Report Overview
The Finland portable glucose monitor market is projected to grow at a high CAGR during the forecast period.
The rising prevalence of obesity in Finland is leading to increased prevalence of type diabetes in the country which is anticipated to propel the growth of the portable glucose monitor market in Finland during the forecast period. Also, the high prevalence of type 1 diabetes among Finnish children and the country having the highest rate of type 1 diabetes, is another major factor that is expected to surge the growth of Finland's portable glucose monitor market during the forecast period. Also, Finland has a rapidly aging population, which coupled with the technological advancements in devices and urbanization, is anticipated to propel the market growth in the coming years.
The recent outbreak of the novel coronavirus disease had a positive impact on the Finland portable glucose monitor market. The pandemic has made the population more health-conscious, a trend which is anticipated to continue in the future, and is anticipated to boost up the growth of the portable glucose monitoring market in Finland.
The Finland portable glucose monitor market has been classified based on product, type, and end-user. By product, the market has been classified based on Glucometer Device, Test Strips, and Lancets. Based on type, the segmentation has been done into Wearable and Non-Wearable. By end-user, the market has been categorized into Hospitals & Diagnostic Centers, and Home Care.
The sharp rise of diabetes cases in Finland
One of the major factors anticipated to drive the portable glucose monitor market growth in Finland is the increasing rate of diabetes in the country, which is prompting the patients to monitor their glucose levels from their homes regularly leading to increased sales of portable glucose monitors. According to an article by BMC Public Health published in the US National Library of Medicine, National Institutes of Health in October 2017, Finland has the highest rate of type 1 diabetes in the world. The mean incidence of type 1 diabetes in children under 15 years was 52.2 per 100,000/year from 2015 to 2018, as per American Diabetes Association (2020). Hence, to constantly monitor their blood glucose levels at regular time intervals, the demand for portable glucose monitoring devices has increased over the years and is anticipated to further grow during the forecast period. According to International Diabetes Federation, as of 2020, Finland has a total adult population of 4.04 million out of which 373,900 people have diabetes, which accounts for 9.2% of the adult population. Also, the Finnish Institute for Health and Welfare states that the prevalence of type-2 diabetes among the young population has been increasing over the years in Finland. It also states the lifestyle changes in Finland, such as more screen time, reduced exercise, and diet changes, are major contributor factors to weight gain and, consequently, the rising prevalence of Type 2 diabetes in the country.
Competitive Insights
Prominent/major key market players in the Finland portable glucose monitor market include Abbott, Dexcom, Inc., Roche Diabetes Care, Inc., among others. The players in the Finland portable glucose monitor market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Finland portable glucose monitor market.
Segmentation
- By Product
- Invasive
- Non-Invasive
- By Type
- Wearable
- Non-Wearable
- By End-User
- Hospitals & Diagnostic Centers
- Home Care
- By Cities
- Helsinki
- Espoo
- Tampere
- Others