France Diabetes Market shall be US$ 3.39 Billion by 2028
France Diabetes Industry shall grow with a CAGR of nearly 2.72% from 2023 to 2028 according to Renub Research. The expansion observed in France's diabetes market is due to several factors, including a growing incidence of diabetes, enhanced awareness and screening initiatives, and advancements in technologies for managing diabetes. Renub Research has recently published a report titled "France Diabetes Market, Size, Forecast 2023-2028, By Insulin Pump, CGM, Self-Monitoring Blood Device and Company Analysis" providing a comprehensive analysis of the industry that includes market share insights. In addition, the report comprises competitor and regional research and contemporary extension in the France Diabetes Market.
Recently, there has been a concerning rise in the incidence of diabetes in France, with approximately one million individuals diagnosed, according to the World Health Organization (WHO). This condition is most prevalent among all chronic illnesses, primarily due to lifestyle changes such as an inactive lifestyle and unhealthy eating habits. Consequently, there is a surging demand for diabetes management services and products.
The France diabetes market has expanded owing to the rising awareness and screening efforts, which have facilitated early detection and improved management of diabetes. Additionally, advancements in diabetes management technologies have played a significant role, enabling better control of blood sugar levels and improved patient outcomes. For instance, the introduction of insulin pumps and continuous glucose monitoring systems has simplified diabetes management for patients, thus driving growth in the France diabetes market.
The French government has increased accessibility to diabetes management products and services like blood glucose meters, insulin pumps, and continuous glucose monitoring systems by reimbursing their costs. In addition, they have implemented screening programs, such as the French National Health Insurance, which covers blood glucose testing for those with diabetes risk factors. The government's statutory health insurance provides 100% coverage, doubling the number of covered patients in the last decade. Research funding is also available to support the development of new treatments and technologies for diabetes management.
Unhealthy lifestyles and an Aging Population contribute to the Prevalence of Type 2 Diabetes in France
In France, one in 10 people has diabetes, with the most significant number of people having chronic diabetes, according to a survey by the EU Commission. Furthermore, the aging population has increased the risk of developing type 2 diabetes, affecting more than 90% of those with the disease. It is most common in people over 45, as the Centres for Disease Control and Prevention (CDC) estimates. Additionally, sedentary lifestyles and unhealthy dietary habits have increased obesity rates, a significant risk factor for type 2 diabetes due to its role in causing insulin resistance. Finally, genetic predisposition can also contribute to developing type 2 diabetes in individuals with a genetic tendency towards the condition.
Popularity of SMBG in the France Diabetes Market can be due to factors such as Affordability and Government Assistance
Self-Monitoring of Blood Glucose (SMBG) is dominant in the France Diabetes Market as SMBG devices are widely available and affordable, making them accessible to many patients. In addition, the French government has taken initiatives to encourage using SMBG devices, including reimbursing the associated costs. Moreover, SMBG devices allow patients to monitor their blood glucose levels more frequently and conveniently, enabling better management of their condition. Furthermore, SMBG devices have been proven effective in minimizing the risk of complications associated with diabetes, such as cardiovascular disease and diabetic retinopathy, leading to increased demand for these devices.
Competitive Landscape
Major players competing in the France Diabetes Market are B. Braun Melsungen AG, Eli Lilly and Company, Terumo Corporation, Becton, Dickenson (BD), Novo Nordisk A/S, Ypsomed AG, Medtronic, Insulet Corporation, Abbott Laboratories, DarioHealth Corp., Dexcom Inc., Roche Diagnostic, and Tandem Diabetes Care.
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Companies in the French diabetes market constantly innovate to meet the evolving needs of patients while complying with strict regulations and reimbursement policies. Cost-effectiveness is critical due to high price sensitivity, with the government's policies and pricing strategies impacting competition. Companies differentiate themselves through value-added features like mobile apps and analytics platforms and compete for market share.
Market Summary:
- Devices - The Report covers France Diabetes Market by devices in 3 viewpoints
- Self-Monitoring Blood Glucose (SMBG)Devices
- Continuous Glucose Monitoring (CGM) Devices
- Insulin Pumps
- Key Players- All the major players have been covered from 3 Viewpoints (Company Overview, Recent Developments, and Financial Insights) B. Braun Melsungen AG, Eli Lilly and Company, Terumo Corporation, Becton, Dickenson (BD), Novo Nordisk A/S, Ypsomed AG, Medtronic, Insulet Corporation, Abbott Laboratories, DarioHealth Corp., Dexcom Inc., Roche Diagnostic, and Tandem Diabetes Care.
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