Oman Diabetes Care Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 65.77 Million |
| Market Size (2029) | USD 75.02 Million |
| CAGR (2024 - 2029) | 2.77 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oman Diabetes Care Devices Market Analysis
The Oman Diabetes Care Devices Market size is estimated at USD 65.77 million in 2024, and is expected to reach USD 75.02 million by 2029, growing at a CAGR of 2.77% during the forecast period (2024-2029).
The COVID-19 pandemic positively impacted the Diabetes Care Devices market growth in Oman. Patients with diabetes infected with SARS-CoV-2 experience additional stress and increased secretion of hyperglycemic hormones, which results in elevated blood glucose, abnormal glucose variability, and diabetic complications. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19, including an increased risk of severe illness or death. To avoid complications, a patient's blood glucose level should be maintained at a normal level. The manufacturers of diabetes devices have taken care during COVID-19 to deliver devices to diabetes patients with the help of local governments. The pandemic has increased remote care from patients and providers and removed many long-standing regulatory barriers.
Although the current numbers show that diabetes is comparatively lesser in Oman, the growth rate of the diabetic population is projected to be higher in the country. According to Mordor Intelligence, the diabetic population in Oman increased to 0.57 million in 2021 and is expected to reach 0.84 million by 2027. 73 million adults (20-79) will live with diabetes in the IDF MENA Region 2021. This figure is estimated to increase to 95 million by 2030. Diabetes is associated with many health complications. Patients with diabetes require many daily corrections to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels. Diabetes poses an emerging healthcare burden across the country and is one of the leading causes of premature death, morbidity, and loss of economic growth.
Oman Ministry of Health recently participated in the virtual launch of the WHO Global Diabetes Compact, organized jointly by the World Health Organization and the government of Canada, aimed at raising awareness level about diabetes as a global disease, in addition to expanding prevention and treatment as part of primary health care and universal health coverage.
Owing to the above factors, the studied market is anticipated to grow over the analysis period.
Oman Diabetes Care Devices Market Trends
Continuous glucose monitoring segment is expected to witness highest growth rate over the forecast period
The continuous Glucose Monitoring Segment is expected to witness a CAGR of 9.6% over the forecast period.
A CGM is used by inserting a small sensor into the abdomen or arm with a tiny plastic tube known as a cannula penetrating the top layer of skin. An adhesive patch holds the sensor in place, allowing it to take glucose readings in interstitial fluid throughout the day and night. Generally, the sensors must be replaced every 7 to 14 days. A small, reusable transmitter connected to the sensor allows the system to send real-time readings wirelessly to a monitor device that displays blood glucose data. Some systems have a dedicated monitor, and some display the information via a smartphone app.
Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated to the transmitter. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period.
The frequency of monitoring glucose levels depends on the type of diabetes, which varies from patient to patient. Type-1 diabetic patients must check their blood glucose levels regularly, monitor their blood glucose levels, and adjust the insulin dosing accordingly. The current CGM devices show a detailed representation of blood glucose patterns and tendencies compared to a routine check of glucose levels at set intervals. Furthermore, the current continuous glucose monitoring devices can either retrospectively display the trends in blood glucose levels by downloading the data or give a real-time picture of glucose levels through receiver displays.
According to the Oman Diabetes Association, diabetes is a costly chronic illness that needs control of blood sugar levels using medical devices. It imposes a challenge for low-income and social security patients. Thus, an initiative is designed to reduce the burden on these targeted groups, consequently promoting sugar control. Under the ODA initiative, Oman is trying to inform diabetes patients about using blood glucose devices. Moreover, the number of new cases among children is about 60 annually. According to local studies and reports on good diabetes control, the rate in adult patients ranges from 32-35%, whereas it reaches 10-12% among children and adolescents. The Government is working on increasing awareness of diabetes and access to sugar monitors to improve good diabetes control for children.
The studied market is anticipated to grow over the analysis period due to the above factors.
Insulin cartridges in reusable pens hold the highest share in the management devices segment in the current year
Insulin cartridges in reusable pens hold the highest share of about 61.1% in the management devices segment in the current year.
Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices include all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturers produce reusable insulin pens compatible with various manufacturers' cartridges. These insulin cartridges are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on the go. Open cartridges do not need to be refrigerated, making storage easy for consumers. Thus, cartridges are the most cost-effective insulin use, as reusable pens are a one-time investment, unlike disposable pens.
The WHO Global Diabetes Compact focuses on reducing obesity and emphasizes improving access to affordable health services and medicines for early diagnosis and treatment of diabetes. The Ministry of Health, Oman, is strategically planning to contain the growing burden of diabetes and invest in all means to control it. They stated, 'Our work needs to ensure equitable and affordable access to treatment, and it is essential that we advocate for investments in diabetes education and prevention programs.' Risk factors such as insufficient physical activity and the consumption of unhealthy diets are contributing to the development and progression of the disease. The Health Minister of Oman, in 2021, stated that 15% of the population in Oman was known to include diabetes, and more than 6500 cases of diabetes are diagnosed yearly in the country's primary healthcare facilities. In addition, 35% of the population is overweight, and 30% are reported to be obese.
