Market Size of Oman Diabetes Care Devices Industry
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 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 Size Summary
The Oman Diabetes Care Devices Market is poised for growth, driven by an increasing diabetic population and the rising prevalence of diabetes-related complications. The market is experiencing a positive impact from the COVID-19 pandemic, which has highlighted the importance of maintaining normal blood glucose levels to avoid severe health outcomes. This has led to a surge in demand for diabetes care devices, with manufacturers collaborating with local governments to ensure the availability of these essential tools. The market is characterized by technological advancements, particularly in continuous glucose monitoring (CGM) devices, which offer real-time glucose level tracking and are expected to see significant growth. The government's initiatives, such as participation in the WHO Global Diabetes Compact, aim to raise awareness and improve access to diabetes care, further supporting market expansion.
The market landscape is semi-consolidated, with key players like Abbott, Medtronic, and Novo Nordisk driving innovation through mergers, acquisitions, and strategic partnerships. The insulin management segment, particularly insulin cartridges in reusable pens, holds a significant share due to their cost-effectiveness and consumer-friendly design. The Omani government's focus on reducing obesity and improving access to affordable healthcare services aligns with global health initiatives, aiming to control the diabetes burden. As the market evolves, technological developments continue to enhance the comfort and convenience of diabetes care devices, fostering greater adoption among patients. The ongoing efforts to localize pharmaceutical expertise and technology in Oman, as seen with Khazaen Economic City's entry into the sector, further underscore the market's growth potential.
Oman Diabetes Care Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Monitoring Devices
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2.1.1 Self-monitoring Blood Glucose Devices
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2.1.1.1 Glucometer Devices
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2.1.1.2 Blood Glucose Test Strips
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2.1.1.3 Lancets
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2.1.2 Continuous Glucose Monitoring
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2.1.2.1 Sensors
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2.1.2.2 Durables
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2.2 Management Devices
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2.2.1 Insulin Pump
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2.2.1.1 Insulin Pump Device
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2.2.1.2 Insulin Pump Reservoir
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2.2.1.3 Infusion Set
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2.2.2 Insulin Syringes
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2.2.3 Cartridges in Reusable pens
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2.2.4 Insulin Disposable Pens
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2.2.5 Jet Injectors
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Oman Diabetes Care Devices Market Size 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.