As per our report, the size of the insulin delivery devices market in Europe is estimated to value USD 5.35 billion by 2027 from USD 3.97 billion in 2022, registering a growth rate of 6.17% from 2022 to 2027.
The insulin delivery devices market in the European region is majorly driven by the growing number of diabetes patients and government support through funding and development in healthcare facilities. There are 67 million people caused by diabetes due to changing lifestyles, obesity, and consuming an unhealthy diet. According to the World Health Organization (WHO), an estimated 30-70% of adults are overweight, affecting 10-30% of adults in Europe. Therefore, the government has taken the initiative to arrange new programs that create awareness about delivery devices.
However, limited usage of the insulin pump, restricted access to healthcare, and availability of high-cost management in Europe are majorly challenging the insulin delivery devices market. Sometimes, the abnormal insulin dose is very harmful to patients, hindering the insulin delivery market in Europe. Also, the devices are not used for children who are less than 18 years. The number of insulin delivery devices that use short-acting insulin; is a big challenge for the market.
This research report on the Europe Insulin Delivery Devices Market has been segmented and sub-segmented into the following categories:
In Europe, Germany was leading the European insulin delivery devices market in 2019. Technological developments and the Government of Germany's taken initiatives to create awareness of insulin delivery devices among people are the factors primarily driving the market's growth in this country. In addition, in 2019, Medtronic had an agreement with Germany's statutory health insurance to provide a MiniMed 670G hybrid closed-loop insulin pump for the treatment of type 1 diabetes.
UK insulin delivery devices market is expected to grow at the fastest growth rate during the forecast period. Around 4 million people have type 1 diabetes, and 549000 people were diagnosed in the UK in 2019. Recently, Insulet Corp has developed a new Omnipol DASH insulin pump in the UK that can manage insulin instead of a daily multiple injector system.
An increasing geriatric population and type 1 diabetes patients in France enhance the demand for insulin delivery devices. The French start-up more funding in research and development activities to develop a hybrid loop system to manage glucose levels and maintain type 1 diabetes.
Italy has more than 2 million patients with type 2 diabetes, and they accelerate the growth of insulin delivery devices in the market. National congress Italian society metabolism diabetes obesity has announced introducing a V-Go wearable insulin delivery device to treat type 2 diabetes.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Europe Insulin Delivery Devices Market profiled in this report are Becton, Dickinson, and Company (U.S.), Sanofi (France), Novo Nordisk A/S (Denmark), Julphar (U.A.E.), Eli Lilly and Company (U.S.), Biocon Ltd. (India), Ypsomed AG (Switzerland), Wockhardt Ltd. (India), B. Braun Meselgen AG (Switzerland) and Biodel Inc. (U.S.).
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