European Diabetes Device Market Growing Due to Technological Advancements

Life Science Investing News

According to iData Research’s report entitled, “European Market Report Suite for Diabetes Diagnosis, Treatment and Drug Delivery“, market growth is fueled by the prevalence of diabetis in Europe and advancements in technology, especially in the test strip and pen needle segments. As quoted in the report: Pen needles are reimbursed under healthcare plans in most …

According to iData Research’s report entitled, “European Market Report Suite for Diabetes Diagnosis, Treatment and Drug Delivery“, market growth is fueled by the prevalence of diabetis in Europe and advancements in technology, especially in the test strip and pen needle segments.
As quoted in the report:

Pen needles are reimbursed under healthcare plans in most of the 15 European markets analyzed in this report, but several regions are characterized by retail markets where distribution of products is done through tenders. These regional differences lead to drastically varying prices across markets and will result in higher pen needle reuse rates in regions where patients must pay out-of-pocket costs for pen needles. Reuse rates were found to be higher in Belgium, Germany and Spain relative to other countries in the European region.
“Favorable reimbursement policies and technological innovation results in a high growth trend for pen needles and insulin pumps,” explains Dr. Kamran Zamanian, CEO of iData. “With an increasing number of competitors planning to enter the market in the near future, it is expected that this trend will prevail over the forecast period and contribute to the growth of the market in Europe.”
Flash glucose monitoring (FGM) represents the fastest growing segment in the total European diabetes diagnosis, treatment and drug delivery market. FGM eliminates the need for fingersticking, which is a common patient complaint about other glucose monitoring devices. FGM has been met with outstanding demand since it launched in Europe and it is expected that this trend will continue as the product establishes an installed base. Product shortages due to high demand occurred during its initial release, but production issues have since been resolved and unit sales have resumed at a growing rate.
CGM-integration is becoming an essential feature of modern insulin pumps and will contribute to the growth of both standalone CGM and CGM-integrated pump systems. There are several companies working on non-invasive continuous glucose monitoring (NICGM) products which allow patients to monitor their blood glucose levels without the need for needles.
Novo Nordisk is the leading competitor in the European diabetes diagnosis, treatment and drug delivery market. The company’s most popular products include rapid-acting insulin analog NovoRapid®, long-acting insulin analog Levemir® and premixed insulin analog NovoMix®. Sanofi is the second leading competitor in the market. Sanofi recently launched Toujeo®, an ultra-long-acting insulin analog that lasts up to 36 hours and only requires an injection once a day. Additional competitors in the diabetes diagnosis, treatment and drug delivery market include Eli Lilly, Roche, Johnson & Johnson, Abbott, Ascensia, Medtronic, Insulet, DexCom, Becton Dickinson, Artsana, B. Braun, Terumo and Ypsomed among others.

The Conversation (0)
×