Europe Self-monitoring Blood Glucose Device Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 3.14 Billion |
| Market Size (2029) | USD 4.29 Billion |
| CAGR (2024 - 2029) | 6.38 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Self-monitoring Blood Glucose Device Market Analysis
The Europe Self-monitoring Blood Glucose Devices Market size is estimated at USD 3.14 billion in 2024, and is expected to reach USD 4.29 billion by 2029, growing at a CAGR of 6.38% during the forecast period (2024-2029).
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 measurement of blood glucose levels.
According to the IDF report, about 1 in 11 adults in Europe had diabetes, which accounted for approximately 61 million. These figures indicated that approximately 19.6% of global expenditures were spent on diabetes in Europe. Every year, 21,600 children are added to the type-1 diabetic population pool. The European region has witnessed an alarming increase in the prevalence of diabetes in recent years. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as oral anti-diabetic medication or the ingestion of additional carbohydrates, by monitoring their blood glucose levels.
According to the German Diabetes Center (DDZ), about 8.5 million people in Germany are affected by diabetes. The number of people with type-2 diabetes in Germany will continue to increase over the next twenty years. Researchers at DDZ estimate that up to 12 million people might suffer from metabolic disorders in 2040.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Europe Self-monitoring Blood Glucose Device Market Trends
Increasing Diabetes Prevalence is Driving the Europe self-monitoring Blood Glucose Devices Market in forecast period
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, an 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 need to check their blood glucose levels at regular intervals, monitor their blood glucose levels, and adjust the insulin dosing accordingly. Innovative technologies, such as digital health apps that display and summarize individual blood glucose measurements and incorporate additional relevant data such as insulin doses, meals and snacks, and physical activity, can further support self-management while decreasing disease burden and benefiting overall diabetes care.
Integration of blood glucose monitoring with insulin calculators, automated insulin titration software, and remote coaching are further developments that provide patients with poorly controlled diabetes with the additional support needed to improve critical outcomes, thereby enhancing market prospects in the years to come.
The government, along with the companies, are working towards better diabetes management. For instance, the National Service Framework (NSF) program is 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.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period.
Germany is expected to dominate the European Self-monitoring Blood Glucose Devices Market over the forecast period
Germany is expected to dominate the European self-monitoring blood glucose devices market and register the highest CAGR of about 6.9% over the forecast period.
According to the European Observatory on Health Systems and Policies, Germany had the oldest social health insurance (SHI) system in the world. Health insurance is compulsory; people with an income above a fixed threshold or belonging to a particular professional group can opt out of SHI coverage and enroll in private health insurance (PHI). About 11% of the population is covered by PHI and 89% by SHI. Although coverage is universal for all legal residents, only 0.1% of the population does not have health insurance.
Various innovations in self-monitoring blood glucose device components are likely to increase the adoption of such devices. Lancets are typically used in blood glucose monitoring to draw out a small amount of blood from the patient for testing of glucose levels. The blood sample is dropped onto a test strip and inserted into a blood glucose meter for results. Various innovations in lancing devices offer a convenient way to draw blood samples.
For example, Accu-Check FastClix has a preloaded lancet drum, so a person can load six lancets at a time rather than replacing the lancets after every use. The Accu-Chek FastClix also has a lever and a counter, so the user can easily move to the next lancet and see how many are left in the drum. Accu-Chek states that this model has 11 depth settings. There is also a locking system to prevent lancing accidents. The Accu-Chek FastClix comes with 102 lancets.
The aforementioned factors are anticipated to drive market growth over the analysis period.
Europe Self-monitoring Blood Glucose Device Industry Overview
The European self-monitoring blood glucose devices market is fragmented, with a few major manufacturers having a global market presence and occupying a major share, like Abbott, LifeScan, Roche, Ascensia, etc., while the rest are confined to other local or region-specific manufacturers.
