Philippines Diabetes Care Devices Market Report and Forecast 2024-2032

Philippines Diabetes Care Devices Market Outlook

The Philippines diabetes care devices market size is expected to grow at a CAGR of 7.6% during the forecast period of 2024-2032, driven by rising incidence of diabetes and awareness initiatives to detect the condition early and prevent complications associated with it. 

Philippines Diabetes Care Devices Market Overview

In Philippines, diabetes is one of the leading causes of mortality with a prevalence rate of 6.3%, estimated to affect approximately 5.2 million  people by 2030. It is estimated that 1 out of every 14 adults live with diabetes in the country. Obesity and increasing age are the primary risk factors for the disease. In the modern-day lifestyle, many people lead a hectic and sedentary lifestyle leading to a spike in diabetes incidence. In addition, rising indulgence in alcohol and other substances also results in high susceptibility of the condition.

Philippines diabetes care devices market growth is driven by increasing technical advancements to develop highly effective and convenient treatment alternatives for the patients. Rising collaborations and investments by the healthcare companies and government is another major aspect of the growing market size. The surge in government awareness programs to offer relevant information and diagnostic factors of the disease along with improvements in the healthcare infrastructure, is expected to impact the market positively.

New Product Launches to Aid the Market Growth

With the increasing prevalence of diabetes, there has been significant surge in approvals and new product launches, which are expected to provide a more flexible, wider opportunities and boost the Philippines diabetes care devices market share in coming years. In May 2023, Beta Bionics  received the FDA approval for iLet ACE Pump and iLet Dosing Decision Software to treat type 1 diabetes in people aged 6 years or above. Used as a part of iLet Bionic Pancreas, the device deploys automated insulin dosing (AID) system, an algorithm to control the delivery of insulin in the body.

Increasing Adoption of Sensors to Offer Precise Dosage

Diabetes is a complex condition which affects everyone differently, hence, early detection and indication of glucose levels can help people make long-term adjustments to adapt to their condition better. The advent and convergence of latest technologies such as sensors are likely to enhance the Philippines diabetes care devices market value in the forecast period. In April 2023, Medtronic launched MiniMed 780G System , an automated insulin delivery system that automatically delivers and adjusts the insulin levels being administered to the patient based on their requirement. Equipped with a glucose sensor wire, it also keeps track of dosage patterns. It alerts users when glucose levels are extremely high (hyperglycemic) or low (hypoglycemic) levels and helps in maintaining glucose levels in the body.

Arrival of Smart Wearables to Manage the Rising Prevalence of the Condition

To meet the rising Philippines diabetes care devices market demand, there have been continuous efforts to incorporate minimally invasive technologies to prevent the risk of infection associated with prolonged injection use. In September 2023 , MIT engineers devised a smart, wearable, and implantable device to minimize the application of injections in diabetes management. The device contains pancreatic islet cells, that automatically produce insulin when needed, eliminating the risk of hormone imbalance. However, the device commonly runs out of oxygen and stops insulin production. To address the shortcoming, the scientists formulated a new implantable device, that splits water vapors present in the body to produce extra oxygen.

Rising Prevalence for Insulin Pumps to Boost Philippines Diabetes Care Devices Market Size

In July 2023, Tandem Diabetes Care  introduced the world’s smallest durable automated insulin delivery device. It is small enough to fit a coin pocket, and possesses a unique detachable quality wherein, it can be connected on a cloth or the body with an adhesive or clips. Equipped with a 200-unit insulin cartridge, the device can be connected to a mobile app, or an ‘on-pump button’ to be used as per patient convenience. It is also incorporated with other valuable features such as detachable infusion sets and the ability for downloading software updates, when connected to a smart phone.

Philippines Diabetes Care Devices Market Segmentation

Market Breakup by Type

• Monitoring Devices
  • Self-monitoring Blood Glucose Devices
    • Glucometer Devices
    • Test Strips
    • Lancets
  • Continuous Blood Glucose Monitoring
    • Sensors
    • Durables

Market Breakup by Management Devices

• Insulin Pump
  • Insulin Pump Device
  • Insulin Pump Reservoir
  • Infusion Set

• Insulin Syringes

• Insulin Cartridges

• Disposable Pens

Market Breakup by End User

• Hospitals and Clinics

• Homecare Settings

• Diagnostic Centres

Market Breakup by Distribution Channel

• Retail Pharmacie

• Online Pharmacies

• Diabetes Clinics and Centres

Philippines Diabetes Care Devices Market Regional Analysis

In Philippines, the market is impacted by multiple factors including cultural aspects and dynamic local dietary habits influencing the incidence of diabetes, subsequently, the types of diabetes care devices in demand. Manila (national capital region) is poised to lead the Philippines diabetes care devices market share in coming years. The share can be attributed to improved healthcare facilities, heightened awareness, and higher income levels of people. Such facilities also indicate a higher inclination towards adopting the latest technologies such as insulin pumps and continuous blood glucose monitoring devices.

Apart from the national capital region, other parts of the country, such as Baguio City and Central Luzon are witnessing rapid growth, owing to increased healthcare infrastructure improvements. Simultaneous economic growth is also poised to impact the market, as people get equipped to adopt newer facilities.

Philippines Diabetes Care Devices Market: Competitor Landscape

In September 2023, Abbott  acquired Bigfoot Biomedical, a pioneer in developing smart insulin management systems for diabetes patients. The acquisition is aimed at developing continuous blood glucose monitoring devices as well as provide insulin injection support to the patients. Bigfoot has already developed Bigfoot Unity®, a smart insulin management system featuring connected insulin pen caps. Leveraging Abbott's FreeStyle Libre® technology, the collaboration aims at delivering remote care and monitoring to the patients.

The key features of the Philippines diabetes care devices market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Becton and Dickenson

• Medtronic

• Insulet

• Tandem

• Ypsomed

• Novo Nordisk

• Sanofi

• Eli Lilly

• Abbott

• Roche

• Lifescan (Johnson & Johnson)

• Dexcom

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report