Diabetes Care Devices - Lebanon | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Lebanon is projected to reach US$8.12m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 9.92%, leading to a market volume of US$13.03m by 2029.
In a global context, the majority of revenue will be generated the United States, which is anticipated to reach US$11.71bn in 2024.
In Lebanon, the rising prevalence of diabetes is driving increased demand for innovative diabetes care devices, significantly influencing the local medical technology landscape.

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 Lebanon is witnessing considerable growth, fueled by rising prevalence of diabetes, increased health awareness, and advancements in technology that enhance patient monitoring and management capabilities.

Customer preferences: In Lebanon, consumers are increasingly prioritizing personalized diabetes management solutions, reflecting a shift towards more tailored healthcare experiences. This trend is influenced by a growing awareness of the importance of lifestyle modifications, along with the rising prevalence of diabetes among younger populations. Additionally, cultural nuances emphasize family involvement in health decisions, prompting demand for devices that facilitate shared monitoring. Enhanced digital platforms that enable seamless communication with healthcare providers are also gaining traction, supporting proactive management and education in diabetes care.

Trends in the market: In Lebanon, the Diabetes Care Devices Market is experiencing a notable shift towards integrated health solutions, with consumers increasingly favoring smart devices that offer real-time monitoring and data analytics. The rise of mobile health applications is empowering patients to track their glucose levels more effectively while promoting lifestyle changes. Additionally, the emphasis on family-centric health management is driving demand for shared monitoring tools that facilitate collective decision-making. As digital engagement with healthcare providers expands, industry stakeholders must adapt to these evolving preferences by innovating user-friendly devices and enhancing connectivity features, ultimately improving patient outcomes and satisfaction.

Local special circumstances: In Lebanon, the Diabetes Care Devices Market is shaped by a unique blend of cultural practices and economic challenges. The prevalence of familial support in health management encourages the adoption of devices that facilitate shared monitoring among family members. Moreover, the country’s diverse geography, with its urban and rural disparities, creates a demand for portable and accessible diabetes care solutions, especially in remote areas. Regulatory hurdles also impact market dynamics, as stakeholders navigate complex approvals while striving to introduce innovative products that cater to local needs.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Lebanon is significantly influenced by macroeconomic factors such as national economic stability, healthcare investment, and regulatory frameworks. The country's economic challenges, including inflation and currency fluctuations, affect consumer purchasing power and healthcare spending. Furthermore, government initiatives aimed at enhancing healthcare infrastructure and access can lead to increased adoption of diabetes care devices. Global trends, such as the rise in diabetes prevalence and technological advancements, also drive demand for innovative solutions. Regulatory support for medical devices is crucial in fostering a conducive environment for market growth, enabling stakeholders to introduce effective products that meet local needs.

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.