Diabetes Care Devices - Southeast Asia

Revenue in the Diabetes Care Devices market market in Southeast Asia is projected to reach US$582.90m in 2024.
Revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 13.69%, leading to a market volume of US$1.11bn 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.
The Diabetes Care Devices market in Southeast Asia is experiencing increased demand driven by rising awareness and advancements in telehealth technology.

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 within the Medical Technology Market in Southeast Asia is experiencing considerable growth, driven by factors such as increasing diabetes prevalence, technological advancements, and heightened awareness of disease management among patients and healthcare providers.

Customer preferences: Consumers in Southeast Asia are increasingly prioritizing personalized diabetes management solutions, reflecting a shift towards more tailored healthcare approaches. This trend is influenced by rising health consciousness among younger populations and the integration of traditional wellness practices with modern technology. Additionally, the growing acceptance of telehealth services is facilitating access to diabetes care, while the demand for mobile applications for glucose monitoring is on the rise, driven by convenience and real-time data sharing among patients and healthcare providers.

Trends in the market: In Southeast Asia, the Diabetes Care Devices Market is experiencing a surge in the adoption of wearable glucose monitoring devices, as consumers seek innovative ways to manage their health. There's a notable increase in the use of mobile health applications that enable real-time data tracking and personalized insights, enhancing patient engagement. Furthermore, the integration of artificial intelligence in diabetes management tools is gaining momentum, allowing for predictive analytics that inform treatment decisions. These trends are significant as they empower patients and healthcare providers alike, potentially leading to improved health outcomes and reduced healthcare costs. For industry stakeholders, this shift presents opportunities for investment in technology development, partnerships with digital health platforms, and a focus on patient-centric solutions to remain competitive in the evolving market landscape.

Local special circumstances: In Southeast Asia, the Diabetes Care Devices Market is influenced by diverse cultural attitudes towards health and wellness, as well as varying levels of healthcare infrastructure across countries. Urbanization is driving demand for convenient, tech-enabled solutions, while traditional beliefs may affect the acceptance of modern medical devices. Regulatory frameworks also differ, with some nations adopting quicker pathways for device approvals, fostering innovation. These local factors shape consumer preferences and create unique opportunities for market players to tailor their offerings to meet regional needs effectively.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Southeast Asia is significantly influenced by macroeconomic factors such as rising disposable incomes, urbanization, and increasing healthcare expenditure. As national economies grow, there is greater investment in healthcare infrastructure, enabling wider access to diabetes care technologies. Additionally, global economic trends, such as the shift towards preventive healthcare, drive demand for innovative diabetes management devices. The varying fiscal policies across countries also play a role, as government support for healthcare initiatives can enhance market penetration. Furthermore, the growing awareness of diabetes prevalence underscores the urgent need for effective management solutions, further propelling market growth.

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.