Oman Insulin Drugs And Delivery Devices Market Size
| Study Period | 2017 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Market Size (2024) | USD 71 Million |
| Market Size (2028) | USD 88 Million |
| CAGR (2024 - 2028) | 4.25 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Oman Insulin Drugs And Delivery Devices Market Analysis
The Oman Insulin Drugs and Delivery Devices Market size is estimated at USD 71 million in 2023, and is expected to reach USD 88 million by 2028, growing at a CAGR of 4.25% during the forecast period (2023-2028).
Diabetes mellitus had a considerable impact on COVID-19-affected people and society due to the high costs associated with its care, and the complications that arose from it. Diabetes mellitus imposed a greater risk of extended hospital stay and death. In addition to the direct effects on health, the absence of regular care due to the closure of outpatient clinics and social isolation with changes in diet, physical activity, and personal care favored the deterioration of disease control and hampered the detection of complications. As a result, there was an urgent need to provide an enhanced understanding of self-management, follow-up care, telemedicine, and glycemic management.
There are two main types of diabetes, type 1, and type 2. Type 1 diabetes is an autoimmune disease, in which the body cannot make insulin properly, and is more commonly diagnosed in young people. In type 2 diabetes, the body becomes resistant to the effects of insulin. Diabetes treatment aims to maintain healthy blood glucose levels to prevent both short and long-term complications, such as cardiovascular disease, kidney disease, blindness, and lower limb amputation. For a patient with type 1 diabetes, insulin therapy is important for replacing the insulin that the body doesn't produce. People with type 2 diabetes need insulin therapy if other treatments such as diabetes medications and other lifestyle changes are not able to keep blood glucose levels within the desired range.
According to the Oman Diabetes Association, diabetes imposes a challenge for low-income and social security patients. Thus, an initiative has been designed to reduce the burden on these targeted groups, consequently promoting sugar control. Oman under the ODA initiative is trying to aware diabetes patients about the usage of diabetes devices. The Ministry of Health, Oman is strategically planning to contain the growing burden of diabetes and invest in all means to control it, stating “Our work needs to ensure equitable and affordable access to treatment, and we must advocate for investments in diabetes education and prevention programs”.
Therefore, owing to the factors above the studied market is anticipated to grow over the analysis period.
Oman Insulin Drugs And Delivery Devices Market Trends
Rising diabetes prevalence in Oman is driving the market in forecast years
In Oman, Diabetes Population is expected to increase with a CAGR greater than 6.4% over the forecast period.
According to Mordor Intelligence, the diabetic population in Oman increased to 0.57 million in the current year and it is expected to reach 0.84 million during the forecast period. Although the current numbers show that the existence of diabetes is comparatively lesser in Oman, the growth rate of the diabetic population is projected to be higher in the country. Moreover, the number of new cases among children is about 60 cases annually. According to local studies and reports on good diabetes control, the rate in adult patients ranges from 32-35%, whereas reaches 10-12% among children and adolescents.
According to IDF's latest estimates, 73 million adults (20-79) are living with diabetes in the IDF MENA Region. This figure is estimated to increase to 95 million by 2030. 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.
Pharmacologic therapy such as oral medicines and insulin, as well as non-pharmacologic therapies such as lifestyle changes, are modern approaches for diabetes management. Over the years, several technological innovations have been developed that have led to the creation of new types of devices that are more accurate and patient-compliant compared to traditional ones. Such advantages will facilitate the adoption of these products in the market.
The Insulin Pens Segment held the Highest market share in the Oman Insulin Drugs and Delivery Devices Market in the current year
The Insulin Pens Segment held the highest market share in the Oman Insulin Drugs and Delivery Devices Market in the current year and is expected to grow at a CAGR of 2.08% over the forecast period.
Insulin has been widely used in the treatment of diabetes. People with Type 1 diabetes need insulin therapy, and the treatment focuses on managing blood sugar levels with insulin, diet, and lifestyle to prevent complications. Insulin pens are small and portable devices and have the medicine preloaded into the delivery mechanism. Insulin Pens are the most widely used devices for the administration of insulin among diabetic patients. The ease of use and accuracy in administration make insulin pen usage high among insulin users.
The pens are usually color-coded which makes it easier to know which type and amount of insulin will be received from them. A disposable insulin pen is a prefilled pen and must be thrown away after a single use whereas reusable pens permit the insertion of a cartridge allowing repeated usage. The needles on a reusable pen should be replaced periodically. The needles are easy to use and can be disposed of by twisting or snapping after use. The insulin disposable pens are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. Some pens are smart insulin pens that easily connect to an app on the phone to monitor blood sugar levels and remind when to take the next insulin dose.
In Oman, the social level plays an important role in patients’ access to health care as the number of healthcare centers, hospitals, and pharmacies is very low in rural areas compared to big cities and urban areas. The financial level is a major determinant of people’s access to health care as the salaries of most of the employees in Oman are not enough to afford their monthly diabetes supplies. For students and school children with type 1 diabetes, the National Health Insurance System covers insulin, and the student pays nothing for NPH, mixed and short-acting insulins, and only 60% of the price of other types of insulin which are usually not available in the pharmacies of the National Health Insurance System.
