At 11.0% CAGR, the Europe Glucose Monitoring Devices Market is Projected to be Worth US$ 12,118.27 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe glucose monitoring devices market was valued at US$ 5,248.87 million in 2022 and is expected to reach US$ 12,118.27 million by 2030, registering a CAGR of 11.0% from 2022 to 2030. Rising incidence of diabetes is a critical factor attributed to the Europe glucose monitoring devices market expansion.        

Diabetes among the geriatric population is a growing public health burden worldwide. It is a major cause of morbidity and mortality in the aging population that is later largely attributable to various chronic complications. The aging population is poised to become one of the most significant transformations with a heavy impact on the global social and economic level. This population is growing exponentially worldwide. According to the World Health Organization (2022), by 2030, 1 in 6 people will be aged 60 years or over. The share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of persons aged 80 or older is expected to triple between 2020 and 2050 to reach 426 million. Elderly people are more likely to have diabetes than younger people, and the effect of the disease on quality of life is particularly serious in this population. With the increase in the geriatric population, the prevalence of diabetes has increased. Therefore, there is notable demand for glucose monitoring devices.

On the contrary, high cost of glucose monitoring devices hampers the Europe glucose monitoring devices market.  

Based on type, the Europe glucose monitoring devices market is bifurcated into continuous glucose monitoring devices and self-glucose monitoring devices. The self-glucose monitoring devices held 59.6% share of Europe glucose monitoring devices market in 2022, amassing US$ 3,127.04 million. It is projected to garner US$ 6,860.60 million by 2030 to expand at 10.3% CAGR during 2022–2030. 

Based on application, the Europe glucose monitoring devices market is bifurcated into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held 62.0% share of Europe glucose monitoring devices market in 2022, amassing US$ 3,254.97 million. It is projected to garner US$ 7,351.44 million by 2030 to expand at 10.7% CAGR during 2022–2030.

Based on testing site, the Europe glucose monitoring devices market is bifurcated into fingertip testing and alternate site testing. The fingertip testing segment held 70.2% share of Europe glucose monitoring devices market in 2022, amassing US$ 3,682.92 million. It is projected to garner US$ 8,908.13 million by 2030 to expand at 11.7% CAGR during 2022–2030.

Based on end user, the Europe glucose monitoring devices market is bifurcated into healthcare setting and self/homecare. The self/homecare segment held 59.4% share of Europe glucose monitoring devices market in 2022, amassing US$ 3,118.30 million. It is projected to garner US$ 6,986.87 million by 2030 to expand at 10.6% CAGR during 2022–2030.

 Based on country, the Europe glucose monitoring devices market has been categorized into the Germany, UK, France, Italy, Spain, and Rest of Europe. Our regional analysis states that Germany captured 29.1% share of Europe glucose monitoring devices market in 2022. It was assessed at US$ 1,526.47 million in 2022 and is likely to hit US$ 3,795.19 million by 2030, exhibiting a CAGR of 12.1% during 2022–2030.      

Key players operating the Europe glucose monitoring devices market are B. Braun SE, F. Hoffmann-La Roche Ltd, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, Senseonics Holdings Inc, Nipro Corp, GE HealthCare Technologies Inc, and Terumo Corp, among others.

• In Dec-2020, LifeScan launched its OneTouch Store, including debut subscription offerings for products and live, unlimited personalized diabetes coaching services accessible through the OneTouch Reveal mobile app. The new store provides people with diabetes a choice from various subscriptions and stand-alone products for home delivery. The store includes a full suite of offerings for consumers, such as with a OneTouch Subscription, consumers get a OneTouch Verio Reflect meter or Verio Flex meter, OneTouch Delica Plus lancing device, 100 OneTouch Delica Plus lancets, and ongoing shipments of 90 test strips per month with 100 lancets every three months, delivered by LifeScan partner, Truepill.

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