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According to a new series of reports on the European markets for diabetes diagnosis, treatment and drug delivery by iData Research, market growth will be driven by the increasing prevalence of diabetes in Europe and technological advancements made in certain segments, particularly insulin pumps and continuous glucose monitoring (CGM). However, the recent influx of inexpensive competitors in the test strip and pen needle segments has placed downward pressure on the prices of these products and has resulted in market value contractions despite growing volume in certain regions in Europe.
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.
For Further Information
More on the diabetes device market in Europe can be found in a series of reports published by iData Research entitled the European Market Report Suite for Diabetes Diagnosis, Treatment and Drug Delivery. The suite covers reports on the following markets: blood glucose meters, blood glucose test strips, lancets and lancing devices, continuous glucose monitoring (CGM), flash glucose monitoring (FGM), insulin, insulin pens, insulin syringes and insulin pumps.
The iData report series on diabetes devices covers the U.S. and 15 countries in Europe including Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. Reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about diabetes devices market data, register online or email us at [email protected] for a European Market Report Suite for Diabetes Diagnosis, Treatment and Drug Delivery brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Large & Small Joints, Orthopedics, Orthopedic Trauma, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Anesthesiology, Wound Management, Ophthalmics, Dental Operatory Equipment and more.
About Procedure Tracker
Procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by state, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
About Reimbursement Tracker
iData Research’s Reimbursement Policy Tracker enables medical device, dental, pharmaceutical and healthcare professionals to receive real-time policy updates from hundreds of insurance companies and 60,000+ policies across all therapeutic areas in the United States.
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