Market Size of Russia Diabetes Drugs and Devices Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 4.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Russia Diabetes Drugs and Devices Market Analysis
Russian diabetes drugs and devices market is estimated at USD 2.2 billion in the current year. The market is expected to reach USD 2.7 billion in five years, at a CAGR of more than 4% during the forecast period.
A year into the COVID-19 pandemic, it caused premature deaths, especially among the elderly. Russia has the ninth-highest number of coronavirus cases in the world. Most people who die from COVID-19 are affected by having two or more chronic conditions in the same person. Several studies have confirmed that chronic conditions such as diabetes are associated with undesirable outcomes in COVID-19 patients. Diabetes drugs are designed to stabilize and control blood sugar levels in people with diabetes. Antidiabetic drugs have become potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the novel coronavirus disease (COVID-19) pandemic. Rapid increases in the incidence and prevalence of diabetes and healthcare costs indicate increased use of diabetes care products. According to Roscongress, Russia ranks fifth in the world in terms of the number of people with diabetes between the ages of 20 and 79. In addition, the death rate among people with diabetes increased by 22% during the COVID-19 pandemic.
An increasing rate of new diagnoses of type 1 and type 2 diabetes has been observed, mainly due to obesity, unhealthy diet, and lack of exercise. Rapid increases in the incidence and prevalence of diabetes and healthcare costs indicate increased use of diabetes care products. In May 2021, the World Health Assembly agreed to a resolution to strengthen diabetes prevention and control. Action is recommended in the following areas: Improving access to insulin. Facilitate consolidating and harmonising regulatory requirements for insulin and other drugs and healthcare products used to treat diabetes. Evaluate the feasibility and potential value of establishing a web-based tool for sharing information related to transparency in the diabetes drug and healthcare products market.
Therefore, owing to the aforementioned factors, the studied market is anticipated to grow over the analysis period.
Russia 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 daily, 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. The Russia diabetes drugs and devices market is segmented by drugs (insulin, oral anti-diabetic drugs, non-insulin injectable drugs, and combination drugs), and devices (management devices such as insulin pumps, insulin pens, syringes, cartridges, and jet injectors, and monitoring devices including self-monitoring blood and continuous glucose monitoring). The report offers the value (in USD) and volume (in unit) for the above segments.
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| Drugs | |
| Oral Anti-Diabetes Drugs | |
| Insulin Drugs | |
| Combination Drugs | |
| Non-Insulin Injectable Drugs |
Russia Diabetes Drugs and Devices Market Size Summary
The Russian diabetes drugs and devices market is poised for growth, driven by an increasing prevalence of diabetes and the rising healthcare costs associated with it. The market is experiencing a surge in demand for diabetes care products, including antidiabetic drugs and continuous blood glucose monitoring devices. The latter has gained popularity as a more convenient alternative to traditional glucose meters, offering benefits such as improved blood sugar control and reduced mental burden for patients and caregivers. Technological advancements in glucose sensor technologies, including electrochemical and optical sensors, are further propelling market expansion. The market landscape is characterized by numerous new product launches, international research collaborations, and heightened public awareness of diabetes, presenting significant opportunities for industry players.
Efforts to combat diabetes in Russia are multifaceted, involving government initiatives and public-private partnerships. The Russian government is working to implement the National Diabetes Plan, which aims to provide comprehensive diabetes treatment and improve the reimbursement system to reduce out-of-pocket expenses for patients. Additionally, programs like the Urban Modified Diabetes Program in Moscow are addressing diabetes challenges in vulnerable populations. Major manufacturers, such as Abbott and Medtronic, are actively engaging in mergers, acquisitions, and partnerships to enhance their market presence and drive innovation. These strategic moves, coupled with ongoing research and development in insulin delivery devices, are expected to sustain market growth over the forecast period.
Russia Diabetes Drugs and Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Dynamics
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1.2.1 Market Drivers
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1.2.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products and Services
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1.3.5 Intensity of Competitive Rivalry
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2. Market Segmentation (Market Size by Value - USD)
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2.1 Devices
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2.1.1 Monitoring Devices
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2.1.1.1 Self-monitoring Blood Glucose Devices
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2.1.1.2 Continuous Blood Glucose Monitoring
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2.1.2 Management Devices
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2.1.2.1 Insulin Pump
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2.1.2.2 Insulin Syringes
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2.1.2.3 Insulin Cartridges
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2.1.2.4 Disposable Pens
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2.2 Drugs
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2.2.1 Oral Anti-Diabetes Drugs
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2.2.2 Insulin Drugs
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2.2.3 Combination Drugs
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2.2.4 Non-Insulin Injectable Drugs
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Russia Diabetes Drugs and Devices Market Size FAQs
What is the current Russia Diabetes Drugs and Devices Market size?
The Russia Diabetes Drugs and Devices Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Russia Diabetes Drugs and Devices Market?
Medtronics, Roche, NovoNordisk, Sanofi and Omnipod are the major companies operating in the Russia Diabetes Drugs and Devices Market.
