The growth of the market is driven by the factors such as, growing geriatric population and rising incidence of diabetes. However, the market is likely to get impacted due to availability of alternatives for drug delivery and limitations associated with insulin pens in the region.
Diabetes among geriatric population is a growing public health burden worldwide. It is a major cause morbidity and mortality in ageing population that later largely attributable to various chronic complications. Ageing population is poised to become one of the most significant transformation with a heavy impact on the social and economic level across the Europe. According to a report of United Nation in 2017, there were approximately 183 million people aged 60 or above across the Europe in 2017 and was projected to reach to 247.2million by 2050. The number of geriatric population is expected to grow significantly in Europe, Diabetes has been growing as a major health problem and a significant burden on the population and on health systems of developing countries. There are about 60 million people with diabetes in the Europe, or about 10.3% of men and 9.6% of women aged 25 years and over. Prevalence of diabetes is increasing among all ages in the European Region, mostly due to increases in overweight and obesity, unhealthy diet and physical inactivity. The elderly people are more likely to have diabetes than younger people, and the effect of the disease on quality of life is particularly deep in this population. With increase in the number of geriatric population, the prevalence of the diabetes has increased. Therefore, the demand of insulin pens, which are devices that facilitate easy administration of insulin are expected to increase in the forecast period.
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Germany is expected to lead the market in the Europe region owing to rising prevalence of the diabetes and support by the government in the country. In addition, the government in Germany are putting their efforts to improve the conditions for the people suffering from the diabetes. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the Europe region during the forecast period.
EUROPE DIABETES CARE DEVICES – MARKET SEGMENTATION
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