Europe Glucose Monitoring Devices Market
The market of glucose monitoring devices is highly vibrant. The Europe glucose monitoring devices market is expected to reach USD XXmillion by 2022 from USD XXmillion in 2016, at a CAGR of XX%. In the European Union, about Euro93 billion were lost due to the direct and indirect costs linked to diabetes. This increased spending is putting pressure on government to take the steps essential to keep the disease in check and avoid complications in order to ensure that these losses are kept to a minimum. This is expected to help boost the sales of blood glucose meters, as keeping a check on blood glucose will help patients in managing their diabetes, thereby reducing the risk of developing complications.
In Europe, the prevalence of diabetes is on a rise among all ages. As estimated by WHO, there are about 60 million people with diabetes in European region which include about 10.3% of men and 9.6% of women of or above age 25. The International Diabetes Federation has estimated that the diabetics number will rise from 33 million in 2010 to 38 million in 2030. Moreover, such patients are at a potential risk of having multiple associated chronic and life threatening diseases. This has led to a rise in awareness about continuous monitoring of blood glucose level. With rising awareness for better health and education regarding blood glucose level, this factor majorly drives the growth of glucose monitoring devices market in Europe.
There are several factors limiting the growth of this industry such as reimbursements policies and accuracy of devices. The accessibility to Continuous Glucose Monitors (CGM) is limited in certain countries and market faces losses due to manufacturing defects and errors in results therefore traditional methods are still in market for calibration and taking corrective actions. In Europe, the manufacturers faces a lot difficulty due to different health care system in every country of Europe making the cost of CGM reimbursement vary accordingly.
The market is segmented based on self-monitoring devices and continuous monitoring devices. Self-monitoring devices are further segmented into blood glucose meters, blood glucose strips, lancets, and others. The glucose monitoring strip market has the largest market size. However, recent technological innovations have seen the growth of the continuous glucose monitoring (CGM) devices. It is segmented into sensors, transmitters and activators, insulin pumps and others. The sensors, owing to their small life cycle, have the highest demand and also account for the highest market share. These both segments find their applications in hospitals, diagnostics, home settings and others. Regionally, the market is segmented into France, Germany, United Kingdom, Italy, Spain and Rest of Europe.
Some of the key players in this market include –
Accruex Biomedical Pvt Ltd, Apex Biotechnology Corp, Dexcom Inc, F. Hoffmann-La Roche Ag, Lifescan Inc, Medtronic Diabetes, Teco Diagnostics, Ypsomed Ag, Abbott Laboratories, Agamatrix Inc And Others
Market analysis for the market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers, restraints opportunities and challenges.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information.
Identification and analysis of the macro and micro factors that affect the Europe Glucose Monitoring Devices Market.
Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.