Market Trends of Europe Insulin Syringe Industry
Increasing diabetes prevalence
The diabetes population in the European region is expected to rise by more than 5% over the forecast period.
The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of insulin. Type-1 diabetic patients must check their blood glucose levels regularly, monitor their blood glucose levels, and adjust the insulin dosing accordingly. Insulin syringes are designed for self-injection and offer a reliable solution for insulin injection. An insulin syringe is made of three parts, which consist of a needle, a barrel, and a plunger. Needles are usually short and thin to reduce the pain of injection.
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 launched a diabetes section, enabling diabetes technology companies to work together in the first forum of its kind.
Therefore, owing to the factors above, the studied market is anticipated to grow over the analysis period.
Russia holds the highest market share in the Europe Insulin Syringe Market in the current year
Russia holds the highest market share of more than 51% in the Europe Insulin Syringe Market in the current year.
According to Roscongress, Russia ranks fifth in the world regarding the number of patients with diabetes mellitus aged 20 to 79. The World Health Assembly Resolution recommends the integration of prevention and treatment of diabetes into primary health services, developing pathways for a substantial increase in access to insulin, promoting convergence and harmonizing regulatory requirements for diabetes medicines and technologies, and improving diabetes monitoring and surveillance.
Furthermore, it involves the WHO advising the Member States to ensure the uninterrupted treatment of people living with diabetes in humanitarian emergencies. This important milestone provides a global mandate for diabetes efforts for the next decade.
The roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among people are some market opportunities for the players.
