INDIA DIABETES MEDICAL DEVICE MARKET

KEY FINDINGS

• The Indian healthcare sector has experienced rapid change in recent years and has become significantly more visible over the last decade, with a renewed focus from the government and growing market demand for healthcare services and products. 
• The Indian population is growing at a rate of 1.6 percent per year and has an elderly population of over 100 million. 
• The Indian government increased the list of medical devices covered under the Drugs and Cosmetics Act of 1940, bringing several categories of implantable devices under the provision of the Medical Device Rules (MDR) 2017.
• Currently, 37 medical devices are classified as drugs and regulated under the Drugs and Cosmetics Act. 
• Cardiac stents, drug-eluting stents, knee implants, condoms, and intra-uterine devices are included in the National List of Essential Medicines and are subject to price caps. 
• In January 2022, the Indian government issued a notification requiring all medical device companies to register their devices with the Central Drugs Standard Control Organization in compliance with a mandatory ISO 13485 certification.
• High blood sugar levels are a hallmark of the metabolic disorder diabetes mellitus, also known as diabetes. Type 1 diabetes or insulin-dependent diabetes mellitus is caused by a complete lack of insulin. Type 2 diabetes mellitus is a condition where the body does not produce enough insulin, or the body cannot utilize the insulin it produces.
• Diabetes care devices are devices used to monitor the glucose levels in the blood. The main types of diabetes care devices include glucose monitoring devices and management devices.
• Hand-held, portable diagnostic equipment, including devices for blood sugar and blood pressure testing, is also a fast-growing segment as India has around 77 million diabetics, a number expected to swell to 90 million by 2025.
• In particular, India has witnessed a surge in the development and adoption of cutting-edge diabetes medical devices, aimed at enhancing patient outcomes, improving quality of life, and reducing long-term complications.
• The introduction of diabetes medical devices in India has been a transformative journey. Traditional methods of diabetes management, such as self-monitoring blood glucose (SMBG) using conventional glucometers, faced limitations due to the invasive nature of the procedure and the need for frequent finger pricking.
• However, the advent of continuous glucose monitoring (CGM) systems has revolutionized glucose monitoring, providing real-time data on blood sugar levels without the need for repetitive needle pricks. 
• These CGM systems have empowered patients and healthcare providers with valuable insights into glucose fluctuations, enabling timely interventions and personalized treatment plans.
• Insulin delivery devices have witnessed significant advancements, providing more precise and user-friendly options. Insulin pens have gained popularity due to their convenience, accuracy, and discreetness, allowing users to administer insulin doses without drawing attention. 

INDIA DIABETES MEDICAL DEVICE MARKET OVERVIEW

India has become one of the leading destinations for high-end diagnostic services, with tremendous capital investment for advanced diagnostic facilities. The Indian government has taken several initiatives to promote the development and adoption of diabetes medical devices, including the "Make in India" initiative and the National Health Mission.

The majority of the Indian population is underserved by healthcare facilities and lacks access to quality diabetes management services. This creates a significant demand for affordable and accessible diabetes medical devices. India holds the second-largest market in the diabetes care devices market after China in the Asia-Pacific region.

Monitoring devices include self-monitoring blood glucose (SMBG) and continuous glucose monitoring devices (CGM). The awareness of self-monitoring of glucose levels has increased widely in India, and the market for monitoring devices is expected to register high growth in the country.

The current CGM devices reduce finger pricking for measuring blood glucose levels. It shows a more detailed representation of blood glucose patterns and tendencies than can be achieved by conventional routine checking of glucose levels at set intervals.

The most prominent work culture perpetuated in the country, which includes sitting for hours in one position and eating fast food with little or no physical activity, is a significant contributor to diabetes in the working-age group, causing this rapid increase in diabetes cases in India.

American pharmaceutical company Eli Lilly has announced its decision to withdraw its insulin Glargine product, Basaglar KwikPen, from the Indian market. In India, the International Diabetes Federation (IDF) estimates that 10% of global health expenditure is spent on diabetes.

