GCC Diabetes Care Devices Market

According to GMI Research’s latest report, the GCC Diabetes Care Devices market was valued at USD XX Million in 2019 and is projected to reach USD XX Million by 2027, growing at a CAGR of 5.3% during 2020-2027.

Diabetes care devices are used to monitor the glucose level in the diabetic patient’s body and facilitate the delivery of insulin into the patient’s body. There are two types of diabetes care devices, including the blood glucose monitoring device and the insulin delivery device. The regular monitoring of diabetes improves outcomes and helps in adjusting treatment in real-time. These devices are often used in hospitals, clinics, and other surgical centers.

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The key factors propelling the growth of the GCC Diabetes Care Devices Market include the growing prevalence of diabetes & obesity, favourable investment initiatives by the government of key economies such as U.A.E and Saudi Arabia pertaining to the development of healthcare sector as well as rising technological advancements. According to the International Diabetes Federation (IDF), the prevalence rate of the diabetes disease amounted to 23.9% in Saudi Arabia, 23.1% in Kuwait, and 19.8% in Qatar. Obesity is drastically increasing across the region, with 60% of the patients are adults and 40% are below the age of 18.

The rising investment in the healthcare sector will have a positive impact on the growing demand for the GCC Diabetes Care Devices Market over the coming years. The diabetes care device manufacturers are mainly focusing on technological development in the product to deliver more accurate results. The continuous product innovation will attract a large number of consumers to opt for advanced devices across the GCC countries. In addition to this, rapid urbanization and high disposable income of the middle-class families is encouraging the customers to adopt for diabetes care devices for regular self-monitoring and tracking of diabetes. On the other hand, the growing consumer awareness regarding the side effects associated with some of the diabetes care devices will hamper the growth of the market during the forecast period.

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The blood glucose monitoring devices are anticipated to lead the market during the forecast period owing to the increased demand for technologically advanced diabetes care devices. The glucose monitoring devices provide accurate measurement of the glucose level and gives a warning if the glucose level goes too low or too high. The insulin delivery devices segment is expected to grow at a higher CAGR during the forecast period due to the growing adoption of these devices among the healthcare professionals and patients driven by its remarkable advantages such as high stability and technological advanced properties.

The home care settings segment is expected to grow at a higher CAGR during the forecast period due to its user-friendly feature at an affordable price range. The end-users have significantly shifted towards the usage of diabetes care devices at home rather than going to clinics or healthcare centers for regular health check-up. Moreover, the continuous technological advancement in these devices, followed by the increasing research and development activities to make the devices more user-friendly will further drive the demand of the market over the coming years.

Saudi Arabia region is anticipated to lead the GCC diabetes care devices market in 2019 owing to the increasing government and private funding towards healthcare infrastructure in GCC countries. The rising aging population and the growing consumer awareness regarding the benefits offered by these devices will encourage the consumers towards the usage of diabetes care devices during the forecast period. The rapid advancement in technologies, along with the numerous initiatives taken by the government to spread awareness, will further propel the demand of these devices in the region.

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Key Market Developments:

• • In 2019, Medtronic launched Envision Pro Continuous Glucose Monitoring System to empower healthcare professionals and patients with type 1 or type 2 diabetes to get accurate glucose levels and trend over time which leads to the creation of more favourable diabetes therapy plans.
  • In 2018, Medtronic PLC received U.S. Food and Drug Administration (FDA) approval for its Guardian Connect continuous glucose monitoring (CGM) system for diabetic patients within an age range of 14 to 75 years.
  • In 2018, Abbott announced that its FreeStyle Libre System, one of the company’s revolutionary glucose monitoring system, will now be available to the Medicare patients.

The GCC Diabetes Care Devices market has been segmented on the basis of product type, end-user, and countries. Based on the product type, the market is segmented into blood glucose monitoring device and insulin delivery device. Based on the end-user, the market is segmented into homecare settings, hospitals, and others.

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Key questions answered in this research report:

• • At what pace is the Diabetes Care Devices market growing in GCC? What will be the growth trend in the future?
  • What are the key drivers and restraints in the GCC diabetes care devices market? What will be the impact of drivers and restraints in the coming years?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the GCC diabetes care devices market?
  • What are the various end-user areas and how they are poised to grow?

Market Segmentations:

GCC Diabetes Care Devices market by Product Type

• • Blood Glucose Monitoring Device
  • Insulin Delivery Device

GCC Diabetes Care Devices market by End-User

• • Hospitals
  • Homecare Setting
  • Others

GCC Diabetes Care Devices Market by Countries

• • UAE Diabetes Care Devices Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia Diabetes Care Devices Market All-Up (Option 2: Free 25% Customization)
  • Oman Diabetes Care Devices Market All-Up (Option 3: Free 25% Customization)
  • Qatar Diabetes Care Devices Market All-Up (Option 4: Free 25% Customization)
  • Kuwait Diabetes Care Devices Market All-Up (Option 5: Free 25% Customization)
  • Bahrain Diabetes Care Devices Market All-Up (Option 6: Free 25% Customization)