Diabetes Care Devices - Haiti | Statista Market Forecast

In Haiti, revenue in the Diabetes Care Devices market market is projected to reach US$5.74m in 2024.
It is anticipated that revenue will exhibit an annual growth rate (CAGR 2024-2029) of 11.52%, leading to a market volume of US$9.90m by 2029.
When compared globally, the majority of revenue will be generated the United States, where it is expected to amount to US$11.71bn in 2024.
Haiti's Diabetes Care Devices market is witnessing a growing demand as local healthcare initiatives increasingly prioritize chronic disease management and patient education.

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 Haiti is witnessing considerable growth, fueled by rising diabetes prevalence, greater access to healthcare technologies, and increased awareness of diabetes management, leading to heightened demand for innovative monitoring solutions.

Customer preferences: In Haiti, there is a notable shift towards personalized diabetes management solutions, as consumers prioritize devices that offer real-time data and integration with mobile applications. The growing influence of social media and community health initiatives is fostering increased awareness about diabetes care, prompting a demand for user-friendly and culturally relevant tools. Additionally, younger demographics are embracing tech-savvy solutions, leading to a rise in telehealth services and remote patient monitoring, enhancing accessibility to care and support for diabetes management.

Trends in the market: In Haiti, the Diabetes Care Devices Market is experiencing a significant shift towards innovative, personalized management solutions as consumers increasingly favor devices that provide real-time monitoring and seamless integration with mobile applications. The influence of social media and community health initiatives is enhancing awareness and education around diabetes, driving demand for intuitive and culturally appropriate tools. Meanwhile, younger populations are adopting technology-driven solutions, leading to a surge in telehealth services and remote monitoring, which ultimately improves access to diabetes care and support for patients across the nation.

Local special circumstances: In Haiti, the Diabetes Care Devices Market is shaped by unique local factors, including a high prevalence of diabetes and limited healthcare infrastructure. Geographically, the country's mountainous terrain complicates access to healthcare facilities, prompting a demand for portable and user-friendly diabetes management devices. Culturally, there is a strong emphasis on community health education, which fosters trust in local initiatives and influences the adoption of innovative solutions. Regulatory challenges also impact market entry, necessitating devices that are both effective and affordable for a diverse population.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Haiti is significantly influenced by macroeconomic factors such as national economic stability, healthcare investment, and international aid. Limited economic growth and high poverty rates hinder the purchasing power of individuals, affecting their ability to access diabetes care devices. Additionally, fluctuating foreign aid levels and fiscal policies impact government spending on healthcare infrastructure, which is crucial for effective diabetes management. Global trends, such as increasing awareness of diabetes and the demand for affordable healthcare solutions, further shape the market, driving innovation and access despite local challenges.

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.