"Designing Growth Strategies is in our DNA"
The Middle East & Africa holds a substantial share in the global insulin pump market. The Middle East & Africa insulin pump market size is projected to record a CAGR of 15.2% during the forecast period. The global insulin pump market is projected to grow from USD 4.60 billion in 2022 to USD 15.51 billion by 2030.
The rising number of diabetes patients in the region and growing collaborations for R&D among major players to create new insulin delivery devices are boosting the regional market growth. According to the International Diabetes Federation (IDF) estimates, in 2021, about 73 million adults aged 20-79 years were suffering from diabetes in the Middle East & Africa region.
The report on the Middle East & Africa insulin pump market covers the following countries/regions – GCC, South Africa, and the Rest of the Middle East & Africa.
Rising Technological Advancements for Diabetes Therapy to Boost Industry Growth
The demand for type 1 diabetes therapy is increasing due to the rising incidence of this ailment across the Middle Eastern countries. Thus, healthcare centres are introducing technologically advanced devices for diabetes care to improve the delivery of quality healthcare services and clinical outcomes for patients. Such initiatives by healthcare agencies to boost the presence of new-generation pumps across the Middle East and Africa region are anticipated to propel the market growth.
Increasing Initiatives for Awareness of Diabetes Management Devices to Augment Market Expansion
The prevalence of diabetes and its associated health complications is high across the region. Thus, several government and private agencies are initiating educational and awareness programs for the patient population regarding diabetes care and management. Moreover, strategic approaches by healthcare professionals across social platforms, such as mobile diabetes clinics, therapeutic nutrition, and education on type 1 and type 2 diabetes will increase awareness and adoption of these pumps, further boosting the market growth.
Request a Free sample to learn more about this report.
Limited Insulin Pump Awareness among Middle-Eastern Population to Hamper Market Growth
The demand for insulin and insulin delivery modalities among patients in middle and low-income countries is high. However, limited presence of insulin pumps, high product costs across these countries, and less developed healthcare facilities for diabetes management pose a barrier to accessing healthcare services for patients. Thus, lack of use of these pumps among diabetic patients and low regional awareness may further restrain the Middle East & Africa insulin pump market growth.
The major players, such as Medtronic, F. Hoffmann-La Roche Ltd., and Tandem Diabetes Care, Inc. held a sizable Middle East & Africa insulin pump market share in 2022. The robust growth of these companies is attributable to extensive product offerings and enhanced distribution networks across the region.
Other prominent players, such as EOFLOW CO., LTD. and Terumo Corporation are focusing on inorganic strategies, such as partnerships and sales agreements to expand their distribution networks for diabetes care systems in the regional market. Also, rising authorizations for new products across Middle Eastern countries will further propel the market share of these companies.
To gain extensive insights into the market, Request for Customization
The research report provides a detailed market analysis. It focuses on key aspects, such as the launch of new products, technological advancements, and the incidence of diabetes. Besides this, the report offers key insights into the latest market trends and highlights top industry developments, such as mergers, partnerships, and acquisitions, and effect of the COVID-19 pandemic on the market. In addition to the above-mentioned factors, the report encompasses several factors that have contributed to the market's growth in recent years.
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Unit | Value (USD billion) |
Growth Rate | CAGR of 15.2% from 2023-2030 |
Segmentation | Type; Diabetes Type; Distribution Channel; and Country/Sub-Region |
By Type |
|
By Diabetes Type |
|
By Distribution Channel |
|
By Country/ Sub-Region |
|
Registering a CAGR of 15.2%, the market will exhibit steady growth in the forecast period of 2023-2030.
The key factors driving the market are the rising diabetes care technologies across the region and growing patient awareness.
Medtronic and Insulet Corporation are the major players in the Middle East & Africa markets.
GCC dominated the market in 2022.
US +1 833 909 2966 ( Toll Free )