Diabetes occurs when the pancreas is unable to create insulin from the blood. Increased blood sugar levels induce untreated diabetes. Diabetes drugs are used to treat diabetes in specific. The purpose of diabetic treatment is to raise blood glucose levels. Diabetes care gadgets are used to monitor blood glucose levels in diabetics. A continuous glucose monitor (CGM) is a medical device that tracks and monitors the blood glucose levels of diabetes patients throughout the day. This wearable device will benefit those with diabetes since it can help them manage their glucose levels. Diabetic monitoring equipment includes ketone metres, blood glucose meters, continuous glucose metres, insulin pumps, smart insulin pens, and diabetes management software. Glucose monitoring devices help patients maintain and control their glucose levels, improving their health.
During the projected period, the Europe Diabetes Devices Market is expected to increase at a CAGR of 6.35 %, reaching a total value of 14965 million USD in 2030. Diabetic patients are increasing in Europe because of the rising prevalence of diabetes, the ageing population, bad eating habits, and rising levels of physical inactivity in the region.
Study Period | 2018-2030 | CAGR | 6.35% |
Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
Base Year | 2021 | Base Year Market Size | USD XX Billion |
Forecast Year | 2030 | Forecast Year Market Size | USD 14965 Million |
The Europe Diabetes Devices Market is predicted to be the second largest. Factors such as an increase in the number of diabetic patients and improved awareness about diabetes treatment and control are expected to contribute to market growth over the forecast period. Due to the increased prevalence of diabetes and obesity in the country, Germany dominated the market during the historical era, and this trend is likely to continue during the forecast decade. Diabetes prevalence varies greatly across Europe, with figures ranging from 2.8 percent in Albania to 9.8 percent in Portugal. Diabetes is one of the primary causes of cardiovascular disease, blindness, kidney failure, and lower limb amputation in high-income countries.
In 2021, Germany had the biggest market share of 28.2 percent in the European diabetes care devices market, followed by Russia and France. Test strips have the largest market share in Germany, accounting for more than half of the total market, followed by insulin pens. The German market is large and predicted to expand rapidly throughout the projection period. The diabetes care devices market in Germany will grow in the projected period as the country's diabetes population grows. Germany's diabetes population is currently at 8 million people.
Due to the increased incidence rate of diabetes and obesity in this country, the UK diabetic devices market is predicted to grow significantly in the European market, with roughly 3.8 million people suffering from diabetes. Furthermore, the rise of this region is fuelled by bad eating habits and diets, increased levels of physical activity, and greater access to blood glucose monitoring devices.
France is a significant European country. Diabetes is on the rise in our country, with approximately 3.2 million people diagnosed. The number of people with diabetes is predicted to rise among all ages as a result of rising obesity rates, increased awareness, and increased healthcare spending, which is driving the market in this country.
Countries such as Russia and Italy are known for having large populations with Type 1 diabetes, especially among young individuals.
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The Europe diabetes devices market segment has been categorized by type, distribution channel, and application.
According to type, the diabetes devices market is divided into blood glucose monitoring devices and insulin administration devices. The insulin delivery devices sector is likely to lead the market, with a projected value of USD 30,412.19 million by 2030, representing a 7.62% CAGR over the forecast period.
The expanding number of rules and approvals for technological developments in insulin delivery devices such as insulin pens, insulin pumps, jet injectors, and other devices are some of the key driving factors for demand for insulin delivery devices. The growing acceptability of insulin patches and smart insulin pumps for diabetes self-management is one of the factors boosting demand for insulin delivery devices.
Based on the distribution channel, the diabetic devices market has been divided into hospitals, retail pharmacies, diabetes clinics/centres, internet pharmacies, and others. The retail pharmacies sector is estimated to lead the market, with revenues of USD 11,491.59 million by 2030, representing a CAGR of 6.92 percent over the forecast period. Some of the reasons projected to promote the growth of the retail sales segment over the projection period include the rising penetration of private-label products in retail stores at lower prices.
Based on application, the diabetic devices market has been divided into hospitals, home care, and diagnostic centres. The hospital's category is likely to lead the market, with revenues of USD 19,845.68 million expected by 2030, representing a CAGR of 6.42 percent during the forecast period. Diabetic people are increasingly being admitted to hospitals.
Type 1 diabetes patients had longer hospital stays, a higher death rate, and more complications than type 2 diabetes patients. Type 1 diabetes patients are administered insulin to prevent ketoacidosis, although they have a higher rate of hyperglycemia. As a result, an increase in the number of type 1 diabetes patients in hospitals, as well as an increase in the demand for continuous blood glucose monitoring, are two factors pushing up the demand.
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