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The Philippines diabetes care devices market size is expected to grow at a CAGR of 7.6% during the forecast period of 2024-2032, driven by rising incidence of diabetes and awareness initiatives to detect the condition early and prevent complications associated with it.
In Philippines, diabetes is one of the leading causes of mortality with a prevalence rate of 6.3%, estimated to affect approximately 5.2 million people by 2030. It is estimated that 1 out of every 14 adults live with diabetes in the country. Obesity and increasing age are the primary risk factors for the disease. In the modern-day lifestyle, many people lead a hectic and sedentary lifestyle leading to a spike in diabetes incidence. In addition, rising indulgence in alcohol and other substances also results in high susceptibility of the condition.
Philippines diabetes care devices market growth is driven by increasing technical advancements to develop highly effective and convenient treatment alternatives for the patients. Rising collaborations and investments by the healthcare companies and government is another major aspect of the growing market size. The surge in government awareness programs to offer relevant information and diagnostic factors of the disease along with improvements in the healthcare infrastructure, is expected to impact the market positively.
New Product Launches to Aid the Market Growth
With the increasing prevalence of diabetes, there has been significant surge in approvals and new product launches, which are expected to provide a more flexible, wider opportunities and boost the Philippines diabetes care devices market share in coming years. In May 2023, Beta Bionics received the FDA approval for iLet ACE Pump and iLet Dosing Decision Software to treat type 1 diabetes in people aged 6 years or above. Used as a part of iLet Bionic Pancreas, the device deploys automated insulin dosing (AID) system, an algorithm to control the delivery of insulin in the body.
Increasing Adoption of Sensors to Offer Precise Dosage
Diabetes is a complex condition which affects everyone differently, hence, early detection and indication of glucose levels can help people make long-term adjustments to adapt to their condition better. The advent and convergence of latest technologies such as sensors are likely to enhance the Philippines diabetes care devices market value in the forecast period. In April 2023, Medtronic launched MiniMed 780G System , an automated insulin delivery system that automatically delivers and adjusts the insulin levels being administered to the patient based on their requirement. Equipped with a glucose sensor wire, it also keeps track of dosage patterns. It alerts users when glucose levels are extremely high (hyperglycemic) or low (hypoglycemic) levels and helps in maintaining glucose levels in the body.
Arrival of Smart Wearables to Manage the Rising Prevalence of the Condition
To meet the rising Philippines diabetes care devices market demand, there have been continuous efforts to incorporate minimally invasive technologies to prevent the risk of infection associated with prolonged injection use. In September 2023 , MIT engineers devised a smart, wearable, and implantable device to minimize the application of injections in diabetes management. The device contains pancreatic islet cells, that automatically produce insulin when needed, eliminating the risk of hormone imbalance. However, the device commonly runs out of oxygen and stops insulin production. To address the shortcoming, the scientists formulated a new implantable device, that splits water vapors present in the body to produce extra oxygen.
Rising Prevalence for Insulin Pumps to Boost Philippines Diabetes Care Devices Market Size
In July 2023, Tandem Diabetes Care introduced the world’s smallest durable automated insulin delivery device. It is small enough to fit a coin pocket, and possesses a unique detachable quality wherein, it can be connected on a cloth or the body with an adhesive or clips. Equipped with a 200-unit insulin cartridge, the device can be connected to a mobile app, or an ‘on-pump button’ to be used as per patient convenience. It is also incorporated with other valuable features such as detachable infusion sets and the ability for downloading software updates, when connected to a smart phone.
Market Breakup by Type
Market Breakup by Management Devices
Market Breakup by End User
Market Breakup by Distribution Channel
In Philippines, the market is impacted by multiple factors including cultural aspects and dynamic local dietary habits influencing the incidence of diabetes, subsequently, the types of diabetes care devices in demand. Manila (national capital region) is poised to lead the Philippines diabetes care devices market share in coming years. The share can be attributed to improved healthcare facilities, heightened awareness, and higher income levels of people. Such facilities also indicate a higher inclination towards adopting the latest technologies such as insulin pumps and continuous blood glucose monitoring devices.
Apart from the national capital region, other parts of the country, such as Baguio City and Central Luzon are witnessing rapid growth, owing to increased healthcare infrastructure improvements. Simultaneous economic growth is also poised to impact the market, as people get equipped to adopt newer facilities.
In September 2023, Abbott acquired Bigfoot Biomedical, a pioneer in developing smart insulin management systems for diabetes patients. The acquisition is aimed at developing continuous blood glucose monitoring devices as well as provide insulin injection support to the patients. Bigfoot has already developed Bigfoot Unity®, a smart insulin management system featuring connected insulin pen caps. Leveraging Abbott's FreeStyle Libre® technology, the collaboration aims at delivering remote care and monitoring to the patients.
