MIDDLE EAST AND AFRICA CONTINUOUS GLUCOSE MONITORING MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

MIDDLE EAST AND AFRICA CONTINUOUS GLUCOSE MONITORING MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Middle East and African Continuous Glucose Monitoring Market are expected to register a CAGR of more than 13% during the forecast period of 2022-2027. The market is estimated to reach a value of more than USD 310 million by 2027.

The COVID-19 pandemic positively impacted the Continuous glucose monitoring system market growth in the Middle East and African region. 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. To avoid aggravation, a patient's blood glucose monitoring should be considered during the COVID-19 patient's hospitalization which has underlined the importance of continuous glucose monitoring devices. Pandemic emergency has created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers. Thus, the COVID-19 outbreak increased the continuous glucose monitoring device market's growth.

73 million adults (20-79) are living with diabetes in the IDF MENA Region in 2021. This figure is estimated to increase to 95 million by 2030. 48 million adults in the IDF MENA Region are living with Impaired Glucose Tolerance, which places them at increased risk of developing type 2 diabetes. Diabetes is responsible for 796,000 deaths in the IDF MENA Region in 2021. USD 33 billion was spent on healthcare for people with diabetes in 2021.

The Middle East and African region had witnessed an alarming increase in the prevalence of diabetes, in recent years, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day 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 region The Type 1 diabetes population completely depends on insulin therapy. Therefore, they constantly need to monitor their blood glucose levels. Some Type 2 diabetes patients also depend on insulin therapy and 90% of the diabetic population is type 2, most of them use Continuous glucose monitoring devices to monitor their insulin levels.

Owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

Key Market TrendsSensors Hold Highest Market Share in 2021

Sensors hold the highest market share of more than 68% as of 2021. CGM sensors have proven to be effective for patients with frequent hypoglycemic events.

The COVID-19 pandemic emphasizes the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from a viral illness. Published randomized controlled trials (RCTs) have shown mitigating hypoglycemic episodes and reducing glycemic variability through CGM sensors. Diabetes mellitus has been of wide concern with its high global prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments.

Governments in the ME have identified the threat of diabetes and started to respond with various policies, initiatives, and programs. Six out of 15 countries in this region still do not have a national operational action policy for diabetes. Many countries still do not have a national strategy to reduce overweight, obesity, and physical inactivity, which are important risk factors for diabetes. Most counties have fully implemented national diabetes treatment guidelines. However, constant measures are being taken to minimize diabetic complications therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the Middle East and African region.

Saudi Arabia is Expected to Dominate the Middle East and Africa Continuous Glucose Monitoring Market

In 2021, Saudi Arabia held the largest share in the continuous glucose monitoring market in the Middle East and African region. Saudi Arabia is expected to register a CAGR of over 13% between 2022 and 2027. Due to the adaptability of new technology and the high prevalence of diabetes population, Saudi Arabia dominates the market, among other countries.

More than one in ten people in Saudi Arabia are now living with diabetes and the prevalence of the disease will almost double by 2045, according to the report by the International Diabetes Federation (IDF). The IDF report mentioned that 4.27 million people in Saudi Arabia – which has a population of about 34.8 million have diabetes, while a further 1.86 million people have the disease but are yet to be diagnosed. This figure will increase to 5.6 million by 2030 and further to 7.5 million by 2045.

It is imperative that the CGM devices be used alongside insulin pumps. As the trends show a higher number of diabetic patients using insulin pumps for diabetes management, it can be predicted that the number of units of CGM devices sold will also follow. Type-1 patients require continuous monitoring for keeping a close watch on their glucose levels which is likely to generate demand in the coming years.

Saudi Government, in July 2022, announced that Saudi Arabia has seen growing demand for quality healthcare services spurred by changes including an increasing and aging population, and a growing prevalence of lifestyle diseases such as diabetes and obesity. The government and private sector are both involved to work on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.

Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the Middle East and Africa Region.

Competitive Landscape

The Middle East and African continuous glucose monitoring market is consolidated, with few major manufacturers present in the market. The CGM devices market is dominated by a few major players, like Dexcom, Medtronics, Abbott, and Senseonics. A significant share of the market is held by CGM manufacturers that are concurrent with strategy-based M&A operations, and they are always entering new markets to generate new revenue streams and boost the existing ones.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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