Increasing number of baby boomers and rising number of people diabetic cases will act as primary driver for growth of Europe self-monitoring blood glucose devices market over the forecast timeframe. According to the Graphical Research new growth forecast report titled “Europe Self-Monitoring Blood Glucose Devices Market analysis based on Product, End-User, Industry Analysis Report, Regional Outlook, End-User Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 6.5 billion by 2024. High adoption of sedentary lifestyle along with unhealthy food habits has escalated number of people suffering from chronic conditions such as cardiovascular diseases and obesity. Majority of obese people suffer from type 2 diabetes thereby fueling industry size growth.
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Growth of home healthcare sector and technological advancements in homecare SMBG devices has stimulated adoption rate. Moreover, growing demand for minimal invasive disease monitoring tools coupled with rising number of health-conscious people will stimulate growth of home healthcare self-monitoring blood glucose devices market.
Presence of associations such as Primary Care Diabetes Society creating awareness about the target disease to promote adoption of diabetes monitoring tools will positively impact industry growth over the coming years. However, stringent regulations pertaining to development of SMBG devices and high cost associated with self-monitoring blood glucose monitors will hinder industry expansion to a certain extent over the forecast period.
Continuous glucose monitors (CGM) product segment is anticipated to witness robust growth of 5.6% during the forecast period. These devices form an essential part of homecare diabetes monitoring as it delivers real time blood glucose readings as well as detects abnormal patterns of glycemia many folds better than conventional systems will drive business growth of CGM devices.
Diagnostic centers and clinics end-user segment of Europe self-monitoring blood glucose devices market is forecasted to witness considerable growth owing to rising number of people suffering from abnormal blood glucose levels and growing awareness about diabetes and diabetic treatment. Increasing per capita healthcare expenditure will positively impact growth of diagnostic centers and clinics segment.
UK self-monitoring blood glucose devices market will witness 4.3% CAGR during the forecast period owing to technological advancements in SMBG devices and high technological adoption in the country. Growing demand for self-diabetes monitoring devices applicable to homecare setting as well as growing geriatric population base will fuel industry growth over the coming years.
Few notable industry players operating in Europe self-monitoring blood glucose devices market are Abbott Laboratories, All Medicus, Arkray, B. Braun Melsungen AG, Bayer Healthcare, Bionime Corporation, Dexcom, F. Hoffmann-La Roche, Johnson & Johnson, LifeScan, Medtronic, Nipro Diagnostics, Nova Biomedical, Sinocare and Trividia Health. Market players are focusing on new product development to gain significant market position and broaden product as well as costumer portfolio in the self-monitoring blood glucose devices industry.
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Chapter 1. Methodology
1.2. Market definitions
1.3. Forecast parameters
1.4. Data sources
188.8.131.52. Paid sources
184.108.40.206. Unpaid sources
Chapter 2. Executive Summary
2.1. Europe self-monitoring blood glucose devices industry 3600 synopsis, 2013 – 2024
Chapter 3. Europe Self-Monitoring Blood Glucose Devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
220.127.116.11. Rising prevalence of diabetes in Europe
18.104.22.168. Technological advancement in SMBG devices
22.214.171.124. Government initiatives for increasing awareness among people
3.3.2. Industry pitfalls & challenges
126.96.36.199. High cost associated with SMBG devices and accessories
188.8.131.52. Lack of reimbursement & stringent regulations for SMBG devices
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By end-user
3.5. Competitive landscape, 2017
3.5.1. Strategy dashboard
3.6. Porter’s analysis
3.7. PESTEL analysis
Browse key industry insights along with TOC @ https://www.graphicalresearch.com/table-of-content/1020/europe-self-monitoring-blood-glucose-devices-market
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