Philippines Diabetes Care Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 77.63 Million |
| Market Size (2029) | USD 110.05 Million |
| CAGR (2024 - 2029) | 7.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Philippines Diabetes Care Devices Market Analysis
The Philippines Diabetes Care Devices Market size is estimated at USD 77.63 million in 2024, and is expected to reach USD 110.05 million by 2029, growing at a CAGR of 7.20% during the forecast period (2024-2029).
Diabetes is characterized by increased blood sugar levels due to compromised insulin production and/or function. It poses severe health risks, from heart attacks and strokes to blindness and kidney failure.
Given these risks, the rising prevalence of diabetes is poised to propel the country's market growth. According to a February 2024 article by Elsevier Ltd, diabetes cases in the Philippines are expected to soar to 7.5 million by 2045.
The same source highlighted that diabetic retinopathy is a primary cause of preventable blindness in the Philippines' Region 3, while diabetic nephropathy is a significant contributor to renal diseases nationwide. The Philippine Guidelines on Periodic Health Examination (PhEX) advocate for fasting blood sugar (FBS) tests, especially for adults over 40 and those with specific risk factors, to screen for type 2 diabetes mellitus (2D).
Recognizing the urgency, local and national initiatives in the Philippines have been rolled out to bolster diabetes care. In November 2023, the Department of Health (DOH) and the Central Luzon Center for Health and Development (CLCHD) emphasized the importance of regular Fasting Blood Sugar (FBS) tests for individuals with diabetes. This heightened focus on testing is anticipated to uncover a larger diabetic population, subsequently driving up the demand for diagnostic and monitoring devices.
With the diabetes incidence on the rise and a concerted effort to bolster diabetic care, the market is poised for significant growth.
Philippines Diabetes Care Devices Market Trends
The Increasing Diabetes Population in the Philippines is Expected to Drive the Market During the Forecast Period
The diabetes care market in the Philippines is experiencing considerable growth, driven by the increasing prevalence of diabetes among the population. Addressing the healthcare requirements of individuals with diabetes, specifically in low- and middle-income countries like the Philippines, requires consistent follow-ups with medical professionals, a commitment to healthy lifestyles, and robust patient education to avert long-term complications.
For instance, in February 2024, a study by Frontiers Media SA highlighted the positive impact of structured patient education on enhancing disease awareness and promoting behavioral changes among Filipinos with type 2 diabetes. Similarly, HEMO LAB PHILIPPINES INC. reported in the second quarter of 2023 that a staggering 85% of Filipinos aged over 35 were at risk of developing type 2 diabetes.
Such alarming statistics underscore the urgency for heightened health awareness. Consequently, the organization initiated a campaign, offering free urine and blood sugar tests to Taytay Rizal residents and distributing complimentary glucose monitors to diabetic patients from April to June 2024.
The rising diabetes population in the Philippines is a critical driver for the diabetes care market. Efforts by healthcare organizations to provide education, regular health check-ups, and essential medical supplies are vital in managing this growing health concern. As the market continues to expand, these initiatives will play a crucial role in the enhancement of the quality of life for individuals living with diabetes in the Philippines.
Management Devices Hold a Significant Market Share
Diabetes exerts a disproportionate financial burden on individuals in low and middle-income countries, with complications significantly escalating direct healthcare costs. The Philippines has incorporated the Universal Health Care Act, establishing the Health Technology Assessment Council (HTAC) to advise on medications and technologies eligible for government funding. A single insulin analog pen costs three days' worth of the minimum wage.
HTAC's primary goal is to include insulin analogs in the national formulary to reduce costs and shape governmental healthcare discussions. As this initiative gains momentum, bolstering primary care facilities and referral networks becomes pivotal for a robust diabetes care infrastructure.
Given the country's high diabetes prevalence, several emerging players are expanding their footprint in the Philippines. For instance, in February 2024, Mesh Bio secured a USD 3.5 million investment to introduce its digital twin technology to the Philippines. This software, functioning as a medical device, leverages digital twins to forecast a 3-year risk in patients with chronic kidney disease with type 2 diabetes, utilizing clinical data from hospital EMRs. Mesh Bio's strategic focus lies on Indonesia and the Philippines, where chronic diseases are rampant and fatal.
Diabetes care in the Philippines faces challenges due to limited resources, governmental support, and economic constraints. For instance, the national insurance system offers incomplete coverage for diabetic care, while private insurers provide only minimal assistance. Consequently, a vast majority of patients bear the brunt of expenses, covering costs like laboratory tests and daily prescriptions out-of-pocket.
Philippines Diabetes Care Devices Industry Overview
The Philippine diabetes care devices market is semi-consolidated, with the presence of key players such as Medtronic, Insulet Corporation, Novo Nordisk A/S, Sanofi, and F. Hoffmann-La Roche Ltd.
