Market Size of Europe Insulin Syringe Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 111.88 Million |
| Market Size (2029) | USD 118.76 Million |
| CAGR (2024 - 2029) | 1.20 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Insulin Syringe Market Analysis
The Europe Insulin Syringe Market size is estimated at USD 111.88 million in 2024, and is expected to reach USD 118.76 million by 2029, growing at a CAGR of 1.20% during the forecast period (2024-2029).
European countries are suffering from the burden of high diabetes expenditure due to its rising prevalence. In high-income countries, diabetes is one of the leading causes of cardiovascular diseases, blindness, kidney failure, and lower limb amputation. Technological advancements have increased over the period in Diabetes care devices for safer and more accurate administration of insulin. A needle and syringe are a common and cost-effective way for many people to take insulin. Approximately 10% of the total diabetes population is having type-1 diabetes and approximately out of this 10% of people only 80-90% use Insulin delivery devices but the usage of insulin is rising from time to time, even type-2 diabetes patients are using the insulin devices.
According to the IDF report, about 1 in 11 adults contain diabetes in Europe, accounting for approximately 61 million. These figures indicate that approximately 19.6% of global expenditure is spent on diabetes in Europe. Every year 21,600 children are added to the type-1 diabetic population pool. The European region witnessed an alarming increase in the prevalence of diabetes in recent years. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as oral anti-diabetic medication or ingestion of additional carbohydrates by monitoring their blood glucose levels.
According to IDF, to reduce the diabetes epidemic in the country, the Russian government needs to fully implement a National Diabetes Plan that establishes a state budget and guarantees diabetes care to all Russian citizens. Russia is working towards improving the reimbursement system for all aspects of diabetes care, limiting out-of-pocket payments, and preventing households from incurring catastrophic expenditures. Also, implementing a national screening program to improve the early identification of disturbed carbohydrate metabolism and creating a specialized diabetes health service under the Ministry of Health of the Russian Federation.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
