The Europe diabetes care devices market is expected to reach US$ 11,184.6 Mn in 2027 from US$ 6,853.3 Mn in 2018. The market is estimated to grow with a CAGR of 5.7% from 2019-2027.
The growth of the market is driven by the factors such as, rising incidence of diabetes and rising adoption of insulin injection pens over traditional syringes and vials. However, the market is likely to get impacted due to availability of alternatives for drug delivery and reuse of pen needles in the region.
Diabetes is a life-threatening chronic disease with no specialized cure. It is mainly caused by the body’s inability to produce or effectively utilize the hormone insulin. This inability prevents the body from adequately regulating blood glucose levels. There are two types of diabetes namely diabetes type-I also known as diabetes insipidus and diabetes type-II also termed as diabetes mellitus. Incidences and prevalence of diabetes is steadily increasing across the globe. Type 2 diabetes is the most prevalent form of diabetes and has increased alongside cultural and societal changes. In high-income countries up to 91% of adults with the disease have type 2 diabetes. According to International Diabetes Federation (IDF), approximately 425 million people were living with diabetes in 2017and it is expected to reach 629 million by 2045 across the globe.
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Diabetes of all types can lead to various complications in many parts of the body and can increase the overall risk of premature death. Heart attack, stroke, kidney failure, leg amputation, vision loss and nerve damage are the major complications associated with this disease. Patients suffering from diabetes require frequent monitoring and external administration of insulin. The rising prevalence of diabetes across the globe is expected to drive the growth of the insulin delivery devices market worldwide during the forecast period.
Germany is expected to lead the market in the Europe region owing to rising prevalence of the diabetes and support by the government in the country. In addition, the government in Germany are putting their efforts to improve the conditions for the people suffering from the diabetes. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the Europe region during the forecast period.
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EUROPE DIABETES CARE DEVICES – MARKET SEGMENTATION
- Glucose Monitoring Devices
- Testing Strips
- Other Glucose Monitoring Devices
- Insulin Delivery Devices
- Insulin Pens
- Insulin Syringes
- Insulin Pumps
- Other Insulin Delivery Devices
By End User
- Hospitals & Clinics
- Rest of Europe
- Novo Nordisk A/S
- B. Braun Melsungen AG
- Insulet Corporation
- Tandem Diabetes Care, Inc.
- Eli Lilly and Company
- Dexcom, Inc.
- Terumo Corporation
- F. Hoffman-LA Roche Ltd.
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