The Europe diabetes care devices market is expected to record a CAGR of over 6.5% during the forecast period (2020 - 2025), due to the growing prevalence of diabetes, growing geriatric population levels, unhealthy diet, and increasing levels of physical inactivity. In the European region, Germany dominated the market during the historical period, and the trend is expected to continue during the forecast period, owing to the rising prevalence of diabetes and obesity in the country. According to the Diabetes UK, in the year 2018, there are about 3.8 million people suffer from diabetes in the United Kingdom. Similarly, prevalence is also widely varied across Europe, ranging from 2.8% in Albania to 9.8% in Portugal. In high-income countries, diabetes is one of the leading causes of cardiovascular diseases, blindness, kidney failure, and lower limb amputation.
Key Market Trends
Insulin Delivery Device Holds the Highest Market Share
In Europe Diabetes Care Devices Market, the insulin delivery device segment (management devices) holds the highest market share, i.e., more than 50% than the monitoring devices. This high market share is due to the increase in the number of insulin users among the diabetes population. The prevalence of diabetes is growing among all ages in Europe, which may be attributed to the growing obese population, along with unhealthy diets and sedentary lifestyles of people. Additionally, approximately 2 million people are estimated to suffer from Type-1 diabetes in the region. Countries, such as Russia and Italy, witness a massive number of Type-1 diabetics, especially among the youth population.
Germany Held the Highest Market Share in 2019
In the European diabetes care devices market, Germany held the highest market share of 21.9%, followed by Russia and France in 2019. In the German market, the test strips segment holds the highest market share and accounts for over 50% of the market, followed by insulin pens. The German market is vast and is expected to grow at a high rate during the forecast period. Due to the increasing diabetes population in Germany, the diabetes care devices market increases in the forecast period, currently, the diabetes population in Germany is about 7.9 million and it is expected to increase more than 8 million by 2025.
There have been constant innovations driven by manufacturers to compete in the market. The major players, such as Abbott and Medtronic, resort to inorganic market strategies, such as mergers and acquisitions, to establish market dominance, while also adhering to organic growth strategies, which is evident from the R&D spending of these companies. Omnipod insulin management system is now available for use in Europe, with fiasp fast-acting insulin. The two-part Omnipod system is a tubeless, waterproof insulin pump that simplifies the management of insulin-dependent diabetes. The Omnipod system’s innovative design allows to manage diabetes, with freedom, comfort, and convenience. The small, waterproof pod and the handheld personal diabetes manager communicate wirelessly to deliver continuous insulin based on the patient’s settings.
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