The Indian government is taking steps to promote the development and adoption of diabetes medical devices, such as through the "Make in India" initiative and the National Health Mission.

INTRODUCTION TO INDIA DIABETES MEDICAL DEVICE MARKET

Diabetes is a chronic disease that occurs either when the pancreas does not produce enough insulin or when the body cannot effectively use the insulin it produces. Insulin is a hormone that regulates blood sugar.

In India, there are estimated 77 million people above the age of 18 years are suffering from diabetes (type 2) and nearly 25 million are prediabetics (at a higher risk of developing diabetes in the near future).The burden of diabetes is high and increasing globally, and in developing economies like India, mainly fueled by the increasing prevalence of overweight/obesity and unhealthy lifestyles. 

The risk for diabetes is largely influenced by ethnicity, age, obesity and physical inactivity, unhealthy diet, and behavioural habits in addition to genetics and family history. 'Accu-Chek Active is a top-selling blood glucose monitoring device in India by Roche. It is now made in India.

Public spending on healthcare in India stands at just 1.2 per cent of GDP, but the Indian government has proposed increasing this to 2.5 per cent by 2025, with a special focus on underprivileged populations.

Healthcare-related barriers to entry are low compared to other industries, non-tariff barriers and the expansion of price controls on medical devices and the pharmaceutical industry constrain market prospects.

The increased adoption of insulin pumps has been a boon for people with type 1 diabetes, helping them achieve better glycemic control and reducing the risk of hypoglycemia.

The Indian Diabetes medical device market has many challenges like,high cost of diabetes medical devices, lack of awareness of available treatment options and devices, limited access to quality healthcare facilities, and inadequate infrastructure for manufacturing and distribution of medical devices.

Despite the challenges, the Indian Diabetes Medical Devices Market offers great opportunities for market rise like the rising prevalence of diabetes in India, growing demand for minimally invasive and non-invasive devices, and government support for the development and adoption of innovative diabetes medical devices.

INDIA DIABETES MEDICAL DEVICE MARKET SIZE AND FORECAST

The India diabetes medical device market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

TRENDS IN INDIA DIABETES MEDICAL DEVICE MARKET

Continuous Glucose Monitoring (CGM)

CGM devices provide real-time blood glucose data, which can help people with diabetes make better decisions about their treatment and lifestyle. CGM devices are becoming increasingly popular in India due to their ability to provide real-time blood glucose data and their convenience.

Minimally Invasive Device

There is a growing demand for minimally invasive devices, such as blood glucose monitoring devices that do not require finger sticks. Minimally invasive devices are becoming increasingly popular in India due to their convenience and their ability to reduce the pain and discomfort associated with traditional finger sticks.

Wearable Devices

Wearable devices, such as smartwatches and fitness trackers, are being used to track blood glucose levels, provide real-time feedback, and deliver personalized treatment recommendations. Wearable devices are becoming increasingly popular in India due to their convenience and their ability to provide real-time data.

Home Testing Devices

Home testing devices are becoming increasingly popular in India due to their convenience and their ability to provide real-time data. Home testing devices are being used to monitor blood glucose levels, track ketone levels, and provide personalized treatment recommendations.

Non-invasive Glucose Monitoring Devices

Non-invasive glucose monitoring devices are becoming increasingly popular in India due to their convenience and their ability to provide real-time data. Non-invasive glucose monitoring devices use sensors to measure blood glucose levels without the need for finger sticks.

NEW PRODUCT LAUNCH TO INDIA DIABETES MEDICAL DEVICE MARKET

LifeScan, a leading provider of blood glucose monitoring solutions, has announced the launch of Verily's CGM system in India. The system is designed to provide real-time blood glucose data to people with diabetes, which can help them to better manage their condition.

Nirodh Biolife receives CE mark for its non-invasive blood glucose monitoring device, enabling painless and convenient blood glucose readings without finger pricks, Abbott launches the FreeStyle Libre 3 CGM system in India, providing real-time blood glucose data and a wider range of glucose metrics and insights.

