Market Analysis - Global Diabetes 2019
European Diabetes Market is growing rapidly. Data from the International Diabetes Federation to mark World Diabetes Day in November last year showed that there were 803,900 diabetics in the UAE, about 19 per cent of the population. Middle East Diabetes Market is expected to grow at a CAGR of 5.1% and expected to reach US$ 16.4 billion by 2023 from US$ 11.6 billion in 2016. In countries like Saudi Arabia, Kuwait, Bahrain, Qatar and UAE, about 24%, 23%, 22%, 20% and 19% of the population is affected by this disease respectively. By 2020, an estimated 32% of the adult population (age 20-79), including both UAE nationals and expatriates, may have diabetes or prediabetes at a possible cost of $8.52 billion (USD) (AED 31.27 billion) over the next decade if current trends continue. Medical costs attributable to diabetes and prediabetes in the UAE are forecast to increase to perhaps $1.04 billion (AED 3.82 billion) by 2020, representing a 58% increase from an estimated $657 million (AED 2.41 billion) in 2010. Moreover, the UAE is also growing and is the second largest market for Middle East countries on Diabetes.
There are plenty of large and small market players which operate in the Middle East and Africa diabetes market are: Abbott (USA), Bayer AG (Germany), Becton Dickinson and Company (USA), Johnson & Johnson Services, Inc. (USA), Merck & Co., Inc. (USA), Novartis AG (Switzerland), Novo Nordisk A/S (Denmark), Roche Diabetes Care, Inc. (USA), Sanofi-Aventis U.S. LLC (US), Ypsomed (Switzerland).