Saudi Arabia Diabetes Care Devices Market

Introduction

Diabetes care devices are generally used to measure the glucose level in the diabetic patient’s body and aid the delivery of insulin into the patient’s body. There are basically two types of diabetes care devices: blood glucose monitoring device and insulin delivery device. The regular monitoring of diabetes helps in improving the outcomes and adjusting treatment in real-time. These devices are widely used in hospitals, clinics, and other clinical centers.

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Major Saudi Arabia Diabetes Care Devices Market Drivers

Saudi Arabia Diabetes Care Devices market is majorly driven in Saudi Arabia, growing awareness amongst consumers about self-monitoring of glucose levels and health programs initiated by government. Prevalence of diabetes metillus has increased by 10 times in last 3 decades, as per International Diabetes Federation (IDF) estimates, 4,274.1 million people in Saudi Arabia were living with diabetes in Saudi Arabia in 2021, and this figure is projected to increase by more than 31% by 2030. As the prevalence of diabetes is increasing, demand for various diabetes care products like glucose monitoring devices and insulin delivery devices, which in turn will create growth opportunities for Saudi Arabia diabetes care devices market. Additionally, changing lifestyle, rising disposable income and urbanization is further driving the market growth. There has been a drop-in activity and unhealthy dietary habits, which have led to an increase in the number of lifestyle diseases. Health professionals and researchers are considering diabetes as the greatest epidemic in human history.

Continuous technological advancements in the field of diabetes devices, followed by the increasing consumption of junk food, are the two significant factors that are contributing towards the market growth. Moreover, the growing requirement for faster and safer diagnosis and treatment of diabetes is further propelling the Saudi Arabia diabetes care devices market growth. Availability of reimbursement policies and insurance is creating new growth opportunities for the market. On the other hand, the negative effect related to some of the diabetes care devices is a major factor that is hindering the market growth.

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Product Type – Segment Analysis

According to Saudi Arabia diabetes care devices market analysis, blood glucose monitoring device segment is estimated to hold the largest market share. This is attributed to the strong demand for advanced diabetes care devices in Saudi Arabia. The glucose monitoring devices offer accurate measurement of glucose level and give a warning in case the glucose level is too low or too high. Insulin delivery devices segment is forecast to expand at a faster rate owing to increasing adoption of these devices, especially by healthcare professionals and patients.

End-User – Segment Analysis

On the basis of end-users, the home care settings segment is expected to increase at a higher CAGR in the next six years. The diabetes care devices are increasingly used by diabetes patients at their homes as it is user-friendly and easily available at an affordable price range. With the outbreak of the COVID-19, people now prefer to monitor their glucose level at their homes rather than visiting clinics or hospitals for regular monitoring of their glucose level. This factor will have a positive impact on the growing demand for the segment in the market.

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Segments covered in the Report:

The Saudi Arabia Diabetes Care Devices market has been segmented on the basis of product type, end-user. 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. The other segment is further segmented into clinics and ambulatory surgical centers.

Key Developments:

• • In September 2021, Ministry of Investment in collaboration with Ministry of National Guard Health Affairs announced that it has signed a memoranda of understanding with Pfizer and AstraZeneca to establish clinical research centers in the Saudi Arabia.
  • In June 2021, the Saudi Food and Drug Authority (SFDA) updated about the “Transparency and Payment Disclosure Guidance for Medical and Food Companies”. Main purpose of this update to boost transparency in the health sector by establishing limits on spending by food and drug enterprises on training and education of physicians and medical institutes.

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Key questions answered in this research report:

• • At what pace is Saudi Arabia Diabetes Care Devices market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Diabetes Care Devices market? What will be the impact of drivers and restraints in the future?
  • Which product type generated maximum revenues in 2022 and identify the most promising product types during the forecast period?
  • What are the various end user areas of Saudi Arabia Diabetes Care Devices market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Saudi Arabia Diabetes Care Devices market by Product Type

• • Blood Glucose Monitoring Device
  • Insulin Delivery Device

Saudi Arabia Diabetes Care Devices market by End-User

• • Hospitals
  • Homecare Setting
  • Others
    • Clinics
    • Ambulatory Surgical Centers