United Kingdom Diabetes Device Overview
Because diabetes is becoming more common and there is a greater need for sophisticated management options, the market for diabetic devices in the UK is growing. Patient care is being improved by advancements in digital health technologies, insulin pumps, and continuous glucose monitoring (CGM). The use of these technologies is additionally bolstered by robust healthcare infrastructure and government initiatives.Obesity, poor diet, and physical inactivity are the main causes of the rising rate of newly diagnosed Type 1 and Type 2 diabetes patients. The fast-rising rates of diabetes prevalence and incidence, together with rising healthcare costs, are signs that the need for diabetic care products is growing.
The British Diabetic Association reports that statistics on diabetes prevalence from 2021 indicates a rise in the number of persons in the UK who have been diagnosed with the disease, up more than 150,000 from 2020. In the UK, an estimated 13.6 million people have an elevated risk of type 2 diabetes. By 2030, 5.5 million individuals worldwide - including the undiagnosed population - are predicted to get diabetes if current trends continue.
Growth Drivers for the United Kingdom Diabetes Device Market
Growing government initiatives
The use of cutting-edge diabetes management technologies is greatly encouraged by government efforts in the UK, especially those that are funded by the National Health Service (NHS) and have robust healthcare regulations. In addition to tackling the rising incidence of diabetes in the general population, these initiatives improve patient care and results by expanding access to cutting-edge technology.IDF estimates that 21,600 additional children are added to the pool of people with type 1 diabetes each year. These numbers show that diabetes accounts for almost 9% of all healthcare spending in Europe. The National Service Framework (NSF) program in the United Kingdom is one of several government efforts that improves services by establishing national standards to improve service quality and address care disparities.
Diabetes is on the rise due to an aging population
The UK's aging population is a major factor in the rising diabetes prevalence, especially Type 2 diabetes, which is more common among older persons. With longer life expectancies come more people with chronic illnesses like diabetes, which raises the need for efficient management strategies.The need for medical devices like blood glucose meters, insulin pumps, and continuous glucose monitors (CGMs) is being driven by this shift in demographics. Because elderly patients frequently need more extensive care, medical professionals are concentrating more on cutting-edge technologies that can improve therapy and monitoring. As a result, the aging population drives demand for medical equipment catered to the particular health requirements of this generation and emphasizes the urgent need for diabetes control tools.
United Kingdom Diabetes Device Company Analysis
The major participants in the United Kingdom Diabetes Device market includes Abbott Laboratories, Roche, Medtronic, Novo Nordisk A/S, Terumo Corporation, Eli Lilly, BD, Dexcom Inc.United Kingdom Diabetes Device Company News
In May 2023, A major step forward was taken by the National Institute of Clinical Excellence (NICE) when it updated its recommendations to include automated glucose monitoring devices (Flash glucose monitors and CGMs) for kids with type 2 diabetes. This is an important development for the UK since it does away with the need for fingerstick testing as the only method of monitoring children's blood sugar levels. Fingersticks have been useful, but they may also be stressful and uncomfortable, especially for kids and their families who have to do a lot of exams every day.In June 2022, the most recent and cutting-edge insulin delivery technology from Cequr, the pioneer in wearable diabetes technology, is the Insulin Pen 2.0TM. The pen has an integrated blood glucose meter that allows users to monitor their blood sugar levels throughout the day. It is tiny enough to be worn on the user's body at all times.
Types - Industry is divided into 4 viewpoints:
1. Self-Monitoring Devices2. Continuous Glucose-Monitoring Devices
3. Insulin Pumps
4. Insulin Pens
Distribution Channel - Industry is divided into 4 viewpoints:
1. Hospital Pharmacies2. Retail Pharmacies
3. Diabetes Clinics/Centers
4. Online Pharmacies
All companies have been covered with 5 Viewpoints
1. Overviews2. Key Person
3. Recent Developments & Strategies
4. Product Portfolio & Product Launch in Last 1 Year
5. Revenue
Company Analysis
1. Abbott Laboratories2. Roche
3. Medtronic
4. Novo Nordisk A/S
5. Terumo Corporation
6. Eli Lilly
7. BD
8. Dexcom Inc
Key Questions Answered in Report:
1. How big is the United Kingdom Diabetes Device industry?2. What is the United Kingdom Diabetes Device industry growth rate?
3. Who are the key players in United Kingdom Diabetes Device industry?
4. What are the factors driving the United Kingdom Diabetes Device industry?
5. Which Region held the largest market share in the United Kingdom Diabetes Device industry?
6. What segments are covered in the United Kingdom Diabetes Device Market report?
Table of Contents
Companies Mentioned
- Abbott Laboratories
- Roche
- Medtronic
- Novo Nordisk A/S
- Terumo Corporation
- Eli Lilly
- BD
- Dexcom Inc
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 1.05 Billion |
| Forecasted Market Value ( USD | $ 2 Billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | United Kingdom |
| No. of Companies Mentioned | 8 |
