Sweden Portable Glucose Monitor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product (Invasive, Non-Invasive), By Type (Wearable, Non-Wearable), And By End-User (Hospitals, Homecare) - Forecasts From 2021 To 2026
- Published : Jul 2021
- Report Code : KSI061611259
- Pages : 70
The Sweden portable glucose monitor market is projected to grow steadily during the forecast period.
A glucose monitor is a small, portable machine that is used to measure the amount of glucose present in the blood. People with diabetes often use a blood glucose meter to help them manage their condition. According to the International Diabetes Federation, 2019, diabetes prevalence in the population aged between 20 to 79 years in Sweden was reported at 4.8 % in 2019, the percentage is expected to increase during the forecast period. The changing lifestyle patterns have led to an increase in the number of diabetic patients in Sweden which will fuel the growth of this market over the forecast period. In addition, due to the unhealthy eating habits of Sweden citizens, the number of people suffering from obesity and overweight has been on a surge. According to the World Health Organization, 2018, around 50% of adults in Sweden are overweight or obese. The prevalence of obesity has increased among adults during the period 2004–2016 and was 15% among both women and men in 2016. The increasing incidence of obesity will further spike the number of diabetic patients, subsequently increasing the demand for portable glucose monitors in the Sweden market. Also, the portable glucose monitors make it easier to keep a check on blood glucose levels which is vital for proper diagnosis and treatment of diabetes. The monitor is a near-patient device that allows the immediate detection of glucose levels in the body of a patient and facilitates rapid treatment solutions if the need arises. Furthermore, the continuous innovations are increasing the portability, efficiency, and reliability of these monitors which is anticipated to increase their demand over the projected period.
Sweden PORTABLE GLUCOSE MONITOR Market, US$ million, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
By type, the wearable segment is estimated to hold a dominant market share owing to the portability and convenience associated with it. By end-user, the home-care segment is projected to grow at the highest CAGR due to the increasing incidence of diabetes in the Sweden citizens and the portable properties of the glucose monitor.
Sweden PORTABLE GLUCOSE MONITOR Market share, by type
Source: Knowledge Sourcing Intelligence Analysis
- Increasing diabetic patients.
The constant surge in the number of diabetic patients in Sweden is expected to contribute majorly towards the market growth of the portable glucose monitor market during the next few years as the portable glucose monitor helps to monitor the glucose levels in the blood of diabetic patients. According to the International Diabetes Federation, 1 in 5 people who are above 65 years old has diabetes. The geriatric population in Sweden has been on the rise which enhances the risk of diabetes in the population aged above 65 years. According to Sweden.se, 20% Sweden citizens have passed the standard retirement age of 65. This number is projected to rise to 23% cent by 2040. The rise in the geriatric population will in turn accelerate the number of diabetic patients in the country which will result in the increase in the demand and adoption of portable glucose monitors in the market in the long run.
- Unfavorable reimbursement policies.
The major restraint for the portable glucose monitor market in Sweden is the unfavorable reimbursement policies associated with it. Many medical claim providers and medical insurance companies located in Sweden do not reimburse the diagnosis and treatment of diabetes, which makes patients apprehensive about going forward with the treatment as it is a costly affair. The unfavorable reimbursement policies may hamper the market growth as if the patients are unable to claim the expenses, they will try to avoid the diagnosis and treatment which in turn will restrict the market growth during the forecast period.
Covid 19 Impact On Sweden Portable Glucose Monitor Market
The Covid-19 pandemic moderately impacted the Sweden portable glucose monitor market as due to the countrywide lockdown restrictions, many patients deferred their ongoing treatments and postponed their diagnosis to avoid public places which hampered the market growth. However, the diabetic patients who regularly use portable glucose monitors as a part of their treatment balanced the market growth during the novel pandemic.
The market leaders for the Sweden Portable Glucose Monitor Market include Dexcom, Inc., Roche Diabetes Care, Inc., GlucoMe, Ltd., Novo Nordisk A/S, Sanofi S.A., Medtronic, PLC, and Johnson & Johnson. The key players in the market implement growth strategies such as product launches, mergers, and acquisitions, etc. to gain a competitive advantage over their competitors. For Instance, in June 2018, Johnson & Johnson, a global pharmaceutical company, acquired LifeScan, Inc., a diagnostic system manufacturer, for its blood glucose monitoring business, for approximately $2.1billion.
Sweden Portable Glucose Monitor Market Scope:
|Growth Rate||CAGR during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product, Type, End-User|
|Companies covered||Dexcom, Inc., Roche Diabetes Care, Inc., GlucoMe, Ltd., Novo Nordisk A/S, Sanofi S.A., Medtronic, PLC, Johnson & Johnson|
|Customization scope||Free report customization with purchase|
- By Product
- By Type
- By End-User
- Home Care
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Sweden Portable Glucose Monitor Market Analysis, By Product
6. Sweden Portable Glucose Monitor Market Analysis, By Type
7. Sweden Portable Glucose Monitor Market Analysis, By End-User
7.3. Home Care
8. Competitive Intelligence
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. Company Profiles
9.1. DexCom, Inc.
9.2. Roche Diabetes Care, Inc.
9.3. GlucoMe, Ltd.
9.4. Novo Nordisk A/S
9.5. Sanofi S.A.
9.6. Medtronic, PLC
9.7. Johnson & Johnson
Roche Diabetes Care, Inc.
Novo Nordisk A/S
Johnson & Johnson
|Report Name||Published Month||Get Sample PDF|
|Sweden Smartwatch Market Size & Share: Industry Report, 2023-2028||Jun 2023|
|Sweden Road Freight Logistics Market Trends: Size & Share, 2022 - 2027||Mar 2020|
|Sweden Sea Freight Logistics Market Size & Share: 2022 - 2027||Mar 2020|
|Sweden Air Freight Logistics Market Size & Share: 2022 - 2027||Mar 2020|