Europe Self-monitoring Blood Glucose (SMBG) Devices Market Insights Forecasts to 2032.

• The Europe Self-monitoring Blood Glucose (SMBG) Devices Market Size was valued at USD 6,798.1 Million in 2022.
• The Market is Growing at a CAGR of 8.3% from 2022 to 2032
• The Europe Self-monitoring Blood Glucose (SMBG) Devices Market Size is expected to reach USD 15,088.3 Million by 2032.

The Europe Self-monitoring Blood Glucose (SMBG) Devices Market Size was valued at USD 6,798.1 Million in 2022. The Europe Self-monitoring Blood Glucose (SMBG) Devices Market Size is projected to exceed USD 15,088.3 Million by 2032, growing at a CAGR of 8.3% from 2022 to 2032.

Market Overview

SMBG devices play an important role in diabetes management, allowing patients to make informed decisions about their diet, medication, and lifestyle in order to maintain healthy blood sugar levels. These devices include blood glucose meters, test strips, lancets, and continuous glucose monitoring (CGM) systems, among others. Blood glucose meters are portable electronic devices that measure blood sugar levels, whereas test strips and lancets are used to collect a small blood sample for testing. Continuous glucose monitoring systems provide real-time glucose level data, allowing for a more complete understanding of blood sugar fluctuations. Technological advancements, such as Bluetooth-enabled meters and smartphone apps that allow data sharing with healthcare providers, characterize the Europe SMBG Devices market. With a growing diabetic population and increased awareness of the importance of regular monitoring, this market is evolving, offering innovative solutions to improve the quality of life of individuals with diabetes in Europe.

Report Coverage

This research report categorizes the market for Europe self-monitoring blood glucose (SMBG) devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe self-monitoring blood glucose (SMBG) devices market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe self-monitoring blood glucose (SMBG) devices market.

Driving Factors

The main driver is the rising prevalence of diabetes in Europe. With millions of diabetics, there is an increasing demand for regular blood glucose monitoring, which is driving the demand for SMBG devices. Europe's population is aging, and diabetes is more common in the elderly. As the elderly population ages, there is a greater demand for SMBG devices to manage and monitor diabetes. Patients are becoming more proactive in their health management, and SMBG devices enable people with diabetes to regularly monitor their blood glucose levels, giving them a sense of control and responsibility over their condition. SMBG technology is constantly evolving, resulting in more precise, user-friendly, and convenient devices. Wireless connectivity, smartphone apps, and cloud-based data storage all help to improve the user experience and data accessibility.

Restraining Factors

Europe's stringent regulatory requirements, such as CE marking and conformity assessments, can present difficulties for manufacturers seeking market approval. Maintaining compliance with changing regulations can be time-consuming and costly.

Market Segment 

The Europe Self-monitoring Blood Glucose (SMBG) Devices Market share is segmented into product and application.

• The continuous glucose monitors segment accounted for the largest share of the Europe self-monitoring blood glucose (SMBG) devices market in 2022.            

The Europe self-monitoring blood glucose (SMBG) devices market is divided by product into self-monitoring blood glucose meters, continuous glucose monitors, testing strips, and lancets. Among these, the continuous glucose monitors segment accounted for the largest share of the Europe self-monitoring blood glucose (SMBG) devices market in 2022. Because of their advanced features and improved patient outcomes, CGMs have seen rapid growth in the Europe SMBG Devices market. CGMs provide a completer and more continuous picture of glucose fluctuations, allowing for better glycemic control and reducing the need for frequent fingersticks. They are especially beneficial to individuals with type 1 diabetes.             

• The type 2 diabetes segment accounted for a significant share of the Europe self-monitoring blood glucose (SMBG) devices market in 2022.            

Based on the application, the Europe self-monitoring blood glucose (SMBG) devices market is classified into type 1 diabetes, type 2 diabetes, gestational diabetes. Among these, the type 2 diabetes segment accounted for a significant share of the Europe self-monitoring blood glucose (SMBG) devices market in 2022. Insulin resistance and impaired insulin production characterize type 2 diabetes. It is frequently linked to lifestyle factors such as obesity and physical inactivity.            

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe self-monitoring blood glucose (SMBG) devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. 

List of Key Companies

• Abbott Laboratories
• All Medicus
• Arkray
• B. Braun Melsungen AG
• Bayer Healthcare
• Bionime Corporation
• Dexcom
• F. Hoffmann-La Roche
• Johnson & Johnson
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the Europe Self-monitoring Blood Glucose (SMBG) Devices Market based on the below-mentioned segments:

Europe Self-monitoring Blood Glucose (SMBG) Devices Market, By Product

• Self-monitoring Blood Glucose Meters
• Continuous Glucose Monitors
• Testing Strips
• Lancets

Europe Self-monitoring Blood Glucose (SMBG) Devices Market, By Application

• Type 1 Diabetes
• Type 2 Diabetes
• Gestational Diabetes

Europe Self-monitoring Blood Glucose (SMBG) Devices Market, By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Sales
• Diabetes Clinics & Centers

Europe Self-monitoring Blood Glucose (SMBG) Devices Market, By Country

• United Kingdom
• Germany
• Italy
• France
• Spain
• Netherlands
• Rest of Europe