Market Trends of MEA Insulin Pens Industry
Increasing diabetes prevalence
The diabetes population in the Middle East and African region is expected to rise by more than 3.5% over the forecast period.
The Middle East and African region has witnessed an alarming increase in the prevalence of diabetes in recent years. The rate of newly diagnosed Type-1 and Type-2 diabetes cases is seen to increase, mainly due to obesity, an unhealthy diet, and physical inactivity. According to IDF 2021 reports, 73 million adults are living with diabetes in the IDF MENA Region. This figure is estimated to increase to 95 million by 2030. 48 million adults in the IDF MENA Region live with impaired glucose tolerance, which places them at increased risk of developing type 2 diabetes. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetes products.
Governments in the Middle East have identified the threat of diabetes and started to respond with various policies, initiatives, and programs. Six out of 15 countries in this region still do not have a national operational action policy for diabetes. Many countries still do not have a national strategy to reduce overweight, obesity, and physical inactivity, which are important risk factors for diabetes. Most counties have fully implemented national diabetes treatment guidelines. However, constant measures are being taken to minimize diabetic complications; therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the Middle East and African region.
Saudi Arabia holds the highest market share in the Middle East and Africa Insulin Pens Market in the current year
Saudi Arabia held the largest share in the insulin pen market in the Middle East and African region in the current year and is expected to register a CAGR of over 1.8% over the forecast period.
More than one in ten people in Saudi Arabia is living with diabetes, and the prevalence of the disease will almost double by 2045, according to the IDF 2021 report. The IDF report mentioned that 4.27 million people in Saudi Arabia, which has a population of about 34.8 million, have diabetes, while a further 1.86 million have the disease but are yet to be diagnosed. The rise in the number of people with diabetes is driven by a complex interplay of socio-economic, demographic, environmental, and genetic factors. Key contributors include urbanization, an aging population, decreasing levels of physical activity, and increased levels of overweight and obesity.
In July 2022, the Saudi Government announced that Saudi Arabia saw growing demand for quality healthcare services spurred by changes, including an increasing and aging population and a growing prevalence of lifestyle diseases such as diabetes and obesity. The government and private sector are both involved in working on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.
Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the Middle East and Africa region.
