Diabetes Care Devices - Lesotho | Statista Market Forecast

In Lesotho, revenue in the Diabetes Care Devices market market is projected to reach US$1.11m in 2024.
The revenue is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 12.89%, leading to a market volume of US$2.04m by 2029.
In a global context, the majority of revenue will be generated the United States, where it is expected to reach US$11.71bn in 2024.
Lesotho's diabetes care devices market is witnessing increased interest from local healthcare providers, driven by rising awareness of diabetes management and patient education initiatives.

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 Lesotho is witnessing considerable growth, fueled by increasing diabetes prevalence, heightened awareness of disease management, and advancements in technology that enhance patient care and monitoring efficiency.

Customer preferences: In Lesotho, consumers are showing a growing preference for user-friendly diabetes care devices that integrate technology with traditional health practices. There is an increasing demand for mobile health applications that allow for real-time glucose monitoring and data sharing with healthcare providers. Additionally, lifestyle changes influenced by urbanization are prompting individuals to seek more convenient solutions for diabetes management, including smart insulin pens and continuous glucose monitors. This shift underscores the importance of culturally relevant education and accessibility in promoting effective diabetes care.

Trends in the market: In Lesotho, the Diabetes Care Devices Market is experiencing a notable shift towards integrated health solutions that merge traditional practices with modern technology. There is an increasing adoption of smart insulin pens and continuous glucose monitors, driven by a demand for enhanced convenience and real-time data sharing with healthcare providers. Additionally, mobile health applications are gaining traction, enabling users to monitor glucose levels effectively. This trend highlights the necessity for culturally relevant education and improved accessibility, presenting significant opportunities for industry stakeholders to innovate and expand their offerings in the diabetes management landscape.

Local special circumstances: In Lesotho, the Diabetes Care Devices Market is shaped by its mountainous geography and limited healthcare infrastructure, which create unique challenges for diabetes management. The reliance on community health workers facilitates the introduction of portable devices that can be easily transported to remote areas. Culturally, there is a strong emphasis on traditional healing practices, necessitating the integration of modern diabetes technologies with local customs. Regulatory frameworks are evolving to accommodate innovative solutions, fostering partnerships between local providers and global health tech companies to enhance diabetes care accessibility.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Lesotho is influenced by several macroeconomic factors, including national economic health, global economic trends, and fiscal policies. Limited economic resources and high unemployment rates can hinder access to advanced diabetes care technologies, while international aid and investment in healthcare infrastructure play crucial roles in market development. The rising prevalence of diabetes, coupled with increasing awareness of its management, drives demand for innovative devices. Furthermore, global partnerships and collaborations with health tech companies are essential for integrating new technologies into the local healthcare system, enhancing treatment accessibility.

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.