Bangladesh Diabetes Care Devices Market

Bangladesh Diabetes Care Devices Market Overview

Diabetes care devices are those devices which permit diabetic patients to monitor the glucose level of their body. There are two types of diabetes care devices that include blood glucose monitoring devices and insulin delivery devices. The blood glucose monitoring device is used to test the glucose level in the blood and facilitates to monitor and detects the blood sugar level as it is considered an important part for diabetes treatment. The insulin delivery device allows to keep the blood sugar level normal, and there are several types of such devices like syringes, pens, and pumps. The Bangladesh diabetes care devices market covers a wide range of end-users which include homecare setting, hospitals, and others.

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Major Bangladesh Diabetes Care Devices Market Drivers

The factors which are augmenting the growth of the Bangladesh diabetes care devices market includes the rising diabetic population, obesity & hypertension in the country owing to the high intake of calories and less physical activities, along with modification in the lifestyle which is leading to the increased consumption of processed food. According to the International Diabetes Federation, in March 2020, around 8.3 million people were diabetic in Bangladesh which creates a major challenge for the health system of the country. In Bangladesh, under the fourth Health, Population and Nutrition Sector Programme for 2017-21, the government started the screening of height, blood sugar, wight, cancer and other factors in the upazila health complexes and community clinics.

In addition, growing investments in the healthcare sector and several government initiatives to reduce the spread of diabetes in the country are some major factors that are bolstering the growth of the market over the forecast period. The government of the country launched the first diabetes treatment guideline with an aim to improve the quality of treatment. Diabetes Care BADAS Guideline 2019 was formed jointly by the Non-Communicable Diseases Control Programme of Directorate General of Health Services and the Diabetic Association of Bangladesh (BADAS). The guideline enables to standardize the treatment outline of the diabetic patients and make sure a better outcome.

Restraint in the Bangladesh Diabetes Care Devices Market

The factors which are responsible for hampering the growth of the Bangladesh diabetes care devices market include side effects related to the use of the diabetes care devices. For instance, the long-term use of insulin pumps can cause weight gain and daytime sleepiness.

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Product Type – Segment Analysis

Based on the product type, the blood glucose monitoring device segment is expected to grow at a higher CAGR during the forecast period. The rising adoption of this type of device by the diabetic population and the increasing prevalence of diabetes across the country are the major factors that are proliferating the growth of the market. In addition, increasing awareness related to the importance of maintaining the glucose level in the diabetic patients and the rising geriatric population is leading to the shift towards the self-monitoring of the blood glucose levels. All these key factors are augmenting the growth of the market during the forecast period.

End-User – Segment Analysis

On the basis of the end-user, the home care setting segment is projected to increase at a higher CAGR during the forecast period. The major factors which are accelerating the growth of the market in this segment include the rising inclination of diabetic patients towards the self-monitoring of the glucose level and the offering of a wide range of healthcare services at home by the diabetes care devices at a reduced cost as compared to the hospitals or clinics. In addition, numerous programs of the government, like the Diabetes Prevention Program, which aims to spread awareness to prevent diabetes is further driving the growth of the market.

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Key Developments: 

• • In 2020, Novo Nordisk A/S launched the fastest-acting insulin in the world in the Bangladesh market, owing to the increase in the number of diabetic patients across the country. This insulin works four times faster than the traditional rapid-acting insulin and can be used for type-1 and type-2 diabetic patients.
  • In 2017, Medtronic entered into a strategic partnership with the Diabetic Association of Bangladesh to enhance the outcomes of the patients that are using diabetes care technologies. The company focuses on transforming diabetes care by integrating care and expanding access to offer better health to the people. 

Segments covered in the Report:

The Bangladesh diabetes care devices market has been segmented on the basis of product type and end-user. Based on the product type, the market is segmented into the insulin delivery device and blood glucose monitoring device. Based on end-user, the market is segmented into homecare setting, hospitals, and others. 

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Market Segmentation

Bangladesh Diabetes Care Devices Market by Product Type

• • Insulin Delivery Device
  • Blood Glucose Monitoring Device

Bangladesh Diabetes Care Devices Market by End-User

• • Homecare Setting
  • Hospitals
  • Others