Market Trends of Europe Self-monitoring Blood Glucose Devices Industry
Increasing Diabetes Prevalence is Driving the Europe self-monitoring Blood Glucose Devices Market in forecast period
The diabetes population in the European region is expected to rise by more than 5% over the forecast period.
The rate of newly diagnosed type-1 and type-2 diabetes cases is seen to increase, mainly due to obesity, an unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of insulin.
Type-1 diabetic patients need to check their blood glucose levels at regular intervals, monitor their blood glucose levels, and adjust the insulin dosing accordingly. Innovative technologies, such as digital health apps that display and summarize individual blood glucose measurements and incorporate additional relevant data such as insulin doses, meals and snacks, and physical activity, can further support self-management while decreasing disease burden and benefiting overall diabetes care.
Integration of blood glucose monitoring with insulin calculators, automated insulin titration software, and remote coaching are further developments that provide patients with poorly controlled diabetes with the additional support needed to improve critical outcomes, thereby enhancing market prospects in the years to come.
The government, along with the companies, are working towards better diabetes management. For instance, the National Service Framework (NSF) program is improving services by setting national standards to drive up service quality and tackle variations in care. The Association of British HealthTech Industries (ABHI) launched a diabetes section, enabling diabetes technology companies to work together in the first forum of its kind.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period.
Germany is expected to dominate the European Self-monitoring Blood Glucose Devices Market over the forecast period
Germany is expected to dominate the European self-monitoring blood glucose devices market and register the highest CAGR of about 6.9% over the forecast period.
According to the European Observatory on Health Systems and Policies, Germany had the oldest social health insurance (SHI) system in the world. Health insurance is compulsory; people with an income above a fixed threshold or belonging to a particular professional group can opt out of SHI coverage and enroll in private health insurance (PHI). About 11% of the population is covered by PHI and 89% by SHI. Although coverage is universal for all legal residents, only 0.1% of the population does not have health insurance.
Various innovations in self-monitoring blood glucose device components are likely to increase the adoption of such devices. Lancets are typically used in blood glucose monitoring to draw out a small amount of blood from the patient for testing of glucose levels. The blood sample is dropped onto a test strip and inserted into a blood glucose meter for results. Various innovations in lancing devices offer a convenient way to draw blood samples.
For example, Accu-Check FastClix has a preloaded lancet drum, so a person can load six lancets at a time rather than replacing the lancets after every use. The Accu-Chek FastClix also has a lever and a counter, so the user can easily move to the next lancet and see how many are left in the drum. Accu-Chek states that this model has 11 depth settings. There is also a locking system to prevent lancing accidents. The Accu-Chek FastClix comes with 102 lancets.
The aforementioned factors are anticipated to drive market growth over the analysis period.