Europe Self-monitoring Blood Glucose Device Market Leaders
Abbott Diabetes Care
Roche Diabetes Care
Arkray Inc.
Ascensia Diabetes Care
Lifescan Inc.
*Disclaimer: Major Players sorted in no particular order
Europe Self-monitoring Blood Glucose Device Market News
- January 2023: LifeScan announced that the peer-reviewed Journal of Diabetes Science and Technology published improved glycemic control using a Bluetooth-connected blood glucose meter and a mobile diabetes app: Real-World Evidence from over 144,000 people with diabetes, detailing results from a retrospective analysis of real-world data from over 144,000 people with diabetes-one of the largest combined blood glucose meter and mobile diabetes app datasets ever published.
- January 2022: Roche launched its new point-of-care blood glucose monitor designed for hospital professionals, with a companion device shaped like a touchscreen smartphone that will run its own apps. The hand-held Cobas pulse includes an automated glucose test strip reader as well as a camera and touchscreen for logging other diagnostic results. It's designed to be used with patients of all ages, including neonates and people in intensive care.
Europe Self-monitoring Blood Glucose Device Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component
5.1.1 Glucometer Devices
5.1.2 Test Strips
5.1.3 Lancets
5.2 Geography
5.2.1 France
5.2.2 Germany
5.2.3 Italy
5.2.4 Rest of Europe
5.2.5 Russia
5.2.6 Spain
5.2.7 United Kingdom
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott Diabetes Care
7.1.2 Roche Diabetes Care
7.1.3 LifeScan
7.1.4 Arkray
7.1.5 Ascensia Diabetes Care
7.1.6 Agamatrix
7.1.7 Bionime Corporation
7.1.8 Acon
7.1.9 Medisana
7.1.10 Trivida
7.1.11 Rossmax International
- *List Not Exhaustive
7.2 Company Share Analysis
7.2.1 Abbott Diabetes Care
7.2.2 LifeScan
7.2.3 Roche Diabetes Care
7.2.4 Other Company Share Analyses
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Europe Self-monitoring Blood Glucose Device Industry Segmentation
Self-monitoring of blood glucose is an approach used by diabetic patients to measure their blood sugar level using a glucometer, test strips, and lancets. Based on the readings, patients can adjust or check the effect of their treatment. The European self-monitoring blood glucose device market is segmented into components and geography . The report offers the value (in USD) and volume (in units) for the above segments.
| Component | |
| Glucometer Devices | |
| Test Strips | |
| Lancets |
| Geography | |
| France | |
| Germany | |
| Italy | |
| Rest of Europe | |
| Russia | |
| Spain | |
| United Kingdom |
Europe Self-monitoring Blood Glucose Device Market Research FAQs
How big is the Europe Self-monitoring Blood Glucose Devices Market?
The Europe Self-monitoring Blood Glucose Devices Market size is expected to reach USD 3.14 billion in 2024 and grow at a CAGR of 6.38% to reach USD 4.29 billion by 2029.
What is the current Europe Self-monitoring Blood Glucose Devices Market size?
In 2024, the Europe Self-monitoring Blood Glucose Devices Market size is expected to reach USD 3.14 billion.
Who are the key players in Europe Self-monitoring Blood Glucose Devices Market?
Abbott Diabetes Care, Roche Diabetes Care, Arkray Inc., Ascensia Diabetes Care and Lifescan Inc. are the major companies operating in the Europe Self-monitoring Blood Glucose Devices Market.
What years does this Europe Self-monitoring Blood Glucose Devices Market cover, and what was the market size in 2023?
In 2023, the Europe Self-monitoring Blood Glucose Devices Market size was estimated at USD 2.94 billion. The report covers the Europe Self-monitoring Blood Glucose Devices Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Self-monitoring Blood Glucose Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Blood Glucose Monitoring Industry Report
Statistics for the 2024 Europe Blood Glucose Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Blood Glucose Monitoring analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
