Market Insights Health Medical Technology Medical Devices

Diabetes Care Devices - GCC

Revenue in the Diabetes Care Devices market market in the Gulf Cooperation Council (in Gulf Cooperation Council (GCC)) is anticipated to achieve US$335.00m in 2024.
It is forecasted that revenue will exhibit an annual growth rate (CAGR 2024-2029) of 12.53%, culminating in a market volume of US$604.50m by 2029.
In a global context, the highest revenue is expected to be generated the United States, with a figure of US$11,710.00m in 2024.
The GCC region is witnessing a significant shift towards advanced diabetes care devices, driven by increasing health awareness and government initiatives to enhance chronic disease management.

Key regions: Netherlands, Japan, France, Italy, China

Market

Region

Region comparison

Currency

Analyst Opinion

The Diabetes Care Devices Market in the GCC is witnessing considerable growth, fueled by factors such as increasing prevalence of diabetes, advancements in technology, and heightened awareness about diabetes management among patients and healthcare providers.

Customer preferences: Consumers in the GCC are increasingly prioritizing personalized and user-friendly diabetes care devices that integrate seamlessly into their daily routines. There is a growing demand for smart glucose monitors and insulin delivery systems that offer real-time data and mobile connectivity, reflecting a shift towards tech-savvy health management. Additionally, cultural emphasis on family health and community well-being is encouraging collaborative diabetes management, with patients seeking devices that facilitate shared monitoring among family members and healthcare providers.

Trends in the market: In the GCC, the Diabetes Care Devices Market is experiencing a surge in demand for advanced, user-friendly technologies that enhance patient engagement and self-management. Smart glucose monitors equipped with mobile connectivity are increasingly popular, allowing real-time data sharing with healthcare providers. Additionally, insulin delivery systems are evolving to offer more precise dosing and integration with lifestyle apps. This trend signifies a shift towards proactive health management, fostering collaboration among family members and caregivers. Industry stakeholders must adapt to these preferences, focusing on innovative solutions that prioritize user experience and connectivity to remain competitive in this dynamic market.

Local special circumstances: In the GCC, the Diabetes Care Devices Market is shaped by a unique blend of cultural attitudes towards health and wellness, alongside a rapidly evolving regulatory landscape. The region's emphasis on preventative healthcare and chronic disease management is driving demand for innovative diabetes solutions. Additionally, high smartphone penetration facilitates the adoption of mobile health applications, enabling users to track their health seamlessly. Regulatory bodies are increasingly supportive of advanced medical technologies, fostering partnerships between local firms and international manufacturers to enhance market offerings.

Underlying macroeconomic factors: The Diabetes Care Devices Market in the GCC is significantly influenced by macroeconomic factors such as rising healthcare expenditure, increasing prevalence of diabetes, and a growing focus on preventative care. National economic health, characterized by stable GDP growth and diversification efforts away from oil dependency, is fostering investment in healthcare technologies. Furthermore, favorable fiscal policies and public-private partnerships are enhancing infrastructure and innovation in medical devices. Global economic trends, such as the shift towards value-based care and digital transformation, are also driving demand for advanced diabetes management solutions, ensuring better health outcomes for patients across the region.

Methodology

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.