The United Kingdom diabetes market is segmented into self-monitoring blood glucose devices, continuous glucose monitoring devices, insulin pens, and insulin pumps. Insulin pumps are projected to experience the highest growth rate over the forecast period due to the rising prevalence of diabetes, particularly type 1 diabetes. The smart insulin pens market forecast has also experienced a surge in demand for insulin pens because of the growing number of diabetic patients and their cost-effectiveness compared to insulin pumps. The National Service Framework (NSF) program and the Association of British HealthTech Industries (ABHI) have been instrumental in improving service quality and addressing variations in care by setting national standards. ARKRAY launched its brand in the UK and Europe in November 2021, marketing and supporting its diabetes testing systems directly to customers. Renub Research is a market research and consulting company that provides a wide range of business research solutions that help companies make better business decisions.
United Kingdom Diabetes Market Forecast 2023-2028: Trends, Drivers, and Opportunities for Growth
Renub Research’s latest report on the United Kingdom Diabetes Market reveals that the market size was $5.49 billion in 2022. The U.K. holds one of the largest healthcare industries globally, and diabetes is a significant problem. An extensive healthcare and treatment industry has built up around it, with the increasing instances of diabetes among the population actively facilitating market growth. The rise in concern among the population regarding diabetes’ ill effects and anticipated risks towards other infectious diseases, mainly among the geriatric population who are highly susceptible to both type 1 and type 2 diabetes, would aid the growth of the United Kingdom market in the forecast period.
The British Diabetic Association reported that since 2020, more than 150,000 individuals have been diagnosed with diabetes in the U.K. An estimated 13.6 million people are at an elevated risk of developing type 2 diabetes in the U.K., and by 2030, there will be 5.5 million persons with diabetes worldwide, not including those who have never been diagnosed.
Type 2 Diabetes is Increasing Year on Year
Approximately 90% of people with diabetes in the U.K. have type 2 diabetes, a severe and potentially lifelong condition. Elevated blood sugar levels associated with this ailment can result in severe damage to different body parts, including the eyes, heart, and feet. Type 1 diabetes, on the other hand, accounts for around 8% of people with diabetes, while rarer types of diabetes make up approximately 2%.
A charity has cautioned that up to 1 in 14 adults in the U.K. could develop diabetes by 2030 unless the government invests significantly in prevention services. The primary factor contributing to the revenue generation of the type 2 diabetes industry is the surging obesity epidemic. In addition, the increasing requirement for diabetes drugs among adults propels the expansion of type 2 Diabetes.
In conclusion, the United Kingdom Diabetes Market is set to grow in the forecast period due to the rising concern among the population regarding diabetes’ ill effects and anticipated risks towards other infectious diseases. The increasing instances of diabetes among the population and the extensive healthcare and treatment industry built around it are also contributing factors to the market’s growth. However, the surging obesity epidemic and increasing requirement for diabetes drugs among adults are significant factors propelling the expansion of type 2 diabetes, and investing in prevention services is crucial to prevent the rise in diabetes cases in the future.
Key Drivers for Growth in the United Kingdom Diabetes Market
The United Kingdom Diabetes Market is segmented into several categories, including self-monitoring blood glucose devices, continuous glucose monitoring (CGM) devices, insulin pens, and insulin pumps. Over the forecast period, insulin pumps are expected to experience the highest growth rate due to the demand for portable insulin delivery devices among diabetic patients. Computerized devices programmed to administer pre-determined insulin doses have witnessed significant expansion in recent years, driven by the rising prevalence of diabetes, particularly type 1 diabetes. Integrating smart technologies, such as Artificial Intelligence (A.I.) and Machine Learning (ML), in advanced pumps developed by leading medical device manufacturers has emerged as a key growth driver for this market.
The National Service Framework (NSF) program has been instrumental in improving service quality and addressing variations in care by setting national standards. Additionally, the Association of British HealthTech Industries (ABHI) has launched a diabetes section, which brings together diabetes technology companies in a unique forum. Continuous subcutaneous insulin infusion (CSII or insulin pumps) and glucose monitoring systems (CGMs) have significantly enhanced patient care and quality of life, especially in outpatient settings. Their use is increasing in hospitals. The COVID-19 pandemic has made the necessity of glycemic control in diabetic individuals more apparent because uncontrolled diabetes raises the risk of hospitalization and viral illness-related death.
Insulin pens are popular due to their ease of use and accurate insulin dosing capabilities. They are also cost-effective compared to insulin pumps, which has led to significant demand growth in the smart insulin pens market forecast.
In conclusion, the United Kingdom Diabetes Market is set to experience significant growth due to the demand for portable insulin delivery devices and computerized devices programmed to administer pre-determined insulin doses. Integrating smart technologies in advanced pumps and the government’s initiatives to improve service quality and bring together diabetes technology companies have emerged as key drivers for this market. Additionally, insulin pens’ popularity due to their ease of use and cost-effectiveness compared to insulin pumps has led to significant demand growth in the smart insulin pens market forecast.
Major Players and Partnerships in the United Kingdom Diabetes Market
Competing in the United Kingdom diabetes market are several major players, including B. Braun Melsungen AG, Eli Lilly and Company, Terumo Corporation, Becton, Dickinson (BD), Novo Nordisk A/S, Ypsomed AG, Medtronic, Insulet Corporation, Abbott Laboratories, DarioHealth Corp., Dexcom Inc., Roche Diagnostic, and Tandem Diabetes Care.
In April 2022, Abbott, CamDiab, and Ypsomed announced a partnership to develop and market an integrated automated insulin delivery (AID) system. This smart wearable solution continuously monitors glucose levels and delivers the appropriate amount of insulin at the right time, eliminating the need for manual insulin dosing. The partnership’s initial focus is on European countries.
In November 2021, ARKRAY, the developer of the world’s first HLPC HbA1c clinical analyzer, launched its brand in the U.K. and Europe. The company’s diabetes testing systems are being marketed and supported directly to customers rather than through a distributor.
The United Kingdom Diabetes Market is segmented into several categories, including self-monitoring blood glucose devices, continuous glucose monitoring (CGM) devices, insulin pens, and insulin pumps. Renub Research’s report provides a complete analysis of the United Kingdom Diabetes Industry, including revenue analysis and recent developments of major players.
Overall, major players and partnerships in the United Kingdom Diabetes Market are driving innovation and advancing the development of smart wearable solutions, automated insulin delivery systems, and direct-to-customer marketing of diabetes testing systems.
Renub Research is a leading market research and consulting company with over 14 years of experience in international B2B research, surveys, and consulting. They provide a range of business research solutions that help companies make better business decisions. Renub Research partners with clients in various sectors and regions to identify high-value opportunities, address critical challenges, and transform businesses. They have a broad clientele comprising major players in various industries, including healthcare, travel and tourism, food and beverages, power energy, information technology, and more. Renub Research has a team of experienced professionals holding graduate, postgraduate, and Ph.D. degrees in various fields. They offer their services worldwide and are based in Roswell, GA, in the United States. For inquiries, interested parties can reach out to Renub Research through their website, email, or phone.
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