MIDDLE EAST AND AFRICA INSULIN SYRINGE MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

MIDDLE EAST AND AFRICA INSULIN SYRINGE MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Middle East and African Insulin Syringe Market is expected to grow at a CAGR of more than 4% during the forecast period 2022-2027. The market is estimated to reach a value of more than USD 1 billion by 2027.

The COVID-19 pandemic positively impacted the Insulin Syringe 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. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19 including an increased risk of severe illness or death. Diabetes is associated with many health complications. To avoid complications, a patient's blood glucose level should be maintained at a normal level.

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. The manufacturers of Insulin Syringes have taken care during COVID-19 to deliver insulin delivery devices to diabetes patients with the help of local governments.

Diabetes poses an emerging healthcare burden across the region. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people.​ ​Furthermore, patients attempting to control their blood glucose levels tightly to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia.​ Achieving nominal results can be very difficult without multiple daily injections of insulin or insulin pump therapy.

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

Key Market TrendsRising diabetes prevalence

The diabetes population in the Middle East and African region is expected to rise by more than 3.5% during the forecast period.

The Middle East and African region had witnessed an alarming increase in the prevalence of diabetes, in recent years. The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of insulin.

According to IDF, 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.

In the Middle East and African region, in recent years, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. 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.

Iran is Expected to Dominate the Middle East and Africa Insulin Syringe Market

In 2021, Iran held the largest share in the Insulin Syringe market in the Middle East and African region. Iran is expected to register a CAGR of over 4% between 2022 and 2027.

Diabetes is a serious public health concern in Iran, the Middle East's second-largest country, due to its high prevalence rate, growing occurrence rate, and economic impact. It is estimated that by the year 2030, 9.2 million Iranian individuals will have diabetes. Diabetes-related mortality in Iran continues to rise; the age-standardized death rate from diabetes has risen throughout the years. Diabetes has significant economic consequences in the country. Diabetes, in addition to its high direct health-care costs, is a significant risk factor for other chronic illnesses such as cardiovascular disease.

Diabetes complications, for example, accounted for USD 412 (49%) of the USD 843 per capita cost of diabetes. Yazd, a world heritage city located in the center of Iran, has one of the highest recorded prevalences of DM in Iran. Other cities in Iran have varying levels of DM awareness. For example, in Kerman, a province south of Yazd, the prevalence of undiagnosed diabetes is only 2.7%, but it is 25% in northern Iran. Despite the widespread availability of drugs and insulin coverage in Iran, the estimated national control of hyperglycemia, hyperlipidemia, and hypertension (particularly among young men and women) remains inadequate.

However, the roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among people are some of the market opportunities for the players in the market.

Competitive Landscape

The Middle East and African Insulin Syringe Market has been driven by constant innovations by manufacturers to compete in the market. The major players, such as Becton Dickinson and Terumo, resort to inorganic market strategies, such as mergers and acquisitions, to establish market dominance, while also adhering to organic growth strategies, which is evident from the R&D spending of these companies.

Additional Benefits:

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

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