However, the government is working in the direction of improving the access of patients through various initiatives. Such factors are likely to boost the market prospects in the years to come.
Oman Insulin Drugs And Delivery Devices Industry Overview
The Oman Insulin Drugs and Delivery Devices Market is consolidated, with few significant and generic players. The major players are working on innovations in insulin drugs and devices which is evident from the companies spending on research and developments to strengthen their market presence.
Oman Insulin Drugs And Delivery Devices Market Leaders
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Novo Nordisk
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Julphar
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Novartis
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Becton and Dickinson
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Terumo
*Disclaimer: Major Players sorted in no particular order
Oman Insulin Drugs And Delivery Devices Market News
- July 2023: Khazaen Economic City entered the pharmaceutical sector, to produce insulin 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 Insulin Drugs And Delivery 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 Drug
5.1.1 Basal or Long-acting Insulins
5.1.1.1 Lantus (Insulin Glargine)
5.1.1.2 Levemir (Insulin Detemir)
5.1.1.3 Toujeo (Insulin Glargine)
5.1.1.4 Tresiba (Insulin Degludec)
5.1.1.5 Basaglar (Insulin Glargine)
5.1.2 Bolus or Fast-acting Insulins
5.1.2.1 NovoRapid/Novolog (Insulin aspart)
5.1.2.2 Humalog (Insulin lispro)
5.1.2.3 Apidra (Insulin glulisine)
5.1.2.4 FIASP (Insulin aspart)
5.1.2.5 Admelog (Insulin lispro Sanofi)
5.1.3 Traditional Human Insulins
5.1.3.1 Novolin/Mixtard/Actrapid/Insulatard
5.1.3.2 Humulin
5.1.3.3 Insuman
5.1.4 Combination Insulins
5.1.4.1 NovoMix (Biphasic Insulin aspart)
5.1.4.2 Ryzodeg (Insulin degludec and Insulin aspart)
5.1.4.3 Xultophy (Insulin degludec and Liraglutide)
5.1.4.4 Soliqua/Suliqua (Insulin glargine and Lixisenatide)
5.1.5 Biosimilar Insulins
5.1.5.1 Insulin Glargine Biosimilars
5.1.5.2 Human Insulin Biosimilars
5.2 Device
5.2.1 Insulin Pumps
5.2.1.1 Insulin Pump Devices
5.2.1.2 Insulin Pump Reservoirs
5.2.1.3 Insulin Infusion sets
5.2.2 Insulin Pens
5.2.2.1 Cartridges in reusable pens
5.2.2.2 Disposable insulin pens
5.2.3 Insulin Syringes
5.2.4 Insulin 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 Novo Nordisk
7.1.2 Sanofi
7.1.3 Eli Lilly
7.1.4 Gan & Lee
7.1.5 Biocon
7.1.6 Julphar
7.1.7 Medtronic
7.1.8 Ypsomed
7.1.9 Becton Dickinson
7.1.10 Terumo
7.1.11 Pfizer
7.1.12 Novartis
- *List Not Exhaustive
7.2 COMPANY SHARE ANALYSIS
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Oman Insulin Drugs And Delivery Devices Industry Segmentation
There are different ways to inject insulin into a patient’s body using syringes, pens, pumps, and jet injectors giving them various options for insulin delivery. The Oman Insulin Drugs and Delivery Devices Market is segmented into Drugs (Basal or Long-acting Insulins, Bolus or Fast-acting Insulins, Traditional Human Insulins, Combination Insulins, and Biosimilar Insulins) and Devices (Insulin Pens, Insulin Pumps, Insulin Syringes, and Jet Injectors). The report offers the value (in USD) and volume for insulin drugs and devices (in units) for the above segments.
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Oman Insulin Drugs And Delivery Devices Market Research Faqs
How big is the Oman Insulin Drugs And Delivery Devices Market?
The Oman Insulin Drugs And Delivery Devices Market size is expected to reach USD 71 million in 2024 and grow at a CAGR of 4.25% to reach USD 88 million by 2028.
What is the current Oman Insulin Drugs And Delivery Devices Market size?
In 2024, the Oman Insulin Drugs And Delivery Devices Market size is expected to reach USD 71 million.
Who are the key players in Oman Insulin Drugs And Delivery Devices Market?
Novo Nordisk, Julphar, Novartis, Becton and Dickinson and Terumo are the major companies operating in the Oman Insulin Drugs And Delivery Devices Market.
What years does this Oman Insulin Drugs And Delivery Devices Market cover, and what was the market size in 2023?
In 2023, the Oman Insulin Drugs And Delivery Devices Market size was estimated at USD 67.98 million. The report covers the Oman Insulin Drugs And Delivery Devices Market historical market size for years: 2017, 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Oman Insulin Drugs And Delivery Devices Market size for years: 2024, 2025, 2026, 2027 and 2028.
Oman Insulin Drugs And Delivery Devices Industry Report
Statistics for the 2024 Oman Insulin Drugs And Delivery Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Oman Insulin Drugs And Delivery Devices analysis includes a market forecast outlook for 2024 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
