Europe Diabetes Care Devices Market Size, Share & Industry Trends Analysis Report By Product (Insulin Delivery Devices and Blood Glucose Monitoring Devices), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Diabetes Care Devices Market would witness market growth of 5.3% CAGR during the forecast period (2022-2028).
Bluetooth-enabled insulin pens have recently improved diabetic technology by allowing users to record the dose and time of injection. Furthermore, some of these smartpens come with built-in bolus calculators to aid in insulin dose calculations. They also give clinicians or patients downloadable data reports. Clinicians have previously adjusted insulin administration based on blood glucose monitoring records and the assumption that patients are taking their insulin as recommended (both timing and dose). Omissions or errors in insulin doses and timing are prevalent in diabetic individuals who need repeated insulin injections. In a recent study by the National Library of Medicines, Bluetooth-enabled insulin pens were demonstrated to capture variance from insulin prescriptions in persons with T1D or T2D on insulin injection. In this study, 22% of the older subgroup showed noncompliance with bolus insulin dose, whereas 27% showed noncompliance with basal insulin administration. Nonadherence as determined by these approaches was also linked to poor glycemic control, according to the findings.
Diabetes is becoming more common among people of all ages in Europe, owing to rising rates of overweight and obesity, poor diet, and physical inactivity. According to the World Health Organization, people with diabetes die from cardiovascular disease (mainly heart disease and stroke) in 50% of cases, and kidney failure in 10-20% of cases. In the European Region, around 60 million people have diabetes, accounting for 10.3% of men and 9.6% of women aged 25 and over. Additionally, according to the International Diabetes Federation (IDF), diabetes has reached 15.3% in Germany. This is a 25% increase over the previous year's rate (12.2%), according to the organization. In Germany, an estimated 9.5 million adults have diabetes, putting them at risk of life-threatening complications.
4.5 million of the 9.5 million people are undiagnosed, putting them at a higher risk. These frightening statistics highlight the urgent need to implement Germany's national diabetes plan, which was stipulated in the 2018 coalition treaty. Diabetes affects 3.9 million people in the United Kingdom. In addition, it is expected to affect five million people in the UK by 2025. As a result of the increased prevalence of diabetes, people are focusing on controlling their blood glucose levels, necessitating the use of insulin syringes. Due to the increasing demand for syringes along with the higher prevalence of diabetes in the region, the regional market is witnessing an accelerated growth.
The Germany market dominated the Europe Diabetes Care Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,847.8 Million by 2028. The UK market is anticipated to grow at a CAGR of 4.4% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 6.1% during (2022 - 2028).
Based on Product, the market is segmented into Insulin Delivery Devices and Blood Glucose Monitoring Devices. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Diabetes Care Devices Market Size will Hit $29.3 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F. Hoffmann-La Roche Ltd., DexCom, Inc., Novo Nordisk A/S, Sanofi S.A., Zealand Pharma A/S, B. Braun Melsungen AG, Bayer AG, Abbott Laboratories, Ypsomed AG, Arkray, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Insulin Delivery Devices and
- Blood Glucose Monitoring Devices
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- F. Hoffmann-La Roche Ltd.
- DexCom, Inc.
- Novo Nordisk A/S
- Sanofi S.A.
- Zealand Pharma A/S
- B. Braun Melsungen AG
- Bayer AG
- Abbott Laboratories
- Ypsomed AG
- Arkray, Inc.
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