Philippines Diabetes Care Devices Market Growth, Trends, Size, Challenges and Future Outlook
Philippines Diabetes Care Devices Market Size- By Monitoring Devices, By Management Devices- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2024 | Report ID: MEDE2407 | Pages: 1 - 108 | Formats*: |
| Category : Medical Devices | |||
Philippines Diabetes Care Devices Market Introduction and Overview
According to SPER Market Research, the Philippines Diabetes Care Devices Market is estimated to reach USD 127.93 million by 2033 with a CAGR of 5.91%.
The report includes an in-depth analysis of the Philippines Diabetes Care Devices Market, including market size and trends, product mix, distribution channels, and supplier analysis. Diabetes care devices are used to measure blood sugar levels, which are a result of insulin synthesis in the body. Patients with diabetes are given these care devices to better manage their chronic illness and to accurately monitor their blood glucose levels. Diabetes care devices are frequently used to track blood glucose levels in diabetics. An apparatus used by diabetic patients to track and monitor their blood glucose levels throughout the day is called a continuous glucose monitor (CGM). The patients will gain from this wearable device by having assistance in controlling their blood sugar levels.
- September 2023: The Department of Health (DOH) in the Philippines is alerting the public about false information about diabetes treatments. The DOH stresses that leading a healthy lifestyle instead of depending on certain goods that are sold online helps prevent non-communicable diseases like diabetes.
- In April of 2022, Abbott, CamDiab, and Ypsomed announced their collaboration to create and market an integrated automated insulin delivery (AID) system throughout Europe. The wearable solution is smart and linked, meaning it eliminates the need for human intervention in insulin administration by automatically adjusting and delivering the appropriate amount at the appropriate time based on continuous glucose monitoring.
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Market Opportunities and Challenges
Opportunities:
Governmental programs and campaigns to raise awareness:
The industry is expanding as a result of numerous government programs and awareness campaigns. One organized patient education and management program for those with recently diagnosed type 2 diabetes is the UK DESMOND education program. Its goal is to assist individuals in recognizing potential health hazards early on. The amount of money provided by the government to healthcare has also increased. According to the International Diabetes Federation, the cost of healthcare associated to diabetes is rising quickly. In addition, Bigfoot and Abbott worked together to get FDA approval for the Bigfoot Unity Diabetes Management system in 2021.
Challenges:
Diabetes care devices are expensive and difficult to use.
The glucose testing apparatus can cause pain and is costly. Diabetes treatment equipment don't always produce accurate results. Furthermore, a few things prevent the market from growing. This includes the more challenging task of fitting several devices on little bodies, as well as uncomfortable sensor insertions. Furthermore, disruptive alarms lost signal, which resulted in data gaps, skin irritation and adhesion problems, and an abundance of difficult-to-interpret data supplied by diabetes care devices.
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Market Competitive Landscape
The market for diabetes monitoring equipment has grown because to new advancements including continuous glucose monitoring. Automated insulin delivery is made possible by commercial mergers and acquisitions, such as Dexcom's acquisition of TypeZero Technologies. Instead of just expanding the market for continuous glucose monitors, the acquisition has given Dexcom an advantage in the battle to create an artificial pancreas.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Monitoring Devices, By Management Devices |
| Regions covered | Eastern Region, Western Region, Northern Region, Southern Region |
| Companies Covered | Abbott, Becton and Dickenson, Dexcom, Eli Lilly, Insulet, Lifescan, Medtronic, Novo Nordisk, Roche, Sanofi, Tandem |
COVID-19 Impact on Philippines Diabetes Care Devices Market
A strain of the SARS-CoV-2 virus is responsible for the outbreak of the novel sickness COVID-19. When a patient contracts the virus, the majority will experience mild to moderate respiratory symptoms and recover without the need for specific treatment. Life-threatening illnesses are more common in the elderly and in people with underlying medical conditions such diabetes, hypertension, heart disease, lung disease, obesity, and cancer. Individuals with diabetes may be equally susceptible to contracting COVID-19 as individuals without the disease. But because diabetes is a core feature of the disease, diabetics are more likely than non-diabetics to become hospitalized, require admission to the intensive care unit, experience severe side effects, and die from COVID-19.
