts for the majority of the total market share, owing to the rising number of production facilities established in China. They produce and supply insulin pumps, along with other insulin delivery systems across the country.
  • The competitive landscape of the market has been examined, along with the detailed profiles of the major players operating in the industry.
     

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China Diabetes Market to Reach US$ 7.1 Billion by 2028, Stimulated by Numerous Healthcare Reforms
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