Advancements in diabetes devices, notably continuous glucose monitoring, are boosting market growth. Noteworthy mergers, like Dexcom's acquisition of TypeZero Technologies, are setting the stage for automated insulin delivery in diabetes care devices.
Philippines Diabetes Care Devices Market Leaders
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Medtronic
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Insulet Corporation
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Novo Nordisk A/S
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Sanofi
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F. Hoffmann-La Roche Ltd
*Disclaimer: Major Players sorted in no particular order
Philippines Diabetes Care Devices Market News
- March 2024: Novo Nordisk Philippines collaborated with Roche Diabetes Care and Humanity and Inclusion to launch the Changing Diabetes in Children (CDiC) program in Valenzuela City, Philippines. This five-year program aims to provide comprehensive patient education, bolster the healthcare workforce, establish a network of clinic facilities, and ensure free access to insulin and medical supplies for children and young adults with type 1 diabetes.
- September 2023: The Department of Health (DOH) cautioned people in the Philippines regarding misleading information about diabetes remedies as a part of the diabetes awareness program. The Department of Health (DOH) stressed that adopting a healthy lifestyle was key to preventing non-communicable diseases, such as diabetes, rather than depending on products sold online.
Philippines Diabetes Care Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Diabetes Prevalence in the Country
- 4.2.2 Growing Government Initiatives to Boost Adoption of Diabetes Care Devices
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4.3 Market Restraints
- 4.3.1 Limited Insurance Coverage for Diabetes Care
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD)
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5.1 By Device Type
- 5.1.1 Monitoring Devices
- 5.1.1.1 Self-monitoring Blood Glucose Devices
- 5.1.1.1.1 Glucometer Devices
- 5.1.1.1.2 Test Strips
- 5.1.1.1.3 Lancets
- 5.1.1.2 Continuous Blood Glucose Monitoring
- 5.1.1.2.1 Sensors
- 5.1.1.2.2 Durables
- 5.1.2 Management Devices
- 5.1.2.1 Insulin Pump
- 5.1.2.2 Insulin Syringes
- 5.1.2.3 Disposable Pens
- 5.1.2.4 Others
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes Population (2021-2029)
- 6.2 Type-2 Diabetes Population (2021-2029)
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Becton, Dickinson and Company
- 7.1.2 Medtronic
- 7.1.3 Insulet Corporation
- 7.1.4 Novo Nordisk A/S
- 7.1.5 Sanofi
- 7.1.6 Eli Lilly and Company
- 7.1.7 Abbottt
- 7.1.8 F. Hoffmann-La Roche Ltd
- 7.1.9 Merck & Co. Inc.
- 7.1.10 Dexcom Inc.
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityPhilippines Diabetes Care Devices Industry Segmentation
Diabetes care devices refer to devices that diabetic patients use to control blood sugar levels, prevent diabetes complications, reduce the burden of diabetes, and improve quality of life.
The Philippine diabetes care devices market is segmented by device type. By device type, the market is segmented into management devices and monitoring devices. By management devices, the market is segmented into insulin pumps, insulin pens, syringes, and others. By monitoring devices, the market is segmented into self-monitoring blood and continuous glucose monitoring. The report offers the value (USD) for all the above segments.
| By Device Type | Monitoring Devices | Self-monitoring Blood Glucose Devices | Glucometer Devices |
| Test Strips | |||
| Lancets | |||
| By Device Type | Monitoring Devices | Continuous Blood Glucose Monitoring | Sensors |
| Durables | |||
| By Device Type | Management Devices | Insulin Pump | |
| Insulin Syringes | |||
| Disposable Pens | |||
| Others |
Philippines Diabetes Care Devices Market Research FAQs
How big is the Philippines Diabetes Care Devices Market?
The Philippines Diabetes Care Devices Market size is expected to reach USD 77.63 million in 2024 and grow at a CAGR of 7.20% to reach USD 110.05 million by 2029.
What is the current Philippines Diabetes Care Devices Market size?
In 2024, the Philippines Diabetes Care Devices Market size is expected to reach USD 77.63 million.
Who are the key players in Philippines Diabetes Care Devices Market?
Medtronic, Insulet Corporation, Novo Nordisk A/S, Sanofi and F. Hoffmann-La Roche Ltd are the major companies operating in the Philippines Diabetes Care Devices Market.
What years does this Philippines Diabetes Care Devices Market cover, and what was the market size in 2023?
In 2023, the Philippines Diabetes Care Devices Market size was estimated at USD 72.04 million. The report covers the Philippines Diabetes Care Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Philippines Diabetes Care Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Philippines Diabetes Care Devices Industry Report
Statistics for the 2024 Philippines Diabetes Care Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Philippines Diabetes Care Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
