Diabetes Care Devices - Gambia | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Gambia is projected to reach US$339.80k in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 12.51%, leading to a market volume of US$612.40k by 2029.
In a global context, the majority of revenue will be generated the United States, amounting to US$11.71bn in 2024.
In Gambia, the rising prevalence of diabetes is driving demand for innovative diabetes care devices, highlighting a critical need for accessible healthcare solutions.

Definition:
The Diabetes Care Devices market, a medical technology market, includes medical devices used in the management and treatment of diabetes. These devices range from blood glucose meters and continuous glucose monitoring systems to insulin pumps, insulin pens, and other related accessories. It is important to note that the market does not include pharmaceutical products used in the treatment of diabetes, such as insulin and oral hypoglycemic agents.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Medtronic, Abbott Laboratories, and Roche Diagnostics. Further information on the key players can be found in the Market Shares boxes.

Blood glucose monitoring devices
Insulin delivery devices

Diabetes drugs
Diabetes supplements

The Diabetes Care Devices Market in Gambia is witnessing substantial growth, fueled by increasing prevalence of diabetes, rising health awareness, and advancements in technology. Enhanced accessibility to innovative devices is further driving this upward trend in the medical technology sector.

Customer preferences: Consumers in Gambia are increasingly favoring user-friendly diabetes care devices that offer real-time monitoring and personalized health insights, reflecting a cultural shift towards proactive health management. The growing adoption of mobile health applications is also evident, particularly among younger demographics who prioritize convenience and connectivity. Additionally, educational initiatives are fostering a greater awareness of diabetes management, prompting a demand for integrated solutions that combine traditional care with innovative technology, enhancing overall patient engagement and adherence.

Trends in the market: In Gambia, the Diabetes Care Devices Market is experiencing a surge in demand for smart glucose monitors that integrate seamlessly with mobile health applications. This trend is driven by a shift towards preventive health measures and the rising prevalence of diabetes among the population. The significance of this trend lies in its potential to empower patients with real-time data, enhancing their ability to manage their condition effectively. Industry stakeholders, including device manufacturers and healthcare providers, must adapt to these changes by offering user-friendly, connected solutions that meet the evolving needs of consumers, fostering a collaborative approach to diabetes management.

Local special circumstances: In Gambia, the Diabetes Care Devices Market is influenced by a combination of limited healthcare infrastructure and a strong community focus on traditional medicine. The country's geographical diversity, with rural areas facing healthcare access challenges, drives the demand for portable and easy-to-use diabetes management devices. Additionally, cultural attitudes toward health and wellness emphasize community support, creating opportunities for local partnerships in diabetes education. Regulatory frameworks are evolving, prompting manufacturers to align their products with local health needs, ensuring that solutions are culturally relevant and accessible to all segments of the population.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Gambia is shaped by several macroeconomic factors, including the national economic health and global economic trends. With a focus on improving healthcare access, the Gambian government is gradually increasing healthcare spending, which supports the adoption of diabetes care technologies. Global trends towards preventative health and the rising prevalence of diabetes further drive local demand for effective management devices. Additionally, favorable fiscal policies aimed at enhancing health infrastructure can lead to increased investment in medical technology, fostering innovation and ensuring that diabetes care solutions are both accessible and affordable for the population.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.