Philippine Diabetes Devices Market Share, Trends, Growth Drivers, Revenue, Challenges, Future Strategies and Competitive Analysis 2023-2033


Philippine Diabetes Devices Market Share, Trends, Growth Drivers, Revenue, Challenges, Future Strategies and Competitive Analysis 2023-2033: SPER Market Research

 Category : Medical Devices

 Published: Feb-2024
 Author: SPER Analyst

Philippines Diabetes Care Devices Market is projected to be worth USD 127.93 million by 2033 and is anticipated to surge at a CAGR of 5.91%.

Blood sugar levels are measured by diabetes care equipment. The body synthesises insulin to maintain blood sugar levels. These medical devices are provided to diabetic patients in order to help them precisely monitor their blood glucose levels and manage their chronic illness. People with diabetes usually utilize diabetes care devices to monitor their blood glucose levels. A continuous glucose monitor (CGM) is a device that diabetic individuals use to track and monitor their blood glucose levels throughout the day. This wearable gadget will benefit the patients by helping them manage their blood sugar levels.

Philippines Diabetes Care Devices Market Driving Factors and Challenges

Drivers: There are multiple significant aspects that are responsible for the rise in the Philippines Diabetes Care Devices Market. First and foremost, a major contributing reason is the nation's growing diabetes prevalence, which is being driven by aging populations, sedentary lifestyles, and poor eating habits. The need for diabetic care devices to successfully control the condition is rising due to its increasing prevalence. Second, the industry is expanding as a result of bettering healthcare facilities and raising public knowledge of diabetes care. More people are obtaining medical care and purchasing diabetic care devices as a result of improved access to healthcare facilities and greater awareness campaigns on the significance of early detection and management of diabetes.
Rise in obesity.

In the general population, obesity is one of the main causes of diabetes. In 2014, about 20% of people worldwide were obese, and almost 50% of people were overweight, according to WHO data. Males are typically more fat than females. Diabetes is becoming more and more common, and risk factors including the rising rate of obesity are directly related to this. The market for diabetes devices is growing as a result.

Diabetes care equipment is pricy and challenging to operate.
The glucose testing equipment is expensive and may be painful. Results from diabetes treatment equipment are not always reliable. Moreover, a few factors hinder the market's expansion. This involves unpleasant sensor insertions as well as the more difficult issue of fitting multiple devices on small bodies. Moreover, disruptive alerts lost signal, leading to data gaps, skin irritation and adhesion issues, and a plethora of confusing data from diabetes care devices.

Impact of COVID-19 on Philippines Diabetes Care Devices Market
The Philippines Diabetes Care Devices Market has been significantly impacted by the COVID-19 pandemic. Diabetes management is becoming more difficult as a result of the pandemic's disruption of healthcare services and access to medical facilities, even as the country's diabetes prevalence continues to climb. Diabetes patients' regular check-ups, consultations, and screenings have been postponed or canceled as a result of lockdowns, quarantine orders, and travel restrictions. Furthermore, some people have been discouraged from getting medical attention due to fears of contracting the virus, which has resulted in inadequate treatment of their disease. Furthermore, the pandemic's effects on household income have made it more difficult for certain patients to purchase diabetic care supplies and prescriptions.

Philippines Diabetes Care Devices Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Abbottt, Becton and Dickenson, Dexcom, Eli Lilly, Insulet, Lifescan, Medtronic, Novo Nordisk, Roche, Sanofi, Tandem.

Philippines Diabetes Care Devices Market Segmentation:

By Monitoring Devices: Based on the Monitoring Devices, Philippines Diabetes Care Devices Market is segmented as; Self-monitoring Blood Glucose Devices, Continuous Blood Glucose Monitoring.

By Management Devices: Based on the Management Devices, Philippines Diabetes Care Devices Market is segmented as; Insulin Pump, Insulin Syringers, Insulin Cartridges, Disposable Pens, Others.

By Region: This research also includes data for Eastern Region, Western Region, Northern Region, Southern Region.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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