OMAN DIABETES CARE DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

OMAN DIABETES CARE DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Oman Diabetes Care Devices Market is expected to grow at a CAGR of more than 3% during the forecast period (2022-2027). The market is estimated to reach a value of more than USD 71 million by 2027.

The COVID-19 pandemic positively impacted the Diabetes Care Devices market growth in Oman. 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. To avoid complications, a patient's blood glucose level should be maintained at a normal level. The manufacturers of diabetes devices have taken care during COVID-19 to deliver devices to diabetes patients with the help of local governments. Pandemic emergency has created a rise in remote care from both patients and providers and removed many long-standing regulatory barriers.

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. According to Mordor Intelligence, the diabetic population in Oman increased to 0.57 million in 2021 and it is expected to reach 0.84 million by 2027. 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. 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 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.

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

Key Market TrendsContinuous Glucose Monitoring Segment is Expected to Witness Highest Growth Rate Over the Forecast Period

Continuous Glucose Monitoring Segment recorded more than USD 3 million in revenue in 2021, which is expected to further increase with a CAGR of more than 10% during the forecast period.

Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Glucose oxidase converts glucose to hydrogen peroxidase, which reacts with the platinum inside the sensor, producing an electrical signal to be communicated to the transmitter. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period.

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. The frequency of monitoring glucose levels depends on the type of diabetes, which varies from patient to patient. Type-1 diabetic patients need to check their blood glucose levels at regular intervals, monitor their blood glucose levels, and adjust the insulin dosing accordingly. The current CGM devices show a detailed representation of blood glucose patterns and tendencies compared to a routine check of glucose levels at set intervals. Furthermore, the current continuous glucose monitoring devices can either retrospectively display the trends in the levels of blood glucose by downloading the data or give a real-time picture of glucose levels through receiver displays.

The use of CGM by Type-1 diabetic patients is very less, as compared to Type-2 diabetic patients. But the expenditure incurred by Type-1 diabetic patients on these devices is nearly double that of Type-2 diabetics. The newest CGM models, the Abbott Freestyle Libre and the Dexcom G6 overcame many technical barriers.

According to Oman Diabetes Association, diabetes is a costly chronic illness that needs control of blood sugar levels using medical devices. This 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 blood glucose devices. 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. The Government is working on increasing awareness of diabetes, in addition, to access to sugar monitors to improve good diabetes control for children.

Insulin cartridges in reusable pens Occupied the Highest Share in the Management Devices Segment in 2021

Insulin cartridges in reusable pens occupied the highest market share of about 71% in the management devices segment in 2021.

Insulin cartridges in reusable pens currently have the highest demand among all insulin delivery devices in the Omani market. Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices have all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturing companies have produced reusable insulin pens that are compatible with various insulin manufacturers' cartridges. These insulin cartridges are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on the go. Cartridges that are open do not need to be refrigerated, making storage very easy for consumers. Thus, cartridges are the most cost-effective way to use insulin, as reusable pens are a one-time investment, unlike disposable pens.

The WHO Global Diabetes Compact focuses on reducing obesity and emphasizes improving the access to affordable health services and medicines for early diagnosis, and treatment of diabetes. 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 it is essential that we advocate for investments in diabetes education and prevention programs”. Risk factors such as insufficient physical activity and the consumption of unhealthy diets are contributing to the development and progression of the disease. The Health Minister of Oman in 2021, stated that 15% of the population in Oman are known to have diabetes and more than (6500) cases of diabetes are diagnosed every year in the country’s primary healthcare facilities. In addition, 35% of the population are overweight and 30% are reported to be obese.

Technological development is gaining momentum in the insulin devices market. Over the years, in fact, 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 the traditional ones. Such advantages have helped the rise in the adoption of these products in the market.

Competitive Landscape

The diabetes devices market in Oman includes several established global players like Abbott, Medtronic, F. Hoffmann-La Roche AG, and Novo Nordisk. The CGM market in Oman comprises only a few players that occupy major shares.

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