Diabetes Care Devices - Malaysia | Statista Market Forecast

In Malaysia, revenue in the Diabetes Care Devices market market is projected to reach US$70.12m in 2024.
The revenue is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 13.51%, which will culminate in a market volume of US$132.20m by 2029.
When compared globally, the United States is expected to generate the highest revenue in this sector, amounting to US$11.71bn in 2024.
Malaysia is witnessing a surge in demand for advanced diabetes care devices, driven by increasing awareness and government initiatives aimed at managing diabetes prevalence.

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 Malaysia is witnessing considerable growth, fueled by factors such as increasing prevalence of diabetes, rising health awareness, and advancements in technology that enhance patient monitoring and management solutions.

Customer preferences: In Malaysia, there is a notable shift towards integrated diabetes management solutions that cater to the lifestyle preferences of a tech-savvy population. Consumers are increasingly favoring smart devices that offer real-time data sharing with healthcare providers, reflecting a desire for personalized care. Additionally, the growing emphasis on preventative health measures has led to a rise in demand for educational platforms and community support groups. This trend is further influenced by the younger demographic's inclination towards mobile health applications that facilitate easier monitoring and adherence to treatment regimens.

Trends in the market: In Malaysia, the Diabetes Care Devices Market is experiencing a significant trend towards the adoption of smart glucose monitoring systems that integrate seamlessly with mobile applications. This shift is driven by a tech-savvy population seeking real-time health insights and personalized care management. Furthermore, healthcare providers are increasingly leveraging data analytics to enhance patient engagement and adherence to treatment protocols. The emphasis on preventative care is fostering partnerships between device manufacturers and educational platforms, aiming to equip patients with knowledge and resources. These developments are expected to reshape the market landscape, presenting opportunities for innovation and collaboration among industry stakeholders.

Local special circumstances: In Malaysia, the Diabetes Care Devices Market is shaped by a combination of cultural factors and government initiatives focused on health awareness. The diverse population, with varying dietary habits and lifestyles, necessitates tailored diabetes management solutions. Additionally, the Malaysian government promotes health literacy programs, encouraging the use of digital health technologies. The regulatory environment supports innovation while ensuring patient safety, fostering a competitive landscape for local and international manufacturers. These unique dynamics are driving the adoption of advanced diabetes care devices that cater to local needs.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Malaysia is significantly influenced by macroeconomic factors such as global economic trends, national economic stability, and government fiscal policies. The rising prevalence of diabetes, coupled with Malaysia's growing healthcare expenditure, creates a robust demand for innovative diabetes management solutions. Additionally, favorable trade agreements and foreign direct investment in the medical technology sector enhance access to advanced devices. As the government prioritizes healthcare initiatives and health literacy, the market is further supported by initiatives aimed at improving healthcare infrastructure, ensuring that patients receive timely and effective care.

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.