Technological development is gaining momentum in the insulin devices market. Over the years, several technological innovations developed that created new devices that are much less cumbersome and more comfortable for patients than traditional ones. Such advantages helped the rise in the adoption of these products in the market.
Oman Diabetes Care Devices Industry Overview
The Oman Diabetes Care Devices Market is semi-consolidated, with few significant and generic players. Manufacturers drove constant innovations to compete in the market. The major players, such as Abbott and Medtronic, underwent many mergers, acquisitions, and partnerships to establish market dominance while also adhering to organic growth strategies, which is evident from the R&D spending of these companies.
Oman Diabetes Care Devices Market Leaders
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Abbott Diabetes Care
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Novo Nordisk A/S
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Medtronic PLC
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Eli Lilly and Company
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Roche Diabetes Care
*Disclaimer: Major Players sorted in no particular order
Oman Diabetes Care Devices Market News
- July 2023: Khazaen Economic City entered the pharmaceutical sector, to produce in cooperation with a foreign partner in Oman to localize this expertise and technology.
- May 2023: Medtronic plc announced it has entered into a set of definitive agreements to acquire EOFlow Co. Ltd., manufacturer of the EOPatch device - a tubeless, wearable, and fully disposable insulin delivery device. The addition of EOFlow, together with Medtronic's Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM), is expected to expand the company's ability to address the needs of more individuals with diabetes.
Oman Diabetes Care Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Monitoring Devices
5.1.1 Self-monitoring Blood Glucose Devices
5.1.1.1 Glucometer Devices
5.1.1.2 Blood Glucose Test Strips
5.1.1.3 Lancets
5.1.2 Continuous Glucose Monitoring
5.1.2.1 Sensors
5.1.2.2 Durables
5.2 Management Devices
5.2.1 Insulin Pump
5.2.1.1 Insulin Pump Device
5.2.1.2 Insulin Pump Reservoir
5.2.1.3 Infusion Set
5.2.2 Insulin Syringes
5.2.3 Cartridges in Reusable pens
5.2.4 Insulin Disposable Pens
5.2.5 Jet Injectors
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott Diabetes Care
7.1.2 Roche Diabetes Care
7.1.3 Lifescan
7.1.4 Medtronic PLC
7.1.5 Arkray Inc.
7.1.6 Ascensia Diabetes Care
7.1.7 Novo Nordisk A/S
7.1.8 Eli Lilly
7.1.9 Insulet Corporation
7.1.10 Sanofi
7.1.11 Ypsomed
7.1.12 Dexcom Inc.
7.1.13 Rossmax International Ltd
- *List Not Exhaustive
7.2 Company Share Analysis
7.2.1 Self-monitoring Blood Glucose Devices
7.2.1.1 Abbott Diabetes Care
7.2.1.2 LifeScan
7.2.1.3 Other Self-monitoring Blood Glucose Devices
7.2.2 Continuous Glucose Monitoring Devices
7.2.2.1 Abbott Diabetes Care
7.2.2.2 Medtronic PLC
7.2.2.3 Other Continuous Glucose Monitoring Devices
7.2.3 Insulin Devices
7.2.3.1 Insulet Corporation
7.2.3.2 Novo Nordisk A/S
7.2.3.3 Other Insulin Devices
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oman Diabetes Care Devices Industry Segmentation
Diabetes care devices are the hardware, equipment, and software used by diabetes patients to regulate blood glucose levels, prevent diabetes complications, lessen the burden of diabetes, and enhance the quality of life. The Oman Diabetes Care Devices Market is segmented into monitoring devices (self-monitoring blood glucose devices (glucometer devices, blood glucose test strips, and lancets), continuous glucose monitoring devices (sensors and durables)), management devices (insulin pumps (insulin pump devices, insulin pump reservoirs, and infusion set), insulin syringes, cartridges in reusable pens, disposable pens, and jet injectors). The report offers the value (USD) and volume (units) for the above segments.
| Monitoring Devices | |||||
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| Management Devices | |||||
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| Insulin Syringes | |||||
| Cartridges in Reusable pens | |||||
| Insulin Disposable Pens | |||||
| Jet Injectors |
Oman Diabetes Care Devices Market Research FAQs
How big is the Oman Diabetes Care Devices Market?
The Oman Diabetes Care Devices Market size is expected to reach USD 65.77 million in 2024 and grow at a CAGR of 2.77% to reach USD 75.02 million by 2029.
What is the current Oman Diabetes Care Devices Market size?
In 2024, the Oman Diabetes Care Devices Market size is expected to reach USD 65.77 million.
Who are the key players in Oman Diabetes Care Devices Market?
Abbott Diabetes Care, Novo Nordisk A/S, Medtronic PLC, Eli Lilly and Company and Roche Diabetes Care are the major companies operating in the Oman Diabetes Care Devices Market.
What years does this Oman Diabetes Care Devices Market cover, and what was the market size in 2023?
In 2023, the Oman Diabetes Care Devices Market size was estimated at USD 63.95 million. The report covers the Oman Diabetes Care Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oman Diabetes Care Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Oman Diabetes Care Devices Industry Report
Statistics for the 2024 Oman Diabetes Care Devices market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Oman Diabetes Care Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Oman Diabetes Care Devices Market Report Snapshots
