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The Market is Segmented by Monitoring Devices (Self-monitoring Blood Glucose and Continuous Glucose Monitoring) and Management Devices (Insulin Pump, Insulin Syringes, Cartridges in Reusable Pens, Insulin Disposable Pens, and Jet Injectors).
The UK diabetes care devices market is expected to record a CAGR of over 8% during the forecast period (2020-2025), due to the growing prevalence of diabetes, obesity, unhealthy diet, and increasing levels of physical inactivity. It is estimated that almost 3.7 million people are suffering from diabetes in the United Kingdom. There is also a concern that diabetes may be occurring at a greater frequency in youth and in young adults, due to the current lifestyle. Thus, this is increasing the adoption of blood glucose monitoring devices, which may ultimately drive the market studied.
The UK diabetes care devices market is segmented by management devices (insulin pumps, insulin pens, syringes, cartridges, and jet injectors) and monitoring devices (self-monitoring blood glucose and continuous glucose monitoring). The study provides a detailed analysis on the diabetes care devices market in the United Kingdom and includes market share, size, forecast, and industry overview.
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Monitoring devices include self-monitoring blood glucose devices (SMBG) and continuous glucose monitoring devices (CGM), where SMBG devices had the highest share in 2019, with a revenue of USD 0.3 billion. The frequency of monitoring glucose levels depends on the type of diabetes, which varies from patient to patient. Type-1 diabetic patients need to check their blood glucose levels at regular intervals, in order to monitor their blood glucose levels and adjust the insulin dosing accordingly. Therefore, if a patient performs 5-6 tests in a day, the average expenditure on test strips may be more than USD 100/month. These expenses add to the already high costs of diabetes management, and they are impeding market growth. The current CGM devices show a detailed representation of blood glucose patterns and tendencies compared to a routine check of glucose levels at set intervals.
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Insulin pens are the most widely used devices for the administration of insulin in Europe, especially in the United Kingdom. This sub-segment occupies more than 48% of the share in the management devices segment and around 13.7% of share in the overall diabetes care devices market. The administration of insulin through insulin pens ensures an accurate dose of injections, as insulin syringes may not administer precise insulin doses.
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There have been constant innovations driven by manufacturers to compete in the market. The major players, such as Abbott and Medtronic, have undergone many mergers, acquisitions, and partnerships to establish market dominance, while also adhering to organic growth strategies, which is evident from the R&D spending of these companies. The manufacturers of insulin delivery devices are spending a massive amount on the R&D of the devices. For example, Novo Nordisk partnered with Abbott Diabetes Care, which may help enable insulin data to be shared between Novo Nordisk connected insulin pens and digital health tools compatible with the FreeStyle Libre portfolio of products.
1.1 Study Assumptions
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 By Product
5.1.1 By Monitoring Devices, Value and Volume (2012-2025)
18.104.22.168 Self-monitoring Blood Glucose Devices
22.214.171.124.1 Glucometer Devices
126.96.36.199.2 Blood Glucose Test Strips
188.8.131.52 Continuous Glucose Monitoring
5.1.2 By Management Devices, Value and Volume (2012-2025)
184.108.40.206 Insulin Pump
220.127.116.11.1 Insulin Pump Device
18.104.22.168.2 Insulin Pump Reservoir
22.214.171.124.3 Infusion Set
126.96.36.199 Insulin Syringes
188.8.131.52 Cartridges in Reusable Pens
184.108.40.206 Insulin Disposable Pens
220.127.116.11 Jet Injectors
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population (2012-2025)
6.2 Type-2 Diabetes Population (2012-2025)
7. COMPETITIVE LANDSCAPE
7.1 Company profiles
7.1.3 Johnson & Johnson
7.1.6 ARKRAY Inc.
7.1.7 Ascensia Diabetes Care
7.1.9 Bionime Corporation
7.1.10 Novo Nordisk
7.1.11 Eli Lilly
7.1.13 Rossmax International Ltd
8. MARKET OPPORTUNITIES AND FUTURE TRENDS