Philippines Diabetes Drugs and Devices Market Size (2024 - 2029)

The Philippines diabetes drugs and devices market is projected to experience growth over the forecast period, driven by various factors including the increasing prevalence of diabetes and prediabetes in the population. The market's expansion is influenced by the heightened risk that individuals with diabetes face regarding severe outcomes from illnesses like COVID-19, which underscores the importance of effective diabetes management solutions. As the market evolves, the demand for drugs and devices to manage diabetes is expected to rise, contributing to the overall market size growth.

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Market Size of Philippines Diabetes Drugs and Devices Industry

Philippines Diabetes Drugs and Devices Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2018 - 2022
CAGR 4.00 %

Major Players

Philippines Diabetes Drugs and Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Philippines Diabetes Drugs and Devices Market Analysis

Philippines diabetes drugs and devices market size is estimated at USD 0.3 billion in the current year. The market is expected to reach USD 0.4 billion in five years, registering a CAGR of more than 4% during the forecast period.

COVID-19 is a new disease caused by the SARS-CoV-2 virus strain. Most people infected with the virus develop mild to moderate respiratory illness and recover without specific treatment. Older people and people with underlying medical conditions such as diabetes, high blood pressure, heart disease, lung disease, obesity, and cancer are at increased risk of developing serious illnesses. The virus invades multiple cells in the body, including the heart and lungs, causing inflammatory changes that lead to inflammation and damage to multiple organs. Diabetes and systemic inflammation are linked. Studies have shown that people with diabetes have higher viral entry, lower immune responses, lower viral clearance, and dysregulation of inflammatory markers.

People with diabetes may be at the same risk of contracting COVID-19 as nondiabetics. On the other hand, people with diabetes are at increased risk of hospitalization, ICU admission, severe outcomes and death after being infected with COVID-19 due to the essential features of the disease.

Diabetes is a complex disease characterized by elevated blood sugar levels resulting from impaired insulin production and\/or action. Insulin is a pancreatic hormone that controls blood sugar levels in the body. Uncontrolled diabetes has many effects, including heart attacks, strokes, amputations, blindness, and kidney failure. According to DOST-FNRI data, prediabetes affects approximately 14.2% of the population. Combining diabetes and prediabetes, one in five Filipinos has abnormal blood sugar levels.

Thus, the above factors are expected to drive market growth over the forecast period.

Philippines Diabetes Drugs and Devices Industry Segmentation

Patients with type 1 diabetes must be given insulin because their pancreas cannot process it. To control blood sugar levels, insulin must be given several times a day, such as when eating or drinking. Many people with type 2 diabetes also need to take antidiabetic drugs. These drugs include diabetes medications and injections such as insulin. Philippines diabetes drugs and devices market segmented by drugs (insulin, oral anti-diabetic drugs, non-insulin injectable drugs, and combination drugs), and devices (management devices (insulin pumps, insulin pens, syringes, cartridges, and jet injectors) and monitoring devices (self-monitoring blood and continuous glucose monitoring)). The report offers the value (in USD) and Volume (in unit) for the above segments.

Devices
Monitoring Devices
Self-monitoring Blood Glucose Devices
Continuous Blood Glucose Monitoring
Management Devices
Insulin Pump
Insulin Syringes
Insulin Cartridges
Disposable Pens
Drugs
Oral Anti-Diabetes Drugs
Insulin Drugs
Combination Drugs
Non-Insulin Injectable Drugs
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Philippines Diabetes Drugs and Devices Market Size Summary

The Philippines diabetes drugs and devices market is poised for growth, driven by the increasing prevalence of diabetes and prediabetes in the country. With a significant portion of the population affected by abnormal blood sugar levels, the demand for effective diabetes management solutions is on the rise. Continuous blood glucose monitors and other technological advancements are playing a crucial role in this market expansion. These devices, which offer real-time tracking of blood sugar levels, are becoming more prevalent as awareness programs spread across the Philippines. Despite the challenges posed by limited healthcare resources and high out-of-pocket costs, the market is expected to grow steadily over the forecast period, supported by innovations and strategic partnerships among key industry players.

The economic impact of diabetes in the Philippines is substantial, particularly in low- and middle-income areas where access to insulin and diabetes care is limited. The healthcare system faces significant barriers, including fragmented referral networks and inadequate government support, which hinder effective diabetes management. However, initiatives such as the inclusion of insulin analogues in prescriptions and the development of integrated automated insulin delivery systems are expected to improve access and reduce costs. Collaborations between major manufacturers and health organizations, such as the partnership between Novo Nordisk and Abbott Diabetes Care, are also contributing to the market's growth. These efforts aim to enhance the infrastructure for diabetes care and address the challenges faced by millions of Filipinos living with diabetes.

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Philippines Diabetes Drugs and Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Dynamics

      1. 1.2.1 Market Drivers

      2. 1.2.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitute Products and Services

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. Market Segmentation (Market Size by Value - USD)

    1. 2.1 Devices

      1. 2.1.1 Monitoring Devices

        1. 2.1.1.1 Self-monitoring Blood Glucose Devices

        2. 2.1.1.2 Continuous Blood Glucose Monitoring

      2. 2.1.2 Management Devices

        1. 2.1.2.1 Insulin Pump

        2. 2.1.2.2 Insulin Syringes

        3. 2.1.2.3 Insulin Cartridges

        4. 2.1.2.4 Disposable Pens

    2. 2.2 Drugs

      1. 2.2.1 Oral Anti-Diabetes Drugs

      2. 2.2.2 Insulin Drugs

      3. 2.2.3 Combination Drugs

      4. 2.2.4 Non-Insulin Injectable Drugs

Philippines Diabetes Drugs and Devices Market Size FAQs

The Philippines Diabetes Drugs and Devices Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Medtronics, Roche, NovoNordisk, Sanofi and Omnipod are the major companies operating in the Philippines Diabetes Drugs and Devices Market.

Philippines Diabetes Drugs and Devices Market Report Snapshots

Philippines Diabetes Drugs and Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)