Saudi Arabia Diabetes Care Devices Market – Opportunities & Forecast, 2020-2027

 

The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including product type and end-user.

Saudi Arabia Diabetes Care Devices Market drivers:

The significant factors contributing to the growth of Saudi Arabia diabetes care devices market include the rising awareness regarding diabetes treatment and management, along with the growing government emphasis on enhancing the healthcare sector. As per the IDF, 463 million people have diabetes globally, out of which 55 million people in the MEAN region have diabetes. This number is predicted to grow and reach 108 million by 2045. The total number of diabetes cases in adults amounted to 4,275,200, while the prevalence of diabetes in adults accounted for 18.3%. Apart from the genetic basis of diabetes, the changing lifestyle owing to the increasing disposable income and urbanization is further fuelling the growth of the market during the forecast period. There has been a drop-in activity and unhealthy dietary habits, which have led to an upsurge in the number of lifestyle diseases. According to health professionals and researchers, diabetes is one of the greatest epidemics in human history.

Rapid technological advancements in diabetes devices, coupled with the growing consumption of junk food, are some other factors bolstering the growth of the Saudi Arabia diabetes care devices market. Additionally, the rising requirement for faster and safer diagnosis and treatment of diabetes is further supporting the market growth. Furthermore, the availability of reimbursement policies and insurance is opening new doors for market growth. On the other edge of the spectrum, the adverse effect regarding some of the diabetes care devices will hamper the market growth.

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Saudi Arabia Diabetes Care Devices Market Segmentation:

According to the report published by GMI Research, titled “Saudi Arabia Diabetes Care Devices Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:

By Product Type:

·         Blood Glucose Monitoring Device

·         Insulin Delivery Device

By End-User:

·         Hospitals

·         Homecare Setting

·         Others

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