Market Trends of Russia Self-monitoring Blood Glucose Devices Industry
Rising diabetes prevalence
In Russia, the diabetes population is expected to increase by 6.4% over the forecast period.
According to the Diabetes UK 2022 estimates, Russia may be placed the third number in the register of countries with the highest number of diabetics in the world, with an estimated 9,613 thousand cases. The Russian Government instructed the Cabinet to launch a large-scale program to combat diabetes in 2023 by the Council for Strategic Development and National Projects.
In 2022, the Federal Project Combating diabetes mellitus 2023–2030 was developed and submitted for approval to the Government of Russia, which is expected to significantly improve the practice of working with patients with diabetes mellitus, ensuring maximum access to medical care, including in updated and technologically re-equipped regional endocrinology centers, Diabetic Foot rooms, diagnostic laboratories, new forms of communication with patients, including the use of personal physician assistants.
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. Technological development is gaining momentum in the glucose monitoring market. Over the years, several technological innovations have been developed that have led to the creation of new types of devices that are much less cumbersome and more comfortable for patients compared to traditional ones. Such advantages have helped the rise in the adoption of these products in the market.
The Glucometer Devices Segment is expected to register the highest CAGR over the forecast period
The glucometers segment is expected to register for the highest CAGR of about 6.25% in the market over the forecast period owing to the increasing adoption of glucometers in home care settings, growing preference for home-based self-monitoring, and recent product launches of advanced glucometers.
Glucose monitoring gives people living with diabetes a more complete picture of their blood sugar levels, which can influence short- and long-term treatment decisions and improve health outcomes. It allows them and their healthcare providers to assess the glycemic status and adverse effects and to determine the effectiveness of glucose-lowering therapies. Glucose monitoring improves blood sugar management and quality of life for people living with diabetes, resulting in physical, social, emotional, and functional benefits. Self-monitoring of blood glucose is a way for people living with diabetes to measure and assess their glucose levels. It uses a drop of blood from a finger prick to get blood glucose readings using a blood glucose meter or glucometer.
According to the Federal Law of the President of the Russian Federation dated December 5, 2022, on the federal budget for 2023 and for the planning period of 2024 and 2025 approved the financing of activities in a separate line within the framework of the federal project Combating diabetes mellitus for 2023–2025. Diabetes is a costly chronic illness that needs control of blood sugar levels using medical devices. The Government of Russia is strategically planning to contain the growing burden of diabetes and invest to control it. Thus, with the rising prevalence, the market for self-monitoring blood glucose devices is expected to grow in Russia over the forecast period.
