Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Europe Self-Monitoring Blood Glucose Devices Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive analysis on the Europe Self-monitoring Blood Glucose Devices Market has been added to our extensive research repository. The report provides a thorough examination of the market dynamics, including growth prospects and influential trends shaping the industry's future from 2023 through 2028.
The comprehensive study reveals that the European market for self-monitoring blood glucose devices is currently valued at USD 2.95 billion and is forecasted to escalate to an approximate valuation of USD 4.03 billion by 2028, progressing at a compounded annual growth rate (CAGR) of 6.38%. Highlighting significant growth potential, the market value is also expected to reach around USD 3.8 billion by 2027.
An in-depth impact analysis suggests that the COVID-19 pandemic has had a profound effect on the market, with increasing demands among diabetes patients for accurate glucose monitoring to manage potential complications related to the virus. This situation has prompted medical device manufacturers and healthcare authorities to ensure continuity in the supply chain and accessibility of vital diabetes care products.
Key Market Drivers
- Government and Corporate Initiatives: Legislative frameworks and healthcare industry initiatives play a leading role in driving the demand and innovation in the European self-monitoring blood glucose devices market.
- Technological Advancements: Innovations in device components have spurred the market growth, with new features offering a higher level of convenience and accuracy in self-monitoring of blood glucose levels.
Germany at the Forefront of Market Expansion
In an extensive country-wise analysis, Germany is positioned as a pivotal player within the European market. With a robust healthcare system and technological innovativeness, Germany is set to record the highest CAGR of about 6.9% during the forecast period.
The research report sheds light on the magnitude of diabetes within Germany, quoting estimates that indicate an alarming rise in the diabetic population potentially reaching up to 12 million by 2040. This rising prevalence significantly contributes to the increased demand for self-monitoring blood glucose devices in the country.
Europe Self-monitoring Blood Glucose Devices Market: A Fragmented Landscape
The market landscape is identified as fragmented, with a mix of major global players and regional manufacturers. Key industry players such as Abbott, LifeScan, Roche, and Ascensia dominate with a substantial market presence.
The latest market insights offer valuable information for stakeholders, healthcare providers, and patients, revealing the market's trajectory and providing a clear understanding of the current trends and future growth patterns. This analysis is poised to aid in strategic decision-making and market positioning for businesses within the industry.
With the ongoing advancements and the ever-increasing importance of efficient diabetes management, the Europe Self-monitoring Blood Glucose Devices Market remains a focal point of growth within the global healthcare sector.
A selection of companies mentioned in this report includes
- Abbott Diabetes Care
- Roche Diabetes Care
- LifeScan
- Arkray
- Ascensia Diabetes Care
- Agamatrix
- Bionime Corporation
- Acon
- Medisana
- Trivida
- Rossmax International
For more information about this report visit https://www.researchandmarkets.com/r/yxmxwa
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