The European Diabetes Care Devices Market has been estimated at USD 4.616 billion in 2015 and is projected to reach USD 5.999 billion by 2020, at a CAGR of 5.38% during the forecast period from 2015 to 2020.Diabetes is a group of metabolic disorders, chronic condition which is associated with abnormally high level of sugar (glucose) in the blood. Europe currently witnesses 59.8 million people affected with Diabetes which is going to reach 71.1 million by 2040.
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In Europe, the market is driven by a sudden rise in the number of people affected with diabetes and with high investments in R & D. Also, with an increasing awareness among the patients, there is quite a hike in the demand for diabetes care devices. Due to the reimbursement and patent expiry issues, the market growth in Europe is constrained. Rules governing healthcare reimbursement keeps changing frequently, with government payers sometimes changing on a day-to-day basis. This complexity can make it very difficult for practices to understand payer rules, keep up with changes to those rules. With such problems prevalent, there is a high risk of losing customers due to which there could be a significant drop in the market growth in Europe.
In Europe, the diabetes care device market is segmented by type and by country. By type the market has been segmented in to Insulin delivery devices, Diabetes monitoring devices and Diabetes Control Solutions. The products in each of these segments are segregated in the following way: Diabetes Monitoring Devices (Self-blood Monitoring Devices: Blood Glucose Monitoring Devices, Test Strips, Lancets and Hemoglobin A1c Testing Kits; Continuous Glucose Monitoring Devices); Insulin Delivery Devices (Insulin Pens, Insulin Pumps, Jet Injectors and Insulin Syringes) and Diabetes Control Solutions.
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Geographically, Europe is divide into Germany, UK, France, Italy and Rest of Europe. It is the second largest market share contributor in the world following North America, with a number of market revenue creating companies based in Europe. The REACTION project in Europe, aims to address new care models for diabetes management through various clinical applications, such as monitoring of vital signs, feedback provision to the point of care, integrative risk assessment, event, and alarm handling. With such projects already in progress, there is a lot of scope for market growth in this region. Government policies and subsidies play a vital role in the growth of the market. With the increasing policies, there is a significant rise in the investments on the devices by the companies, due to which there is a commendable growth in the European Diabetes Care Devices market.
Roche Diagnostics, Ascensia, Abbott Laboratories, Novo Nordisk, Johnson & Johnson, Tandem and Terumo are the top companies in European Diabetes Care Devices Market.
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