Published Date: 2021-03-09
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European Digital Diabetes Management Market size is anticipated to cross USD 14 billion by 2027, according to a latest forecast report by Graphical Research. Increasing incidence of diabetes and rising number of product launches will influence the market growth.
Increasing prevalence of diabetes and growing awareness about diabetes management & control are among the key factors contributing to the European digital diabetes management market revenue. According to the International Diabetes Federation, there were more than 36 million people were living with impaired glucose tolerance in Europe in 2019. The incidence of diabetes is increasing in Europe, due to unhealthy diet, physical inactivity, and obesity. Furthermore, presence of major players in region and speedy FDA approval will stimulate market expansion.
Rising healthcare expenditure to diabetes in Europe coupled with rapid technological advancement are the factors contributing to the market growth. In addition, availability of better insurance coverage and supportive health insurance policies by government will also aid in market size.
Devices segment is estimated to observe a growth rate of 18.5% between 2021 and 2027. Technological advancements and implementation of government awareness campaigns will also boost the segment demand. For instance, in October 2018, an online learning zone launched by Diabetes UK to help people in managing and understand their diabetes. Thus, such initiatives will spread awareness among people regarding the usage of diabetes devices.
Browse detailed statistical insights from the report, “European Digital Diabetes Management Market Size By Device Type [Wearable, Handheld], Services {Diabetes Apps, Software}), By Product Type (Devices {Smart Glucose Meters, CGM, Insulin Pumps & Patches, Insulin Pens}, By Patient Type (Type 1, Type 2), By End-use (Hospitals, Home Settings, Diagnostic Centers & Clinics), Research Report, Country Outlook (Germany, UK, France, Spain, Italy, Russia, Ukraine, Poland, Switzerland, Belgium, Greece, Czech Republic), Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1649/europe-digital-diabetes-management-market
Type 2 diabetes patients’ segment is projected to register 18.4% growth from 2021 to 2027 led by presence of growing type 2 patient pool and increasing use of diabetes devices and services. Moreover, increasing number of undiagnosed type 2 diabetes patients in the region will augment the market size.
Hospitals segment held around USD 1.3 billion revenue in 2020. Presence of large geriatric population and increasing use of digital diabetes devices & services among aged population are contributing to the segment growth. According to the Eurostat, in 2019, more than 20% of EU-27 population was aged 65 years and over.
UK digital diabetes management market size exceeded USD 415 million in 2020. Increasing number of diabetes cases coupled with favorable reimbursement policies will spur customer adoption. According to the International Diabetes Federation, there were more than 2.6 million adults were living with diabetes in 2019. Moreover, rising healthcare expenditure to diabetes is also adding growth to the market. The total healthcare expenditure to diabetes has risen from USD 7,647.9 million in 2010 to USD 14,081.6 million.
Major industry players are 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. These market players are undertaking various market strategies initiative such as mergers and acquisitions, technological collaboration, license & partnership, and product innovation. Furthermore, growing FDA approvals and favorable reimbursement policies are increasing product launches. For instance, in February 2020, Dexcom received European approval for its G6 CGM system.
European digital diabetes management market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:
Europe Market, By Product Type, 2016-2027 (USD Million)
By device
By device type
Europe Market, By Patient Type, 2016-2027 (USD Million)
Europe Market, By End-use, 2016 – 2027 (USD Million)
The above information has been provided for the following countries:
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