Market Size of Europe Diabetes Care Devices Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 8.03 Billion |
| Market Size (2029) | USD 10.84 Billion |
| CAGR (2024 - 2029) | 6.18 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Diabetes Care Devices Market Analysis
The Europe Diabetes Care Devices Market size is estimated at USD 8.03 billion in 2024, and is expected to reach USD 10.84 billion by 2029, growing at a CAGR of 6.18% during the forecast period (2024-2029).
The European countries are suffering from the burden of high diabetes expenditure due to its rising prevalence. Technological advancements have increased over the period in Diabetes care devices for safer and more accurate administration of insulin. Medtronic launched its first integrated smart insulin pen. The Medtronic Integrated Insulin Pen provides real-time glucose readings of patients along with insulin dose information to manage their glucose levels.
According to IDF, every year, 21,600 children are added to the type-1 diabetic population pool. These figures indicate that approximately 9% of the total healthcare expenditure is spent on diabetes in Europe. Various initiatives by the Government, such as the National Service Framework (NSF) program in the United Kingdom, are improving services by setting national standards to drive up service quality and tackle variations in care.
The Association of British HealthTech Industries (ABHI) launched a diabetes section, enabling diabetes technology companies to work together in the first forum of its kind. The ABHI group is for any health technology company interested in diabetes care, from CGM and insulin pumps to apps.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