The Roche Diabetes Care Accu-Chek Guide Blood Glucose Monitoring System is a reliable and user-friendly device designed for people with diabetes. It allows individuals to monitor their blood glucose levels accurately and easily. The system features a strip port that enables hassle-free testing with a tiny sample size, reducing the need for excessive blood.

Its spill-resistant SmartPack vial ensures convenience and efficiency. The large, easy-to-read display and simple two-button navigation make it intuitive to use. Additionally, Bluetooth connectivity allows seamless data sharing with a smartphone app for better diabetes management. With its advanced technology and practical features, it empowers users to take control of their health effectively.

Dexcom, Inc. is a leading medical technology company that offers the Dexcom G6 Continuous Glucose Monitoring System. This innovative device provides real-time glucose monitoring for individuals with diabetes, helping them manage their condition more effectively. The Dexcom G6 utilizes a small sensor placed beneath the skin, eliminating the need for frequent finger stick tests. It wirelessly transmits glucose readings to a compatible smart device, such as a smartphone or a receiver, allowing users to track their glucose levels continuously.

INDIA DIABETES MEDICAL DEVICE MARKET MARKET DYNAMICS

There is a need to use medical technology effectively to address the huge gap between demand and supply of healthcare services in India. The medical technology sector in India is at a nascent stage with very limited indigenous manufacturing. 

There is a clear distinction in the way medical devices are used in India compared with the West, the global medical device companies would need to understand healthcare infrastructure, socio-economic patterns, contextual needs, and existing stereotypes that drive the use of medical devices in India.

Technology is playing an increasingly important role in diabetes management, which is expected to create new opportunities for innovative diabetes medical devices. The disposable income of the Indian population is increasing, which is expected to lead to an increase in demand for diabetes medical devices.

There is a rising adoption of continuous glucose monitoring (CGM) devices, CGM devices provide real-time blood glucose data, which can help people with diabetes make better decisions about their treatment and lifestyle.

RECENT PARTNERSHIPS IN INDIA DIABETES MEDICAL DEVICE MARKET

INDIA DIABETES MEDICAL DEVICE MARKET SEGMENTATION

India Diabetes Medical Device Market By monitoring devices

• Self-monitoring Blood Glucose Devices
•  Continuous Blood Glucose Monitoring

India Diabetes Medical Device Market By management Devices

•  Insulin Pump
•  Insulin Syringes
•  Insulin Cartridges
• Disposable Pen

India Diabetes Medical Device Market By end-user

• Individual patients
• Healthcare providers
• Hospitals and clinics

India Diabetes Medical Device Market By geographic location

• Urban areas
• Rural areas
• Tier-I, Tier-II, and Tier-III cities

India Diabetes Medical Device Market By distribution channel

• Pharmacies
• Direct sales to hospitals and clinics
• Online retailers
• Telemedicine platforms

COMPANY PROFILES IN INDIA DIABETES MEDICAL DEVICE MARKET

• Medtronics
• Becton Dickinson
• Roche
• Dexcom
• Abbott

THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What are the opportunities for diabetes medical device companies in the India market?
2. What is the government's investment in research and development in the India diabetes medical device sector?
3. Where is the diabetes medical device manufactured? What is the average margin per unit?
4. Market share of India diabetes medical device manufacturers and their upcoming products
5. What are the key drivers of growth in the India diabetes medical device market?
6. key predictions for next 5 years in India diabetes medical device market
7. What is the impact of e-pharmacies on the India diabetes medical device market?
8. Latest trends in diabetes medical device market, by every market segment
9. The market size (both volume and value) of the diabetes medical device market in 2024-2030 and every year in between?
10. What are the new therapies for non-communicable diseases (NCDs) being developed in India?
11. What are the key regulations governing the diabetes medical device industry in India?
12. How do regulatory changes affect the business operations of diabetes medical device companies in India?
13. What is the level of research and development activity in the India diabetes medical device industry?
14. What are the opportunities and challenges associated with adopting digital solutions?