The glucose monitoring device market in Europe is a very fast-growing market and expected to reach USD 0.66 billion by 2027 from USD 0.50 billion in 2022, hiking at a CAGR of 5.95% between 2022 to 2027. Europe is the 2nd largest market for glucose monitoring devices globally, which can be linked to the rapidly aging population in this region. Germany is leading the European Glucose Monitoring Devices market.
Blood glucose levels can be tested through glucose monitoring devices of several kinds, including glucose meter, testing strips, and lancets. The device offers the facility of self-testing by using a single glucose meter and different strips. These devices consume less time, as compared to glucose testing by customary methods in laboratories.
The devices allow the test to be performed by the patient as per their convenience at their home, making them popular. It offers the services of monitoring glucose levels in our blood as it tests quantitatively. The market is dominated by the glucose monitoring strip devices with xx% share in 2019 and has the highest growth rate.
The increase in the number of diabetes patients is one of the key drivers supporting the growth of the global SMBG devices market. Also, the healthcare expenditure is increasing, which is the direct cause for the increase in the growth of the market of self-monitoring blood glucose devices. However, this market faces certain losses due to some manufacturing defect or error in results. Also, the accessibility of Continuous Glucose Monitors (CGM) hinders the growth of the market.
This research report on the European glucose monitoring device market has been segmented and sub-segmented into the following categories:
By Device Type:
Regionally, continuous glucose monitoring results help patients regulate their food intake, exercise, and medications. The device contains sensors for checking the glucose levels from the interstitial fluid. The sensor has a time span where it can be used in one place and then needs to be replaced. This device monitors the glucose levels over time, allowing the patients to identify low and high sugar levels, which are more dangerous. For the self-monitoring devices, people have to test, and it monitors the level at that particular time and not before that.
Key market players in the European Glucose Monitoring Device Market profiled in this report are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc., AgaMatrix Inc., Arkray Inc., Medtronic, DexCom Inc., Nova Biomedical Corporation, and Terumo Europe NV.
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