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

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.