(Health-NewsWire.Net, July 17, 2017 ) Diabetes is a group of metabolic disorders, chronic condition which is associated with abnormally high level of sugar (glucose) in the blood. Europe currently witnesses 59.8 million people affected with Diabetes which is going to reach 71.1 million by 2040.
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In Europe, the market is driven by a sudden rise in the number of people affected with diabetes and with high investments in R & D. Also, with an increasing awareness among the patients, there is quite a hike in the demand for diabetes care devices. Due to the reimbursement and patent expiry issues, the market growth in Europe is constrained. Rules governing healthcare reimbursement keeps changing frequently, with government payers sometimes changing on a day-to-day basis. This complexity can make it very difficult for practices to understand payer rules, keep up with changes to those rules. With such problems prevalent, there is a high risk of losing customers due to which there could be a significant drop in the market growth in Europe.
Europe Diabetes Care Devices Market: Segmentation
Glucose Monitoring Devices
Self Blood Glucose Monitoring Devices
o Glucose Meters
o Test strips
o Hemoglobin A1C testing Kits
Continuous Glucose Monitoring Devices
Insulin Delivery Systems
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Geographically, Europe is divide into Germany, UK, France, Italy and Rest of Europe. It is the second largest market share contributor in the world following North America, with a number of market revenue creating companies based in Europe. The REACTION project in Europe, aims to address new care models for diabetes management through various clinical applications, such as monitoring of vital signs, feedback provision to the point of care, integrative risk assessment, event, and alarm handling. With such projects already in progress, there is a lot of scope for market growth in this region. Government policies and subsidies play a vital role in the growth of the market. With the increasing policies, there is a significant rise in the investments on the devices by the companies, due to which there is a commendable growth in the European Diabetes Care Devices market.
Roche Diagnostics, Ascensia, Abbott Laboratories, Novo Nordisk, Johnson & Johnson, Tandem and Terumo are the top companies in European Diabetes Care Devices Market.
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