According to the deep-dive market assessment study conducted by Growth Plus Reports, the global diabetes care devices market was pegged at ~US$ 68,733.5 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of ~8.3% from 2021 to 2031.
Diabetes
prevalence has increased across the Middle East and Africa region, reaching an
all-time high number mostly as a result of lifestyle changes. Numerous health
issues are related to diabetes. Diabetes patients need to make several
adjustments throughout the day to keep their blood glucose levels within
acceptable ranges. Diabetes has become a growing healthcare burden in the
region. In 2021, as per the International Diabetes Federation (IDF), Middle
East and Africa region had 73 million persons with diabetes. By 2030 this
number is likely to reach 95 million patients. Impaired glucose tolerance is a
condition that affects 48 million persons in the MENA region, increasing their
risk of type 2 diabetes. In 2021, healthcare cost for diabetics totalled to
around USD 33 billion.
The
COVID-19 pandemic had a favourable effect on the expansion of the Middle East
and Africa diabetic care devices market. Diabetes problems, aberrant glucose
variability, and increased blood glucose levels were experienced by
COVID-19-infected patients with diabetes. In patients with either type 1 (T1DM)
or type 2 diabetes mellitus (T2DM), the prevalence of diabetes significantly
increased the severity and mortality of COVID-19, particularly in relation to
poor glycaemic control. While newly diagnosed diabetes (T1DM and T2DM), as well
as newly diagnosed hyperglycaemia, had become more widely recognised in the
context of COVID-19 and are linked to worse outcomes. A patient's blood glucose
should be checked frequently to prevent aggravation, which highlights the need
of blood glucose self-monitoring devices. The pandemic emergency has led to an
increase in remote patient and provider care and the removal of many enduring
regulatory impediments.
The
introduction of high-end insulin pumps and pens and other technological
developments in diabetic devices are driving up demand for these devices. To
capture a sizeable portion of the market, top manufacturers are concentrating
on technological advancements and the development of cutting-edge products. For
instance, in February 2019, Abbott and Novo Nordisk formed a non-exclusive
partnership. This partnership was anticipated to contribute to the improvement
of digital diabetes solutions. As part of this collaboration, the LibreView
cloud-based system and the FreeStyle LibreLink mobile app will transmit the
data collected by Novo Nordisk's prefilled durable connected pens to the
digitally connected FreeStyle Libre system. Healthcare practitioners can
evaluate both glucose and insulin data together with this technology integration,
to manage diabetes easier.
Saudi
Arabia dominated the market during forecast period. According to a survey by
the IDF, more than one in ten Saudi Arabians currently have diabetes, and by
2045, this number will practically treble. According to the IDF research, 4.27
million of Saudi Arabia's population of 34.8 million have diabetes, and a
further 1.86 million have the condition but have not yet received any
diagnosis. By 2030, this number will rise to 5.6 million, and by 2045, it will
reach 7.5 million. It is essential that insulin pumps are used in conjunction
with CGM (Continuous Glucose Monitoring) equipment. It can be assumed that the
number of CGM devices marketed will increase as more diabetic people use
insulin pumps to manage their blood sugar levels. There will certainly be a
demand for continuous monitoring in the upcoming years as type-1 patients need
to maintain a constant eye on their blood glucose levels.
Furthermore,
in July 2022, the Saudi government declared that there was an increase in the
need for high-quality healthcare services in Saudi Arabia as a result of
demographic trends, such as an ageing population and rising incidence of
lifestyle disorders including diabetes and obesity. The development of
healthcare entities, certificates, and laws involves both the public and
commercial sectors. To ensure affordability, accessibility, and high-quality
primary care with cost-effectiveness, the government is aiming to ensure that
all Saudi residents have insurance coverage.
Some
of the prominent market participants in the diabetes care devices include
Abbott Laboratories Inc., F. Hoffmann La Roche AG, Novo Nordisk A/S, Becton,
Dickinson & Company (Embecta Corp.), Terumo Corporation, B. Braun Melsungen
AG, Medtronic Plc, and Dexcom Inc. among others
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