GCC And UAE Diabetes Devices Market Size, Share & Trends Analysis Report By Services (Devices And Wearables, Diabetes Prevention, Diabetes Researches), By Distribution Channel, By End-use, By Region, And Segment Forecasts, 2023 - 2030

GCC And UAE Diabetes Devices Market Size, Share & Trends Analysis Report By Services (Devices And Wearables, Diabetes Prevention, Diabetes Researches), By Distribution Channel, By End-use, By Region, And Segment Forecasts, 2023 - 2030

GCC And UAE Diabetes Devices Market Growth & Trends

The GCC and UAE diabetes devices market size is anticipated to reach USD 4.72 billion by 2030 and is set to grow at 7.1% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. Factors such as the increasing prevalence of diabetes, rapid technological advancements, and increasing awareness related to diabetes preventive care are all augmenting the market growth during the forecast period. For instance, in December 2021, Sanofi signed a contract with the Dasman Diabetes Institute and Research Center (DDI), a research institute & diabetes treatment center in Kuwait, to enhance diabetes control and prevention in the country.

Diabetes is a rapidly growing disease. Some of the highest diabetes prevalence rates in the world are found in the countries of the Gulf Cooperation Council. The increase in unhealthy living continues to lead to a more unhealthy population in the region. According to International Diabetes Federation, in 2021, there were about 0.8 million patients suffering from diabetes in Kuwait, and this number is expected to increase to 1.0 million by 2045.

Over the past few decades, diabetes-related research activity has been observed to be low in this region. However, an increase in research funding and collaborations between local & international researchers and institutes are expected to boost segment growth. For instance, in January 2022, the Saudi Health Council signed a memorandum of understanding with Sanofi, a French healthcare corporation, to collaborate on diabetes research and development.

The key market players are implementing a variety of strategies, including mergers and acquisitions, partnerships, collaborations, and expansions. For instance, in August 2022, Abbott partnered with WW International, Inc. (WeightWatchers). Through this partnership, both companies will combine the weight management program of WeightWatchers for people with diabetes with Abbott's line of FreeStyle Libre products to produce a seamless mobile experience. It will offer knowledge & insights on how to improve their diet, lower the blood sugar levels of patients, and ultimately, help consumers take back control of their health.

GCC And UAE Diabetes Devices Market Report Highlights

• Based on services, the pharma, drugs & supplies segment accounted for the largest market share in 2022, owing to the growing demand for efficient medication therapies for diabetes treatment
• Based on distribution channel, the hospital pharmacies segment dominated the market in 2022 and is expected to continue dominating over the forecast period
• The online pharmacies segment is expected to grow at the fastest rate over the forecast period owing to the increasing patient awareness about online pharmacies
• Based on end-use, the hospital segment held the largest market share in 2022, owing to the adoption of advanced diabetes devices by hospitals