The Diabetes Devices Market size in Europe was worth USD 5.73 billion in 2023 and is forecasted to reach USD 7.44 billion by 2028, at a CAGR of 5.38% during the forecast period from 2023 to 2028. Diabetes is a group of metabolic disorders, a chronic condition associated with an abnormally high sugar level (glucose) in the blood. Europe currently witnesses 59.8 million people affected with Diabetes, which will reach 71.1 million by 2040.
In Europe, the market is driven by a sudden rise in the number of people affected with Diabetes and high investments in R & D. Also, with increasing awareness among the patients, there is quite a hike in demand for diabetes devices.
Due to the reimbursement and patent expiry issues, the market growth in Europe is constrained. Rules governing healthcare reimbursement keep frequently changing, with government payers sometimes turning 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.
This research report on the Europe Diabetes Devices Market has been segmented and sub-segmented into the following categories:
Regionally, it is the second-largest market share contributor in the Global Diabetes Devices Market following North America, with several market revenue-creating companies based in Europe. In Europe, the REACTION project aims to address new care models for diabetes management through various clinical applications, such as monitoring 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. 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 companies' devices' investments, due to which there is commendable growth in the European Diabetes Care Devices market.
The German diabetic devices market is projected to play a dominating role in the European market during the forecast period because of the well-organized healthcare domain, availability of advanced treatment options available in the country with nearly 9.0 million, which increases the number of diabetic cases in this country. In this country, the diabetic population is 7.9 million and is estimated to surge up to more than 8 million by 2025.
The UK diabetic devices market is expected to account second leading position in the European market due to the rising incidence rate of diabetes and obesity in this country, which is nearly 3.8 million suffering from diabetes in the UK. Moreover, unhealthy food habits and diet and growing levels of physical activity, and increasing the obtainment of blood glucose monitoring devices drive the growth of this region.
France is one of the major countries in Europe. In this country, the frequent increase in diabetes of diabetes is nearly about 3.2 million. This person with diabetes is expected to grow among all ages due to the increasing obesity population, increasing consciousness, the amount spent on healthcare is driving the market in this country.
Countries like Russia and Italy are followed to have many enormous numbers of Type-1 diabetes, particularly among young people.
Major companies dominating most of the European Diabetes Devices Market are Roche Diagnostics, Johnson & Johnson, Abbott Laboratories, Novo Nordisk, Ascensia, Tandem, and Terumo.
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