Key Target Audience
- Healthcare Providers (Hospitals, Clinics, Physicians)
- Diabetes Care Device Manufacturers
- Pharmaceutical Companies
- Medical Device Distributors and Suppliers
- Healthcare Regulatory Authorities
- Healthcare IT Companies
- Research and Development Organizations
- Healthcare Consultants and Advisory Firms
Our in-depth analysis of the Philippines Diabetes Care Devices Market includes the following segments:
| By Monitoring Devices: |
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| By Management Devices: |
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| By Region: |
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Key Topics Covered in the Report
- Philippines Diabetes Care Devices Market Size (FY’2024-FY’2033)
- Overview of Philippines Diabetes Care Devices Market
- Segmentation of Philippines Diabetes Care Devices Market By Monitoring Devices (Self-monitoring Blood Glucose Devices, Continuous Blood Glucose Monitoring)
- Segmentation of Philippines Diabetes Care Devices Market By Management Devices (Insulin Pump, Insulin Syringers, Insulin Cartridges, Disposable Pens, Others)
- Expansion Analysis of Philippines Diabetes Care Devices Market
- Problems and Obstacles in Philippines Diabetes Care Devices Market
- Competitive Landscape in the Philippines Diabetes Care Devices Market
- Impact of COVID-19 and Demonetization on Philippines Diabetes Care Devices Market
- Details on Current Investment in Philippines Diabetes Care Devices Market
- Competitive Analysis of Philippines Diabetes Care Devices Market
- Prominent Players in the Philippines Diabetes Care Devices Market
- SWOT Analysis of Philippines Diabetes Care Devices Market
- Philippines Diabetes Care Devices Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Philippines Diabetes Care Devices Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Philippines Diabetes Care Devices Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Philippines Diabetes Care Devices Market
7. Philippines Diabetes Care Devices Market, By Monitoring Devices (USD Million)
7.1. Philippines Diabetes Care Devices Market Value Share and Forecast, By Monitoring Devices, 2023-20337.2. Self-monitoring Blood Glucose Devices
7.2.1. Glucometer Devices7.2.2. Test Strips7.2.3. Lancets
7.3. Continuous Blood Glucose Monitoring
7.3.1. Sensors7.3.2. Durables
8. Philippines Diabetes Care Devices Market, By Management Devices (USD Million)
8.1. Philippines Diabetes Care Devices Market Value Share and Forecast, By Management Devices, 2023-20338.2. Insulin Pump
8.2.1. Insulin Pump Devices8.2.2. Insulin Pump Reservoir8.2.3. Infusion Set
8.3. Insulin Syringers8.4. Insulin Cartridges8.5. Disposable Pens8.6. Others
9. Philippines Diabetes Care Devices Market Forecast, 2020-2033 (USD Million)
9.1. Philippines Diabetes Care Devices Market Size and Market Share
10. Philippines Diabetes Care Devices Market, By Monitoring Devices, 2020-2033 (USD Million)
10.1. Philippines Diabetes Care Devices Market Size and Market Share By Monitoring Devices (2020-2026)10.2. Philippines Diabetes Care Devices Market Size and Market Share By Monitoring Devices (2027-2033)
11. Philippines Diabetes Care Devices Market, By Management Devices, 2020-2033 (USD Million)
11.1. Philippines Diabetes Care Devices Market Size and Market Share By Management Devices (2020-2026)11.2. Philippines Diabetes Care Devices Market Size and Market Share By Management Devices (2027-2033)
12. Philippines Diabetes Care Devices Market, By Region, 2020-2033 (USD Million)
12.1. Philippines Diabetes Care Devices Market Size and Market Share By Region (2020-2026)12.2. Philippines Diabetes Care Devices Market Size and Market Share By Region (2027-2033)12.3. Eastern Region12.4. Western Region12.5. Northern Region12.6. Southern Region
13. Company Profile
13.1. Abbott
13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments
13.2. Becton and Dickenson
13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments
13.3. Dexcom
13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments
13.4. Eli Lilly
13.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments
13.5. Insulet
13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments
13.6. Lifescan
13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments
13.7. Medtronic
13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments
13.8. Novo Nordisk
13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments
13.9. Roche
13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments
13.10. Sanofi
13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments
13.11. Tandem
13.11.1. Company details13.11.2. Financial outlook13.11.3. Product summary13.11.4. Recent developments
13.12. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Philippines Diabetes Care Devices Market is projected to reach USD 127.93 million by 2033, growing at a CAGR of 5.91% during the forecast period.
Philippines Diabetes Care Devices Market grew in Market size from 2022. The Market is expected to reach USD 127.93 million by 2033, at a CAGR of 5.91% during the forecast period.
Philippines Diabetes Care Devices Market CAGR of 5.91% during the forecast period.
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Philippines Diabetes Care Devices Market size is USD 127.93 million from 2023 to 2033.
Philippines Diabetes Care Devices Market Segment is covered By Monitoring Devices, By Management Devices.
The Asia-Pacific is anticipated to have the highest Market share in the Philippines Diabetes Care Devices Market.
The key players in the Market include Companies Covered Abbott, Becton and Dickenson, Dexcom, Eli Lilly, Insulet, Lifescan, Medtronic, Novo Nordisk, Roche, Sanofi, Tandem.
Diabetes care devices are used to measure blood sugar levels, which are a result of insulin synthesis in the body.
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