Saudi Arabia Diabetes Care Devices Market size, Growth & Forecast 2027

 

Saudi Arabia Diabetes Care Devices Market

The Saudi Arabia Diabetes Care Devices Market is expected to grow at a robust CAGR over the forecast period (2020-2027).

The factors driving growth of the Saudi Arabia Diabetes Care Devices Market includes increase in Government’s expenditure on enhancing the healthcare infrastructure, growing prevalence of diabetes, rising consumers inclination towards adopting healthy lifestyles and rapid urbanization. According to the report published by International Trade Administration (ITA), under the Vision 2030, the Government of Saudi Arabian Government is planning to invest more than USD 65 billion for developing country’s healthcare infrastructure and targets to privatize 290 hospitals, which will push the market growth in coming years. Moreover, growing adoption of advanced technologies by manufacturers, rising awareness about preventive diabetes care, increase in the launch of new products and improvements in the living standards, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and development, strategic mergers and collaborations between companies and rising population growth rates, are further contributing towards the market growth.

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However, growth of the Diabetes Care Devices Market in Saudi Arabia is hindered attributed to its negative effects.

Based on Product Type, the Blood Glucose Monitoring Device segment is predicted to capture the largest market share during the forecast period

Blood glucose monitoring devices are increasingly gaining popularity in Saudi Arabia because it automatically tracks blood glucose levels, throughout the day and night and allows users to monitor changes over a few hours or day, are propelling the segment’s growth.

On the other hand, the Insulin Delivery Device segment is projected to grow at a significant CAGR attributed to increasing prevalence of diabetes across Saudi Arabia, rising per capita incomes and rapid urbanization.

Based on End-User, the Homecare Setting segment is anticipated to expand at a remarkable CAGR over the forecast period

Increasing availability of homecare diabetes devices at affordable prices, rising consumers preference for purchasing blood glucose monitoring devices rather than visiting hospitals and growing population growth rates, are some of the factors augmenting the segment’s growth. 

Market Segmentation

Segmentation by Product Type

  • Blood Glucose Monitoring Device
  • Insulin Delivery Device

Segmentation by End-User

  • Hospitals
  • Homecare Setting
  • Others

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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