Hyderabad, Aug. 16, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "South Africa Diabetes Care Devices Market Report (2023-2028)," the market is estimated at USD 146.56 million in 2023. It is expected to register a CAGR of 4.08% during the forecast period.
One in nine adults living in South Africa is living with diabetes, which indicates a significant health concern. The main challenge faced by this diabetic patient population is the imbalances in blood glucose levels. General lab diagnostic tests aid in diagnosing diabetes, but patients with fluctuations in glucose levels require frequent monitoring. Patients using insulin need to check blood glucose levels regularly, adjust insulin doses, or change medication as needed. Players in the South African diabetes care devices market are focusing on technological innovations and advanced product development to help patients. The market is expected to witness growth in the coming years.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 146.56 million |
| Market Size (2028) | USD 179 million |
| CAGR (2023-2028) | 4.08% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rising incidence of diabetes and healthcare expenditure. |
| Increased adoption of insulin delivery devices. |
Who are the Top Companies in the South Africa Diabetes Care Devices Market?
The market is moderately fragmented. The significant players in the South African diabetes care devices market are:
- Becton and Dickinson
- Medtronic
- Insulet Corporation
- Tandem Diabetes Care
- Ypsomed AG
- Novo Nordisk AS
- Sanofi
- Eli Lilly
- Abbott
- F. Hoffmann-La Roche AG
- Lifescan (Johnson & Johnson)
- Dexcom
Other Reports That Might Be of Your Interest:
- North America Diabetes Care Devices Market Report - The North American diabetes care devices market size is estimated at USD 25.91 billion in 2023. It is expected to reach USD 35.02 billion by 2028, at a CAGR of 6.21% during the forecast period (2023-2028).
- India Diabetes Care Devices Market Report - The Indian diabetes devices market size is estimated at USD 2 billion in 2023. It is expected to reach USD 2.41 billion by 2028, at a CAGR of 2.28% during the forecast period (2023-2028).
Key Highlights from the South Africa Diabetes Care Devices Market Report:
The Highest Diabetes Prevalence in Africa
- Diabetes prevalence in South Africa is the highest in Africa at 11.3%, leading to significant health expenditure of around USD 7.2 billion every year. It doesn't stop there. The diabetes population in the country is projected to increase by around 2.5% over the next five years.
- Rapid urbanization in South Africa has led to unhealthy diets and physical inactivity, contributing to a growing obesity epidemic, particularly among women.
- Blood glucose monitoring provides critical information for managing diabetes effectively. Monitoring frequency varies based on individual factors. Education and healthy decision-making are key strategies to reduce diabetes prevalence in South Africa. The government is taking initiatives like a sugar tax and prevention programs.
- The diabetes care products market in the country is expected to grow in the upcoming years due to the ongoing efforts to address the associated challenges.
Need for Continuous Glucose Monitoring
- Continuous Glucose Monitoring (CGM) devices are automated systems that monitor glucose levels and consist of a small device worn on the body with a sensor that checks glucose levels from interstitial fluid samples. This segment is projected to experience a CAGR of 11.4% in the next five years.
- CGMs offer benefits such as improved glucose management, better sleep, and reduced mental load for patients and caregivers, enhancing their appeal and potential market growth.
- These devices are becoming more affordable with technological advancements.
What are the Latest Developments in the South Africa Diabetes Care Devices Market?
- In September 2022, Abbott announced that FreeStyle Libre, a continuous glucose monitoring system, significantly reduced the rate of hospitalizations.
- In June 2022, LifeScan announced that the peer-reviewed journal Diabetes Technology and Therapeutics published real-world evidence of improved glycemic control in people with diabetes with a Bluetooth-connected blood glucose meter with Mobile Diabetes Management Application.
Mordor Intelligence has Segmented the South Africa Diabetes Care Devices Market Based on Management Devices and Monitoring Devices.
- By Management Devices (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Insulin Pump
- Insulin Pump Device
- Insulin Pump Reservoir
- Infusion Set
- Insulin Syringes
- Cartridges in Reusable Pens
- Insulin Disposable Pens
- Jet Injectors
- Insulin Pump
- By Monitoring Devices (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Self-monitoring Blood Glucose
- Glucometer Devices
- Blood Glucose Test Strips
- Lancets
- Continuous Glucose Monitoring
- Sensors
- Durables (Receivers and Transmitters)
- Self-monitoring Blood Glucose
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the South Africa Diabetes Care Devices Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Malaysia Diabetes Care Devices Market Report - The Malaysian diabetes care devices market size is expected to grow from USD 307.27 million in 2023 to USD 386.59 million by 2028, at a CAGR of 4.70% during the forecast period (2023-2028).
- Italy Diabetes Care Devices Market Report - The Italian diabetes care devices market size is estimated at USD 0.92 billion in 2023. It is expected to reach USD 1.27 billion by 2028, at a CAGR of 6.70% during the forecast period (2023-2028).
- United Kingdom Diabetes Care Devices Market Report - The UK diabetes care devices market size is expected to grow from USD 1 billion in 2023 to USD 1.09 billion by 2028, at a CAGR of 6.72% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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