Europe Digital Diabetes Management Market size exceeded USD 3,566 million in 2020 and is estimated to witness over 18.4% CAGR from 2021 to 2027.
Digital diabetes management solutions include devices and services that encompass health information technology, mobile health, personalized diabetes solution, wearable devices, and connected technology. Digital diabetology includes technology capable of providing accurate, individualized, and evidence-based solution for people living with diabetes. Thus, with increasing diabetes population base coupled with growing emergence of digital health in Europe.
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Increasing adoption of novel technologies in diabetes space and continuous technological collaboration are the factors contributing to the European digital diabetes management industry growth. The introduction of connected technologies in diabetes space has increased efficiency, improved access, and personalized medicine. Digital diabetology allows seamless transfer of data from various insulin delivery and monitoring devices pertaining to data on physical activity, lifestyle diary entries, and food. Thus, the integration of diagnostic, monitoring, and informative aspect of diabetes has created better avenues for the market.
Presence of large diabetes population coupled with rising geriatric population are contributing to the market growth. According to the International Diabetes Federation, there were more than 59 million adults living with diabetes in 2019. Furthermore, increasing number of product launches coupled with speedy FDA approval are the factors boosting the market. For instance, in December 2019, Roche received CE mark approval for Sugar View app in Europe. The app will provide blood glucose ranges by taking photos with the smart phone, thereby facilitating better customer satisfaction.
In devices segment, smart insulin pen is predicted to expand at 20.4% CAGR during the forecast period. High segment growth rate is primarily due to increasing number of products launches and continuous technological collaborations. Moreover, growing number of newer firms in the market will augment the industry growth.
Type 1 diabetes patient segment accounted for considerable Europe digital diabetes management market share in 2020. Rising adoption of smart devices and increasing insulin dependency are the major factors contributing to the market growth. Furthermore, type 1 diabetes patients require continuous monitoring of insulin. Thus, with expanding patient pool suffering from type 1 diabetes mellitus, the demand for digital diabetes devices and solutions will expand in future.
The homecare settings accounted for USD 1.2 billion in 2020. Increasing awareness about diabetes preventive care and self-management of diabetes are creating demand for diabetes care devices. In addition, rising geriatric population and significant improvement in interface of advanced diabetes products also contributes to the market growth.
Germany market for digital diabetes management held over 19% revenue share in 2020. According to the International Diabetes Federation, there were more than 9.5 million people in Germany were living with diabetes in 2019. Furthermore, increasing healthcare expenditure to diabetes is also boosting the market growth. The total diabetes-related health expenditure was USD 43,775 in 2019 in Germany. In addition, presence of major players in the industry and availability of advance diabetes products are the factors contributing to the market growth.
Few of the established industry players include Abbott Laboratories, Medtronic Plc, Insulet Corporation, F.Hoffmann-LA Roche Ltd., Dexcom, Inc., Companion Medical, Ypsomed, Tandem Diabetes, and Glooko, Inc, among several others.
The players in the industry are continuously innovating their products and involved in technological collaboration. Moreover, speedy FDA approval and favourable reimbursement policies in the region are the factors contributing to the market growth. For instance, in September 2020, Medtronic announced reimbursement for MiniMed 670G hybrid closed loop insulin pump in Germany. Thus, the aforementioned factors are expected to boost the demand for the market.