The key features of the Philippines diabetes care devices market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Management Devices |
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Breakup by End User |
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Breakup by Distribution Channel |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Philippines Diabetes Care Devices Market Overview
3.1 Philippines Diabetes Care Devices Market Historical Value (2017-2023)
3.2 Philippines Diabetes Care Devices Market Forecast Value (2024-2032)
4 Philippines Diabetes Care Devices Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.2.1 Strengths
4.2.2 Weaknesses
4.2.3 Opportunities
4.2.4 Threats
4.3 Porter’s Five Forces Model
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Degree of Rivalry
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Philippines Diabetes Care Devices Market Segmentation
5.1 Philippines Diabetes Care Devices Market by Type
5.1.1 Market Overview
5.1.2 Monitoring Devices
5.1.2.1 Self-monitoring Blood Glucose Devices
5.1.2.1.1 Glucometer Devices
5.1.2.1.2 Test Strips
5.1.2.1.3 Lancets
5.1.2.2 Continuous Blood Glucose Monitoring
5.1.2.2.1 Sensors
5.1.2.2.2 Durables
5.2 Philippines Diabetes Care Devices Market by Management Devices
5.2.1 Insulin Pump
5.2.1.1 Insulin Pump Device
5.2.1.2 Insulin Pump Reservoir
5.2.1.3 Infusion Set
5.2.2 Insulin Syringes
5.2.3 Insulin Cartridges
5.2.4 Disposable Pens
5.3 Philippines Diabetes Care Devices Market by End User
5.3.1 Market Overview
5.3.2 Hospitals and Clinics
5.3.3 Homecare Settings
5.3.4 Diagnostic Centres
5.4 Philippines Diabetes Care Devices Market by Distribution Channel
5.4.1 Market Overview
5.4.2 Retail Pharmacies
5.4.3 Online Pharmacies
5.4.4 Diabetes Clinics and Centres
6 Patent Analysis
6.1 Analysis by Type of Patent
6.2 Analysis by Publication Year
6.3 Analysis by Issuing Authority
6.4 Analysis by Patent Age
6.5 Analysis by CPC Analysis
6.6 Analysis by Patent Valuation
6.7 Analysis by Key Players
7 Grants Analysis
7.1 Analysis by Year
7.2 Analysis by Amount Awarded
7.3 Analysis by Issuing Authority
7.4 Analysis by Grant Application
7.5 Analysis by Funding Institute
7.6 Analysis by NIH Departments
7.7 Analysis by Recipient Organization
8 Funding Analysis
8.1 Analysis by Funding Instances
8.2 Analysis by Type of Funding
8.3 Analysis by Funding Amount
8.4 Analysis by Leading Players
8.5 Analysis by Leading Investors
8.6 Analysis by Geography
9 Partnership and Collaborations Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
10.1 Regulatory Overview
11 Supplier Landscape
11.1 Becton and Dickenson
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.1.5 Certifications
11.2 Medtronic
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.2.5 Certifications
11.3 Insulet
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.3.5 Certifications
11.4 Tandem
11.4.1 Financial Analysis
11.4.2 Financial Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.4.5 Certifications
11.5 Ypsomed
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.5.5 Certifications
11.6 Novo Nordisk
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.6.5 Certifications
11.7 Sanofi
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.7.5 Certifications
11.8 Eli Lilly
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.8.5 Certifications
11.9 Abbott
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.9.5 Certifications
11.10 Roche
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.10.5 Certifications
11.11 Lifescan (Johnson & Johnson)
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.11.5 Certifications
11.12 Dexcom
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.12.5 Certifications
12 Philippines Diabetes Care Devices Market - Distribution Model (Additional Insight)
12.1 Overview
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
15.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
The market is anticipated to grow at a CAGR of 7.6% during the forecast period of 2024-2032, driven by rising incidence of diabetes and awareness programs to educate the people with the complications associated with the disease.
The market demand is driven by the increasing prevalence of sedentary lifestyle in the people, new product launches as well as surge in adoption of sensors and insulin pumps to manage diabetes effectively.
The advent of smart wearables to offer personalised and precise treatment to the patients is a major market trend. In September 2023, engineers at MIT developed a smart, wearable, and implantable device to minimize the application of injections in diabetes management. Infused with pancreatic islet cells, the device automatically produces insulin when needed, eliminating the risk of hormone imbalance.
Based on types, the market broadly contains monitoring devices, which are further divided into self-monitoring and continuous blood glucose devices. Self-monitoring devices include glucometer devices, test strips and lancets, while continuous blood monitoring devices include sensors and durables.
Major distribution channels include retail pharmacies, online pharmacies, and diabetes clinics and centres.
Major end users include hospitals and clinics, homecare settings, and diagnostic centres.
Insulin pump, syringes, cartridges, and disposable pens are common types available in the market. Insulin pumps are further divided into insulin pump device, pump reservoir and infusion sets.
Key players involved in the market are Becton and Dickenson, Medtronic, Insulet, Tandem, Ypsomed, Novo Nordisk, Sanofi, Eli Lilly, Abbott, Roche, Lifescan (Johnson & Johnson) and Dexcom.
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