Europe holds the third-largest market share in the blood glucose monitoring devices market after the Asia Pacific and North America. Europe is expected to generate revenue of more than USD 5 billion by 2025, registering a CAGR of more than 11%. Diabetes prevalence is continually increasing and checking blood glucose levels regularly with glucose monitoring devices is vital for proper diabetes diagnosis and treatment. People who have diabetes (Type-1 and Type-2) can have improved lives by carefully regulating their blood glucose levels. Owing to the increased patient awareness for glucose monitoring devices, Self-Monitoring Blood Glucose (SMBG) users grew by more than 5% in 2019 from the number of users in 2017.
Key Market Trends
Test Strips accounted for a major market share in 2019
Currently, in the Europe Blood Glucose Monitoring market, test strips account for more than 53% of the market. Test strips impact the patient's costs more because test strips are a continuous expense whereas glucometer device is single time purchase. Although, the CGM is more advanced patients prefer glucometer because CGM is very expensive as compared to glucometer and cost associated with its consumables. Overall, the demand for the blood glucose test strips is projected to witness significant growth, over the forecast period. The growth of the market studied is expected to be spurred by the rising global diabetic population.
Germany dominated the Europe Blood Glucose Monitoring Market in 2019
Germany held a major share of the market in 2019 and is expected to continue to do so in the coming years. It is estimated that Germany will register a CAGR of over 10% during the forecast period. In Germany, close to 10% of people suffer from diabetes, in which the type-2 diabetic population accounts for 98%. Blood glucose monitoring is widely used in developed countries due to high awareness and better reimbursement policies as compared to the developing countries. The self-blood glucose monitoring market recorded the highest sales in Germany and accounted for approximately 84% of the market studied.
The glucometer market is highly fragmented; some of the market players who have high market share are Abbott, Roche, and Johnson and Johnson. The Continuous Glucose Monitoring market, on the other hand, is a highly consolidated market, few players hold more than 70% of the market share in the CGM market.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support